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STI to cross 3000 boosted by long-term investors
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WanSiTong
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12-Mar-2015 07:10
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Dow -0.16% 17,635.39 / -27.55 Nasdaq -0.20% 4,849.94 / -9.86 S& P -0.19% 2,040.24 / -3.92 US: Stocks dip as dollar strengthens again 12 Mar6:52 AM [NEW YORK] US stocks finished lower on Wednesday in choppy trade as the dollar hit a new 12-year high against the euro. The Dow Jones Industrial Average dropped 27.55 points (0.16 per cent) to 17,635.39. The broad-based S& P 500 shed 3.92 (0.19 per cent) at 2,040.24, while the tech-rich Nasdaq Composite Index lost 9.85 (0.20 per cent) at 4,849.94. Equity markets continued to watch the dollar, which rose to a fresh 12-year high against the euro two days after the European Central Bank launched a massive government bond-buying stimulus program. The Federal Reserve, meanwhile, is winding down its extraordinary stimulus. Some analysts have expressed worry at the speed of the dollar' s ascent and the possible drag on US exports. " You have central banks at a crossroads," said Brent Schutte, market strategist at BMO Global Asset Management. U.S. stocks ended lower for a second straight session on Wednesday as worries grew about the timing of a Federal Reserve interest rate hike and dollar strength further dampened the outlook for U.S. earnings. The move followed the S& P 500' s biggest one-day decline in two months in the previous session, which surpassed a selloff of similar magnitude on Friday. The S& P 500 is now off 3.6 percent from its March 2 record closing high and is down 0.9 percent for the year so far. Friday' s stronger-than-expected jobs report, which solidified views the Fed could raise rates as early as June, was largely behind the recent jitters. " It' s all about rates. I think many are holding onto the view that if the Fed raises rates, stocks stop in their tracks and reverse, and the bull market ends," said Bruce Zaro, chief technical strategist at Bolton Global Asset Management in Boston. The dollar extended its gains against the euro, following the start of the European Central Bank' s 1.1 trillion euro bond-buying program. The euro fell 1.5 percent to trade near $1.05 for the first time in 12 years and the single currency EUR= is down 12 percent against the greenback since January. The dollar' s sharp rise has added to worries the currency will continue to weigh on U.S. multinationals' earnings. " The dollar continues to strengthen. That' s a double-edged kind of development in that it will lead to more investor interest in the United States, but on the other hand, it hampers the ability of U.S. multinationals to compete overseas," said John Carey, portfolio manager at Pioneer Investment Management in Boston. S& P 500 earnings are now expected to decline 2.7 percent in the first quarter from a year ago, Thomson Reuters data showed. Shares of Tyson Foods (TSN.N) were down 5.6 percent at $37.55 and Pilgrims Pride Corp (PPC.O) dropped 4.4 percent. The U.S. Department of Agriculture confirmed the discovery of highly pathogenic avian influenza in a commercial turkey flock in Arkansas. After the bell, shares of major banks were active following the Fed' s review of their capital plans. Shares of Bank of America (BAC.N) were down about 1 percent after the Fed approved its capital plans but directed the bank to address process weaknesses. Shares of Citigroup (C.N) jumped 3.1 percent to $53.95 while Morgan Stanley (MS.N) gained 3.1 percent to $36.02. Also after the close, Shake Shack (SHAK.N) fell 6.5 percent to $43.85 following the release of its results. Advancing issues outnumbered declining ones on the NYSE by 1,769 to 1,275 on the Nasdaq, 1,546 issues rose and 1,172 fell. About 6.6 billion shares changed hands on U.S. exchanges, compared with the 6.6 billion average for the month to date, according to data from BATS Global Markets. |
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WanSiTong
Supreme |
11-Mar-2015 18:19
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Singapore stocks end the day 19.7 points lower March 11, 2015 : 6:05 PM SINGAPORE (Mar 11): Singapore stocks lost ground today, broadly in line with the rest of the region.
The benchmark Straits Times Index shed 0.6% or 19.67 points to close lower at 3,378.59. In the broader market, 1.36 billion shares valued at $1.2 billion changed hands. Losers outnumbered gainers 309 to 114. Among the heavyweights that led the decline were Jardine Cycle & Carriage and Golden Agri-Resources which lost 3.8% and 2.4% to end at $41.02 and 40 cents, respectively. Commodity trader Noble Group also lost 1.6% to close at 92 cents, its lowest in more than a year as investors continue to shy away from the company after it reported weaker-than-expected results and was the target by an anonymous analyst blogger claiming accounting irregularities. Developer CapitaLand led the large-cap gainers, up 0.9% to $3.48. Among the smaller cap stocks, Moya Holdings and Darco Water Technologies ended 4.1% and 29.2% higher at 5.1 cent and 3.1 cents, respectively, prompting a query by the Singapore Exchange for their unusual price movements. |
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PauloGan
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11-Mar-2015 17:47
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This is interesting.
