China Gaoxian price hover around $0.42 and $0.425 and unlikely to fall below $0.405 here at SGX. This counter should receive good response from the Korean retail investors and should trade well about the listing price of $0.405 especially "it is notable that prominent institutioal investors to the KDRs include Morgan Stanley, Deutsche Bank, Nomura, Tong Yang Asset Management and Hana UBS which is a vote of confidence in the Group buiness and prospects"
Reentry at S$0.42 today and hope for a good CNY HongBao next Tuesday onwards.
Gaoxian is likely to trade at a higher price today for the simple reason that the Big Boys want Korean investors to get hopeful & excited at debut tomorrow.
If Gaoxian closes at 45 or more today, Korea will cheong tomorrow at debut.
Then it's a virtuous cycle, with Singapore market also feeling encouraged and the fun continues so long as the PE doesnt exceed 15 - which is where Gaoxian shoudl at least be saince it is the market leader in Korean textile industry.
That's why my crystal ball tells me. Maybe it is working well this morning, or maybe it is faulty as ever.......
Last edit: 13 years 10 months ago by niadmin. Reason: shorter title
Instead of focusing on the Korean Stock Exchange.... our SGX people should make use of Gaoxian listing there to promote all the S-chips... Tell them if you think Gaoxian at 9-10x PE is a steal.... then come and see the other S-chips... at 4-5x PE here.... like Taisan, Qingmei, Erata, etc...
it is also good that the KDR issue is over. Started to buy back the shares that i sold previously. Current price is about 7-8x PE taking into consideration of the issue of new shares in KDR. Look more expensive as compare to other S-chip now but don't forget that Gaoxian is a market leader in their field. I am buying for medium term investment and wait for the 4th Qtr result to bring back in the short term investors...