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STI to cross 3000 boosted by long-term investors
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WanSiTong
Supreme |
18-Sep-2015 13:02
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Noon Market STI up 0.68% to 2,915.47 at midday September 18, 2015: 12:20 PM Singapore stocks were trading higher at noon on Friday after the US Federal Reserve kept its benchmark interest rate unchanged. Most regional markets also rose with the KOSPI and Hang Seng Indices rose around 0.6% and 0.4% respectively. The Shanghai and Shenzhen Composite Indices also posted respective gains of about 0.4% and 0.5%. The Nikkei 225 Index however shed about 1.3%, as the yen strengthened after the Fed' s decision. Back at home, By 12.07pm, the Straits Times Index rose 0.68% to 2,915.47. Market breadth was positive. Excluding warrants, gainers outnumber decliners 243 to 86. Among the blue chips, CapitaLand (Valuation: 2.60, Fundamental: 1.00) Mall Trust rose 3.4% to $ 1.97, Noble rose 3.2% to 48.5 cents while ThaiBev rose 2.9% to 70 cents and Keppel rose 2.7% to $ 7.26. The Straits Times Index traded between 2,889.06 and 2,919.77, after opening 0.09% lower at 2,893.21. A total of 547.8 million shares worth $ 620 million changed hands, giving an average price of about $ 1.13 per share for the entire market. Noble Group (Valuation: 2.00, Fundamental: 0.35), Geo Energy Resources (Valuation: 0.30, Fundamental: 0.65), Debao Property Development (Valuation: 3.00, Fundamental: 1.00), Golden Agri-Resources (Valuation: 1.40, Fundamental: 0.55 ), and Vallianz Holdings (Valuation: 2.40, Fundamental: 0.55) were among the most actively traded counters. Ascendas REIT rose 2.2% to $ 2.29 after announcing it is acquiring A $ 1 billion worth of logistics properties in Australia. The portfolio comprises 26 assets, with a gross floor area of 630,946 sqm, will be purchased from the real estate arm of the Government of Singapore Investment Corporation (GIC) and Frasers Property Australia, through their subsidiaries and affiliates. Silverlake Axis (Valuation: 2.10, Fundamental: 3.00) rose 3% to 55.5 cents The provider of computing solutions and services to banks and financial institutions is buying SunGard Ambit (Singapore) or SAS - also previously known as System Access Limited -. for US $ 12 million ($ 16.8 million) expand its suite of software and services. Jasper Investments (Valuation: 0.00, Fundamental: 0.20) last traded at 0.6 cent on Tuesday The provider of engineering and construction services to the oil and gas sectors requested for a trading halt on its shares pending the release of an announcement.. Datapulse Technology (Valuation: 0.80, Fundamental: 2.35) rose 2% to 9 cents The media storage products manufacturer proposed to undertake a consolidation of every 3 existing ordinary shares in the capital of the company as at a books closure date to be determined into. one ordinary share, with fractional entitlements to be disregarded. This is to comply with the minimum trading price of 20 cents per share as a continuing listing requirement. Hong Fok Corporation (Valuation: 2.00, Fundamental: 1.15) surged 5% to 67 cents, before the property developer requested for a trading halt on its shares pending the release of an announcement. Companies that went ex-dividend on Friday include Riverstone Holdings |
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WanSiTong
Supreme |
18-Sep-2015 12:27
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Global Markets Asian shares edge up, dollar soft as Fed stands pat and eyes China By Reuters / Reuters | September 18, 2015: 12:02 PM TOKYO / SINGAPORE (Sept 18): Asian shares rose modestly on Friday on relief the Federal Reserve held off on raising interest rates but gains were capped by renewed concerns about the health of the global economy, in particular China. The dollar was on the defensive, having fallen more than 1% after the Fed' s decision, while US bond yields plunged, erasing their sharp rises in the past couple of days. MSCI' s broadest index of Asia-Pacific shares outside Japan rose 0.3%, led by financials, although Japan' s Nikkei average fell 1.4%, tracking losses on Wall Street. Major Wall Street indexes gave up a 1% rally to end lower, with the S & P 500 index losing 0.3%. Fed Chair Janet Yellen said the outlook abroad has appeared to become less certain, adding that recent falls in US stock prices and a rise in the value of the dollar already were tightening US financial market conditions. " I think today' s decision will prove positive for markets in the end. But volatility is likely to remain high as markets, like the Fed, will still have to confirm the US economy is withstanding the adverse impact from the global economy," said Yoshinori Shigemi , global market strategist at JPMorgan Asset Management. Analysts and traders had been nearly evenly split on whether the Fed would raise rates for the first time in nearly a decade, though markets had priced in only a one-in-four chance of a hike. The Fed' s fresh economic projections showed 13 of 17 policymakers still foresee raising rates at least once in 2015, down from 15 at the last forecast made in June. Financial markets, which have constantly forecast a far slower pace of policy tightening than the Fed' s projections, were less convinced. Instruments such as federal fund futures and overnight indexed swap are pricing in only about one in two chance of a rate hike by the end of year. For the Fed to raise rates, Yellen said she wanted to see more improvement in the US labour market and expressed concern over weak inflation. Referring to the global outlook, Yellen explicitly said the central bank was focusing on the slowdown in China and emerging markets, saying one key issue is whether there might be a risk of a more abrupt slowdown in