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STI 3,000 boosted by pivot investors mkt players
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Shirleyfong88888
Veteran |
15-Sep-2014 13:54
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Red Red Monday! 😞 | ||||||||||||||||||||||||||||||||||||||||
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bishan22
Supreme |
15-Sep-2014 13:51
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Poor start on a blue Monday. | ||||||||||||||||||||||||||||||||||||||||
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WanSiTong
Supreme |
15-Sep-2014 08:15
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Published September 15, 2014
WALL STREET INSIGHT
Market unease likely to persist for the moment
Fed' s latest policy statement, Scottish vote will influence stocks this week
 Too close to call: If Scotland declares its independence on Thursday, some analysts warn that the pound sterling may lose as much as 10 per cent of its value against the US dollar in the aftermath. - PHOTO: REUTERS LAST week, US stocks fell on jitters over the Federal Reserve' s likely moves. The unease is likely to persist, at least until midweek when the central bank makes its latest policy statement and Scotland votes on secession from the United Kingdom. If Scotland declares its independence on Thursday, some analysts warn that the pound sterling may lose as much as 10 per cent of its value against the US dollar in the aftermath. After all, much of Britain' s oil reserves lie in Scottish waters and some separatist politicians have pledged to seize them. The significance of Thursday' s vote on the future of the UK is not merely historical or cultural, it is also financial. The US dollar' s gain against the British pound and the euro also reflects the relative strength of the US economic outlook. " The world economy is not in sync," said strategists at brokerage Morgan Stanley, in a research note. " Major regional economies are at different points along the growth cycle." Most US economic statistics point to accelerating growth while most Chinese data point to deceleration. Eurozone data point to absolute stasis. This is a vindication of former Federal Reserve chairman Ben Bernanke' s stimulus policy. With the possible exception of the Bank of Japan (BOJ), the Fed under Mr Bernanke was the most aggressive of any major central bank in cutting interest rates and pumping stimulus in the form of newly printed dollars. |
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WanSiTong
Supreme |
15-Sep-2014 07:38
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Published September 15, 2014
STOCKS
FOMC and Scottish vote the main worries
 AS much as we would like to offer readers words of encouragement by saying that the week ahead will see prices shooting up in high volume and plenty of activity returning to the local stock market, we' d have to be honest and say that such a happy state of affairs is unlikely to materialise any time soon. Instead, as DBS Group Research put it in its Q4 Economics and Strategy report last week, the market looks set to remain " rangebound" , a polite way of saying it' ll stay as boring as it has for much of this year. Almost nine months into 2014 and even with interest rates at zero and the property market in decline because of stringent curbs, the Straits Times Index has managed only a 5.7 per cent gain so far. (Retail brokers, in the meantime, would likely use words that are much riper than " boring" to describe the state of equities.) |
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WanSiTong
Supreme |
13-Sep-2014 06:51
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U.S. Stocks Decline on Fed Bets After Retail Sales Climb U.S. stocks fell, giving the Standard & Poor&rsquo s 500 Index its first weekly drop in more than a month, as investors speculated the Federal Reserve may raise interest rates sooner than estimated after retail sales climbed at the fastest pace in four months. Energy shares in the S& P 500 fell 1.5 percent, extending losses for the week to 3.7 percent. Caterpillar Inc. lost 0.5 percent for its sixth straight decline. Yahoo! Inc. rose 3.9 percent to an eight-year high as Alibaba Group Holding Ltd. prepared for an initial public offering. Conversant Inc. surged 30 percent after Alliance Data Systems Corp. agreed to buy it. The S& P 500 fell 0.6 percent to 1,985.54 at 4 p.m. in New York, capping a 1.1 percent slide this week. The Dow Jones Industrial Average slid 61.49 points, or 0.4 percent, to 16,987.51. The Russell 2000 Index dropped 1 percent. About 6 billion shares changed hands on U.S. exchanges, 7.7 percent above the three-month average. &ldquo Today&rsquo s retail sales and consumer confidence data fall into the argument of those who believe the Fed lift-off date may come sooner,&rdquo Mark Luschini, chief investment strategist at Philadelphia-based Janney Montgomery Scott LLC, which oversees $67 billion in assets, said by phone. &ldquo The worry is if the Fed has to lift rates sooner rather than later, there&rsquo s the question of when, but also what the trajectory of interest-rate increases will be and if it will undermine this sanguine picture of equities as the only game in town.