CIMB-GK Singapore Property Sector 2 April 2008

[ahlahdin]

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[Unregistered]

Thanks for posting. It is very informative for me.

[Unregistered]

http://i266.photobucket.com/albums/ii268/kcc0002/CIMB.jpg
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Thanks for the report.

[Unregistered]

All sour grapes are hoping to see the arrow going down down down but they are all disappointed as the chart all showing arrows up up up. Huat Ah!!!!!

[Unregistered]

All sour grapes are hoping to see the arrow going down down down but they are all disappointed as the chart all showing arrows up up up. Huat Ah!!!!!



haha....the report is saying mass market condo have at least 30-40% upside to go.

[Unregistered]

haha....the report is saying mass market condo have at least 30-40% upside to go.

I strongly believe that there are at least two more sharp increase in our ppty prices as we had in 2007 before it eventually stabilizes.

One will definitely happen in this year. And the other one should be taking place in between 2010 and 2011.

[Unregistered]

haha....the report is saying mass market condo have at least 30-40% upside to go.
Luckily this report is from an independent research company - not from a property-agent research arm.

[Unregistered]

All sour grapes are hoping to see the arrow going down down down but they are all disappointed as the chart all showing arrows up up up. Huat Ah!!!!!
HAHA ALREADY PEAKED. ASK THEM TO EXTEND THAT GRAPH FOR THE NEXT 2 YEARS. OH MY GOD THE TIME IS UP.

[Unregistered]

HAHA ALREADY PEAKED. ASK THEM TO EXTEND THAT GRAPH FOR THE NEXT 2 YEARS. OH MY GOD THE TIME IS UP.
HAHA IN THE MIDST OF OVERTAKING THE LAST PEAK. ASK THEM TO EXTEND THAT GRAPH FOR THE NEXT 2 YEARS. OH MY GOD THE TIME IS RIGHT FOR ANOTHER PEAK.

[Unregistered]

HAHA IN THE MIDST OF OVERTAKING THE LAST PEAK. ASK THEM TO EXTEND THAT GRAPH FOR THE NEXT 2 YEARS. OH MY GOD THE TIME IS RIGHT FOR ANOTHER PEAK.

LIKE THE HONGKONG SUPERSTAR "TWIN PEAK" IS IT??????

[Unregistered]

LIKE THE HONGKONG SUPERSTAR "TWIN PEAK" IS IT??????
Which Hong Kong superstar has Twin Peaks? I know Twins don't have.

[Unregistered]

Which Hong Kong superstar has Twin Peaks? I know Twins don't have.
Please don't insult them.

[Unregistered]

Please don't insult them.
Anyway, most of us saw one of the twins' twins.

[Unregistered]

Anyway, most of us saw one of the twins' twins.
Are you Edison Chen?

[Unregistered]

Luckily this report is from an independent research company - not from a property-agent research arm.
That is why we should trust them.

[Unregistered]

That is why we should trust them.
They say it is to overtake the last peak.

[Unregistered]

haha....the report is saying mass market condo have at least 30-40% upside to go.

Luckily this report is from an independent research company - not from a property-agent research arm.
30-40% upside is good wah. Agree?

[Unregistered]

haha....the report is saying mass market condo have at least 30-40% upside to go.

I strongly believe that there are at least two more sharp increase in our ppty prices as we had in 2007 before it eventually stabilizes.

One will definitely happen in this year. And the other one should be taking place in between 2010 and 2011.
Like that swee liao lor!

[Unregistered]

Like that swee liao lor!
Huat ah!!!

[Unregistered]

All sour grapes are hoping to see the arrow going down down down but they are all disappointed as the chart all showing arrows up up up. Huat Ah!!!!!
Huat Ah!!!!! Huat Ah!!!!!

[Unregistered]

All sour grapes are hoping to see the arrow going down down down but they are all disappointed as the chart all showing arrows up up up. Huat Ah!!!!!

Huat Ah!!!!! Huat Ah!!!!!
Cheong ah!

[Unregistered]

HAHA IN THE MIDST OF OVERTAKING THE LAST PEAK. ASK THEM TO EXTEND THAT GRAPH FOR THE NEXT 2 YEARS. OH MY GOD THE TIME IS RIGHT FOR ANOTHER PEAK.
The next peak will be much higher and it will not be so soon yet.

