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Latest Posts By WanSiTong
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| 28-Nov-2016 15:01 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Singapore Marine Stocks Down After Market Digests Government Aid Plans Key offshore marine and engineering services stocks on the Singapore Exchange are down with the market appearing to have digested the news that the city-state is taking steps to help the industry financially. Singapore on Friday announced steps to financially aid the ailing marine and offshore engineering industry, with several companies struggling to stay afloat amid low oil prices and weak demand. The news drove the shares of the companies in the offshore space up in the last session. But on Monday, the stocks are broadly trading lower, also weighed down by the drop in oil prices amid uncertainty ahead of the Wednesday OPEC meeting.   |
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| 28-Nov-2016 10:45 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Asia Shares, Currencies React to Expected OPEC Unravelling Expectations that an OPEC production deal was unravelling dominated Asian trade Monday, adding volatility to regional stocks and currencies. Officials of the Organization of the Petroleum Exporting Countries said Saudi Arabian oil officials will not attend a Monday meeting with Russia and others ahead of the closely watched OPEC meeting Wednesday. Japan' s Nikkei was down 0.8% and Australia' s S & P / ASX 200 was down 0.4%, while Hong Kong' s Hang Seng was up 0.5%. The price of Brent crude, a global benchmark, fell 3.6% on Friday. This showed the market was starting to price in a failure at this week' s meeting, said Ric Spooner, chief market analyst at CMC Markets. Brent crude was down 0.4% in Early Asia trade Monday. " We could see a big rally if they see a plausible agreement [on a production cut]," said Mr. Spooner. " But assuming that OPEC does not agree, for the next few months it does set up for a lower oil price [ In the] high 30s to low 40s range. We' ve still got big inventories and supply overhang. The oil gloom hit Asia' s biggest energy stocks. In Australia, Woodside Petroleum was down 2.5% and BHP Billiton was down 2.3% (petroleum is BHP' s second biggest division). The Japanese oil explorer Inpex was down 1.7% and in Hong Kong the Chinese oil Major Cnooc fell 1.4%. The drop in oil prices is hitting U.S. inflation expectations, which has pulled down U.S. Treasury yields, which has finally knocked back a lengthy dollar rally. The Hang Seng was up 0.5% after news Friday that the trading link connecting the Shenzhen and Hong Kong stock exchanges will open Dec. 5, allowing foreigners to invest in China' s fastest-growing companies. Other important market events this week include the release of U.S. jobs figures and purchasing managers' indexes, including the US ISM manufacturing PMI data due out Thursday.   Asian Indexes
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| 28-Nov-2016 09:20 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Hong Kong Shares Expected to Rise on Shenzhen Connect News   Hong Kong shares are expected to open higher Monday with Hang Seng futures up 0.7%. On Friday, Chinese authorities said a trading link connecting the Shenzhen and Hong Kong stock exchanges will open on December 5, allowing foreigners to invest in more than 800 of China' s fastest-growing companies. But Hong Kong is expected to benefit as much as Chinese investors, worried about a falling yuan at home, expected to drive up valuations ahead of the trading link as well as afterwards, says HSBC. Investments from China accounted for a maximum 20% and 35% of the Hang Seng' s market turnover and the H-share index, respectively, and the broker expects these numbers to eventually surpass 50%. Fast churning Chinese investors are expected to push up small cap stocks of Chinese firms, says HSBC. Most Chinese ADRs gained Friday. |
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| 28-Nov-2016 09:06 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Asia markets slip Nikkei drops 0.5%, ASX, Kospi down 0.2% Asian markets started the week on the back foot, trading lower as the greenback starts to soften and oil prices slip. Energy shares will also likely be in focus after Saudi Arabia said it would not attend talks on Monday with non-OPEC members to discuss production cuts. US crude futures were down 1.3 percent at $ 45.47 a barrel, while Brent futures dropped 1.59 percent at $ 46.49. Both had settled down by more than 3 percent on Friday in the US after Reuters reported that Saudi Arabia would not attend a meeting Of non-OPEC producers on Monday, where production levels are on the agenda. On Sunday, Saudi Arabia' s energy minister Khalid al-Falih said he believed the oil market would balance itself in 2017 even if producers did not intervene, and that keeping output at current levels could therefore be justified. He said that Saudi Arabia was not attending the Monday meeting because OPEC members themselves had not agreed on production levels.   Asian Indexes
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| 28-Nov-2016 09:02 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Stocks To Watch ISR Capital, OCBC, Keppel, Jumbo, AGV, Natural Cool   |
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| 26-Nov-2016 15:08 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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  ![]() Several offshore and marine firms in Singapore, such as Swiber Holdings, have been hit by the oil market slump.PHOTO: SWIBER HOLDINGS   |
