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STI to cross 3000 boosted by long-term investors
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WanSiTong
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30-Nov-2016 22:02
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Live update...L i n k Oil producers have reportedly agreed to cut production by more than 1m barrels a day, driving Brent crude over $50 a barrel, but analysts want to see the details Delegate: Opec members agree cut Earlier: Saudi hints at Opec deal Opec meeting underway Summary: Carney warns Europe to be careful about Brexit |
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Goldfinger
Supreme |
30-Nov-2016 21:33
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Bloomberg just reported that OPEC made the deal - cutting by 1.2million barrels.
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Goldfinger
Supreme |
30-Nov-2016 20:58
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Everyone is so darn pessimistic now - no one expects a rally in share prices or commodities. If it happens, due to unexpected news like an OPEC deal, there could be sheer mad panic short covering and panic buying. Just IMHO. | |||||||||||||||||||||||||||||||||||||||||||||||||
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Goldfinger
Supreme |
30-Nov-2016 20:55
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If OPEC reaches a deal - big fireworks tomorrow and many STI components will Boomzzzz. | |||||||||||||||||||||||||||||||||||||||||||||||||
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destinykraze
Elite |
30-Nov-2016 20:52
Yells: "Reality is only a matter of perception" |
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Big show to watch tomorrow. Biggest daily volume for the year. share value : $2.38 billion traded in 1 day
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bishan22
Supreme |
30-Nov-2016 20:45
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Eat huat kueh tml??? |
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WanSiTong
Supreme |
30-Nov-2016 20:42
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Wall Street points to higher open on soaring oil prices OPEC meeting in focus U.S. stock index futures pointed to a higher open on Wednesday as traders eyed a sharp jump in oil prices ahead of a potential production cut deal from OPEC. In oil markets, Brent crude traded at around $ 50.10 a barrel on Wednesday morning, up 8 percent, while U.S. crude was around $ 48.75 a barrel, up 7.7 percent. OPEC began on Wednesday debating a deal to curtail oil production in an effort to prop up the price of crude with Iran and Iraq under pressure from Saudi Arabia to participate fully in any action, according to a Reuters report. Is OPEC finally about to reach a deal? Saudi Arabia, the cartel' s de facto leader, hinted that it would allow regional rival Iran to pump at pre-sanction levels as part of a deal. " I will not discuss specific numbers," Saudi oil minister Khalid Al-Falih told CNNMoney. " In principle Iran do not have to cut - they would be able to produce pre-sanction levels." A senior Iranian source said they had " agreed to settle on amount that is a agreeable to all parties." The oil cartel has been tried for a year to freeze or cut production in hopes of boosting prices. It' s possible that Nigeria, Libya and Iran will be able to secure an exception from the agreement. The three countries are trying to increase their output. Nigeria and Libya saw their production drop because of of armed conflict. Iran is keen to increase output to the levels it was pumping before being slapped with nuclear sanctions. Read more.....Oil prices surge on optimism over OPEC dealEnergy Futures
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WanSiTong
Supreme |
30-Nov-2016 17:42
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Straits Times Index 2,904.02 0.86% +24.88 ▲
Banks help STI cross 2,900 in mixed but active session AN overnight rise on Wall Street and probable month-tail window-dressing of certain key blue chips - or " portfolio rebalancing" if you prefer - on Wednesday helped push the Straits Times Index up 24.88 points to 2,904.02, taking it 22 points or 0.8 per Cent into the black for 2016. Wednesday also saw the latest Morgan Stanley Capital International index rebalancing comes into effect. For the MSCI Singapore Index, Sats was added whilst Noble Group and SembCorp Marine were deleted. However, both were then included in the MSCI Singapore Small Cap Index. Noble crashed S $ 0.013 or 7.6 per cent to S $ 0.159 on massive volume of 1.23 billion, SMM closed with a S $ 0.085 or 5.7 per cent loss at S $ 1.395 on volume of 85.4 million. A steep slide in oil prices, however, dampened sentiment somewhat and this was reflected in an advance-decline score of 227-222 which suggested that the index' s profits were narrowly focused and that the broad market did not follow. A check of the index' s movers showed that rises in the three banks were instrumental in sending the STI above 2016' s starting level of 2,882, their combined contribution amounting to almost 12 points. Thanks to the heightened activity in blue chips and the selling of Noble, turnover came to 2.9 billion units worth S $ 2.6 billion, the highest daily total for the year. |
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andysim83
Elite |
30-Nov-2016 16:48
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ya i agree...from 2830 chiong until 2900....index rising but pennies stock and major stock drop..but once the STI down...all also come down along....