[Unregistered]

Singapore home sales seen slumping to 5-year lows
By Daryl Loo

SINGAPORE, March 17 (Reuters) - Singapore homes sales in February almost halved from the previous month, and could slump this quarter to the lowest since the SARS epidemic in 2003 as surging inflation and global economic fears keep buyers at bay.

The government on Monday said 170 private homes were sold in February, less than a tenth of the homes sold last August when Singapore was still in the midst of a two-year property upswing.

The abrupt slowdown this year is hitting shares for property developers but could take some pressure off inflation that is at the highest level in 25 years.
After January saw 316 homes sold, property analysts are predicting that total sales for the first three months of this year will be between 700-800 units, the weakest in five years.

"The only two other periods when the Singapore residential market experienced such low sales volume were during the SARS period in the first quarter of 2003 when 427 new homes were sold, and during the Asian financial crisis in the fourth quarter of 1997 when 894 units were sold," said Li Hiaw Ho, research director of property consultancy CB Richard Ellis.

So far the jury is out on how much the drop in demand has hit home prices. Private home prices in Singapore surged 31 percent last year to their highest in over ten years and near the peak of mid-1996 just before the Asian financial crisis.

High-end homes, typically those priced at above S$1,800 ($1,302) per square foot, saw the greatest jump, while the increase was more moderate for homes in the mass market segment.

But the price increase slowed in the fourth quarter as steps taken by the authorities to curb real estate market speculation took effect, including a move in October to bar developers from selling uncompleted homes on a deferred payment scheme.

"The sales figures for February were stunningly low... Buyers are becoming very conservative, although prices seem to have held up," said Jones Lang LaSalle research head Chua Yang Liang.

LAUNCH DELAYS

Reflecting the cautious mood, some developers have delayed their property launches, evident in the 343 units put up for sale in February, against 410 units in January and 445 in December.

KepLand, which is building the 221-unit Marina Bay Suites luxury apartments with Hong Kong Land and Cheung Kong, said in January that it would delay the project until the end of the Lunar New Year holiday in mid-February.
"We're still waiting for instructions to launch," said Margaret Thean, executive director of property agency DTZ, which has been appointed to market the project.

There have also been newspaper reports of property speculators who bought units last year with hopes of a speedy sale for a quick profit, but who are now being forced to sell at steep discounts due to the drop in demand. But it may not to be time to go bargain hunting just yet.

"While anecdotal evidence of lower transacted prices from desperate speculators looking to liquidate their positions have yet to be fully recognised by the entire market, the risk of a downward spiral effect in residential prices remains," Morgan Stanley analyst Melissa Bon said in a report this month.

"In addition, the bottoming out of private rental vacancies and likely peaking of rentals may put downward pressure on residential prices," she said.

The U.S. brokerage has downgraded CityDev to "underweight" for its exposure to the Singapore home market, and expects prices in the mid to high-end sectors to drop 15 percent this year, compared to its previous expectations for a 15 percent rise.

ABN AMRO analyst Fera Wirawan said homes catering to the mass market could still rise at least 5 percent as prices in this segment had not run up as much.

"It's all about sentiments now. Buyers are holding off in anticipation of a price cut. Even if developers refuse to decrease the price, especially in the high end, they can't hold out for long if the volumes stagnant like this," she said. (Editing by Neil Chatterjee)

Its all coming down for sure...

[Unregistered]

Singapore home sales seen slumping to 5-year lows
By Daryl Loo
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Its all coming down for sure...
Hey born loser!

Why keep muliplte-post your 3-week-old news anywhere?
Why not post a 3-month-old or 3-year-old news in all the threads?

Anyway, price increased by 4.2%. No old writing can change that.

Go post a 3-year-old news here. It may help you, loser!

[Unregistered]

how many sour grape eaters here?

[Unregistered]

how many sour grape eaters here?
No time to count.

Go count the number of times that 3-week-old article have been posted in this forum by the sour grape. That will be the number.

[Unregistered]

Its all coming down for sure...
IT IS BUDDY. ONLY IF YOU HAD POSTED IT 2 WEEKS AGO I WOULD STILL HAVE GOT 10% HIGHER. WHO WILL HELP ME NOW.
I AM STUCKKKKKK OHHHHHH STUCKKKKKK.