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| 26-Nov-2016 15:03 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Offshore marine sector gets govt financing aid Two schemes offering funds and bridging aim to stabilize the industry Help is at hand for marine and offshore engineering firms here battered by persistently low oil prices and a weak global economy. The Ministry of Trade and Industry (MTI) yesterday unveiled two measures to give the sector a financial shot in the arm as it reels from bond defaults and heavy debt. One measure involves a dramatic boost to trade agency IE Singapore' s finance scheme for the sector. The other is the reintroduction of Spring Singapore' s bridging loan scheme, said a joint statement by the MTI, IE Singapore and Spring. Both schemes aim to help marine and offshore firms - from shipyards to offshore services providers, as well as oil and gas equipment and services companies and their suppliers - gain access to vital working capital and financing. Funds available under IE Singapore' s internationalization finance scheme, which provides project or asset financing support for companies, will be more than doubled to $ 70 million per borrower group from the current $ 30 million. The bridging loan scheme will help Singapore-based firms borrow up to $ 5 million each for a maximum of six years to finance operations and bridge short-term cash flow gaps. The maximum loan for each borrower group is $ 15 million. The Government will take on 70 per cent of risk for both schemes. The one-off measures, developed in consultation with industry players, aim to stabilize the sector. " These targeted measures aim to help preserve the marine and offshore engineering industry' s core capabilities which have been built up over the years and will be important to seize future opportunities," Minister for Trade and Industry (Industry) S. Iswaran said. Will continue to monitor the economy closely and stands ready to act if necessary. " The oil market slump has affected companies in Singapore, a hub for shipbuilding and offshore support firms. Oil services firm Swiber Holdings went into judicial management this month. The Singapore Business Federation (SBF) said the measures are timely. " It is uncommon for the Government to target financial support for a specific sector. That it is doing so now for the marine and offshore engineering sector reflects the gravity of the situation," Said SBF chief executive Ho Meng Kit. But he advised the industry not to see the relief as a silver bullet which would solve the industry' s woes. Berlitz Offshore & Marine Group' s chief executive Chan Kern Miang hailed the schemes as a " practical and visionary" move by the Government to address the needs of firms in the sector, particularly the smaller players. " Our hope is for participating financial institutions to align their Internal assessment benchmark with the overall objective of these schemes, that they will be willing to nurse struggling companies back to health and be part of their recovery - and even growth story. The schemes will be available from next month and could lead to about $ 1.6 billion of one year.   |
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| 26-Nov-2016 14:58 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Oil falls US $ 2 a barrel on Opec cut uncertainty ahead of meeting US crude fell nearly 4 per cent on Friday, dragged down by uncertainty over whether the Organization of the Petroleum Exporting Countries will reach an output deal, after Saudi Arabia said it will not attend talks on Monday with non-Opec producers to discuss supply cuts. Brent crude futures settled at US $ 47.24 a barrel, down US $ 1.76 or 3.59 per cent. US crude futures settled down US $ 1.90 a barrel at US $ 46.06, a 3.96 per cent decline. Prices continued to decline in post-settlement trading, dropping as low As US 45.88 a barrel. US crude ended the week up 13 US cents a barrel, after trading between US $ 45.77 and US $ 49.20 a barrel. Brent crude rose 20 US cents during the week and traded in a range of US $ 46.85 and US $ 49.96 a barrel. Overall activity on both contracts was thin after the US Thanksgiving holiday and ahead of the weekend. Top Opec oil exporter Saudi Arabia has told the producer group it will not attend talks on Monday with non-Opec producers to discuss limiting supply, Opec sources said, as it wants to focus on having consensus within the organization first. " I think Saudi' s announcement it would not to go to the meeting drove the initial sell-off," said Tariq Zahir, managing member at Tyche Capital in New York. " There has to be a substantial cut and it has to be something that the street will believe." Russia still plans to attend lower-tier talks on Nov 28 in Vienna ahead of the Opec ministerial meeting on Nov 30, a Russian source familiar with the matter told Reuters. Reports that state oil giant Saudi Aramco would in January increase oil supplies to some Asian customers also cast a shadow on markets, traders said. A decline in China' s October crude oil imports to their lowest on a daily basis since January added to the bearish tone. But analysts said fundamentals were little changed - apart from concerns over the fate of next week' s deal. Bjarne Schieldrop, chief commodities analyst with SEB Bank in Oslo said prices could rebound if the Nov 30 meeting succeeded in reaching a targeted production cap of 32.5 million to 33.0 million barrels per day (bpd), from the 33.64 million bpd the group pumped in October . On Thursday, the oil minister of non-Opec nation Azerbaijan said Opec was also pushing oil producers outside the group to make big cuts in output. Most stocks expect some form of cut, but it is uncertain whether that would be enough to prop up a market dogged by oversupply since 2014. " Oil market reaction will hinge on the credibility of the proposed action," US investment bank Jefferies said, adding recent output increases to record levels in many countries now required a deep cut to lift prices significantly. " The surge in Opec output since August has shifted the market back into oversupply and re-balancing will be deferred until the second half of 2017 without a cut of at least 700,000 barrels per day." REUTERS   |