&rdquo The 0.6 percent gain in retail sales matched the median forecast of 82 economists surveyed by Bloomberg and followed a 0.3 percent increase the prior month that was stronger than previously reported, Commerce Department figures showed today in Washington. Eleven of 13 major categories showed advances, led by auto dealers and building material stores. Consumer SentimentThe Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to 84.6 in September from 82.5 the month before. The median estimate in a Bloomberg survey of economists projected an increase to 83.3. The Fed is assessing the strength of the economy as it winds down a bond-buying program and considers raising rates. The central bank, which meets Sept. 16-17, has said that its benchmark rate will stay low for a &ldquo considerable time&rdquo after it completes the monthly bond purchases. The S& P 500 decline this week on concern the Fed may raise interest rates sooner than forecast. The index closed at a record on Sept. 5, after rallying for five straight weeks, the longest winning streak this year. The gauge hasn&rsquo t posted a four-day string of losses in all of 2014, and the last time it fell more than 10 percent was three years ago. The benchmark gauge is trading at 16.6 times the projected earnings of its members, near the 16.8 multiple reached on Sept. 5 that was the highest valuation since the end of 2009, according to data compiled by Bloomberg. The Chicago Board Options Exchange Volatility Index, the gauge of S& P 500 options known as the VIX, increased 3.9 percent to 13.31. The volatility measure jumped 10 percent this week, its biggest gain since Aug. 1. All of the 10 main industries in the S& P 500 declined today. Energy shares tumbled 1.5 percent, extending a decline this week to 3.7 percent as crude prices have fallen on concern that global oil demand is slowing. Utility shares slid 1.8 percent as a group. Caterpillar slumped 0.5 percent to $105.02. Bank of America earlier this week lowered its rating on the shares to neutral from buy. The shares have lost 3.5 percent since Sept. 4. Yahoo rose 3.9 percent to $42.88, the highest level since January 2006. Alibaba received enough demand for its IPO that it plans to stop taking orders, according to people with knowledge of the matter. Yahoo is set to get an $8 billion windfall from the IPO. Alibaba plans to set a final price for the shares on Sept. 18, with trading to begin the next day. Conversant, which helps companies target users with Internet advertisements based on their previous online searches, soared 30 percent to $34.80, the highest since 2007. Alliance Data agreed to buy the company for $2.3 billion, or $35 a share, according to a statement. Ulta Salon Cosmetics & Fragrance Inc. jumped 18 percent to $114.89 after forecasting third-quarter revenue of as much as $736 million, exceeding the $718 million average analyst estimate in a Bloomberg survey. |
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WanSiTong
Supreme |
12-Sep-2014 06:42
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Published September 12, 2014
STOCKS
Exhausted after running on fumes
That' s market players' perception of the meandering Singapore market
 The STI on Thursday displayed its now-familiar lack of verve when it rose about nine points in the morning - probably short-covering after weakness on Wednesday - before closing with a nett gain of 8.65 points at 3,347.28 - PHOTO: SPH THERE was little to differentiate Thursday' s trading from Wednesday' s or, for that matter, Wednesday' s from last Wednesday' s or any day in the past few weeks - the actives' list comprised more or less the same names as it has for a month, the Straits Times Index' s (STI) movements were as listless as ever and input from market players was that a market in which liquidity has evaporated and has been running on fumes for months is now probably exhausted. " Each day is merging into the next in a haze without much change," said one dealer. " You can just use a standard template to write the market report and few would notice." The STI on Thursday displayed its now-familiar lack of verve when it rose about nine points in the morning - probably short-covering after weakness on Wednesday - before closing with a nett gain of 8.65 points at 3,347.28. Turnover, too, had a familiar look to it, amounting to 1.2 billion units worth S$503.4 million, figures best summed up by one word - weak. Excluding warrants, there were 181 rises versus 219 falls, so the session was weaker than the index' s rise implied. |
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WanSiTong
Supreme |
12-Sep-2014 06:39
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Markets Markets Closed
S& P 500 Erases Losses as Oil Offsets Geopolitical Concern The Standard & Poor&rsquo s 500 Index erased losses, sending the gauge higher for a second day, as a rebound in oil offset concerns over escalating geopolitical tension and the timing of possible interest-rate increases. Energy shares in the S& P 500 rose 0.1 percent, erasing an earlier loss of 1.2 percent as crude prices recovered from an eight-month low. Celgene Corp. slipped 2.3 percent to pace declines in health-care stocks. MasterCard Inc. dropped 1.3 percent after losing a court challenge to a European Union antitrust curb on card-payment fees. Lululemon Athletica Inc. soared 14 percent after raising its full-year forecast as quarterly profit exceeded estimates. The S& P 500 added 0.1 percent to 1,997.45 at 4 p.m. in New York, after an earlier decline of as much as 0.5 percent. The Dow Jones Industrial Average lost 19.71 points, or 0.1 percent, to 17,049. The Nasdaq Composite Index added 0.1 percent. About 5.5 billion shares changed hands on U.S. exchanges, 1.8 percent below the three-month average. &ldquo We&rsquo re just stuck in a tight range because the market has been so strong this year and every now and then the market needs a little time to cool off,&rdquo Dan Miller, director of equities at GW& K Investment Management in Boston, said by phone. The firm oversees more than $20 billion. &ldquo Geopolitical events of course always make the market nervous.