[Unregistered]

IT IS BUDDY. ONLY IF YOU HAD POSTED IT 2 WEEKS AGO I WOULD STILL HAVE GOT 10% HIGHER. WHO WILL HELP ME NOW.
I AM STUCKKKKKK OHHHHHH STUCKKKKKK.
Exactly!
Now you are stucked with a price increase of 4.2%. It was lower 2 weeks ago.

[Unregistered]

IT IS BUDDY. ONLY IF YOU HAD POSTED IT 2 WEEKS AGO I WOULD STILL HAVE GOT 10% HIGHER. WHO WILL HELP ME NOW.
I AM STUCKKKKKK OHHHHHH STUCKKKKKK.
Maddog/tigersee, the foreigner, don't reply your own message.

[Unregistered]

Maddog/tigersee, the foreigner, don't reply your own message.
Maddog/tigersee posting and replying. Please lah market going up why you cry? Unless you are not vested...

[Unregistered]

Maddog/tigersee posting and replying. Please lah market going up why you cry? Unless you are not vested...
Maddog/tigersee, the foreigner, don't reply your own message.

[Unregistered]

Maddog/tigersee posting and replying. Please lah market going up why you cry? Unless you are not vested...
4.2% is still up!
Huat Ah!

[Unregistered]

Maddog/tigersee, the foreigner, don't reply your own message.
Hey born loser!

Why keep muliplte-post your 3-week-old news anywhere?
Why not post a 3-month-old or 3-year-old news in all the threads?

Anyway, price increased by 4.2%. No old writing can change that.

Go post a 3-year-old news here. It may help you, loser!

[Unregistered]

Hey born loser!

Why keep muliplte-post your 3-week-old news anywhere?
Why not post a 3-month-old or 3-year-old news in all the threads?

Anyway, price increased by 4.2%. No old writing can change that.

Go post a 3-year-old news here. It may help you, loser!
Agree.

The current news now is property prices went up by 4.2% during the first 10 weeks of 2008.

Don't post any news here. Those are history.

[Unregistered]

IMF chief sees ‘major’ slowdown in global economy
Posted on April 4, 2008

INTERNATIONAL Monetary Fund managing director Dominique Strauss-Kahn said on Thursday he sees a ‘major’ slowdown in the global economy this year amid a credit market crisis.

‘What is certain is that the situation is very serious and that the slowdown in the United States, and subsequently in the rest of the world, is a slowdown that is going to be major,’ he said in an interview with AFP ahead of next week’s IMF and World Bank spring meetings.

‘It is not a catastrophic slowdown, but it is a major slowdown,’ he stressed, five months after becoming managing director of the 185-nation institution.

The IMF is set to cut a half point off its 2008 forecast for global economic growth to 3.7 per cent on Wednesday, Mr Strauss-Kahn said, confirming media reports but without providing further detail.

The IMF, whose mission is to promote global financial stability, is to publish its economic growth forecasts in its biannual World Economic Outlook report next Wednesday.

In January, the IMF projected the global economy would expand by 4.1 per cent and the US economy would grow by 1.5 per cent in 2008.

On Tuesday and Wednesday, media reports in Germany said the IMF would lower the global growth projection to 3.7 per cent and that of the US to 0.5 per cent.

The IMF and the World Bank hold their spring meetings on April 12-13 in Washington.

Mr Strauss-Kahn, a former French finance minister who will preside for the first time over the meetings, said that while the United States and European countries are the principal victims of the credit crunch, emerging countries, which have been a global pole of dynamic growth, would also be affected.

‘I am particularly concerned about the central European countries,’ he said, without identifying the vulnerable countries except to say they are members of the European Union.

Separating bad risks from good risks

To tackle the root of the credit crisis that stemmed from a meltdown in the US housing market, the IMF is mulling a structure that would isolate the risky assets from the rest of the financial system.

‘The way to get out of the crisis, is to effectively separate the bad risks from the good risks,’ Mr Strauss-Kahn.

That would allow a renewal of confidence and revive the interbank market, where credit flows are down to a trickle.

‘Today we have banks that no longer lend to each other because they lack confidence - that is what is freezing up the market,’ he said.

