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ct12345

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- ct12345ct12345
  ·2023-03-29
  Herd mentality in play
  Wild Stock Market Reversals Put Dip-Buyers on Pace for Historic Year
  S&P 500 up an average 0.3% in sessions following down daysRisk-on mood buoys market, reviving stocks
  Wild Stock Market Reversals Put Dip-Buyers on Pace for Historic Year
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- ct12345ct12345
  ·2023-03-23
  COE are too expensive in Singapore
  Singapore Push for All-EV Future Faces a Love of Crazy, Rich Combustion
  Singaporean chip designer Eu Gene Goh is an electric-vehicle evangelist with two Teslas in the garag
  Singapore Push for All-EV Future Faces a Love of Crazy, Rich Combustion
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- ct12345ct12345
  ·2023-02-27
  $Tesla Motors(TSLA)$
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- ct12345ct12345
  ·2023-02-27
  $Tesla Motors(TSLA)$
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- ct12345ct12345
  ·2023-02-27
  $Tesla Motors(TSLA)$ should I continue to hold?
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- ct12345ct12345
  ·2022-10-30
  Thanks
  Sorry, this post has been deleted
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- ct12345ct12345
  ·2022-10-27
  $NIO Inc.(NIO)$
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- ct12345ct12345
  ·2022-10-02
  $JPMorgan Chase(JPM)$😭😭😭
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- ct12345ct12345
  ·2022-09-27
  $SPDR S&P 500 ETF Trust(SPY)$
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- ct12345ct12345
  ·2022-09-27
  $Tesla Motors(TSLA)$
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mentality in play","listText":"Herd mentality in play","text":"Herd mentality in play","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9941860614","repostId":"1179922061","repostType":2,"repost":{"id":"1179922061","kind":"news","pubTimestamp":1680131980,"share":"https://ttm.financial/m/news/1179922061?lang=&edition=full_marsco","pubTime":"2023-03-30 07:19","market":"us","language":"en","title":"Wild Stock Market Reversals Put Dip-Buyers on Pace for Historic Year","url":"https://stock-news.laohu8.com/highlight/detail?id=1179922061","media":"Bloomberg","summary":"S&P 500 up an average 0.3% in sessions following down daysRisk-on mood buoys market, reviving stocks","content":"<html><head></head><body><ul><li><p>S&amp;P 500 up an average 0.3% in sessions following down days</p></li></ul><ul><li><p>Risk-on mood buoys market, reviving stocks with shaky finances</p></li></ul><p>In the 2023 stock market, when one group of companies falls out of favor, another has usually been ready to take its place. The latest winner is firms with the riskiest credit, poised for their best week since January versus their sturdier-balance-sheet counterparts.</p><p>The outperformance is happening as credit-market stress eases, helping push the S&amp;P 500 up four of the last five days. It rose 1% Wednesday to fully erase its losses after the collapse of several regional banks three weeks ago.</p><p>The sudden popularity of firms with dicey credit is part of a larger pattern in equities this year where harried traders reliably find new vehicles to express bullish views. Past beneficiaries included tech megacaps, cruise lines and, at one point, even banks. The result has been that even as recession odds rise and Federal Reserve policymakers jack up rates, an old strategy — buying the dip — is enjoying by one measure its second-best year in a century.</p><p>“Whenever there is any form of crisis, people sell first and ask questions later. In this case they sold off lower credit quality, particularly during the SVB crisis,” George Patterson, chief investment officer at PGIM Quantitative Solutions. “When the panic recedes, then these names often rebound strongly. I’d view the relative performance of this pair as a barometer of how investors are thinking about the importance of credit quality. There is usually an over-reaction both on the way down and on the way up.”</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5a99f0e3f063787edb1d5edc3d45f37\" alt=\"Bargain Hunting Is Alive | 2023 is shaping up to be the second-best year for the dip-buying strategy\" title=\"Bargain Hunting Is Alive | 2023 is shaping up to be the second-best year for the dip-buying strategy\" tg-width=\"620\" tg-height=\"348\"/><span>Bargain Hunting Is Alive | 2023 is shaping up to be the second-best year for the dip-buying strategy</span></p><p> </p><p><em> </em></p><p>A Goldman Sachs Group Inc. basket of companies with weak balance sheets advanced for a fourth straight session, extending its gain this week to 3.3%. That compared with a weekly return of about 1% for a Goldman basket of companies with sturdy finances.