Friday, May 21, 2010

Market Daily -- 21st May 10

5. China Sports Target Cut To S$0.11 From S$0.18 By DBS Vickers

4. Singapore Exchange Target Cut To S$6.50 From S$7.00 By DMG

3.  Wilmar Target Cut To S$7.40 From S$8.20 By UOB KayHian

2. Neptune Orient Lines Target Raised To S$2.35 From S$1.85 By MS

1. WALL STREET: Worries over potential impact of euro zone on global economy sent stocks tumbling into first correction of bull market that began in March 2009. Dow down 376.36 points, or 3.6%, in biggest point drop since Feb. 10, 2009, and largest percentage drop since March 5, 2009. Dow off 10.2% from its 2010 closing high hit on April 26, meeting technical definition for correction. Nasdaq down 94.36 points, or 4.1%, biggest point drop since Dec. 1, 2008, biggest percentage decline since Feb. 17, 2009