He said the crisis represent ‘a multilateral question, that is why the Fund has a particular role to play in the matter.’ To play such a role in the current crisis in any case offers a welcome visibility for the Washington-based institution, which is under fire as being obsolete, despite reforms it is undertaking.

On that point, Mr Strauss-Kahn called a ‘a very big political success’ a plan to reform the voting rights system approved by the IMF board last Friday to give more voice to the developing and emerging member nations but criticized as not going far enough.

‘If that step wasn’t taken, the institution’s reform would have been blocked for 15 years,’ he said.

The board voted to transfer 1.6 per cent points of voting rights from the developed countries to their developing and emerging peers.

The reform plan, in tripling the base voting rights - a measure that mainly benefits the poorest countries, ’soundly takes into consideration the existence of people above their economic weight,’ he said. — AFP

[Unregistered]

IMF says US will have growth of 0.5%.
Swee liao lor!

[Unregistered]

Industry watchers hope new Master Plan will include higher plot ratios

By Wong Siew Ying, Channel NewsAsia | Posted: 04 April 2008 0435 hrs


SINGAPORE : Higher plot ratios and integrated developments with greenery and other features are among the wish lists of industry players, who are anticipating significant changes to the government's new Draft Master Plan.

The master plan, expected to be released soon by the Urban Redevelopment Authority, will guide Singapore's land use over the next 10 to 15 years.

Buildings in Singapore may get even taller, if property players have their wish.

Topping the industry's wish list is higher plot ratios from the upcoming Draft Master Plan.

A higher plot ratio means a more intensive use of land, which analysts say will go some way to supporting a larger population base and encourage existing building owners to redevelop their property.

Chua Chor Hoon, Senior Director of Research at DTZ Debenham Tie Leung, said: "Many people would hope for the master plan plot ratio to be increased but I don't think that would be the case. I think there isn't really a need for the increase in plot ratio, unless there is some pressure for more space. If we intensify everything now, it will be very difficult to grow further in the future."

For now, industry watchers expect the Draft Master Plan 2008 to provide more details about growth areas that have been identified by the URA previously.

They are areas in Jurong, Paya Lebar, Kallang, Punggol and the Southern Ridges, which could support a range of residential, commercial and recreational activities.

Market players also hope to see more interesting urban form where the features, like greenery and canals, are incorporated into the development plan.

Analysts expect the government to continue to grow the Marina Bay area.

They say effects will also be made to enhance the Central Business District.

However, they are concerned that the parking problems in the CBD may be aggravated as old buildings make way for newer ones, which have fewer parking lots.

Other possible key areas include more spaces for tourism and recreation.

Industry players say sustainable economic development and the conservation of old buildings might also be on URA's cards. - CNA/de
Now that US will have growth of 0.5% and MasterPlan 2008 will be out soon. Better buy first.

[Unregistered]

Plot Ratio increase?Tan Ku ku

[Unregistered]

How to huat if nobody gives you money?

Major difference between previous peak and now - a lot of buyers in the market then and no buyers now. That's why at the previous peak, price crashed quickly when bad news came along because a lot of people overcommitted, including developers.

But this time, buyers are sitting at the side so price will slowly increase. When buyers start to cheong, the crash will come after that. If buyers don't cheong, then sellers have to think about rental or give some discount.

Very hard to predict either way.

[Unregistered]

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Thanks for the report.
This is only based on 10 weeks. The actual figure may be slightly more.

[Unregistered]

Now that US will have growth of 0.5% and MasterPlan 2008 will be out soon. Better buy first.
Dow Jones is continuing its uptrend. Huat ah!

[Unregistered]

Dow Jones is continuing its uptrend. Huat ah!
12.00pm, U.S. EDT

At midday, the U.S. stock market is trading with a slight gain. 6 of the 10 economic sectors are in the green. This is actually pretty decent.

[Unregistered]

12.00pm, U.S. EDT

At midday, the U.S. stock market is trading with a slight gain. 6 of the 10 economic sectors are in the green. This is actually pretty decent.
wah lau !! why keep going up ??

[Unregistered]

This is only based on 10 weeks. The actual figure may be slightly more.
Could be 4.7% to 5.0%.