&rdquo The S& P 500 halted a two-day slide yesterday as a rally in Apple Inc. boosted technology shares. The gauge fell 0.7 percent on Sept. 9, its first move in either direction of more than 0.5 percent in 15 days, the longest streak since 1995. It closed at a record on Sept. 5. Fed RatesThe S& P 500 is down 0.5 percent this week as investors focus on the timing of an interest-rate increase from the Federal Reserve. The Fed is gauging the strength of the economy as it winds down a bond-buying program and considers raising rates. Policy officials next meet Sept. 16-17. A report today showed the number of Americans filing for unemployment benefits unexpectedly rose last week to a two-month high, interrupting a steady decrease to the lowest level since before the last recession. The week included the Labor Day holiday, and the data are difficult to adjust during such periods, a Labor Department spokesman said. Equities slid earlier as European Union officials said new sanctions against Russia will come into force tomorrow because of the country&rsquo s continued support of separatists in Ukraine. Ending days of wrangling, EU countries agreed to implement plans to bar some Russian state-owned defense and energy companies from raising capital in the bloc. President Barack Obama said the U.S. is joining the EU in slapping more sanctions on Russia. Obama yesterday pledged a &ldquo relentless&rdquo campaign to destroy Islamic State extremists in Iraq and Syria, with Middle Eastern allies such as Saudi Arabia and Jordan playing crucial supporting roles. Macro EventsData overseas showed China&rsquo s consumer inflation eased to a four-month low in August while factory-gate prices extended their decline to 30 months, adding to signs of weakness in domestic demand. &ldquo It&rsquo s between earnings seasons so the focus is on macro events and geopolitical risks because that&rsquo s all people have to talk about,&rdquo John Carey, a Boston-based fund manager at Pioneer Investment Management Inc., which oversees about $230 billion, said in a phone interview. &ldquo People continue to look ahead to possibility of higher interest rates next year and next year is getting closer.&rdquo The Chicago Board Options Exchange Volatility Index, a gauge of S& P 500 derivatives prices, fell 0.6 percent to 12.8 for a second day of losses. |
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WanSiTong
Supreme |
11-Sep-2014 06:11
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Published September 11, 2014
STOCKS
A market bereft of ideas or direction
Some interest in Singapore eDevelopment which is selling its HotApps to a US company for US$700 million
THE market' s main statistics for Wednesday were thus: the Straits Times Index (STI) fell 4.33 points to 3,338.63, turnover was 1.1 billion units worth S$878.4 million and excluding warrants there were 156 rises versus 275 falls. Taken as a whole they accurately portrayed a market bereft of ideas or direction, although there was some consolation that it could have been much worse - regional leader Hong Kong, saw its Hang Seng Index plunge almost 2 per cent and Europe opened in the red across the board. At this point it is customary to quote brokers on their views of how the trading day went however, since none of the observations were printable, custom will have to be set aside for now. The 30 STI stocks traded S$555.7 million, about 63 per cent of the whole day' s business. The average unit value done was 79 cents, one of the highest since the start of the year and indicative of the decline in interest in penny stocks. Among the actives was semiconductor firm STATS ChipPAC, whose on-off takeover announcements over the past three months have given traders something to bank on. In Wednesday' s session, the stock ended 2.5 cents higher at 64.5 cents with 43.8 million shares traded. |
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WanSiTong
Supreme |
11-Sep-2014 06:09
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Published September 11, 2014
MAS poll: 2014 GDP growth cut to 3.3%
Weaker Q2 brings down full-year forecast further downgrades seen
 [SINGAPORE] Economy watchers polled by Singapore' s central bank have cut their 2014 growth forecast to 3.3 per cent, following a disappointing second quarter. But some economists warn that more downgrades could still come in, as the Republic grapples with restructuring pains amid a patchy global recovery. Professional forecasters, polled by the Monetary Authority of Singapore (MAS) from mid-August, have tempered their full-year growth projections by half of a percentage point, down from the 3.8 per cent median forecast seen in June' s survey. The lower 2014 growth estimate now falls within the government' s forecast range of 2.5-3.5 per cent. Said Bank of America Merrill Lynch economist Chua Hak Bin: " I think the downgrades shouldn' t come as a surprise, because a weaker Q2 basically brought down the full-year forecast. They key thing now is whether we' ll see the economy pick up steam, or whether the sluggish growth will be a bit more persistent and structural in nature." The slip in forecasters' optimism was due to softer growth expectations for all sectors within the Singapore economy, except for the finance & insurance segment, where growth projections have been kept intact at 5.5 per cent. |