</p><p>“Weak areas of the market may be seeing short covering or momentum trading that is looking for quick gains,” said Yung-Yu Ma, chief investment strategist at BMO Wealth Management. “Tightening lending standards will take some time to play out, so in the short-term there can be a lot of whipsaw action as traders position too far in one direction or another, especially in the face of such negative sentiment.”</p><p>The resurgence comes amid mounting signs corporate credit markets that seized up during the banking crisis are starting to heal. Ten companies sold bonds Monday, marking the fastest pace of issuance since Silicon Valley Bank collapsed. Another 10 deals went to market Tuesday. US high-grade sales prior to this week had totaled just $76 billion in March, about half the projected pace for the month.</p><p>The freeze in the high-yield primary bond market also showed signs of thawing, with one issuer pricing a deal Tuesday at terms that indicated demand still remains intact. The offering was the first since March 2 in the junk-bond market. </p><p>“Investors are encouraged by a few days in which no new significant banking related contagion is emerging,” said Que Nguyen, chief investment officer of equity strategies at Research Affiliates. “Markets had been pricing in an eventual Fed pause or easing which reduces pressure on debt-dependent companies, allowing for speculation to the upside.”</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a483a3cf83ddd9f41b93867e382ad50c\" alt=\"Credit Angst Easing | Leverage is back in favor among equity investors\" title=\"Credit Angst Easing | Leverage is back in favor among equity investors\" tg-width=\"620\" tg-height=\"348\"/><span>Credit Angst Easing | Leverage is back in favor among equity investors</span></p><p> </p><p><em> </em></p><p>To be sure, the rebound may be nothing more than a temporary risk-on move that is lifting large sections of the market. For bulls, the good news is, big money managers who have slashed equity exposure and raised cash holdings appear to be looking for opportunities to put that money to work. </p><p>The fear of missing out on the next big rally is leading to a replay of the dip-buying impetus during the 2020 bull run. The S&amp;P 500 has gained an average 0.3% following any down days this year, on pace for the second-biggest rebound in data going back to 1927. </p><p>Still, at 4,028, the S&amp;P 500 has not strayed far from the midpoint of this year’s trading range. To Andrew Adams at Saut Strategy, it’s too early to become an aggressive buyer despite the resilience equities have put on in the face of the banking chaos and Fed tightening. Yet, he’s prepared to change gears should he prove wrong. </p><p>“The market has not broken out higher, by any means, but it also has not crashed even though it’s had plenty of chances to do so,” Adams said. “I also firmly believe the market tends to do whatever will surprise the most people to catch them leaning the wrong way. Based on sentiment — both anecdotally and via surveys — as well as positioning, a rally would be the most surprising outcome here.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wild Stock Market Reversals Put Dip-Buyers on Pace for Historic Year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWild Stock Market Reversals Put Dip-Buyers on Pace for Historic Year\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-30 07:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-03-29/wild-stock-reversals-leave-dip-buyers-on-brink-of-historic-year?srnd=premium><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>S&P 500 up an average 0.3% in sessions following down daysRisk-on mood buoys market, reviving stocks with shaky financesIn the 2023 stock market, when one group of companies falls out of favor, ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-03-29/wild-stock-reversals-leave-dip-buyers-on-brink-of-historic-year?srnd=premium\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/news/articles/2023-03-29/wild-stock-reversals-leave-dip-buyers-on-brink-of-historic-year?srnd=premium","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179922061","content_text":"S&P 500 up an average 0.3% in sessions following down daysRisk-on mood buoys market, reviving stocks with shaky financesIn the 2023 stock market, when one group of companies falls out of favor, another has usually been ready to take its place. The latest winner is firms with the riskiest credit, poised for their best week since January versus their sturdier-balance-sheet counterparts.The outperformance is happening as credit-market stress eases, helping push the S&P 500 up four of the last five days. It rose 1% Wednesday to fully erase its losses after the collapse of several regional banks three weeks ago.The sudden popularity of firms with dicey credit is part of a larger pattern in equities this year where harried traders reliably find new vehicles to express bullish views. Past beneficiaries included tech megacaps, cruise lines and, at one point, even banks. The result has been that even as recession odds rise and Federal Reserve policymakers jack up rates, an old strategy — buying the dip — is enjoying by one measure its second-best year in a century.