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| 26-Nov-2016 08:23 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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  Stocks post 3-week win streak as major indexes post record highs U.S. equities closed higher on Friday, posting weekly gains, as investors kept an eye on retailers during Black Friday as a post-election rally moved forward. " I think this more of a follow-through" from the bullish sentiment in the market after the election, " said David Schiegoleit, managing director of investments at US Bank Private Client Reserve." The rally might be getting a bit long, but the Market will be looking for policy direction " from the government in the near term. " The Trump honeymoon continues. The focus now shifts to Black Friday and holiday sales," said Peter Cardillo, chief market economist at First Standard Financial. However, he said " whatever happens today will be on light volume" because several investors and traders were Out celebrating the Thanksgiving holiday in the US The major U.S. stocks indexes have been on a tear lately, ripping to new record highs on optimism that President-elect Donald Trump' s proposed policies would stimulate economic growth. " From a technical perspective, it like like we' re going higher, ... but we' re bound to hit a road block," said First Standard' s Cardillo, who noted that, while the market has priced in a December Federal Reserve rate Hike, it may not have priced in more aggressive tightening by the central bank. According to the CME Group' s FedWatch tool, market expectations for a rate hike next month are more than 90 percent. On the data front, U.S. Commerce deficit total $ 62 billion in October. The November read on the IHS Markit non-manufacturing index came at 54.7, marginally lower than the October read of 54.8. " Service sector activity was supported by the fastest rise in incoming new orders for 12 months, alongside greater efforts to reduce work-in-hand. The fall in backlogs of work was the first since June, and partly reflected a sustained upturn in staff hiring , " IHS Markit said. In oil markets, US crude futures for January delivery fell 3.1 percent to $ 46.48 per barrel as uncertainty about whether OPEC can agree on a production cut weighed on prices. Overseas, European equities traded slightly higher, with the Stoxx Europe 600 index rising 0.18 percent. In Asia, stocks closed mostly higher, with the Nikkei 225 gaining 0.26 percent and the Shanghai composite advancing 0.62 percent. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded lower, near 12.3. Gold futures for December delivery fell $ 10.90 to $ 1,178.40 per ounce. Read more ...   |
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| 25-Nov-2016 17:39 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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European markets mixed Wall Street reopens U.S. stock index futures pointed to a higher open on Friday morning as traders eyed a few pieces of data amid what is likely to be subdued trading due to the Thanksgiving holiday. On the data front, U.S. international trade in goods and the advance inventories report are both due at 8:30 a.m. ET. NYSE markets are set to close early Friday - the day after Thanksgiving - at 1:00 p.m. ET. In Europe, the pan-European Stoxx-600 index was around 0.27 percent lower on Friday morning. Banks' shares were leading the losses, dropping more than 0.3 percent in early trading. Italian banks were once again the worst performers on referendum jitters, falling more than 1 percent. Goldman Sachs has re-rated the U.K. banking sector. It increased its price targets on RBS, Virgin Money, Barclays and Lloyds Banking Group. The European Central Bank has said that the banking system in the euro area is pulling apart, which increases risks. In Asia, the Shanghai Composite in China closed 0.61 percent higher while the Nikkei in Japan closed 0.26 percent higher. European Indexes
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| 25-Nov-2016 17:27 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Straits Times Index 
2,859.33   0.55% +15.61 ▲  
 
 
Singapore shares finish higher for the week as Trump-inspired " risk on" is still in force THE " risk-on" rally in equities inspired by Donald Trump' s win in the Nov 8 US presidential election continued into its second week, helped along by firmer oil prices and expectations of a stronger US economy under Mr Trump. The Straits Times Index over the five days gained 21 points or 0.7 per cent at 2,859.33, of which 15.61 came on Friday, largely courtesy of rises in Singtel, DBS and OCBC.   |
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| 25-Nov-2016 14:19 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Singapore most vulnerable to Trump' s protectionist stance Trump' s withdrawal from TPP could hit FDI and jobs market. Singapore may well be the most affected in Southeast Asia by any protectionist trade policy of the incoming US administration, BMI Research says, citing the city-state' s reliance on international trade and close ties with the US " Donald Trump' s presidency will affect South East Asian states To varying degrees, with Singapore and Vietnam amongst the most vulnerable to a more protectionist US trade policy and self-interested foreign policy, " the Fitch Ratings group firm says.   " Trump' s tougher trade policy towards China also poses major risks for South East Asia, as Washington' s more protectionist stance could undermine intra-regional trade." The comment come as Trump has said that he will withdraw from the Trans-Pacific Partnership Agreement on his very first day in office. Singapore has been one of the leading proponents of the free-trade pact. Also, any trade curb on China will impact Singapore as the country is the biggest destination of Singapore exports. " Given that Singapore is a small, open economy with extensive trade and investment links to the US, we believe that Trump' s shift towards a more protectionist stance and change in US foreign policy towards a more unilateral one will be negative for Singapore," it said . According to the research house, Trump' s announcement that the US will withdraw from the Trans-Pacific Partnership (TPP) will likely undermine Singapore' s geopolitical strategy as well as have a negative impact on the trade-driven city-state' s economy Read more ...     |