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WanSiTong
Supreme |
11-Sep-2014 06:07
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US stocks end higher as Apple shares jump U.S. stocks broke two days of losses on Wednesday as a jump in Apple shares helped push indexes higher. Apple rose 3.1 percent, its biggest gain since April, a day after announcing updated versions of the iPhone, a new smartwatch and a mobile payment system. The company is the largest component of both the Standard & Poor' s 500 and Nasdaq composite indexes. Gains in the broad market were muted as investors fretted over the timing and pace of Federal Reserve increases in interest rates, which are widely expected next year. " The economy is getting better, and that worries people," said John Manley, chief equity strategist at Wells Fargo Funds Management. " People are afraid the Fed will raise rates too quickly." A drop in a key oil price to the lowest level since in nearly 1 ½ years also weighed on the market. Several oil companies fell. Chevron dropped 0.7 percent. Apple made the biggest splash on a slow day for news. Investors scrambled to understand the impact of its new products on the fortunes of other companies, sending a number of stocks sharply higher, and others sharply lower. EBay fell 3 percent over fears its PayPal division will lose business to Apple' s new payment system. But GPS device maker Garmin reversed big losses from Tuesday with a gain of 4 percent as investors seemed to dismiss the threat from the Apple' s smartwatch. Apple closed at $101, up $3.01. It is has gained 26 percent since the beginning of the year. The Dow Jones industrial average ended the day up 54.84 points, or 0.3 percent, to 17,068.71. The S& P 500 rose 7.25 points, or 0.4 percent, to 1,995.69. The Nasdaq rose 34.24 points, or 0.8 percent, to 4,586.52. Apple comprises 8.5 percent of the tech-heavy index, so a big move in its stock price has an outsize influence on tech-heavy index. Investors were questioning whether the U.S. Federal Reserve might raise its benchmark interest rate earlier than many had expected as the economy gains strength. In a note to clients Wednesday morning, Steven Ricchiuto, chief economist at Mizuho Securities, said he thinks the consensus over the timing of the first increase will soon shift to early next year, rather than over the summer. " The worst things for stocks would be the Fed to raise rates sooner rather than later," said Ricchiuto in a phone interview. Adding to the nervousness was a paper earlier this week from two San Francisco Fed economists that said the public appears to expect a " more accommodative" policy, meaning low rates for longer, than do Fed board members. Investors will be watching a report on unemployment claims out Thursday and one on retail sales Friday for a read on the economy. Also weighing on markets was a $1.12 drop in Brent crude to close at $98.04 a barrel, the lowest price since May 2013. It was the fifth straight drop for Brent crude, a benchmark for international oils used by many U.S. refineries. The price of U.S. benchmark oil also fell to its lowest level since January after the Energy Department reported large increases in stocks of gasoline and diesel. Benchmark U.S. crude fell $1.08 cents to close at $91.67 a barrel on the New York Mercantile Exchange. In other energy futures trading, wholesale gasoline fell 2.1 cents to close at $2.527 a gallon and natural gas fell 3 cents to close at $3.954 per 1,000 cubic feet. The price of the 10-year Treasury note fell. The yield rose to 2.54 percent from 2.50 percent on Tuesday. In metals trading, the price of gold fell $3.20 to $1,245.30 an ounce. Silver was flat at $18.93 an ounce and copper edged up a penny to $3.11 a pound. |
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WanSiTong
Supreme |
10-Sep-2014 14:55
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Asian Stocks Drop as Dollar Gains Europe Futures Steady By Emma O&rsquo Brien and Nick Gentle Sep 10, 2014 2:16 PM
Asian stocks fell the most in a month on concern that China&rsquo s growth is slowing and amid speculation that U.S. interest rates will rise sooner than estimated. The dollar reached a fresh six-year high to the yen, while European index futures were little changed. The MSCI Asia Pacific Index dropped 0.6 percent by 7:08 a.m. in London as Hong Kong&rsquo s Hang Seng Index retreated 1.7 percent as Chinese Premier Li Keqiang announced money-supply growth that was the slowest in five months. Standard & Poor&rsquo s 500 Index futures declined 0.1 percent and contracts on the Euro Stoxx 50 Index were little changed. The greenback bought as much as 106.56 yen, while the Australian currency and Turkish lira slid 0.5 percent. The U.S. reports on wholesale inventories today, as investors including BlackRock Inc. speculate that an improving labor market and signs of inflation may justify sooner-than-forecast rate increases by the Federal Reserve. Premier Li&rsquo s announcement came before China releases data on lending and money supply this week, with economists estimating aggregate financing will cap its biggest two-month slump since 2011. France and Spain report on industrial production today. &ldquo Investors are shifting their focus towards the end of quantitative easing and the commencement of interest rate hikes by the Fed,&rdquo Keith Poore, who helps manage $131 billion as Wellington-based head of investment strategy at AMP Capital Investors Ltd., said by phone. &ldquo If they tighten prematurely, the global economy could slide back into recession, but I don&rsquo t think they would.&rdquo |