The market makers are waiting for something, what can that be? IMO, it's definitely not celebration of SG50
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Demostation
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11-Mar-2015 17:26
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Currently good news in overseas markets will not impact Sgx, only bad news will fall us. We are waiting for something, some game changer, and once it is over, wild swings and good opportunities will avail... |
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WanSiTong
Supreme |
11-Mar-2015 16:42
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Europe: Stocks rebound at open 11 Mar 4:19 PM [LONDON] Europe' s main stock markets rebounded slightly at the start of trading on Wednesday, with London' s benchmark FTSE 100 index of top companies up 0.32 per cent at 6,724.35 points. The CAC 40 in Paris climbed 0.38 per cent to 4,900.37 points and Frankfurt' s DAX 30 increased 0.27 per cent compared with Tuesday' s closing level to open at 11,531.55 points. Stocks had crashed Tuesday, with the FTSE diving 2.52 per cent on increasing expectations that the US Federal Reserve will soon hike interest rates and following the release of more weak Chinese economic data, traders said. |
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WanSiTong
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11-Mar-2015 13:40
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Singapore stocks continue to slide March 11, 2015 : 1:16 PM SINGAPORE (Mar 11): Singapore stocks continue their downward slide following a slump in US equities, after the dollar gained amid speculation the Federal Reserve is moving closer to raising interest rates.
Federal Reserve Bank of Dallas President Richard Fisher said the central bank should begin to raise rates as the labor market improves. Friday' s jobs report showed US employers added 295,000 workers last month, while the jobless rate fell to the lowest in almost seven years, to within the range the Fed considers full employment. At 12:58 p.m., the benchmark Straits Times Index fell 0.45% or 15.28 points to languish at 3,382.98. In the broader market, 766 million shares valued at $570 million were traded. The number of losers widened to 261 compared to 113 gainers. Among the gainers, Tigerair rose 3.3% to 31.5 cents. In February, the budget airline operations in Singapore recorded a 3.2% y-o-y decline in traffic to 718 million revenue passenger-kilometres (RPK), while capacity decreased by 8.5% to 910 million available seat-kilometres (ASK). K Ajith, director of Asia Transport Research for UOB Kay Hian, observes that unless loads improve further in March 2015 or average ticket price improves q-o-q, Tigerair could report an operating loss for 4QFY2015 ending March 31. Darco Water Technologies rose 20.8% to 2.9 cents. Darco Water Tech recently posted a net profit of $373,000 for the full year ended December 31, 2014, recovering from a net loss of $8.8 million in FY2013. The result was bolstered by an increase in gross profit margin from 17.9% in FY2013 to 26.9% in FY2014, thanks to an improvement of profitability in Darco Penang and better costs control in terms of projects. Meanwhile, Thai Beverage lost 1.3% to 73.5 cents. In a report out on Mar 5, analyst Nirgunan Tiruchelvam of Religare Institutional Research initiated coverage on the stock with a " sell" recommendation and a target price of 55 cents, implying 24% downside. Tiruchelvam said Thai Bev&rsquo s ROE could contract during 2015-17 as net margins weaken and asset turnover declines. F& N is also likely to lose its stake in Myanmar Brewery. |
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WanSiTong
Supreme |
11-Mar-2015 08:22
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Singapore shares may open lower as US falls overnight on Fed concerns March 11, 2015 : 8:02 AM SINGAPORE (March 11): Singapore shares may open lower as US stocks fell the most in two months as the dollar strengthened to near a 12-year high versus the euro amid speculation the Federal Reserve is moving closer to raising interest rates.