[Unregistered]

April 6, 2008

PROPERTY

7 signs of a property slowdown

Buyers seem to be gaining ground again in the private homes market but consultants say it's far from crashing yet

By Joyce Teo, Property Correspondent


After rocketing to dizzying heights last year, the private homes market has stalled because of the global credit crunch - an external factor that took the market by surprise.

The withdrawal of the deferred payment scheme last year has also dampened demand somewhat.

Sales volumes and interest have fizzled out just as quickly as the market surged last year.

While many players hang on to the notion that strong fundamentals - low interest rates, for instance - will support the market, sentiment has fast melted away.

Is the property market slowing to a crawl? We examine the mounting evidence.

1 Growth in home prices weakens

The Urban Redevelopment Authority's (URA's) early estimate of first-quarter data showed a 4.2 per cent rise in private home prices against 6.8 per cent in the previous quarter and 31 per cent last year.

Consultants expect price growth to weaken. Prices, especially for high-end homes, might fall but not significantly as sellers are still reluctant to accept lower prices, said a seasoned property agent. 'There's no urgency to do so.'

2 Launches are held back

Developers have ample properties to sell but most continue to hold back launches. Some small ones have gone ahead but the response has been unimpressive.

With buyers and sellers choosing to remain on the sidelines as the global impact of a slowing United States economy remains uncertain, the market is largely quiet.

URA data showed that only 185 new private homes were sold in February, down from 328 in January. Last year, developers sold 14,811 new homes.

3 Collective sales have died down

This market is dead, for now at least, as developers stay away and new rules make it tougher for owners to sell en bloc.

So far this year, only one sale has been done compared with 26 in the first quarter of last year.

And one potential sale - that of Makeway View in Newton - was cancelled after the buyer, Bravo Building Construction, said it had found out that it would have to pay a higher-than-expected development charge.

Owners of some estates are starting to lower their price expectations.

Pinetree Condominium in Balmoral Park, for instance, was recently relaunched at a lower indicative price of $128 million - down from around $145 million last September, but still well above the 2006 price tag of $59 million.

4 Investor funds pull out or hold off

Islamic investment bank Kuwait Finance House, which agreed last December to buy 97 Goodwood Residence units for $818.4 million from GuocoLand, allowed the purchase option to lapse.

Both parties said last month that they were still in talks but did not provide clear reasons for the pullout. Industry sources had speculated that the fund's price - a record for the condo's area - was too high.

A recent DTZ Research report said some funds are holding off making investments, at least for the first half of this year, until the extent of the US slowdown and its global impact become clearer.

5 Sellers hand out discounts galore

In the resale market, sellers are getting more flexible. There are more desperate sellers in the market this year, property agents said.

Some want to sell one or two of their properties because they had bought some units under the deferred payment scheme, and payment is due in six months to a year, one agent said.

For new launches or sales of new units, some developers are also willing to give discounts when asked, while others offer stamp duty rebates to attract buyers.

6 Agents less sought after, ads dwindle

Property agents have more free time and are taking out fewer advertisements because of the poor response.

Last year, a seller's unit could be marketed by five to six agents, with the deal going to the agent who garnered the best price.

But this year, a seller might go with one agent, said HSR Property Group's executive director, Mr Eric Cheng.

On average, an ad for a reasonably priced unit could attract 12 to 15 calls last year. That is now down by half, he said. Prime, high-end homes have it worse, he added, noting that there could be no calls at all for some ads.

'I have not been advertising since Nov 15 because I could see sales volume falling,' said agent Andrew Soh.

7 Buyers toss in low bids to test the waters

Some developers have offered rather low bids in recent land tenders, which signals a slowing property market.

The Government in mid-March decided not to award a landed housing site in Jurong West as the bids were too low.

Then, the lowest bid for a Yishun condo site came in at just $95 per sq ft of potential gross floor area.

'The developers are pricing in the risks of falling prices,' said Knight Frank's director for consultancy and research, Mr Nicholas Mak.

'Given thin volume, they could also be hoping that there is no competition.'

Going forward, optimistic players are waiting for the market to regain some of its former glory in the next six months.

The pessimistic ones are prepared to ride out the whole year and possibly the next.

'If volume remains thin, there is a chance that private home prices might weaken this year, but the market is not expected to crash,' said Mr Mak.