China. " Yellen specifically mentioned China as a key influencer in their decision This means China and its regulators are now in the driver' s seat and that is not a thought that brings down uncertainty -. Quite the contrary," said Asia-Pacific managing director at risk management firm Axioma in Singapore. The spectre of lingering uncertainty, some traders say, could be one reason risk asset markets were mixed. " Going into the Fed' s meeting, there were three scenarios. A rate hike and dovish outlook, no hike with hawkish comments and a no hike with dovish comments. People seem to think the result was no hike and dovish comments. Despite that, risk assets had a tepid reaction, " said a currency trader at a Japanese bank. " Looking at the way markets are reacting, risk assets could come under selling pressure again," he added. As the prospects of higher interest rates down the road had been a major attraction for the dollar, the US currency was wobbly against many other currencies. The dollar index against a basket of major currencies was little changed at 94.559 on Friday, having fallen to a three-week low of 94.360 on Thursday. The euro jumped to a three-week high of US $ 1.14415 on Thursday before easing to US $ 1.1403, while the British pound also hit a three-week high of US $ 1.5628 before retreating a tad to US $ 1.5575. The yen also edged up 120.12 to the dollar, from Thursday' s low at 120.995. |
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WanSiTong
Supreme |
18-Sep-2015 09:05
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Stocks To Watch Ascendas REIT, Genting HK, Silverlake Axis, Soilbuild, TTJ, iX Biopharma September 18, 2015: 8:57 AM Here are some stocks that could move the market this Tuesday morning. Ascendas REIT is proposing the acquisition of a portfolio of 26 freehold logistics properties located in Australia for $ 1 billion, from the real-estate arm of GIC and Frasers Property Australia. The proposed acquisition is expected to generate a net property income yield of 6% post -transaction costs. Ascendas REIT closed 1.4% higher at $ 2.24 on Thursday. Genting Hong Kong (Valuation: 2.40, Fundamental: 2.10). Has entered into an agreement to acquire 50% and 70% equity stakes in Germany-based companies LIV and LWB respectively for EUR17.5 million ($ 27.9 million) LIV is principally engaged in letting and leasing real estate and operating facilities, while LWB is principally engaged in operating a shipyard. Genting Hong Kong says the investment acquisition will " facilitate the company' s fleet expansion and brand development plan" . Shares of Genting Hong Kong on SGX ended at 30.5 US cents. Silverlake Axis (Valuation: 2.10, Fundamental: 3.00), the provider of computing solutions and services to banks and financial institutions, is buying SunGard Ambit (Singapore) or SAS - also previously known as System Access Limited - for US $ 12 million ( $ 16.8 million) expand its suite of software and services. Silverlake Axis closed at 54 cents. Soilbuild Construction Group' s wholly owned subsidiary, Soil-Build Limited (Valuation: 1.80, Fundamental: 2.10), together with its joint-venture partner Shincon Industrial, have won a construction contract worth $ 39.7 million by the LTA to construct covered linkways to Downtown Line 3 and the Tuas West Extension Stations. Soilbuild closed flat at 24.5 cents. TTJ Holdings (Valuation: 2.40, Fundamental: 3.00). Has won structural steelworks contracts worth $ 16 million in Singapore and Malaysia It will engage in structural steelworks for a liquefied natural gas project at Pengerang, Johor, and will provide civil defence doors for MRT Stations along the Thomson Line. Shares of TTJ ended at 32.5 cents. iX Biopharma' s lead drug product, Wafermine, has passed the Phase 2a and 2b clinical trials, which were approved by the US Food & Drug Administration. Wafermine is one of three iX Biopharma products under development and the world' s first oralsublingual analgesic employing ketamine as its active compound. Shares of iX Biopharma ended at 28.5 cents. Markets Major Wall Street indexes gave up a 1% rally to end lower on Thursday after the Federal Reserve cited concerns about global economic growth in its decision to hold off on raising interest rates. The Dow Jones industrial average fell 65.21 points, or 0.39%, to 16,674.74, the S & P 500 lost 5.11 points, or 0.26%, to 1,990.2 and the Nasdaq Composite added 4.71 points, or 0.1%, to 4,893.95. Meanwhile, Singapore stocks ended higher earlier on Thursday. The Straits Times Index ended the day 0.94% higher at 2,895.81, after trading between 2,877.23 and 2,903.58. Gainers outnumbered decliners 221 to 161. A total of 1.08 billion shares worth about $ 1.15 billion changed hands. |
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WanSiTong
Supreme |
18-Sep-2015 08:50
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Global Markets Asian shares seen falling, dollar soft after Fed holds rates By Reuters / Reuters | September 18, 2015: 8:14 AM TOKYO (Sept 18): Asian shares are likely to fall on Friday after the US Federal Reserve held off on raising interest rates, reviving concerns about global economic weakness. The dollar was on back foot, having fallen more than 1 percent after the Fed' s decision while US bond yields plunged, erasing their sharp rises in the past couple of days. Nikkei futures traded in Chicago pointed to a fall of about 0.9 percent in the Nikkei average. Major Wall Street indexes gave up a 1 percent rally to end lower, with the S & P 500 index losing 0.3 percent. Fed Chair Janet Yellen said the outlook abroad has appeared to become less certain, adding that recent falls in US stock prices and a rise in the value of the dollar already were tightening financial market conditions. Analysts and traders had been nearly evenly split on whether