The Dow Jones Industrial Average lost 332.78 points, or 1.9%, to 17,662.94 while the S& P 500 retreated 1.7% to 2,044.16 at the close in New York. Both indexes erased gains for the year. In Singapore, the Straits Times Index shed 0.2% or 6.31 points to close at 3,398.26. COMPANIES IN THE NEWS: WE Holdings , the distributor of electronic components, today announced it has agreed to acquire a 100% stake in local sand supplier Hua Kai for a consideration of $25 million. WE Holdings last traded at 0.7 cents. Nam Cheong , Malaysia&rsquo s largest OSV builder, today announced that it has sold two vessels worth US$58 million ($81 million) to two repeat customers. Nam Cheong closed at 30 cents yesterday. NH Ceramics , the building materials supplier, says it has completed the acquisition of BlackGold Asia Resources and BlackGold Energy via a reverse takeover deal. NH Ceramics will now be known as BlackGold Natural Resources. The stock last traded at 7 cents. Prudential Plc the largest UK insurer by market value, halted trading in Hong Kong and Singapore before an announcement that Chief Executive Officer Tidjane Thiam is leaving for the same job at Credit Suisse Group AG. The stock traded at US$21.65 before the halt. Keppel Corporation says unit KV Enterprises B.V. has sold all its 66.71% stake in indirect subsidiary, DPS Bristol, to DPSH One for GBP1.08 million ($2.3 million) cash. DPS is no longer subsidiary of the company. Keppel closed 0.2% lower at $8.73 yesterday. Singapore Exchange announced that it is planning to add new Asian currency futures contracts on the Taiwanese dollar (TWD/USD) and Renminbi crosses (SGD/CNH, CNY/SGD, EUR/CNH). Meanwhile, the bourse is also said to be in preliminary talks to be part of a regional rubber exchange that would bring together the top three producing nations. Shares in SGX closed 0.26% lower at $7.80 yesterday. |
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WanSiTong
Supreme |
11-Mar-2015 07:23
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United States markets fell sharply on Tuesday, as fears of possible interest rate increases by the Federal Reserve rocked financial markets worldwide. In Europe, renewed concerns that Greece may run out of money also worried investors. The euro sank to a 12-year low against the dollar. KEEPING SCORE At the close on Tuesday, the Dow Jones industrial average was down 1.9 percent and the Standard & Poor' s 500-stock index was down 1.7 percent. The Nasdaq composite index dropped 1.7 percent. FED WORRIES Traders think it' s more likely that the Federal Reserve will raise interest rates in June given the strong United States jobs report on Friday. Ultralow interest rates and other monetary stimulus have been a boon for stock markets for several years as investors sought higher returns. But a return to more normal levels for interest rates in the world' s biggest economy might spell an end to the bull market for stocks. ANALYST' S TAKE " Regardless of whether the Fed hikes in June or September, it' s coming and it' s not very far away," said Craig Erlam, a senior market analyst at OANDA. " That makes the dollar very strong compared to its peers." EURO DROP The euro dropped 1.1 percent against the dollar to a 12-year low of $1.0724. The dollar slipped 0.2 percent against the Japanese currency to 121.19 yen. GREEK FEARS BACK The euro was further hampered by fears over the financial future of Greece. A meeting of eurozone finance ministers in Brussels on Monday failed to yield much of a breakthrough on the country' s reform plans, which have to be agreed to by creditors for Greece to get vital bailout cash. " The Greek government is pushing the envelope with its creditors and the market is scared by the prospect of another long drawn-out debt negotiation," said David Madden, a market analyst at IG. EUROPEAN MARKETS Franc' s CAC 40 lost 1.1 percent, while Germany' s DAX fell 0.7 percent. Britain' s FTSE 100 dropped 2.5 percent. BOOK TROUBLE Barnes & Noble dropped 6 percent after reporting fiscal third-quarter profit that fell short of Wall Street expectations. Revenue also fell because of weakness in its retail and Nook segments. CREDIT SUISSE' S NEW BOSS Shares in Credit Suisse surged after the Swiss bank sought to turn the page on a period of scandals and fines by replacing its chief executive, Brady W. Dougan, with the head of the British insurer Prudential, Tidjane Thiam. Credit Suisse shares were up 6.5 percent. ASIA' S DAY The Nikkei 225 ended the day down 0.7 percent in Japan, while in Hong Kong, the Hang Seng shed 0.9 percent. The Shanghai Composite Index added 0.3 percent in China. The Kospi lost 0.4 percent in South Korea. In Australia, the S.& P./ASX 200 gained 0.1 percent. Southeast Asian markets were mixed and India&rsquo s benchmark dropped. ENERGY Benchmark United States crude fell $1.32 to $48.68 a barrel in New York. Brent crude, a benchmark for international oils, dropped $1.70 to $56.83 a barrel in London. BONDS Bond prices rose. The yield on the 10-year Treasury note fell to 2.13 percent. |