The 8th sign is the loud thuds heard due to speculators jumping off high rises.

[Unregistered]

Could be 4.7% to 5.0%.
Around there. We will know in a few weeks' time.

[Unregistered]

Around there. We will know in a few weeks' time.
Huat liao lah!

[Unregistered]

Could be 4.7% to 5.0%.
I would like to know what this figure of 4.2% is.
Is it the PPI as defined here
http://app.mti.gov.sg/data/article/353/doc/ESS_2001Q1_PropertyIncome.pdf

if it is , and before everyone starts jumping, I'm not sure it is......... (are we clear?)

the formula is NOT based on actual property transactions!
figure is based on GDP, interest rates and stockmarket index. and apparently uses 12 quarters of data.

If this is the way the index is calculated, then you can see it is possible for this index to rise, even if actual property transactions fall.

Read the article , I would love to see the most recent data plotted this way, you can clearly see if we are experiencing a bubble or if prices are justified. Nice, non emotional , data driven.

[Unregistered]

IMF predicts global economic gloom

Story Highlights

IMF forecasts a slide into a recession in the U.S. amid global slowdown

IMF's World Economic Outlook predicts U.S. economic growth to slow to 0.5 percent

The organization also trimmed its projection for France, Britain, Germany and Japan

WASHINGTON (AP) -- The world economy will slow sharply this year, according to an International Monetary Fund forecast, with the United States sliding into a recession amid housing, credit and financial slumps.

The IMF, in a World Economic Outlook released Wednesday, slashed growth projections for the United States -- the epicenter of the woes -- and the global economy as a whole.

Economic growth in the United States is expected to slow to a crawl of just 0.5 percent this year, which would mark the worst pace in 17 years, when the country last suffered through a recession, the IMF said. The United States won't fare much better next year; the IMF projected the U.S. economy will grow by a feeble 0.6 percent in 2009.

"The U.S. economy will tip into a mild recession in 2008 as the result of mutually reinforcing cycles in the housing and financial markets," the IMF said.

Many private economists and members of the U.S. public believe the country has already fallen into its first recession since 2001. For the first time, Federal Reserve Chairman Ben Bernanke acknowledged last week that a recession was possible.

An increasing number of analysts think the U.S. economy, which grew by 2.2 percent in 2007, started shrinking in the first three months of this year and is still contracting. Under one rough rule, if the economy contracts for six straight months it is considered to be in a recession. A panel of experts at the National Bureau of Economic Research that determines when U.S. recessions begin and end, however, uses a broader definition, taking into account income, employment and other barometers.

To limit the damage, the Federal Reserve has been slashing interest rates since last September and has taken a number of extraordinary measures to avert a financial meltdown, which would have dire consequences for the U.S. economy.

"The financial market crisis that erupted in August 2007 has developed into the largest financial shock since the Great Depression," the IMF declared.

Looking at other countries, the IMF trimmed its projection for Germany, with economic growth slowing to 1.4 percent this year and weakening to 1 percent in 2009. In Britain, growth will slow to 1.6 percent this year and next. France also will see growth decelerate to 1.4 percent this year and 1.2 percent next year.

Japan's economy will expand by 1.4 percent this year and 1.5 percent next year, which would mark a loss of momentum from last year. Canada's growth would slow to 1.3 percent this year and pick up slightly to 1.9 percent next year.

Global powerhouse China, which barreled ahead at an 11.4 percent pace last year, would see growth moderate to 9.3 percent this year and then strengthen a bit to 9.5 percent next year. India, which grew by a blistering 9.2 percent last year, is expected to grow by 7.9 percent this year and 8 percent next year. Russia, which logged growth of 8.1 percent last year, will see growth moderate to 6.8 percent this year and then 6.3 percent next year.

Problems started in the United States with risky "subprime" mortgages made to people with blemished credit and quickly spread into other areas, hitting more creditworthy borrowers. Foreclosures in the U.S. hit record highs and financial companies racked up multibillion-dollar losses as mortgage-backed investments soured with the collapse of the U.S. housing market.

The fallout gripped investors on Wall Street and in other countries, creating a panicky atmosphere that threatened to paralyze financial markets in the United States and beyond.