“Whenever there is any form of crisis, people sell first and ask questions later. In this case they sold off lower credit quality, particularly during the SVB crisis,” George Patterson, chief investment officer at PGIM Quantitative Solutions. “When the panic recedes, then these names often rebound strongly. I’d view the relative performance of this pair as a barometer of how investors are thinking about the importance of credit quality. There is usually an over-reaction both on the way down and on the way up.”Bargain Hunting Is Alive | 2023 is shaping up to be the second-best year for the dip-buying strategy  A Goldman Sachs Group Inc. basket of companies with weak balance sheets advanced for a fourth straight session, extending its gain this week to 3.3%. That compared with a weekly return of about 1% for a Goldman basket of companies with sturdy finances.“Weak areas of the market may be seeing short covering or momentum trading that is looking for quick gains,” said Yung-Yu Ma, chief investment strategist at BMO Wealth Management. “Tightening lending standards will take some time to play out, so in the short-term there can be a lot of whipsaw action as traders position too far in one direction or another, especially in the face of such negative sentiment.”The resurgence comes amid mounting signs corporate credit markets that seized up during the banking crisis are starting to heal. Ten companies sold bonds Monday, marking the fastest pace of issuance since Silicon Valley Bank collapsed. Another 10 deals went to market Tuesday. US high-grade sales prior to this week had totaled just $76 billion in March, about half the projected pace for the month.The freeze in the high-yield primary bond market also showed signs of thawing, with one issuer pricing a deal Tuesday at terms that indicated demand still remains intact. The offering was the first since March 2 in the junk-bond market. “Investors are encouraged by a few days in which no new significant banking related contagion is emerging,” said Que Nguyen, chief investment officer of equity strategies at Research Affiliates. “Markets had been pricing in an eventual Fed pause or easing which reduces pressure on debt-dependent companies, allowing for speculation to the upside.”Credit Angst Easing | Leverage is back in favor among equity investors  To be sure, the rebound may be nothing more than a temporary risk-on move that is lifting large sections of the market. For bulls, the good news is, big money managers who have slashed equity exposure and raised cash holdings appear to be looking for opportunities to put that money to work. The fear of missing out on the next big rally is leading to a replay of the dip-buying impetus during the 2020 bull run. The S&P 500 has gained an average 0.3% following any down days this year, on pace for the second-biggest rebound in data going back to 1927. Still, at 4,028, the S&P 500 has not strayed far from the midpoint of this year’s trading range. To Andrew Adams at Saut Strategy, it’s too early to become an aggressive buyer despite the resilience equities have put on in the face of the banking chaos and Fed tightening. Yet, he’s prepared to change gears should he prove wrong. “The market has not broken out higher, by any means, but it also has not crashed even though it’s had plenty of chances to do so,” Adams said. “I also firmly believe the market tends to do whatever will surprise the most people to catch them leaning the wrong way. Based on sentiment — both anecdotally and via surveys — as well as positioning, a rally would be the most surprising outcome here.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":910,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9943494565,"gmtCreate":1679614339257,"gmtModify":1679614342972,"author":{"id":"4098685515539820","authorId":"4098685515539820","name":"ct12345","avatar":"https://static.tigerbbs.com/06c341700f20d7de3704332767877d06","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4098685515539820","idStr":"4098685515539820"},"themes":[],"htmlText":"COE are too expensive in Singapore","listText":"COE are too expensive in Singapore","text":"COE are too expensive in Singapore","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9943494565","repostId":"1105351613","repostType":4,"repost":{"id":"1105351613","kind":"news","pubTimestamp":1679613868,"share":"https://ttm.financial/m/news/1105351613?lang=&edition=full_marsco","pubTime":"2023-03-24 07:24","market":"sg","language":"en","title":"Singapore Push for All-EV Future Faces a Love of Crazy, Rich Combustion","url":"https://stock-news.laohu8.com/highlight/detail?id=1105351613","media":"Reuters","summary":"Singaporean chip designer Eu Gene Goh is an electric-vehicle evangelist with two Teslas in the garag","content":"<html><head></head><body><p>Singaporean chip designer Eu Gene Goh is an electric-vehicle evangelist with two Teslas in the garage.