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WanSiTong
Supreme |
11-Mar-2015 06:40
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Dow -1.85% 17,662.94 / -332.78 Nasdaq -1.67% 4,859.80 / -82.64 S& P -1.70% 2,044.16 / -35.27 Wall St. Drops Sharply, Echoing Overseas Market Concerns United States markets fell sharply on Tuesday, as fears of possible interest rate increases by the Federal Reserve rocked financial markets worldwide. In Europe, renewed concerns that Greece may run out of money also worried investors. The euro sank to a 12-year low against the dollar. KEEPING SCORE At the close on Tuesday, the Dow Jones industrial average was down 1.9 percent and the Standard & Poor&rsquo s 500-stock index was down 1.7 percent. The Nasdaq composite index dropped 1.7 percent. FED WORRIES Traders think it&rsquo s more likely that the Federal Reserve will raise interest rates in June given the strong United States jobs report on Friday. Ultralow interest rates and other monetary stimulus have been a boon for stock markets for several years as investors sought higher returns. But a return to more normal levels for interest rates in the world&rsquo s biggest economy might spell an end to the bull market for stocks. ANALYST&rsquo S TAKE &ldquo Regardless of whether the Fed hikes in June or September, it&rsquo s coming and it&rsquo s not very far away,&rdquo said Craig Erlam, a senior market analyst at OANDA. &ldquo That makes the dollar very strong compared to its peers.&rdquo EURO DROP The euro dropped 1.1 percent against the dollar to a 12-year low of $1.0724. The dollar slipped 0.2 percent against the Japanese currency to 121.19 yen. GREEK FEARS BACK The euro was further hampered by fears over the financial future of Greece. A meeting of eurozone finance ministers in Brussels on Monday failed to yield much of a breakthrough on the country&rsquo s reform plans, which have to be agreed to by creditors for Greece to get vital bailout cash. &ldquo The Greek government is pushing the envelope with its creditors and the market is scared by the prospect of another long drawn-out debt negotiation,&rdquo said David Madden, a market analyst at IG. EUROPEAN MARKETS France&rsquo s CAC 40 lost 1.1 percent, while Germany&rsquo s DAX fell 0.7 percent. Britain&rsquo s FTSE 100 dropped 2.5 percent. BOOK TROUBLE Barnes & Noble dropped 6 percent after reporting fiscal third-quarter profit that fell short of Wall Street expectations. Revenue also fell because of weakness in its retail and Nook segments. CREDIT SUISSE&rsquo S NEW BOSS Shares in Credit Suisse surged after the Swiss bank sought to turn the page on a period of scandals and fines by replacing its chief executive, Brady W. Dougan, with the head of the British insurer Prudential, Tidjane Thiam. Credit Suisse shares were up 6.5 percent. ASIA&rsquo S DAY The Nikkei 225 ended the day down 0.7 percent in Japan, while in Hong Kong, the Hang Seng shed 0.9 percent. The Shanghai Composite Index added 0.3 percent in China. The Kospi lost 0.4 percent in South Korea. In Australia, the S.& P./ASX 200 gained 0.1 percent. Southeast Asian markets were mixed and India&rsquo s benchmark dropped. ENERGY Benchmark United States crude fell $1.32 to $48.68 a barrel in New York. Brent crude, a benchmark for international oils, dropped $1.70 to $56.83 a barrel in London. BONDS Bond prices rose. The yield on the 10-year Treasury note fell to 2.13 percent. |
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WanSiTong
Supreme |
10-Mar-2015 18:11
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Singapore shares fail to retain gains as US rate hike concerns weigh March 10, 2015 : 5:44 PM SINGAPORE (March 10): Singapore shares surrendered intraday gains and ended mostly lower as speculation that the Federal Reserve would start raising interest rates from the middle of the year kept risk appetite in check and drove up the US dollar against major currencies.
