Singapore shares outlook - Higher on Wall St rebound |
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Tue, 23 Oct 2007 00:50
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SINGAPORE (Thomson Financial) - Singapore shares are expected to open higher Tuesday with Wall Street's rebound likely triggering some bargain hunting following sharp losses recently.US stocks regained some ground Monday after sinking Friday, helped by anticipation of strong earnings at Apple Inc which did beat Wall Street's expectations when it reported after the closing bell.The recent decline in the Singapore market, particularly in prices of blue-chip stocks, haspresented 'trading opportunities,' said Najeeb Jarhom, head of retail investment research at Frasers Securities.On Monday, the Straits Times Index closed down 105.34 points or 2.8 percent at 3,642.64, thelowest in nearly four weeks.There were 2.5 billion shares traded valued at 2.6 billion Singapore dollars.Losers overwhelmed gainers 818 to 179, with 692 stocks unchanged.(1 US dollar = 1.46 Singapore dollars)TFN.Singapore@thomson.comjb/msCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Singapore shares open higher on Wall Street's advance - UPDATE 