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WanSiTong
Supreme |
10-Sep-2014 06:38
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Published September 10, 2014
STOCKS
Banks help STI recover Monday loss
But market advance-decline score is weak at 188 to 225 over 400 stocks are either not traded or unchanged
 Turnover done in the Straits Times Index (STI) components amounted to S$339.4 million or 51 per cent - PHOTO: SPH THE closure of Hong Kong for the mid-autumn festival holiday meant that volume done in the local market on Tuesday amounted to just 1.05 billion units worth S$661.1 million, one of the worst one-day totals this year. Turnover done in the Straits Times Index (STI) components amounted to S$339.4 million or 51 per cent. Support for the three banks, however, helped the STI bounce 7.77 points to 3,342.96, regaining all its Monday loss, though the advance-decline score of 188-225 was weak and also pointed to a narrow focus since it left more than 400 counters either not traded or unchanged. Among the stocks in play was STATS ChipPAC, which added three cents at 62 cents with 30.4 million shares done. The stock has enjoyed heavy play in recent weeks because of the possibility that the company may be taken over. In the retail sector, shares of supermarket firm Sheng Siong have also been in focus because of a proposed placement. In a Sept 5 report, Daiwa Capital Markets said it is positive on the placement as it will allow the company to pursue a strategy for growth amid a high-rental environment, which should address investors' concerns over the lack of new store openings since 2012. " We raise our DCF-based 6-month target price slightly to SGD 0.75 (from SGD0.74) as a result of our earnings revisions, and reaffirm our Outperform rating," said Daiwa. Sheng Siong closed unchanged on Tuesday at 67 cents with 8.6 million shares done. Credit Suisse (CS) in its Tuesday Singapore Reporter said the STI was down 1.4 per cent in August and the MSCI Singapore index underperformed the MSCI Southeast Asia index by 2.4 per cent with sectors such as banks, telecoms and consumers giving up gains. CS earlier constructed a mid-cap portfolio but said that performance has been disappointing. " Historically, a lack of performance of mid-caps at the top of the screen has coincided with a reasonable correction in the STI," said CS. " The STI now trades at 13.9x P/E, close to near-term highs. Short interest - as a percentage of turnover - has increased recently. The latter correlates well (inversely) with the index." |
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WanSiTong
Supreme |
10-Sep-2014 06:37
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U.S. Stocks Decline as Rate Concerns Grow, Apple Fades U.S. stocks fell, with the Standard& Poor&rsquo s 500 Index declining the most in a month, as concerns grew that the Federal Reserve may raise interest rates sooner than anticipated and a rally in Apple Inc. (AAPL) disappeared. Apple wiped out a rally of as much as 4.8 percent after unveiling new products including larger-screen iPhones. Garmin Ltd. (GRMN) and Amazon.com Inc. dropped at least 3.5 percent, pacing declines int the technology-heavy Nasdaq 100 Index. McDonald&rsquo s Corp. retreated 1.5 percent as its monthly sales missed estimates. Home Depot Inc. lost 2.1 percent after confirming that hackers attacked its computer systems. The S& P 500 fell 0.7 percent to 1,988.44 at 4 p.m. in New York, for its largest retreat since Aug. 5. The Dow Jones Industrial Average lost 97.55 points, or 0.6 percent, to 17,013.87. The Nasdaq 100 slumped 0.8 percent, and the Russell 2000 Index of smaller companies tumbled 1.2 percent, its biggest drop since July 31. About 5.8 billion shares changed hands on U.S. exchanges, 3.5 percent above the three-month average. &ldquo There are still a number of people who fear the Fed will raise rates too soon, but I don&rsquo t think there&rsquo s anything to be gained by being early in raising interest rates,&rdquo John Manley, who helps oversee about $233 billion as chief equity strategist for Wells Fargo Funds Management in New York, said in a phone interview. &ldquo If the Fed tightens too soon, it will drag the U.S. and the world into another recession.&rdquo Fed StimulusThe Fed is gauging the strength of the economy as it winds down a bond-buying program and considers the timing of raising rates. Policy officials next meet Sept. 16-17. Assessments of the strength of the economy are mixed, after gross domestic product expanded more than previously forecast in the second quarter, while a report on Sept. 5 showed the economy added fewer jobs than anticipated in August. Data this week will likely show a decline in weekly jobless claims and stronger retail sales, according to economists&rsquo forecasts. Rick Rieder, BlackRock Inc.