</p><p>But the car-tech enthusiast is also not ready to give up his S$1.6-million ($1.21 million) McLaren 765LT with a V8 engine capable of hitting 100 km per hour (62 miles per hour) in three seconds.</p><p>The city-state&#39;s bid to stop the purchase of combustion-engine cars from 2030 has bumped up against an entrenched love of supercars, ultra-luxury rides and buyers with enough income to keep them in one of the most expensive places in the world to own a car.</p><p>Singapore&#39;s target of phasing out combustion car sales by 2030 puts it in a small group of countries with that near-term goal, including Iceland, Sweden and the Netherlands, but sales of electric cars in those markets have picked up faster.</p><p>The Singapore government has been pushing electric vehicles (EVs) for two years, offering incentives of up to S$45,000 and expanding the charging network, but take-up by individual buyers will need to vastly accelerate to hit the target.</p><p>EV made up almost 12% of all car sales in Singapore last year, up from almost 4% in 2021, according to the Land Transport Authority.</p><p>Still, EVs represented just 1% of cars on the road, a Reuters analysis of ownership data found. By comparison, combustion sports cars in a city where the Formula 1 Grand Prix is one of the biggest events of the year made up 1.65% of the almost 653,000 registered vehicles.</p><p>In Singapore, a small island with an extensive public transport system, only about 12 cars are owned per 100 people. That compares to 9 per 100 in Hong Kong and 82 in the U.S.</p><p>One factor is price: it costs at least S$88,000 for the right to own a small car for a decade, excluding the vehicle&#39;s cost in Singapore, a system that has driven luxury sales.</p><p>Over the past decade, the number of Ferraris in Singapore has grown by 67% and Lamborghinis by 38%. The number of McLarens has grown more than five-fold to 180 since 2012, the data shows. There are almost five times more Porsches on the road than Teslas.</p><p>&#34;Basically, the entire market has moved upscale,&#34; said Singapore-based transport economist Walter Theseira.</p><p>Singapore&#39;s preference for luxury and performance cars was a function of rising wealth among a cohort of residents while lower-income people were priced out car ownership, he added.</p><p>HSBC estimates 13% of Singaporeans may be millionaires by 2030, the highest share in the world.</p><p><b>Perfect Showcase For EVs</b></p><p>A charity auction of 100 limited-edition &#34;made in Singapore&#34; Hyundai Ioniq 5s earlier this year managed to sell only half of the special-edition EVs embossed with the city&#39;s Merlion mascot.</p><p>Hyundai said it was &#34;encouraged to see the result, considering the unfamiliarity and newness&#34; of the EV, but declined to say how much the auction had raised.</p><p>Markus Schuster, managing director at Audi Singapore, believes EVs will constitute the majority of new car sales as early as 2025 or 2026 as more premium models like Audi&#39;s Q8 e-tron and Q4 e-tron hit the market.</p><p>&#34;As a showcase for EVs, the city is perfect,&#34; he said.</p><p>Singapore drivers average just 30 km a day and do not have the same kind of &#34;range anxiety&#34; as drivers in the U.S. and Europe, Schuster added.</p><p>The government plans to build 60,000 charging points by 2030, up from 1,600 now, which Schuster believes will be a tipping point to achieve the 2030 target.</p><p>Goh, the McLaren owner, is already an EV convert. He loves that he doesn&#39;t have to keep the engine running on school pick-ups and that the cost for charging his Tesla Model 3 last year was under S$700 for 11,000 km of driving.</p><p>&#34;For a daily driver, I wouldn&#39;t go back to a normal petrol car,&#34; he said.</p><p>But Goh is keeping his McLaren for now so he can enjoy the car&#39;s performance on a race track he visits in Malaysia.