the central bank would raise rates for the first time in nearly a decade. " I think today' s decision will prove positive for markets in the end. But volatility is likely to remain high as markets, like the Fed, will still have to confirm the US economy is withstanding the adverse impact from the global economy," said Yoshinori Shigemi , global market strategist at JPMorgan Asset Management. The Fed' s fresh economic projections showed 13 of 17 policymakers still foresee raising rates at least once in 2015, though that is down from 15 at the last forecast made in June. Financial markets, which have constantly forecast a far slower pace of policy tightening than the Fed' s projections, were less convinced. Instruments such as federal fund futures < 0 # FF:> and overnight indexed swap are pricing in only about one in two chance of a rate hike by the end of year. The Fed' s decision to keep rates at zero could give some relief to emerging markets, which have long suffered capital outflows on expectation of higher US rates, but trade-reliant Asian economies are likely to remain under pressure as China' s economy slows. As the prospects of higher interest rates down the road had been a major attraction for the dollar, the US currency slipped against many other currencies. The dollar index fell to 94.360, its lowest level since Aug 26. The euro jumped to a three-week high of $ 1.14415 while the British pound also hit a three-week high of $ 1.5628. The yen also edged up 120.12 to the dollar from Thursday' s low at 120.995. Longer-dated US debt yields plunged, with the two-year notes yield dropping to 0.686 percent, returning to its familiar range only a day after it hit a 4 1/2-year high of 0.819 percent. The 10-year notes yield slipped to 2.192 percent from Wednesday' s 1 1/2-month high of 2.303 percent. Commodity prices were also relatively well-supported with US crude futures last trading at $ 46.83 per barrel, down slightly from Thursday' s high of $ 47.71 but still up almost 5 percent on the week. Gold hit a two-week high of $ 1,136 per ounce -. Reuters |
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valuebuyer
Senior |
18-Sep-2015 08:38
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Not a good new, please see DBS analyst comment in zaobao.
美 国 联 邦 储 备 局 政 策 会 议 即 将 结 束 ， 投 资 者 在 会 议 结 果 前 选 择 性 吸 购 股 票 ， 促 使 本 地 股 市 昨 日 再 升 0.9％ 。 星 展 集 团 研 究 行 认 为 ， 联 储 局 要 是 决 定 加 息 ， 并 发 出 声 明 说 明 年 才 再 次 加 息 ， 市 场 应 该 会 有 正 面 反 应 ， 因 为 这 将 扫 除 一 个 不 明 朗 因 素 ， 而 且 也 反 映 出 联 储 局 对 美 国 经 济 的 信 心 ， 预 料 海 峡 时 报 指 数 会 因 此 上 试 3050点 。 可 是 如 果 联 储 局 决 定 不 在 本 周 加 息 ， 而 是 可 能 等 到 12月 才 这 么 做 ， 将 让 人 觉 得 联 储 局 对 当 前 宏 观 不 明 朗 局 面 持 谨 慎 的 态 度 ， 这 将 导 致 投 资 者 恢 复 观 望 的 态 度 ， 股 市 将 走 软 ， 本 地 股 市 或 因 此 下 试 2750点 。
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WanSiTong
Supreme |
18-Sep-2015 08:27
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Yellen may emulate taper template and raise rates in December By Bloomberg / Bloomberg | September 18, 2015: 8:21 AM WASHINGTON (Sept 18): Federal Reserve Chair Janet Yellen shows signs of taking a page out of her predecessor' s policy playbook as she inches toward the central bank' s first interest rate increase in nine years: Delay action in September only to move in December. While the Fed on Thursday opted to keep rates pinned near zero for now, Yellen told a press conference that most policy makers still expect to raise rates this year. She highlighted the strength of the US economy, tying the decision to delay liftoff to fresh uncertainty about the outlook abroad and to financial market turbulence over the past month. " I do not want to overplay the implications of these recent developments, which have not fundamentally altered our outlook," she said. " The economy has been performing well, and we expect it to continue to do so." Yellen' s approach has parallels to the strategy that former Fed Chairman Ben S. Bernanke pursued in 2013 as officials debated whether to start scaling back bond purchases. Citing uncertainties to the outlook, Bernanke put off a move to begin tapering in September before deciding to go ahead in December. Just like today, much of the Fed' s initial reservations about acting in 2013 centered on developments in emerging markets, which had been rocked by Bernanke' s suggestion a few months earlier that a taper was on its way. Looming in the background then, as it is now , was the threat of a US government shutdown. Then and Now Today' s situation " lines up in so many ways" with that of 2013, said Aneta Markowska, chief US economist at Societe Generale in New York, pointing to the upcoming fiscal showdown and emerging market concerns. " If all of that is resolved by December, my expectation is that the data will definitely support a hike. " Investors may get more clues to Yellen' s thinking when she speaks on Sept 24 in Amherst, Massachusetts. Traders in the federal funds futures market marked down the chances of a December rate rise to below 50% following news of the decision, compared with 64% on Wednesday. That' s based on the assumption that the effective fed funds rate will average 0.375% after liftoff . " When they did not go then, I think there was a very strong sense that they would go in December," said Michael Feroli, chief US economist at JPMorgan Chase & Co. in New York, referring to Bernanke' s taper. " Now, people are even having doubts about whether they will even go this year. " Feroli himself forecasts a December move. Yellen said the Federal Open Market Committee discussed the possibility of raising rates at this week' s meeting, but decided not to in light of the heightened uncertainties abroad and the slightly lower expected path for inflation. Wait and See " The Committee judged it appropriate to wait for more evidence, including some further improvement in the labor market, to