&rsquo s chief investment officer of fundamental fixed income in New York, said in a report that an improving labor market and signs of inflation argue for the Fed to boost borrowing costs. Meanwhile, former Fed Chairman Alan Greenspan said the U.S. economic rebound has been hindered by a slump in the construction industry as wage growth remains slow and credit conditions tight. Strategist TargetsWall Street strategists have been raising their targets for the S& P 500. Gina Martin Adams at Wells Fargo & Co. and Tony Dwyer, a strategist at Canaccord Genuity Securities LLC, were the latest today to lift their forecasts for the S& P. They follow increased projections from Morgan Stanley and Deutsche Bank AG and a bullish rating on global stocks from Goldman Sachs Group Inc.&rsquo s portfolio strategy team. The S& P 500 retreated 0.3 percent yesterday after a five-week rally, its longest winning streak this year. The benchmark is trading at 16.6 times the projected earnings of its members, near the 16.8 multiple reached on Sept. 5 that was the highest valuation since the end of 2009, according to data compiled by Bloomberg. The S& P 500 had not posted a move of more than 0.5 percent in either direction for 14 straight days until today, the longest streak since 1995, data compiled by Bloomberg show. The last time the index fell more than 10 percent was three years ago. Volatility IndexThe Chicago Board Options Exchange Volatility Index, the gauge known as the VIX, climbed 6.6 percent to 13.50 today, the most in more than a month. The gauge lost 29 percent last month, the biggest drop in almost three years. All 10 groups in the S& P 500 dropped today, with financial companies, utilities and phone shares losing more than 1 percent. Technology shares dropped 0.6 percent, reversing an earlier rally of 0.7 percent. Apple fell 0.4 percent to $97.99, after climbing to within one point of its intraday record of $103.74 reached last week. The shares have typically fallen at other events where it debuted new products. Apple is up 22 percent so far this year, exceeding the 7.6 percent gain for the S& P 500. The company announced a smartwatch, mobile-payments system, health applications and bigger-screen iPhones that all work together -- in the biggest new lineup so far under Chief Executive Officer Tim Cook. Garmin Ltd. dropped 3.5 percent to $51.71. The maker of navigation services tumbled as much as 6.1 percent after Apple introduced the Apple Watch, which will include apps for maps. |
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WanSiTong
Supreme |
09-Sep-2014 14:16
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Markets &ndash Likely Range Trade In The Near Term Perspective | 08 September 2014
Asian markets continued their climb on mostly strong U.S. economic data (excluding the jobs report), better than expected China services PMI, ECB rate cut and asset buying program. (See Table 1 for the indices&rsquo performance over the past two weeks) Table 1: Indices&rsquo performance over the past two weeks 
Source: Bloomberg Ernest&rsquo s compilations S& P500 Index Two weeks ago, I mentioned that S& P500&rsquo s overall technical picture has turned to neutral, if not a tad positive and highlighted the possibility that it may cross above 2,000 in the next two weeks. S& P500 indeed crossed 2,000 and closed at 2,008. (See Chart 1 below) S& P500&rsquo s RSI closed at 66.4 last Fri. Despite S& P500 making a new record close, the RSI is not oversold yet. Although ADX is still above 20 (closed at 22.7 on last Fri), it seems to be declining. Looking ahead in the next two weeks, S& P500 may consolidate around 1,970 &ndash 2,025. As mentioned two weeks ago, S& P500 is unlikely to breach 2,025 on a sustained basis without some form of consolidation. Near term supports are at 1,990-1,992 / 1,985 / 1,970. Resistances are at 2,025 / 2,050. Chart 1: S& P500 &ndash may consolidate around 1,970 &ndash 2,025 
Source: CIMB itrade complimentary chart (5 Sep 14) Hang Seng Index Two weeks ago, I mentioned that it will be good if Hang Seng can consolidate around the region 24,660 &ndash 25,423. Hang Seng indeed traded in the range 24,576 &ndash 25,363 for the past two weeks. With this consolidation, RSI has weakened from 68.9 on 22 Aug to 64.8 on 5 Sep. The indicators such as RSI and MACD continue to exhibit bearish divergences. ADX has slid from 29.9 on 22 Aug to 22.2 on 5 Sep. Given the persistent bearish divergences and weakening ADX, Hang Seng may trade within 24,885 &ndash 25,874. (See Chart 2 below) Near term supports and resistances are at 24,885 / 24,400 &ndash 24,500 and 25,423 / 25,874 respectively. Chart 2: Hang Seng may trade within 24,885 &ndash 25,874 
Source: CIMB itrade complimentary chart (5 Sep 14) Straits Times Index Two weeks ago, I mentioned that it will be good to observe whether STI can breach the uptrend line formed since Feb 2014. If it can breach and move above the uptrend line on a sustained basis, the overall technical picture would become better. STI tried to breach it on 28 Aug but there was no follow through. I will continue to observe the price action on the chart. With the low ADX of 19.0, STI may trade within 3,282 &ndash 3,388 in the next two weeks. It is noteworthy that the medium term trend looks positive as evidenced by the rising 21D, 50D, 100D & 200D EMAs. (See Chart 3 below) See STI supports and resistances below. Chart 3: STI likely trade within 3,282 &ndash 3,388 in the next two weeks 