Decliners outnumbered gainers 250 to 174. Some 1.17 billion shares worth $1.18 billion changed hands, compared with 1.18 billion shares worth $1.21 billion on Monday. The Straits Times Index shed 0.2% to 3,398.26, off an intraday high of 3,416. While market conditions will remain volatile, driven by currency movements, the local stock market should be " resilient" for the next one to two months as the Fed is not likely to raise rates until 2H2015, according to DBS Vickers. " For now, the stronger US dollar is positive for companies with US dollar-based revenue, such as ST Engineering ,Venture Corp and Bumitama Agri" DBS Vickers analysts, led by Janice Chua, wrote in a note. " On the flip side, companies with US dollar-denominated loans may be affected, although in most cases, these are hedged by US dollar revenue," they said. " Singapore companies have limited exposure to US dollar-denominated loans." Noble Group was again the weakest performer among blue chips, down 6.5% at 93.5 cents, in a sign that investors were still worried about Iceberg Research' s allegations that the commodities trader had employed questionable accounting practices. Genting Singapore fell 2.6% to 93.5 cents, extending its recent losses, on lingering concerns that business will continue to slow down amid dwindling patronage from Chinese gamblers. Among lower liners, Triyards Holdings rose 2.6% to 40 cents after the company clinched vessel-building contracts worth more than US$100 million ($138 million). Sino Grandness Food Industry Group advanced 5.7% to 28 cents after the Shenzhen-based company said its proposed listing of its Garden Fresh unit was moving ahead after an initial delay. Tiger Airways rose 3.4% to 30.5 cents. The budget carrier said after trading hours that its passenger load factor for February rose to 78.9% from 74.6% a year earlier. |
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WanSiTong
Supreme |
10-Mar-2015 12:54
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Singapore stocks pare gains Straits Times Index ' fairly priced' : Citi March 10, 2015 : 12:33 PM SINGAPORE (March 10): Singapore shares struggled to cling on to gains as speculation that the US central bank would start raising interest rates from the middle of the year kept risk appetite in check.
At 12:22pm (0422 GMT), the Straits Times Index was up 0.1% at 3,409.49, off its morning high of 3,416. Market breadth was barely positive. " Year to date, the STI has underperformed most of its Asean peers (in US dollar terms) other than Malaysia. The STI remains fairly priced, currently trading at 15 times forward PE," said Citigroup. Noble Group was again sold down, falling 5.5% to 94.5 cents, with more than 38 million shares traded, in a sign that investors were still worried about Iceberg Research' s allegations that the company had employed questionable accounting practices. Among lower liners, Ellipsiz rose 7.4% to 11.6 cents, extending its 12.5% gain yesterday. The company told the Singapore Exchange it was not aware of any reason for the sudden interest, but noted a UOB Kay Hian research report that put on a " buy" call on its shares. Sino Grandness Food Industry Group climbed 3.8% to 27.5 cents after the Shenzhen-based company said its proposed listing of its Garden Fresh unit was moving ahead after an initial delay. |
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WanSiTong
Supreme |
10-Mar-2015 08:25
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Singapore stocks seen opening higher on Wall Street rebound March 10, 2015 : 8:08 AM SINGAPORE (March 10): Singapore shares may open higher following a rebound overnight on Wall Street, where stocks were sold down last Friday on concerns that the US central bank might raise interest rates sooner rather than later.
The Dow Jones Industrial Average rose 0.8% to 17,995.72, the S& P 500 gained 0.4% to 2,079.43 and the Nasdaq Composite put on 0.3% to 4,942.44. In Singapore, the Straits Times Index ended 0.4% lower at 3,404.57 yesterday. COMPANIES IN THE NEWS: Sino Grandness Food Industry Group said the proposed spin-off of its wholly owned Garden Fresh (HK) Fruit & Vegetable Beverage is progressing as planned and that it may revise capital investment plans for its new plant in order to strengthen cash flows. The IPO is expected by June, failing which Sino Grandness has to pay a hefty premium when it redeems convertible bonds issued by the Hong Kong unit. Sino Grandness shares rose 1.9% to 26.5 cents yesterday. Triyards Holdings has secured US$100 million ($138 million) worth of new shipbuilding contracts. Triyards shares ended flat at 39 cents yesterday. Yangzijiang Shipbuilding has confirmed a report that it was approached to consider taking a stake in cash-strapped shipbuilder Jiangsu Rongsheng Heavy Industries. Separately, Yangzijiang said Ren Letian, son of founder and executive chairman Ren Yuanlin, will be appointed CEO from May 1. Yangzijiang shares fell 1.2% to $1.215 yesterday. Europtronic Group is selling eight loss-making subsidiaries to its major shareholders in a bid to improve its financial health. Europtronic shares were not traded yesterday. They last closed at two cents. IPS Securex Holdings has inked a five-year agreement to distribute acoustic hailing devices in 15 countries for UnderSea Sensor Systems, which makes sensor systems for military, homeland security and commercial applications. IPS Securex shares rose 1% to 50 cents yesterday. GSH Corp will launch more than 100 office units at GSH Plaza for sale this month. The 28-storey property has 259 strata office units, two floors of retail space and 13 food & beverage outlets. GSH shares fell 1.3% to 7.5 cents yesterday. Yongnam Holdings has clinched a $159-million contract through its joint venture with Jian Huang Construction to build a seven-storey logistics facility for JTC Corp. Yongnam shares fell 0.7% to 14.8 cents yesterday. |
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WanSiTong
Supreme |
10-Mar-2015 08:05
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Updated: 5:16pm ET
Dow +0.78% 17,995.72 / +138.94 Nasdaq +0.31% 4,942.44 / +15.07 S& P +0.39% 2,079.43 / +8.17 US: Stocks lifted by Apple, GM [NEW YORK] Wall Street stocks notched solid gains Monday following the launch of Apple' s smartwatch and a General Motors announcement of US$5 billion in share buybacks. The Dow Jones Industrial Average rose 138.94 points (0.78 per cent) to 17,995.72. The broad-based S& P 500 gained 8.17 (0.39 per cent) at 2,079.43, while the tech-rich Nasdaq Composite Index advanced 15.07 (0.31 per cent) to 4,942.44. The indices' gains helped offset sharp losses Friday after a strong US jobs report lifted speculation the Federal Reserve will more quickly raise benchmark interest rates from zero, where they have been pegged since December 2008. Bond prices rose. The yield on the 10-year US Treasury fell to 2.19 per cent from 2.23 per cent Friday, while the 30-year dropped to 2.20 per cent from 2.83 per cent. Bond yields and prices move inversely. |
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WanSiTong
Supreme |
09-Mar-2015 18:34
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Concerns that Fed may soon raise rates pressure shares March 9, 2015 : 5:57 PM SINGAPORE (March 9): Singapore shares ended mostly lower as investors reacted to a better-than-expected US jobs report by selling risk assets, mindful that the data could prompt the Federal Reserve to raise interest rates sooner rather than later.
US employers added 295,000 jobs last month, more than economists had expected. The unemployment rate fell to 5.5%, the lowest in more than six years. " We now believe that the labour market report, on balance, is likely to induce a majority within the FOMC to support a removal of the forward guidance (the " patient" phraseology) at the upcoming March 17-18 meeting, thereby transitioning to a data dependent and meeting-by-meeting mode for considering the first rate hike," Thomas Lam, an economist at RHB Securities Singapore, wrote in a note. " This should open the door for the FOMC to commence raising rates - assuming financial markets do not turn overly anxious - either at the June, July or September 2015 meeting," he said. The Straits Times Index fell 0.4% to 3,404.57. Some 1.18 billion shares worth $1.21 billion changed hands, compared with 1.04 billion shares worth $1.13 billion last Friday. Decliners outnumbered gainers 287 to 144. Noble Group was the most active stock in the market, down 5.2% at $1, with 75 million shares changing hands, in a sign that allegations of improper accounting raised by Iceberg Research were still weighing on sentiment. Other large-cap decliners included Singapore Exchange, which fell 2.4% to $7.82 CapitaLand which declined 2.3% to $3.46 and Singtel, which gave up 1.7% to $4.11. Genting Singapore rose 3.8% to 96 cents, rebounding from an intraday trough of 91 cents, the lowest since May 2010. The gaming group has been actively buying back its own shares on the open market in recent months. Dairy Farm International climbed 2.4% to US$9.53. The company said last week its 2014 core earnings rose 4% despite tough conditions in most of its markets. " We believe margin pressures have subsided in 2015, and the changes arising from its substantial reorganisation in 2014 should have stabilised to allow it to focus on profit growth going forward," RHB Securities Singapore analyst James Koh said in a note. |
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WanSiTong
Supreme |
09-Mar-2015 13:37
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Singapore shares mostly lower several penny stocks in play March 9, 2015 : 12:52 PM SINGAPORE (March 9): Risk appetite remained low as investors reacted to a better-than-expected US jobs report by selling stocks, mindful that the data could prompt the Federal Reserve to raise interest rates sooner rather than later.