bolster its confidence that inflation will rise to 2% in the medium term," she said. Slowing growth in China has rippled across the world, hitting commodity-producing countries hard. Domestically, Fed officials are also grappling with an inflation rate that remains too low, rising just 0.3% for the 12 months ended July, according to the Fed' s preferred measure of price pressures. " They clearly are a bit risk averse," said Luke Tilley, chief economist at Wilmington Trust in Wilmington, Delaware, which manages US $ 77 billion ($ 107.6 billion). " They are ultimately looking for that confidence for inflation to come back up." Tilley said Fed officials will be watching for some stabilisation in commodity prices and a firming in market-based measures of inflation expectations. Inflation Expectations Yellen said the FOMC " has taken note" of recent declines in those measures and would " continue to monitor inflation developments carefully." " I think our credibility hinges on defending our inflation target, not only from threats that it rises above, but also that we not have, over the medium-term, that we want to see inflation get back to 2 percent," she said. She also repeatedly highlighted the importance of continued improvements in the jobs market to help buttress her confidence that inflation ultimately will rise back to the Fed' s 2% goal In Yellen' s view of the world, wage increases -. And inflation - should start to accelerate as unemployment falls further and further. The economy created 2.92 million jobs in the year ended in August, pushing the jobless rate down to 5.1%, around the level that many Fed policy makers consider full employment. The labour market is not the only thing percolating. Consumer spending, which Yellen said was the main driver of the economy, climbed 3.2% in the 12 months through July, among the best year-over-year readings of the current expansion. And the turmoil in financial markets did not deter households in August, with auto sales climbing to their highest level since 2005. Impressive Performance " We are looking at, as I emphasised, a US economy that has been performing well and impressing us by the pace at which it is creating jobs and the strength of domestic demand," Yellen said. While she held out the possibility of the Fed raising rates at its next meeting in October, economists and traders were not buying it. The odds of a move next month are only about one in five, according to dealings in the fed funds futures market . Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, said it may even be tough for Yellen to fully convince investors that the Fed is going to go ahead with a rate rise this year. " It is going to be very hard to change market psychology," he said. " Traders feel the odds favor additional delay on Yellen' s part." " My forecast is December, but I would not stake my life on it," he added. |
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WanSiTong
Supreme |
18-Sep-2015 08:23
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Highlight Fed holds rates steady in nod to global economic weakness WASHINGTON (Sept 18): Federal Reserve Chair Janet Yellen holds a news conference following the Federal Open Market Committee meeting in Washington September 17, 2015. The US Federal Reserve kept interest rates unchanged on Thursday in a nod to concerns about a weak world economy, but left open the possibility of a modest policy tightening later this year. In what amounted to a tactical retreat, the US central bank said an array of global risks and other factors had convinced it to delay what would have been the first rate hike in nearly a decade. " Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term," the Fed said in its policy statement following the end of a two-day meeting. It added the risks to the US economy remained nearly balanced but that it was " monitoring developments abroad." However, the central bank maintained its bias toward a rate hike sometime this year, while lowering its long-term outlook for the economy. Fresh economic projections showed 13 of 17 Fed policymakers foresee raising rates at least once in 2015, down from 15 at the last meeting in June. Four policymakers now believe rates should not be raised until at least 2016, compared to two who felt that way in June. The Fed has policy meetings in October and December. In deciding when to hike rates, the Fed repeated that it wanted to see " some further improvement in the labour market," and be " reasonably confident" that inflation will increase. The dollar was marked lower against the euro and the yen, falling one percent against the European currency. Stocks initially edged higher before turning lower in choppy trade while the three year Treasury yield hit a one-week low. Taken as a whole, the latest Fed projections of slower GDP growth, low unemployment and still low inflation suggest that concerns of a so-called secular stagnation may be taking root among Fed policymakers. One policymaker even suggested a negative federal funds rate. The median projection of the 17 policymakers showed the Fed expects the economy to grow 2.1% this year, slightly faster than previously thought. However, its forecasts for GDP growth in 2016 and 2017 were downgraded. Policymakers also forecast inflation to creep only slowly toward the Fed' s 2% target even as unemployment dips lower than previously expected. They now expect the unemployment rate to hit 4.8% next year, remaining at that level for as long as three years. The Fed' s projected path of interest rates shifted downward, with the long-run federal funds rate now seen at 3.5%, compared to 3.75% at the last policy meeting. " The Fed has become more dovish, with growth projections revised down amid rumblings of ' secular stagnation' . But there' s a clear signal that, in the absence of any