Source: CIMB itrade complimentary chart (5 Sep 14) U.S. Market outlook U.S. markets continue to be buoyant amid mostly good economic data and a supportive Fed. In the next two weeks, an important event would be the FOMC Meeting scheduled on 18 Sep morning where investors would scrutinise the FOMC statement and their press conference. Barring any unforeseen circumstances, the U.S. market is likely to range trade around 1,970 &ndash 2,025 in the next two weeks. Singapore Market outlook Despite the lacklustre Singapore market, there are still some stocks which captured market attention in the last two weeks. Examples are Stats Chippac and Rex International. Notwithstanding the record high levels of S& P500, FOMC on 18 Sep, the ongoing geopolitical risks / Ebola, and the quiet Singapore market, I reiterate that there are (usually) always opportunities to trade or invest, as long as we are patient, discipline, nimble and do our homework before we initiate positions. As of now, I am comfortable to maintain a 30-50 percent equity allocation but would be nimble to raise 70-80 percent in the next few weeks if I can find more ideas at appropriate valuations. (Clients have and will be notified of such potential opportunities.) Please note that I am putting my equity allocation and selected stocks above just for discussion purpose. Due to my work nature, I can change my equity allocation and the stocks quickly. Everybody is different in terms of returns expectations, risk profile, portfolio size, commitments, market outlook, stock preference etc. As such, everybody&rsquo s allocation in equities differs. In addition, it is noteworthy that the above is my personal opinion and may not cater to your specific risk profile etc. The question of when to buy / sell and what to buy / sell differs greatly from individual to individual. Furthermore, it is extremely important to bear in mind that the market outlook is never static. It can change suddenly if there are sudden big events unfolding from the market &ndash some events can happen as quickly as a few hours. STI near term supports and resistances are: Current: 3,342 Support 1: 3,339 Support 2: 3,327 Support 3: 3,312 Support 4: 3,282 &ndash 3,286 Resistance 1: 3,367 Resistance 2: 3,388 Resistance 3: 3,400 Resistance 4: 3,425 *Supports and resistances are not static levels. They may be subject to change daily. *Summary of Economic Calendar for the Week ahead (SIN time) 8 Sep, Mon: (CNY) **Trade Balance 9 Sep, Tues: (GBP) BOE Gov Carney Speaks / Manufacturing Production m/m (USD) JOLTS Job Openings / FOMC Member Tarullo Speaks 10 Sep, Wed: (CNY) *** New Loans / ***M2 Money Supply (GBP) Inflation Report Hearings 11 Sep, Thurs: (CNY) CPI / PPI (USD) Unemployment Claims 12 Sep, Fri: (JPY) BOJ Gov Kuroda Speaks (EUR) ECOFIN Meetings (USD) Core Retail Sales / Retail Sales / Prelim UoM Consumer Sentiment 13 Sep. Sat: (CNY) Industrial Production y/y / Fixed Asset Investment ytd/y / Retail Sales *All economic data especially China data (if any) are subject to changes without notice. The above list is not exhaustive. I have merely listed the economic data which I feel has more impact to the market. **Trade Balance (CNY) is tentatively scheduled for release on 8 Sep. ***New Loans / ***M2 Money Supply (CNY) are tentatively scheduled for release on 10-14 Sep. &rarr Please refer to Forex Factory Calendar for a more detailed / up to date list of economic events. |
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hlfoo2010
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09-Sep-2014 08:40
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TO All CHinese in the world, workers , engineers, businessmen and politician ...... expose the evil ....... http://www.youtube.com/watch?v=oDwtju59eMc& list=UUz7xv3uXemk_SS1oH-Wis7A& index=4 |
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WanSiTong
Supreme |
09-Sep-2014 08:28
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South Korea and Hong Kong markets closed on Tuesday
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WanSiTong
Supreme |
09-Sep-2014 06:11
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Published September 09, 2014
STOCKS
Bad moon rises for Mid-Autumn market
It' s a sad market entering a quieter quarter and the volumes are dismal, says a trader
THE Mid-Autumn Festival had a bitter filling for Singapore stocks on Monday. If it is any consolation, there is that once in a blue mooncake chance to make a bad pun. It was the kind of gloomy Monday for Singapore stocks when even a general offer and a new " buy" report failed to give much of a volume boost to the affected stocks. The Straits Times Index benchmark of large market capitalisation stocks slipped 0.2 per cent, or 6.54 points, to close at 3,335.19, its third straight session of decline. There were 246 losers to 174 gainers, or about 10 down counters for every seven climbers. |
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WanSiTong
Supreme |
09-Sep-2014 06:10