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Goldfinger
Supreme |
30-Nov-2016 16:00
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STI Jia You! 3000 points by end 2016! | |||||||||||||||||||||||||||||||||||||||||||||||||
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Laoliu
Veteran |
30-Nov-2016 15:44
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Yet again, index keep on climbing up higher but majiority stocks like dying.. |
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WanSiTong
Supreme |
30-Nov-2016 12:13
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Opec deadlocked as Iran, Saudis harden positions on oil deal NOV 30, 201611:50 AM An Opec deal to curtail oil production and prop up global prices appeared in jeopardy as Iran said it will not make cuts while Saudi Arabia insisted Tehran must be willing to play a meaningful role in any agreement. Ministers gathering in Vienna before Wednesday' s crucial Opec meeting attempted to resolve differences obstructing an accord. Iranian Oil Minister Bijan Namdar Zanganeh laid out his country' s position following talks with his Algerian and Venezuelan counterparts. Under an Algerian proposal Tuesday, the 14 members of Opec would cut production to 32.5 million barrels per day from their October level of 33.6 million, according to two delegates familiar with the talks. With oil prices languishing below US $ 50 a barrel, the Organization of Petroleum Exporting Meeting meets Wednesday to finalise its first production curbs in eight years. Resistance from Iran - and from neighboring Iraq - has made the foundations for a deal look increasingly shaky. Top producer Saudi Arabia is ready to reject an accord unless all members, bar Libya and Nigeria, participate, people with knowledge of the kingdom' s position said earlier. " I do not know" if there will be an agreement, Indonesian Energy Minister Ignasius Jonan told reporters in Vienna. " The feeling today is mixed." Under the Algerian proposal, Angola, which had a key oil field under maintenance in October, Will cut from its September level. Nigeria and Libya will be exempted from cuts. Still, Opec will consider their output to calculate the overall 32.5 million-barrel target, using their year-to-date averages, An Opec proposal initially agreed in Algiers in September would see producers trim output by about 1.2 million barrels a day from October levels. Iran has enjoyed special treatment since it' s ramping up output following years of crippling sanctions. Iran has suggested it freezes production at 3.975 million barrels a day, or about 200,000 barrels a day above current output, two Opec delegates said Monday. Saudi countered with a proposal for Iran to cap output at 3.707 million. Algeria, acting as a go -between, offered an alternative that would see Iran freeze at 3.795 million, the delegates said. Crude prices remain at half their level of mid-2014 as global supply continues to swamp demand. Brent gained 0.8 per cent to US $ 46.76 a barrel as of 11:18 am Singapore on Wednesday, paring the 3.9 per cent decline Tuesday to the lower settlement in Two weeks. At negotiations in Vienna, countries have fought to the very last barrel. While Iraq finally appeared to accept that Opec supply estimates known as " secondary sources" should determine the basis for cuts, it was still insisting it should be allowed to freeze at October' s output of 4.6 million barrels a day, according to one delegate. That The same level as would be reached if the proposal for a group-wide cut of 4 to 5 per cent were applied to Iraq' s own output estimate of 4.8 million barrels a day. Algeria proposed Iraq cut production by 240,000 barrels a day from the October secondary-sources level, two delegates said. Saudi Arabia will not insist that Iraq and Iran make the same size reduction as other Opec members and has not decided from which production level They' ll be asked to cut, according to the people familiar with the situation. Iraq had previously demanded an exemption from a supply deal, citing the urgency of its offensive against Islamic State. " We support Iran in the sense that they have been sanctions and we have to take that into account in the deal that we make," Ecuador' s Minister for Foreign Affairs Guillaume Long told reporters in Vienna on Tuesday. " The same goes for Iraq as We know that has a very expensive security situation that it faces, basically a war. We understand that requires special treatment. " Informal discussions between the heads of Opec delegations will take place at 8am on Wednesday, preceding the formal meeting at the Secretariat at 11am, said two delegates, asking not to be identified because information is not public. On Sunday, Saudi Oil Minister Khalid Al-Falih for the first time floated the possibility of being without prior agreement. It was unclear whether the minister changed his mind about the deal' s merits, or was trying to boost his negotiating position with Iran and Iraq . As Opec tries to resolve its own differences, the group is also asking other big producers including Russia to reduce output by as much as 600,000 barrels a day. The Kremlin so far has resisted requests that it join the cut, offering instead to freeze production at Current levels. Energy Minister Alexander Novak said Tuesday that he has no plans to visit Vienna on Wednesday, but that Russia is ready to talk if the group reaches an internal consensus. BLOOMBERG |