serious derailing of the economy, rates will rise before the year is out," said Chris Williamson of financial information services Markit. Fed Chair Janet Yellen was scheduled to hold a press conference later Thursday afternoon to elaborate on the decision. The vote on the policy statement was a sign of how China' s economic slowdown and market slide left Fed officials unnerved about the state of the world economy. Only Richmond Fed President Jeffrey Lacker dissented. In recent months Fed officials like board member Jerome Powell and Atlanta Fed President Dennis Lockhart had publicly endorsed a September rate hike, forming a near majority along with longstanding inflation hawks like Lacker. In the end, however, they were left with a muddled picture marked by low US unemployment and steady economic growth, but no sign that inflation has begun to rise toward the Fed' s target. |
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bishan22
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18-Sep-2015 08:08
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Fed hike gone.... what will be the next knee jerk issue.... 
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WanSiTong
Supreme |
18-Sep-2015 06:58
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What a Fed rate hike would mean for youThe Federal Reserve is expected to raise interest rates soon -- maybe even Thursday afternoon.It would be the U.S. central bank' s first rate hike in almost a decade. Whenever it comes, a rate hike will have implications for millions of Americans. It' s important if you have a credit card or savings account, invest in a 401(k) or in the markets, or want to buy a home or car. The Fed slashed interest rates to zero in December 2008 to help stimulate the economy and housing market during the depths of the Great Recession. The economy is much better now. The first rate hike won' t be a game changer overnight. But it would pave the way for more hikes over the next year or two, and rates on all types of things will gradually move up, experts say. " The precise starting date [of rate hikes] is much less important than the path of rate increases that follows," says Robert Denk, senior economist at the National Association of Home Builders. Here' s what you need to know about a Fed rate hike. Related: Meet Janet Yellen: the world' s most powerful woman 1. Home buyers: Interest rates are still very low 2. Savers can (eventually) smile 3. Stock markets could get even more volatile 4. Will the global gloom continue? Sometimes economists refer to the Fed as the " World' s Central Bank" because its actions have lots of implications for global economies. Ultimately what' s bad news overseas ends up hurting the U.S. too. China' s economy is already slowing down and developing economies are struggling with plunging currencies and low commodity prices. The concern is that the Fed' s rate hike can cause a b oomerang effect: (1) the Fed raises rates, (2) that hurts other economies even more, and then (3) economic woes in developing countries eventually hurt U.S. trade and economic growth. A rate hike has upsides and downsides, says Diane Swonk, chief economist at Mesirow Financial. The U.S. economy could gain additional momentum behind home buyers trying to lock in low mortgage rates. " The downside risks, however, is that a rate hike adds insult to injury in an uncertain world and causes a moderation in growth," says Swonk. Related: The loud chorus of voices telling the Fed ' don' t do it!' .....read more |
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WanSiTong
Supreme |
18-Sep-2015 06:35
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The Fed did nothing. What now?The Federal Reserve once again sat tight and left interest rates near zero -- where they have been since December 2008. Maybe the Fed' s favorite indie rock band is The Hold Steady?The Fed cited concerns that " recent global economic and financial developments" -- a thinly veiled reference to China -- could dampen the economy and lead to lower levels of inflation. Traders (both flesh and blood and the computer algorithm kind) seemed unsure how to react to the news. Stocks bounced around immediately after the decision. But the Fed' s move has big implications beyond today. So what should long-term investors (some of you are still out there, right?) do now? Think domestic Make no mistake. A rate hike -- like winter on " Game of Thrones" -- is still coming. It' s probably going to be December. " Nothing has changed. The Fed is going to hike rates eventually. The U.S. economy is strong enough to handle that," said Brent Schutte, senior investment strategist for BMO Global Asset Management. Related: Fed leaves rates near 0% With that in mind, Schutte said investors should probably stick with large blue chip stocks. They will be able to benefit the most from an improving economy in the United States. Jim Margard, a portfolio manager with Rainier Investment Management, said focusing on companies with a big U.S presence is a good way to position your portfolio. The Fed' s rate hike could make the dollar stronger, which is better news for firms that don' t have as much overseas exposure. What' s more, the decision to raise rates in the first place is further evidence that the Fed believes the U.S. economy is fairly healthy. Margard likes grocery store chain Kroger (KR), floor and carpeting company Mohawk (MHK) and airlines JetBlue (JBLU) and Southwest (LUV). Tom Forester, manager of the Forester Value Fund, also thinks that a defensive mix of companies with most of their revenue from the United States is the way to go. Some of his top picks? Drugstore giant CVS (CVS), insurer UnitedHealth (UNH), big electric utilitySouthern (SO) and consumer goods conglomerate Jarden (JAH), which owns Yankee Candle, Crock-Pot and Mr. Coffee. Be