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U.S. Stocks Close Mostly LowerTech Stocks Eke Out Small GainsU.S. stocks eased Monday, as investors took a breather following last week' s gains and continued to weigh the outlook for interest-rate hikes by the Federal Reserve. Energy companies, meanwhile, posted steep losses, as domestic oil prices fell to their lowest level in eight months. Investors continued to digest Friday' s disappointing jobs report for August in the absence of other market-moving news. Though employers made fewer hires than expected, money managers said the report gave the Federal Reserve more leeway as it weighs how soon to raise interest rates. They pushed the S& P 500 to its 33rd record close of the year and other stocks broadly higher. Shares gave some of those gains back on Monday. The Dow Jones Industrial Average fell 25.94, or 0.2%, to 17111.42. The S& P 500 index slipped 6.17, or 0.3%, to 2001.54. " In the absence of any kind of catalyst one way or the other ... you start to consolidate," said Keith Bliss, senior vice president at brokerage Cuttone & Co. " Our sense is that investors are largely not doing a whole heck of a lot because they don' t have to." The U.S. central bank is widely expected to begin raising interest rates next year after it concludes its bond-buying program in October. Investors are now focused on the timing and speed of the eventual increases, reading deeply into economic updates for clues on how the Fed might respond. Monday' s economic calendar was light, however. Bucking the broader market, shares of technology companies and small companies rose. The tech-heavy Nasdaq NDAQ +0.37% NASDAQ OMX Group Inc. U.S.: Nasdaq $43.28 +0.16 +0.37% Sept. 8, 2014 4:00 pm Volume (Delayed 15m) : 674,750 AFTER HOURS $43.28 0.00 % Sept. 8, 2014 4:26 pm Volume (Delayed 15m) : 4,973 P/E Ratio 15.85 Market Cap $7.28 Billion Dividend Yield 1.39% Rev. per Employee $1,024,370 43.4043.2043.0042.8010a11a12p1p2p3p4p 09/08/14 U.S. Stocks Close Mostly Lower 09/08/14 High-Frequency Trading Leads t... 09/07/14 More Investors Use a Barbell S... More quote details and news » NDAQ in Many investors have been questioning how much further stocks can rise given their strides this year and relatively high valuations. Anwiti Bahuguna, a senior portfolio manager who helps oversee $12 billion in investments for Columbia Management, said about two weeks ago she lightened her bet on stocks globally because of concerns that returns will be limited, boosting her holding of cash instead. " We don' t believe [stocks] are massively overvalued, but we don' t see enormous opportunities," she said. The gains in U.S. stocks this year has some investors looking outside the U.S. for returns. The S& P 500 is up 8.3% this year, on top of a 30% rally in 2013. Lucas Turton, chief investment officer at Windham Capital Management, said in the spring he boosted his bets on European shares, which have been stung this year on growth concerns, and stocks in emerging markets. " We are very much in a benign market" in the U.S., said Mr. Turton, whose firm manages about $1.3 billion. " European equities [are] more attractive because they have not run up, and U.S. equities have run up a little bit." European markets, however, were more turbulent after the wake of a Scottish independence poll over the weekend that indicated that the number of people in favor of independence surpassed those opposing a split for the first time. The Stoxx Europe 600 shed 0.4%, while shares of banks and other businesses likely to be most affected by a separatist victory were hit hardest. The British pound fell to its lowest level in nine months against the U.S. dollar. Oil futures shed 0.7% to $92.66 a barrel, their lowest price since January, amid concerns that demand isn' t keeping pace with booming supply. Brent crude fell to its lowest level since May 2013 Gold futures lost 1% to $1252.70 an ounce. The yield on the benchmark 10-year note rose to 2.469%, reversing an early decline. Yields move inversely with prices. |
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bishan22
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08-Sep-2014 07:41
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HSI close today for moon cake. STI again will be dead. 
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WanSiTong
Supreme |
08-Sep-2014 06:27
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Published September 08, 2014
STOCKS
 IT looks very much as if markets are reverting to the " bad economic news is good for stocks" mode that had been in force for much of the past five years when markets were almost wholly reliant on central bank largesse to keep afloat. In Europe for example, stocks took off after the European Central Bank sliced its main policy rate from 0.15 to 0.05 per cent and announced a bond-buying programme that some parties believe - perhaps over-optimistically - will see US$1 trillion being pumped into the system to reflate a flagging economy. Meanwhile, over on Wall Street, there is mounting evidence that good economic news doesn' t lift prices as it is supposed to because if the economy is strengthening this raises the chances that interest rates will rise sooner rather than later. This was the case during the week and the hypothesis received added support when Friday' s jobs data came in much worse than expected and led to a rally that left the S& P 500 at a new all-time closing high of 2,007. |
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