Friday, May 29, 2009
Cosco
 Cosco broke out upside with high volume today. There is a gap at $1.30 to be filled. Next resistance is $1.39 (23.6% fibonacci retracement and recent high). Not an inducement to trade. Corporate profile : COSCO Corporation (Singapore) Limited ("COSCO Corporation" or the "Group") has one of the largest Ship Repair, Ship Building and Marine Engineering operations in China. A diversified group with activities also in Dry Bulk Shipping, Shipping Agency and other sectors, it is the SGX Mainboard-listed subsidiary of China Ocean Shipping (Group) Company ("COSCO Group"), China's largest shipping group and one of the top shipping conglomerates in the world. COSCO Corporation has achieved significant progress in growing its Ship Repair, Ship Building and Marine Engineering capacity and capabilities. The completion of its acquisition of a 51% stake in one of the largest shipyards in China, COSCO Shipyard Group ("COSCO Shipyard"), on 1 January 2005 had propelled COSCO Corporation into the premier league in the ship repair industry. COSCO Corporation is poised to continue in its dynamic growth momentum for further breakthrough in its core businesses and global coverage. COSCO Corporation is a component stock in the Straits Times Index, which comprised of the 30 largest listed companies in terms of market capitalisation in Singapore. In October 2006, COSCO Corporation was rated as a component stock of Prime Partners China Index - the first index that tracks the performance of China enterprises listed on the SGX. Since January 2008, we have been part of the FTSE ST China Index, and from July 2008, we were also included in the FTSE ST China Top Index, both of which were created to reflect the increasing representation of China-based companies in the Singapore stock market. Among other indexes, we are also a component stock of the Morgan Stanley Capital International World Index as well as the SGX Morgan Stanley Capital International Asia Apex 50 Index Futures which feature some of the most promising, widely-traded and investible Asian companies outside Japan. |
posted by stockpicking at 10:41 PM
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