wary of the banks There was one sector of the market that was a clear loser Thursday: banks. An eventual interest rate hike will help financial firms. Simply put, they charge higher rates for mortgages, credit cards and other loans once the Fed boosts short-term rates. That would boost the banks' profit margins. Shares of megabanks JPMorgan Chase (JPM), Bank of America (BAC) and Wells Fargo (WFC) all turned lower after the Fed' s decision. So did shares of regional banks Fifth Third (FITB), PNC (PNC)and SunTrust (STI). " Postponing a rate hike is going to put pressure on the banks' margins for even longer," said Gary Cloud, portfolio manager with the Hennessy Equity and Income Fund. Don' t bail on bonds yet The bond market rallied -- with prices going up and rates heading lower -- after the Fed' s move. The 10-Year Treasury yield fell to 2.2% -- from 2.3% a day earlier. That' s a pretty dramatic move for bond yields. Many experts have been predicting for some time that bond yields must move higher soon. Related: Stocks volatile after Fed But this amazing bull market for bonds that has lasted for decades may not be over yet. " There has been an almost one-way trade for 30 years in bonds. The drop in yields is extraordinary." said Luke Hickmore, a fixed income manager with Aberdeen Asset Management. Another reason for bond investors to be relieved? It looks like the Fed is not planning to increase dramatically anytime soon. Mike Collins, portfolio manager for Prudential Fixed Income' s total return bond fund, noted that the Fed' s so-called dot plot of interest rate targets shows that rates will be lower in the long-term than once thought. " Investors can still look for opportunities in the bond market," he said, but he added that corporate bonds and high-yield bonds may now be more attractive than short and long-term Treasuries. Related: Why the Fed should have raised rates Related: Here' s how the Fed has handcuffed itself |
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WanSiTong
Supreme |
18-Sep-2015 06:31
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Dow -0.39% 16,674.74 / -65.21 Nasdaq +0.10% 4,893.95 / +4.71 S & P -0.26% 1,990.20 / -5.11 Wall Street ends down after choppy session Fed holds rates Major Wall Street indexes gave up a 1-percent rally to end lower on Thursday after the Federal Reserve cited concerns about global economic growth in its decision to hold off on raising interest rates. The U.S. central bank held rates steady in a bow to worries about the global economy, financial market volatility and sluggish inflation at home, but it left open the possibility of a modest policy tightening later this year. The S& P financial index .SPSY led the decline after being among the top performers throughout the prior five sessions. The decline in financial stocks, which benefit from higher rates, alongside the rise in utility stocks suggest that investors now believe interest rates will remain low for longer than previously expected. Investors' focus turned to the next Fed meeting on Oct. 27-28 as they were still left to figure out the timing for the Fed' s first benchmark rate increase since 2006. Trading was extremely choppy after the Fed' s 2 p.m. statement, with major U.S. indexes swinging between session highs and lows. The three major U.S. indexes all rose more than 1 percent for a while during Fed Chair Janet Yellen' s 2.30 p.m. press conference, but then retreated. " All the uncertainty that was in the market leading up to this meeting is still in place. There was very little clarity given," said John Culbertson, chief investment officer of Context Asset Management in Philadelphia. " You' re going to hear the same conversation in the markets for the next 30 days that you heard in the last 90 days," he said, citing difficulties making " high-conviction trades." Questions about when the Fed will shift gears have dogged Wall Street for months - a situation complicated in recent weeks by market turbulence linked to slowing growth in China and worries about the health of the global economy. &ldquo In our minds it was the correct decision. The inflation data does not support a rate hike at this time. You throw in some of the global turbulence and (that) supports the decision to leave rates unchanged," said Brian Rehling, co-head of global fixed income at Wells Fargo in St. Louis. The Dow Jones industrial average .DJI fell 65.21 points, or 0.39 percent, to 16,674.74, the S& P 500 .SPX lost 5.11 points, or 0.26 percent, to 1,990.2 and the Nasdaq Composite.IXIC added 4.71 points, or 0.1 percent, to 4,893.95. Ahead of the news, U.S. interest rates futures had indicated only a 25-percent chance the central bank would raise rates on Thursday, and 35 of 80 economists polled by Reuters earlier this week expected an increase. Only four of the 10 major S& P sectors ended higher, with the utility index, up 1.3 percent, having the best day. The financial services index .SPSY turned negative during Yellen' s comments and ended down 1.3 percent while the telecommunications index dropped 1.1 percent. Trading was heavy with almost 8 billion shares changing hands on U.S. exchanges on Wednesday, in line with the 8.1 billion daily average for the previous 20 trading days, which saw a spike in volume according to Thomson Reuters data. Advancing issues outnumbered decliners on the NYSE 1,866 to 1,201, for a 1.55-to-1 ratio on the upside on the Nasdaq, 1,546 issues rose and 1,244 fell for a 1.24-to-1 ratio favoring advancers. The S& P 500 posted 15 new 52-week highs and 2 lows the Nasdaq recorded 59 new highs and 31 lows. |
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risktaker
Supreme |
18-Sep-2015 04:10
Yells: "Posts are opinions. Do not take it as investment advise " |
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short covering only....