Against that backdrop, the IMF now expects the world economy, which grew by a hardy 4.9 percent last year, to lose considerable momentum. The fund is projecting the global economy to grow by 3.7 percent this year and 3.8 percent next year.

"The global expansion is losing speed in the face of a major financial crisis," the IMF said.

There's a risk that things could turn worse, it cautioned.

"The IMF now sees a 25 percent chance that global growth will drop to 3 percent or less in 2008 and 2009 -- equivalent to a global recession," the fund said. "The greatest risk comes from the still-unfolding events in financial markets, particularly the potential for deep losses" on complex investments linked to the U.S. subprime mortgage market, the IMF said.

While the IMF is worried about the dangers of weakening global economic growth, it also expressed concern about the potential for inflation to heat up around the world, given sharp increases in energy and other commodity prices. "Risks related to inflationary pressures have risen," the fund said.

[Let's Multiple Post]

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[Unregistered]

you 2 idiots, stop posting the same message multiple times

[Unregistered]

you 2 idiots, stop posting the same message multiple times
administrator, please do something to these messages

[Unregistered]

PISSED MORONS DONT KNOW WHAT TO DO. SO FRUSTRATING TO SEE PRICE DROP...WOOOHAHAHAHAHA.

[Unregistered]

PISSED MORONS DONT KNOW WHAT TO DO. SO FRUSTRATING TO SEE PRICE DROP...WOOOHAHAHAHAHA.
PISSED MORONS DONT KNOW WHAT TO DO. SO FRUSTRATING TO SEE PRICE INCREASED IN Q1...WOOOHAHAHAHAHA.

[Unregistered]

http://www.afp.com/english/home/imgs/logo.gif
Singapore's GDP Rebounds By 16.9% In Q1
MAS moves to curb inflation as growth rebounds
Agence France-Presse
Singapore
Thursday, 10 April 2008

Singapore's central bank unexpectedly further tightened monetary policy on Thursday, pushing the Singapore dollar to a record high against the U.S. dollar, in a move aimed at keeping a lid on soaring prices.

Singapore's economy grew at an annualised, seasonally adjusted rate of 16.9% in the first quarter, beating economists' expectations, government data showed on Thursday, after a surprise 4.8% contraction in the fourth quarter of 2007.

The data beat a median forecast from economists polled by Reuters for growth of 11.5% because of a recovery in pharmaceutical and electronics manufacturing.

"The GDP figures were stronger than what the market had predicted and that gave the Monetary Authority confidence to tighten the policy," said Joseph Tan, an economist at Fortis.

"Strength of GDP quarter-on-quarter came from domestic sources. Where we go from here is a step in time approach but the one-up shift of the band, as opposed to the steepening of the Singapore dollar, shows that MAS recognises inflation is an imminent danger."

The Monetary Authority of Singapore conducts policy through the exchange rate, steering the Singapore dollar within a secret trade-weighted band against a basket of currencies, rather than by adjusting interest rates.

Growth Support

"Against backdrop of continuing external and domestic cost pressures, an upward shift of the policy band at this point will help to moderate inflation going forward, while providing support for sustainable growth in the economy," the central bank said in a twice-yearly monetary policy statement.

"MAS will therefore re-centre the exchange rate policy band at the prevailing level of the S$NEER. There will be no change to the slope or width of the policy band."

The Singapore dollar hit a record high, up 0.9% on the news to 1.3683 per U.S. dollar. The currency has gained around 5% this year.

Ten out of the 12 economists polled by Reuters had expected the MAS to refrain from tightening monetary policy due to concerns about slower economic growth.

The other two had expected the MAS to tighten policy to fight inflation, which stood at 6.5% in February. In January it hit 6.6%, the highest since March 1982.

The MAS said it expected inflation in the upper half of its 4.5% to 5.5% forecast range this year.

Singapore is one of the first Asian countries to report GDP data each quarter. The health of its exports is seen by analysts as a barometer of demand for Asian goods.

Despite concern about slower global growth, most central banks in Asia have refrained from easing monetary policy due to high inflation.

Some analysts said a stronger Singapore dollar would further cut demand for the island's exports by making them more expensive at a time when demand in the key U.S. market is weakening.

They also said a stronger Singapore dollar may not be as effective as before in reining in inflation because domestic factors such as a tight labour market, high wages and elevated property prices were factors as well.