Some analysts pointed out, however, that the February nonfarm payrolls report alone may not accurately depict the health of the world' s biggest economy, even though the US unemployment rate has fallen to 5.5%, its lowest in more than six years. " Yes, that was a good headline number, but recall the labour market is always a lagging, not a leading, indicator," Michael Every, head of Asia financial markets research at Rabobank, said in a note, adding that the US labour force participation rate fell yet again and wage growth remained weak in February. At 12:39pm (0439 GMT), the Straits Times Index was down 0.6% at 3,398.17. Market breadth was negative, with almost three decliners for every gainer. Noble Group was the most active stock in the market, down 5.2% at $1, with more than 47 million shares traded. The stock has been hammered in recent sessions by Iceberg Research' s allegations of improper accounting practices. Several penny stocks fared notably better. Polaris rose 7.1% to 1.5 cents after the company said its associate, PT Trikomsel Oke Tbk, has formed a joint venture with Singapore Post to provide e-commerce and logistics services in Indonesia. KLW Holdings climbed 7.1% to 1.5 cents on strong volume. The company is expanding its reach in Australia, where it is in the process of buying an office building in Melbourne, marking its second purchase in the city. United Fiber System rose 14.3% to 1.6 cents on follow-through buying, as investors warmed up to its reverse takeover of an Indonesian coal miner. The deal was approved by shareholders last week. |
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WanSiTong
Supreme |
09-Mar-2015 08:37
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Singapore stocks seen weaker on US rate hike concerns March 9, 2015 : 7:24 AM SINGAPORE (March 9): Singapore shares may pull back, tracking losses on Wall Street last Friday, on concerns that the Federal Reserve might raise interest rates sooner rather than later following a robust US February jobs report. ( WST says : Emm... in the long run, this is a piece of good news!)
US employers added 295,000 jobs last month, more than economists had expected. The US jobless rate fell to a six-year low of 5.5%, within the range the Fed considers as full employment. The Dow Jones Industrial Average fell 1.5% to 17,856.78, the S& P 500 gave up 1.4% to 2,071.26 and the Nasdaq Composite declined 1.1% to 4,927.37. In Singapore, the Straits Times Index rose 0.7% to 3,417.51 last Friday. COMPANIES IN THE NEWS: KS Energy has clinched a drilling contract worth US$7.2 million. KS Energy shares rose 2.7% to 37.5 cents last Friday. China Fishery Group has received in-principle approval from the Singapore Exchange for a proposed $296.5-million rights issue. China Fishery shares fell 0.6% to 17.3 cents last Friday. Cedar Strategic Holdings said it expects to incur a 2014 net loss due to the disposal of a business unit. Cedar Strategic shares ended flat at 0.1 cent last Friday. Sinostar PEC said Zhang Liu Cheng will be its new CEO with immediate effect. Sinostar shares fell 2.9% to 6.8 cents last Friday. Hafary Holdings ' chairman and CEO Low Kok Ann has been re-designated as managing director. Hafary shares ended 2.4% higher at 21.5 cents last Friday. Luzhou Bio-Chem Technology ' s chairman Niu Ji Xing will replace Wang De You as CEO with immediate effect. Luzhou Bio-Chem shares fell 31% to two cents last Friday. Blumont Group has called off plans to buy a stake in Celsius Coal. Blumont shares ended flat at 1.2 cents last Friday. KLW Holdings will acquire a five-storey office building in Melbourne for A$12.5 million ($13.3 million). KLW shares ended flat at 1.4 cents last Friday. |
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WanSiTong
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07-Mar-2015 06:58
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Updated: 5:16pm ET
Dow -1.54% 17,856.78 / -278.94 Nasdaq -1.11% 4,927.37 / -55.44 S& P -1.42% 2,071.26 / -29.78 Wall St ends lower as jobs data may bring rate hike sooner March 7, 2015 : 6:37 AM MYT NEW YORK (Mar 7): U.S. stocks closed lower on Friday and the S& P 500 declined for a second straight week after a strong monthly jobs report as investors bet that the Federal Reserve could raise interest rates sooner than previously expected.