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joshua182
Member |
18-Sep-2015 04:02
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closed below 1990.. intraday fluctuations matter little other than for day traders
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victortan
Elite |
18-Sep-2015 02:33
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x 0
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S& P back above 2000, good correction is officially over. |
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tomhanks
Master |
18-Sep-2015 02:31
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Fed leaves interest rates unchanged: http://www.bloomberg.com/news/articles/2015-09-17/fed-leaves-interest-rates-unchanged-at-zero-0-25-target-range |
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halleluyah
Supreme |
17-Sep-2015 14:47
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x 0
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HSI lau sai iao... |
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WanSiTong
Supreme |
17-Sep-2015 13:09
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Noon Market STI up 0.94% to 2,895.67 at midday September 17, 2015: 12:20 PM Asian stocks advanced for a second day, while the dollar weakened against major peers as investors remained split on whether the Federal Reserve will opt to raise interest rates Thursday. The Nikkei 225 Index edged up about 0.8%, while the KOSPI and Hang Seng Indices added around 0.1% and 0.7% respectively. The Shanghai and Shenzhen Composite Indices also posted respective gains of about 0.5% and 1.3%. Singapore investors also brushed off weaker-than-expected numbers for the domestic economy. Singapore' s non-oil domestic exports fell 8.4% yoy in the month of August, trailing consensus estimates of a 3.5% yoy contraction. By 12.11pm, the Straits Times Index had gained 0.94% to 2,895.67. Market breadth was positive. Excluding warrants, gainers outnumber decliners 183 to 108. The Straits Times Index traded between 2,877.23 and 2,899.18, after opening 0.31% higher at 2,877.59. A total of 565.2 million shares worth $ 556.8 million changed hands, giving an average price of about 99 cents per share for the entire market. . Among the blue chips Rigbuilders Keppel Corp rose 3.7% to $ 7.07 while SembMarine rose 2.0% to $ 2.39 Sembcorp Industries (Valuation: 2.40, Fundamental: 1.10). Also rose 3.6% to $ 3.50 after the conglomerate unveiled plans for its seventh Vietnam Singapore Industrial Park (VSIP) development located in the Nghe An province. Mercator Lines (Singapore) (Valuation: 0.90, Fundamental: 0.00), Golden Agri-Resources (Valuation: 1.40, Fundamental: 0.55), Ezra Holdings (Valuation: 2.10, Fundamental: 0.60), New Silkroutes Group, and TLV Holdings were among the most actively traded counters. Sunpower Group (Valuation: 1.80, Fundamental: 1.00). Last traded at 19.4 cents on Wednesday The environmental protection solutions provider has entered into a placement agreement of up to 400 million shares for Stirling Coleman Capital to procure subscribers at an issue price of 14 cents each on a " best endeavour basis" . This will raise gross proceeds of up to $ 56 million. Elec & Eltek International last traded at 71 US cents on Tuesday. The printed circuit boards maker posted US $ 3.3 million ($ 4.6 million) in losses for the second quarter ended June, compared with US $ 4.3 million in earnings one year ago. Revenue fell 14.6% to US $ 116 million. TLV Holdings rose over 27% to 28 cents in the Singapore-based jeweller' s trading debut on the Catalist board. SHS Holdings last traded at 25 cents on Wednesday. The corrosion prevention, structural steel and facade engineering company requested for a trading halt pending the release of an announcement. There were no companies that went ex-dividend on Thursday. |
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WanSiTong
Supreme |
17-Sep-2015 12:11
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Oil holds biggest price gain in two weeks after surprise fall in US stockpiles September 17, 2015: 11:39 AM Oil held its biggest advance in two weeks as an unexpected decline in US crude stockpiles eased a global glut. Futures were little changed in New York after climbing 5.7% Wednesday. Inventories fell by 2.1 million barrels through Sept 11 as output slid a sixth week and refineries increased operating rates for the first time since July, government data showed. Supplies were forecast to expand by two million barrels in a Bloomberg survey. Oil is down more than 20% from this year' s closing peak in June amid a global oversupply that Goldman Sachs Group estimates is even bigger than it first thought. US stockpiles remain about 100 million barrels above the five-year seasonal average. " Production continues to head in the right direction, " Ric Spooner, a chief analyst at CMC Markets in Sydney, said by phone." The two million barrels shaved off inventories does not change much in the big picture but down is better than up. " West Texas Intermediate for October delivery was at US $ 47.11 ($ 66.4) on the New York Mercantile Exchange, down four US cents, at 11.56 am Sydney time. US $ 47.15 on Wednesday. The volume