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WanSiTong
Supreme |
30-Nov-2016 10:09
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Asia markets flat in early trade, oil stocks under pressure ahead of OPEC meet Asia markets were flat in early trade on Wednesday, with energy stocks under pressure following overnight declines in oil prices and as traders eyed a meeting between the world' s top oil producers in Vienna. Oil prices tumbled nearly 4 percent on Tuesday amid fresh uncertainties over an OPEC deal to reduce production levels with ministers from the 14-nation cartel slated to meet in Vienna later Wednesday to announce a decision on output curbs proposed in September. United States dollar futures rebounded slightly, up 0.33 percent at $ 45.38, after falling 3.9 percent on Tuesday during U.S. hours. Global benchmark Brent was flat, following a 3.9 percent tumble to $ 46.38 overnight. Energy plays across the region were also lower Santos shares in Australia dropped 0.49 percent, Oil Search was down 0.60 percent and Woodside Petroleum fell 1.58 percent. In Japan, Fuji Oil fell 0.28 percent and Japan Petroleum was down 1 percent, while South Korea' s S -Oil slipped 1.05 percent. Analysts warned OPEC' s failure to reach a deal for substantial production cuts could see oil prices decline further. " The oil market is unlikely to be impressed by any token, face saving agreement from OPEC largely based on production freezes," said Ric Spooner, chief market analyst at CMC Markets, in a note. Reuters, citing a source, reported documents prepared for the meeting proposed OPEC cut production by 1.2 million barrels per day from October levels at 33.82 million barrels a day, which was more than the 1 million barrel per day the group discussed at a meeting in September . Meanwhile, the oil minister of the United Arab Emirates, Suhail al Mazroui told CNBC on Tuesday the obstacle standing in OPEC' s way to cut a deal was that not all member states appear ready to participate in production cuts. Others believed even if OPEC were to reach a deal on Wednesday, ensuring compliance from every member to reduce output could be an issue. " The weight of any cuts will almost certainly fall on the shoulders of both Saudi Arabia and the other Gulf Cooperation Council countries," said Jeffrey Halley, senior market analyst at OANDA. Spooner added the " substantial increase in OPEC production over recent months will leave the market in a surplus position for some time unless it can agree on significant and sustainable production cuts." On Tuesday, tensions rose after Iran wrote to OPEC saying it wanted Saudi Arabia to cut production by as much as 1 million barrels per day (bpd), much more than Riyadh is willing to offer, OPEC sources who saw the letter told Reuters. Iranian Oil Minister Bijan Zanganeh told reporters upon arrival at OPEC' s headquarters in Vienna that his country was not prepared to reduce output: " We will leave the level of production (where) we decided in Algeria." OPEC, which accounts for a third of global oil production, made a preliminary agreement in Algiers in September to cap output around 32.5-33 million bpd versus the current 33.64 million bpd to prop up prices. Traders said that the market was extremely nervous, and that prices could swing either way quickly depending on developments at the Organization of the Petroleum Exporting Countries meeting in Vienna. Asian Indexes
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WanSiTong
Supreme |
30-Nov-2016 09:04
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Stocks To Watch Office SREITs, GuocoLand, Lian Beng, Nam Lee, JES, Asiatravel.com |
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WanSiTong
Supreme |
30-Nov-2016 06:56
