Wow! Correction today!!! S'pore shares fall over 3% Singapore share prices skidded 3.27 per cent on Wednesday as concerns over the troubled US sub-prime mortgage market spooked investors, dealers said.
The Straits Times Index dropped 115.95 points to 3,431.71 on volume of 4.94 billion shares worth $4.31 billion (US$2.85 billion). There were 110 rising issues, 1,014 losers and 442 issues were even.
But, to me it is a good time to buy, especially SPC in view of 0.20 dividend payable in Aug 22.
SML is announcing result tomorrow will also provide support. I will contra SML tomorrow
This correction caused some damages to my portfolio; but, I don't think it is serious enough for me to cut losses. Need to watch over it tightly especially in Aug - Sep period where STI is seasonally weak.
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