of all futures traded was about 16 per cent above the 100 -day average. Prices are down 12 per cent this year. Brent for November settlement was three US cents lower at US $ 49.72 a barrel on the London-based ICE Futures Europe exchange. It rose US $ 2 to US $ 49.75 on Wednesday. The European benchmark crude traded at a premium of US $ 2.19 to WTI for November. US crude production dropped by 18,000 barrels a day to 9.1 million a day last week, the Energy Information Administration reported Wednesday. Output has slipped by 493,000 barrels a day since the start of June when the nation pumped at the fastest rate since 1983, according to weekly data from the EIA. Nationwide stockpiles fell to 455.9 million barrels as refinery utilization climbed by 2.2 percentage points to 93.1, the first gain since the week ended July 31, the EIA reported. Crude inventories at Cushing, Oklahoma, declined by 1.9 million barrels to 54.5 million. Brent for November settlement was three US cents lower at US $ 49.72 a barrel on the London-based ICE Futures Europe exchange. It rose US $ 2 to US $ 49.75 on Wednesday. The European benchmark crude traded at a premium of US $ 2.19 to WTI for November. US crude production dropped by 18,000 barrels a day to 9.1 million a day last week, the Energy Information Administration reported Wednesday. Output has slipped by 493,000 barrels a day since the start of June when the nation pumped at the fastest rate since 1983, according to weekly data from the EIA. Nationwide stockpiles fell to 455.9 million barrels as refinery utilization climbed by 2.2 percentage points to 93.1, the first gain since the week ended July 31, the EIA reported. Crude inventories at Cushing, Oklahoma, declined by 1.9 million barrels to 54.5 million. |
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Heero78
Veteran |
17-Sep-2015 08:54
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could be. No one want to hold any position for this weekend.
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WanSiTong
Supreme |
17-Sep-2015 08:31
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Stocks To Watch Sembcorp, Frasers Centrepoint, Olam, Elec & Eltek, Sunpower September 17, 2015: 8:24 AM Here are some stocks that could move the market this Tuesday morning. Sembcorp Industries (Valuation: 2.40, Fundamental: 1.10). ' Wholly-owned unit, Sembcorp Development, has unveiled its seventh Vietnam Singapore Industrial Park (VSIP) development located in the Nghe An province, Vietnam Sembcorp says it will develop the first phase of the project, which comprises 489.4 acres of industrial land and 200.2 acres of commercial and residential land under the Vietnam Singapore Industrial Park Joint Venture Co (VSIP JV). Sembcorp ended at $ 3.38 on Monday. Frasers Property Australia, the Australian division of Frasers Centrepoint Limited. (Valuation: N / A, Fundamental: N / A), says it has secured over A $ 275 million ($ 276 million) worth of new development projects in the past 12 months The new projects consist of industrial and commercial projects and comprise 210,900 sqm. The majority of the transactions were secured in Sydney and Melbourne with the remainder in Adelaide and Brisbane. The group' s total commercial and industrial portfolio is currently valued at A $ 2.4 billion. FCL closed at $ 1.505 on Wednesday. Olam International (Valuation: 1.40, Fundamental: 0.50), one of the world' s largest food commodities traders, expects grain and oilseed prices to weaken further because the El Nino weather phenomenon will be less harmful to harvests than feared " We are bearish," . Olam Chief Executive Officer Sunny Verghese said in an interview in London on Tuesday. " El Nino will not be as severe" as many in the agricultural commodities market expect, he added. Olam ended at $ 2.01. Printed circuit boards maker Elec & Eltek International posted US $ 3.3 million ($ 4.6 million) in losses for the second quarter ended June, compared with US $ 4.3 million in earnings one year ago. Revenue fell 14.6% to US $ 116 million. Elec & Eltek last traded at 71 US cents. Sumpower Group (Valuation: 1.80, Fundamental: 1.00). Has entered into a placement agreement of up to 400 million shares for Stirling Coleman Capital to procure subscribers at an issue price of 14 cents per share on a " best endeavour basis" This will raise gross proceeds of up to $ 56 million. Sunpower last closed at 19.4 cents. Markets US stocks rose strongly for the second straight session on Wednesday ahead of the Federal Reserve' s decision on whether to raise interest rates for the first time in nine years. The Dow Jones Industrial Average rose 140.10 points or 0.84% to 16,739.95. The broad-based S & P 500 rose 17.22 or 0.87% to 1,995.31, while the tech-rich Nasdaq Composite Index gained 28.72 or 0.59% to 4,889.24. Singapore stocks advanced on Wednesday as most other markets in the region climbed back from their lowest levels in years ahead of the US Federal Reserve' s interest-rates decision. The Straits Times Index ended the day 0.94% higher at 2,868.74. Gainers outnumbered decliners 275 to 126. A total of 1.33 billion shares worth about $ 1.1 billion changed hands. |
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