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Stocks close higher as health care, real estate lead oil tumbles 3.9% amid OPEC uncertainty U.S. equities closed higher on Tuesday, led by health care and real estate, as investors digested falling oil prices ahead of a key OPEC meeting, as well as economic data. The Dow Jones industrial average closed about 25 points higher, with UnitedHealth Group contributing the most gains. The S & P 500 gained 0.1 percent, with health care and real estate rising about 0.7 percent. The Nasdaq composite outperformed, closing 0.2 percent higher and hitting a new Intraday high of 5,403.86. The three major indexes traded lower earlier in the session. US stocks closed lower on Monday, as a post-election rally paused, with the major indexes dropping off from all-time high levels. The small-caps Russell 2000, which has been outperforming large-cap indexes, fell more than 1 percent, Snapping a 15-day winning streak, its longest in 20 years. " I think we' re at a point where people are afraid of pushing the market too far off the fundamentals, but I do not think there are any news that could push the market markedly lower" in the near term, said Bruce McCain, Chief investment strategist at Key Private Bank. OPEC are set to meet in Vienna, Austria on Wednesday and traders will be keeping a close eye on announcements regarding an oil production cut. In September, OPEC had outlined A deal to cut output by approximately 1 million barrels per day. " All eyes are on the next OPEC meeting and traders are awaiting the decision. The headlines are not very positive and this is making investors very jittery," Naeem Aslam, chief market analyst at Think Markets, said in a note. Indonesian Energy Minister Ignasius Jonan said he was not sure OPEC would clinch a deal to limit oil output when it met. Meanwhile, non-OPEC producer Russia confirmed on Tuesday it would not attend the OPEC gathering, but added that a meeting between the group and Non-affiliated producers at a later stage was possible. In economic news, the second read on third-quarter GDP came in at an annualized rate of 3.2 percent, above a previous reading of 2.9 percent. Gold futures for December delivery fell $ 2.90 to $ 1,187.90 per ounce. Read more.... |
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WanSiTong
Supreme |
29-Nov-2016 17:47
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Straits Times Index 2,879.14 0.16% +4.49 ▲
Singapore shares close mixed STI gains but broad market weakens THE Straits Times Index drifted for most of Tuesday' s session, tracking movements in the Dow futures and Hong Kong before ending at 2,879.14 for a gain of 4.49 points on the day. More important, however, was that turnover slipped to 1.9 billion units worth S $ 1.03 billion compared to Monday' s S $ 1.1 billion. Excluding warrants there were 177 rises versus 225 falls. Traders said that there were signs that the post-Trump, " risk-on" rally might be losing momentum, probably as markets come round to the realisation that his election promises - difficult though they may be to implement - would result in higher US interest Rates and may lower international trade. |
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WanSiTong
Supreme |
29-Nov-2016 17:01
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Hong Kong Shares End Down Finance Stocks Lead Declines on Italy Worries The Hang Seng Index ended lower Tuesday, declining 0.4%, largely weighed down by financial stocks like HSBC Holdings, which fell 1.5% as the day' s worst performing blue-chip. Looking ahead, two major events that will impact the market next week include the Italian referendum and the launch of the Shenzhen-Hong Kong Stock Connect. The launch of the Shenzhen link has been fully priced in a while ago, but there might be some profit taking on Monday for the Hang Seng Index, says Daniel So, strategist at CMB International Securities. Among other banking stocks Tuesday, Bank of China declined 0.9%, while Bank of Communications lost 0.8%. |
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WanSiTong
Supreme |
29-Nov-2016 15:14
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European markets to open lower as oil prices dip European bourses are seen lower Tuesday as investors focused on talks between OPEC members and the political uncertainty mounting ahead of a key referendum in Italy. OPEC oil producers are preparing for a critical meeting on Wednesday where they aim to agree on a production cut. However, oil prices are trading lower as investors doubt that a deal will be reached. On Monday, OPEC technical teams reportedly failed to agree on any Details for the proposed cuts. |
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Goldfinger
Supreme |
29-Nov-2016 10:53
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Seems to be a lot of underlying strength in the STI - kinda like everyone knows it's oversold and seriously undervalued relative to other markets but all are hoping for a black swan or Fed rate hike induced correction to buy even cheaper etc etc. Even like during Brexit and Trumpit - people were still happily buying and no panic selling. Let's see what happens between now and CNY.. | |||||||||||||||||||||||||||||||||||||||||||||||||
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WanSiTong
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29-Nov-2016 09:47
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Asian Indexes
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