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| 25-Nov-2016 10:51 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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The market will also be watching for the release of key Asia data later Friday, including Malaysian consumer prices and Singapore industrial production data, both for October, while Taiwan will release third-quarter final economic output data. |
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| 25-Nov-2016 09:14 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Stocks To Watch IPCO, ITE Electric, Annica, Magnus, Innopac, ISR Capital   |
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| 25-Nov-2016 08:48 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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John Soh, alleged mastermind behind penny stock crash arrested to be charged on Friday.....L i n k Singapore authorities on Thursday morning arrested a number of individuals who were being investigated over the 2013 penny stock crash and raided their homes. Among them was John Soh Chee Wen, who has been described as the alleged " mastermind" of the crash.   |
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| 24-Nov-2016 17:40 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Straits Times Index  2,843.72   0.14%   +4.03   ▲  
Singapore shares close broadly weak STI ends in the black thanks to Singtel A LARGE jump in Singtel' s shares helped the Straits Times Index post a 4.03- point rise to 2,843.72 on Thursday in a session where the broad market weakened, recording 179 rises versus 237 falls. Singtel had been weak over the past few sessions so it came as no surprise that it was the index' s biggest positive contributor. Its S $ 0.11 or 3 per cent rise to S $ 3.73 on volume of 58.2 million accounted for 9.3 points. A fall in oil prices overnight brought slight pressure to bear on oil and gas stocks, led by Keppel Corp, Sembcorp Marine, Ezra and Ezion.   |
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| 24-Nov-2016 17:00 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Hong Kong: Stocks end lower Hong Kong stocks retreated Thursday, with energy firms hit by concerns over the outlook for an agreement between Opec and Russia to cut oil production in order to boost prices. The Hang Seng Index closed down 0.30 per cent, or 68.20 points, at 22,608.49. The benchmark Shanghai Composite Index was flat, edging up 0.60 points to 3,241.74. The Shenzhen Composite Index, which tracks stocks on China' s second exchange, lost 0.38 per cent, or 8.02 points, to 2,121.49.   |
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| 24-Nov-2016 13:50 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Asia Shares Pressured by Capital Flight Fears Asian markets were broadly lower Thursday, in response to strong economic data out of the U.S. overnight that raise the odds of rate increases, dollar strengthening and more capital flight from Asia. As usual, Japanese stocks benefited from the weaker yen, which boosts the competitiveness of the country' s exporters. A weaker yen continues to be " very favorable" for equities, said Hisao Matsuura, chief strategist at Nomura Japan. He expects Japanese firms to post positive earnings revisions as early as next quarter from exporters such car companies. " How much they recover will Show how much things have improved, " Mr. Matsuura said. Hong Kong stocks slid as continued yuan slippage hurt offshore interest in Chinese companies listed in the city. China' s central bank fixed the yuan 0.26% weaker against the U.S. dollar Thursday. It has guided the currency weaker for most of this month, as the U.S. dollar has experienced a broad-based rally. Singapore stocks were nearly flat after the city-state narrowed its growth forecast for this year. Asian Indexes
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| 24-Nov-2016 10:31 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Nikkei advances as yen weakens, but other Asia markets stumble Markets in Asia traded mixed on Thursday, with Japanese shares climbing as the market re-opened after being shut Wednesday for a public holiday. The yen weakened further against the dollar to trade at 112.59, compared with levels near 111.04 in the previous session and at levels below 110 in the previous week. The euro slipped to $ 1.0540, from levels above $ 1.06, while the pound was at $ 1.2430. In the energy market, oil prices finished slightly up as traders reacting to inventory data from the US Energy Information Administration, which showed crude inventories fell 1.3 million barrels in the week to Nov. 18, compared with market expectations for a build of 671,000 barrels, According to Reuters. US crude futures rose 0.4 percent to $ 48.22 on Wednesday, while global benchmark Brent gained 0.3 percent to $ 49.27. Asian Indexes
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| 24-Nov-2016 09:03 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Stocks To Watch  CapitaLand, Manulife US REIT, OCBC, F& N, Acromec, MMP   |
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