</p><p>&#34;I like technology and I find supercars, especially McLarens, it&#39;s like taking technology and art and putting it together,&#34; he said. </p><p>($1 = 1.3264 Singapore dollars)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Push for All-EV Future Faces a Love of Crazy, Rich Combustion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Push for All-EV Future Faces a Love of Crazy, Rich Combustion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-24 07:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/singapore-push-ev-future-faces-230000792.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Singaporean chip designer Eu Gene Goh is an electric-vehicle evangelist with two Teslas in the garage.But the car-tech enthusiast is also not ready to give up his S$1.6-million ($1.21 million) McLaren...</p>\n\n<a href=\"https://finance.yahoo.com/news/singapore-push-ev-future-faces-230000792.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/singapore-push-ev-future-faces-230000792.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105351613","content_text":"Singaporean chip designer Eu Gene Goh is an electric-vehicle evangelist with two Teslas in the garage.But the car-tech enthusiast is also not ready to give up his S$1.6-million ($1.21 million) McLaren 765LT with a V8 engine capable of hitting 100 km per hour (62 miles per hour) in three seconds.The city-state's bid to stop the purchase of combustion-engine cars from 2030 has bumped up against an entrenched love of supercars, ultra-luxury rides and buyers with enough income to keep them in one of the most expensive places in the world to own a car.Singapore's target of phasing out combustion car sales by 2030 puts it in a small group of countries with that near-term goal, including Iceland, Sweden and the Netherlands, but sales of electric cars in those markets have picked up faster.The Singapore government has been pushing electric vehicles (EVs) for two years, offering incentives of up to S$45,000 and expanding the charging network, but take-up by individual buyers will need to vastly accelerate to hit the target.EV made up almost 12% of all car sales in Singapore last year, up from almost 4% in 2021, according to the Land Transport Authority.Still, EVs represented just 1% of cars on the road, a Reuters analysis of ownership data found. By comparison, combustion sports cars in a city where the Formula 1 Grand Prix is one of the biggest events of the year made up 1.65% of the almost 653,000 registered vehicles.In Singapore, a small island with an extensive public transport system, only about 12 cars are owned per 100 people. That compares to 9 per 100 in Hong Kong and 82 in the U.S.One factor is price: it costs at least S$88,000 for the right to own a small car for a decade, excluding the vehicle's cost in Singapore, a system that has driven luxury sales.Over the past decade, the number of Ferraris in Singapore has grown by 67% and Lamborghinis by 38%. The number of McLarens has grown more than five-fold to 180 since 2012, the data shows. There are almost five times more Porsches on the road than Teslas.\"Basically, the entire market has moved upscale,\" said Singapore-based transport economist Walter Theseira.Singapore's preference for luxury and performance cars was a function of rising wealth among a cohort of residents while lower-income people were priced out car ownership, he added.HSBC estimates 13% of Singaporeans may be millionaires by 2030, the highest share in the world.Perfect Showcase For EVsA charity auction of 100 limited-edition \"made in Singapore\" Hyundai Ioniq 5s earlier this year managed to sell only half of the special-edition EVs embossed with the city's Merlion mascot.Hyundai said it was \"encouraged to see the result, considering the unfamiliarity and newness\" of the EV, but declined to say how much the auction had raised.Markus Schuster, managing director at Audi Singapore, believes EVs will constitute the majority of new car sales as early as 2025 or 2026 as more premium models like Audi's Q8 e-tron and Q4 e-tron hit the market.\"As a showcase for EVs, the city is perfect,\" he said.Singapore drivers average just 30 km a day and do not have the same kind of \"range anxiety\" as drivers in the U.S. and Europe, Schuster added.The government plans to build 60,000 charging points by 2030, up from 1,600 now, which Schuster believes will be a tipping point to achieve the 2030 target.Goh, the McLaren owner, is already an EV convert. He loves that he doesn't have to keep the engine running on school pick-ups and that the cost for charging his Tesla Model 3 last year was under S$700 for 11,000 km of driving.\"For a daily driver, I wouldn't go back to a normal petrol car,\" he said.But Goh is keeping his McLaren for now so he can enjoy the car's performance on a race track he visits in Malaysia.\"I like technology and I find supercars, especially McLarens, it's like taking technology and art and putting it together,\" he said. 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