SPH is back in favor as prices of newsprint seem to have peaked
Article Abstract:
Securities analysts recommend Singapore Press Holdings Ltd.'s (SPH) blue-chip stocks because they believe that newsprint prices have peaked, presaging a drop in newspaper publishing costs. Newsprint cost around $500 per ton in 1994. SPH has recently contracted to buy newsprint at the current market price of $800 per ton, which is lower than what it had to pay in the recent past, while analysts are expecting newsprint prices to go up to $1,000 per ton in 1996. SPH has a virtual monopoly of newspaper readership and print advertisers with its seven daily newspapers. It is also recovering from a stock-price slump which began in early 1995.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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Chinese textile company spins tale of woe for investors
Article Abstract:
The experience with Shanghai No. 2 Textile Machinery Company Ltd.'s securities teaches important lessons on the differences between China's emerging stock market and Western countries' mature stock markets. Sales and profits at Shanghai No. 2, a manufacturer of yarn-spinning machinery, has been dwindling as the government's credit squeeze and soaring raw-material prices prevent customers from buying machinery. Recovery play was doubtful because the entire Chinese economy is in transition. Moreover, the company's stock is trading at 25.7 times forecast 1995 earnings despite having plunged by 80% from its 1993 peak.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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Analysts in colony are less sanguine than U.S. firms about market's trend
Article Abstract:
Morgan Stanley and Company Inc., Merrill Lynch and Company Inc. and other US brokerage firms have been aggressively promoting Hong Kong stocks and are largely responsible for pushing the Hang Seng Index to 9883.78 points in Sep. 1995. In contrast, Peregrine Brokerage Ltd., Jardine Fleming Securities Ltd. and other top brokerage firms in Hong Kong are cautious about Hong Kong stocks in the belief that the market is driven more by sentiment than market fundamentals. These contrasting beliefs are based on different expectations of the property market, China's monetary policy and US interest rates.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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