The MAS tightened policy slightly at its last meeting in October as asset prices spiralled higher.

Singapore's economic growth is largely fuelled by manufacturing of products such as electronics, pharmaceuticals and oil rigs. However, the economy also relies increasingly on tourism, financial services and construction.
Wah lau! How come the analysts and economists are always wrong? How come they did not predict 16.9%? Don't understand them.

[Unregistered]

Wah lau! How come the analysts and economists are always wrong? How come they did not predict 16.9%? Don't understand them.
Hello! You think it is so easy to predict the economy?

[Unregistered]

Hello! You think it is so easy to predict the economy?
No need to argue. Just enjoy the 16.9% growth.

[Unregistered]

Wah lau! How come the analysts and economists are always wrong? How come they did not predict 16.9%? Don't understand them.
You can guess it's going up meh?

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Technology and retail stocks fuel rally
Kevin Plumberg
Reuters
New York, New York, U.S.
Thursday, 10 April 2008, 4:31PM EDT

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Traders on the floor of the New York Stock Exchange, 18 March 2008. - Photo: Brendan McDermid, Reuters

Stocks rose on Thursday after a brokerage upgrade of chip makers lifted technology stocks and on optimism that poor March sales may have been the low point for retailers this year.

Intel Corp shares jumped 3% and helped lift all three major U.S. stock indexes after Banc of America Securities upgraded the U.S. semiconductor sector, saying a modest inventory buildup has eased.

Retail shares rose as investors bet the business environment will improve should the current downturn reverse as expected in the second half of the year. The sector posted its weakest March monthly sales results for U.S. retailers in 13 years.

Shares of Wal-Mart climbed 1% after the world's largest retailer raised its outlook, citing expense controls and fewer markdowns. The stock gained in spite of Wal-Mart posting March same-store sales growth that fell short of Wall Street's expectations.

Tech shares also got a lift after JPMorgan Securities raised its profit forecasts on Apple Inc. The iPod maker's stock rose 2% and contributed the most to the Nasdaq 100's advance.

"If you're optimistic about growth in the second half, then what is tied to growth and most successful in times of growth? Technology," said Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co in San Francisco.

The Dow Jones industrial average was up 54.72 points, or 0.44%, ending the day at 12,581.98. The Standard & Poor's 500 Index was up 6.06 points, or 0.45%, finishing at 1,360.55. The Nasdaq Composite Index was up 29.58 points, or 1.27%, at 2,351.70.

General Electric Co rose 0.9% and was the second-biggest boost to the S&P on expectations that economic strength outside the United States would support the conglomerate's bottom line. GE closed at $36.75 on the NYSE.

An easing in lending markets since mid-March when the Federal Reserve backed JPMorgan Chase's takeover of Bear Stearns has comforted investors, who have been slowly regaining confidence in stocks.

Many investors have become more certain that the U.S. economy would slip into a recession during the first six months of 2008, but this has actually helped the stock market to recover.

"It is good because we have moved from totally unknown territory to one where we think we know what is going on," said Jan Loeys, global head of asset allocation with JPMorgan, on a conference call.

Wal-Mart's stock ended at $54.66, up 52 cents, or 1% on the New York Stock Exchange.

The Dow industrials also benefited from a positive outlook from an economic bellwether, DuPont Co.

DuPont's stock climbed 1.2% to $49.64 on the New York Stock Exchange after the chemical company raised its profit outlook and said strong growth in its agriculture businesses and emerging markets should help offset weakness in U.S. housing and automotive markets. For details, see

Adding to investor confidence, Goldman Sachs Group Inc Chief Executive Lloyd Blankfein said on Thursday that financial markets are likely in the late stages of the credit crisis that began last summer.

Intel's stock gained 3.1% to $22.08 on the Nasdaq.

Apple shares rose 2.1% to $154.55 after JPMorgan Securities raised its second-quarter and 2008 estimates for the company.

Volume on the New York Stock Exchange was modest with 1.29 billion shares changing hands, down from last year's daily average of 1.90 billion shares. On Nasdaq, 2.20 billion shares traded, slightly above last year's daily average of 2.17 billion.

Advancers beat decliners by a ratio of about 5 to 3 on the NYSE. On Nasdaq, about three stocks rose for every two that fell.