Some of the worst-hit stocks were utilities and real estate investment trusts as they are high-yielding investments which would look less attractive after a rate hike. The S& P and the Dow, which accelerated their declines as the day wore on, were under additional pressure because they had hit records earlier in the week after a strong February. U.S. nonfarm payrolls rose 295,000 last month, topping estimates for a gain of 240,000, after a downwardly revised 239,000 increase in January. The unemployment rate fell to 5.5 percent from 5.7 percent in January. The strong report, seen as a gauge for the timing of the Fed' s first rate hike in years, may put pressure on the Fed to move soon, said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin, Texas. " You have to think that report makes the likelihood of a June rate increase somewhat higher," said Frederick. The S& P extended its losses as the session wore on having found little support after it fell below its two-week intraday low, according to Frank Cappelleri, technical market analyst at Instinet, a Nomura company, in New York. The Dow Jones industrial average fell 278.94 points, or 1.54 percent, to 17,856.78, the S& P 500 lost 29.78 points, or 1.42 percent, to 2,071.26 and the Nasdaq Composite dropped 55.44 points, or 1.11 percent, to 4,927.37. For the week, the S& P 500 fell 1.6 percent while the Dow slid 1.5 percent and the Nasdaq dropped 0.7 percent. The S& P and the Dow both ended the day more than 2 percent lower than their March 2 records. The S& P saw its biggest percentage decline since early January on Friday. In a shakeup of the Dow Jones industrial average, Apple Inc , the largest U.S. company by market value, will join the index this month, replacing AT& T Inc. Apple shares rose 0.15 percent at $126.60 after rising as high as $129.37 while AT& T fell 1.5 percent to $33.48. " If anything, what that should do is cause the Dow to be more volatile," said Schwab' s Frederick, because the Dow is a price-weighted index and Apple has a higher share price than AT& T. The utilities sector was the worst performing S& P 500 sector with a 3.1 percent decline and the Dow Jones Equity Reit Index finished off 3.2 percent. About 7.2 billion shares changed hands on U.S. exchanges, compared with the 6.4 billion average for the last five sessions, according to data from BATS Global Markets. Declining issues outnumbered advancing ones on the NYSE by 2,683 to 438, for a 6.13-to-1 ratio on the downside on the Nasdaq, 1,926 issues fell and 840 advanced for a 2.29-to-1 ratio favoring decliners. The benchmark S& P 500 index posted 13 new 52-week highs and four new lows the Nasdaq Composite recorded 67 new highs and 47 new lows. |
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WanSiTong
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06-Mar-2015 18:14
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Jardine stocks, Singtel lift STI while market waits for US jobs report March 6, 2015 : 5:51 PM SINGAPORE (March 6): Firm gains in the Jardine group of stocks and Singtel drove up the Straits Times Index, but market breadth was neutral as investors tempered expectations ahead of the February US nonfarm payrolls report due later in the session.
" Our analysis suggests that last month' s readings on hiring and joblessness will once again support the upgraded assessment of labour-market conditions expressed by FOMC voters following their January meeting," said Societe Generale, which expects the US unemployment rate to slip to 5.5%. The STI rose 0.7% to 3,417.51. Index heavyweight Singtel put on 1.7% to $4.18. Jardine Matheson Holdings rose 1.8% to US$65.70, Jardine Strategic Holdings edged up 0.7% to US$35.35 and Hongkong Land climbed 1.7% to US$7.73. All three companies reported higher 2014 earnings after trading hours on Thursday. Noble Group gained 5% to close at $1.055 after its CEO became the latest senior executive in the company to buy Noble shares on the open market. The move gave some comfort to investors after the stock took a beating in recent days following allegations by Iceberg Research that the company had improper accounting practices. In the broader market, decliners slightly outnumbered gainers 219 to 202. Some 1.04 billion shares worth $1.13 billion changed hands, compared with 1.24 billion shares worth $934 million on Thursday. Sinarmas Land rose 6.4% to 83.5 cents in active trade following reports that the Indonesia-focused property group had restarted talks to launch a US$300-million ($410-million) IPO of an industrial property arm. |
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teeth53
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06-Mar-2015 14:10
Yells: "don't learn through life, learn to grow with life " |
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S'pore remains a haven for ultra-rich
RENNIE WHANG THE ranks of Singapore's ultra-wealthy are set to grow by more than 1,700 by 2024 - the strongest growth among 108 cities in a new global survey. In the survey, an ultra-wealthy person is defined as having a net worth of US$30 million (S$41 million), not counting their main home. The Wealth Report 2015 by Knight Frank predicts a 54.3% jump in the number of these ultra cashed-up types from 3,227 last year to 4,979 in 2024. The report uses the term "ultra high net worth individual". Singapore is ranked 3rd among cities where the ultra-wealthy live, behind Tokyo with 3,575 and London with 4,364. The next biggest projected jump by 2024 after Singapore was Hong Kong with 1,251 more such individuals. The Republic's population of "centa-millionaires" - those with net worth of US$100 million or more - is set to rise 53% in the next 10 years to 1,177 in 2024. The population of United States dollar billionaires here - currently 24, the ninth most among the cities surveyed - is also set to rise 50% to 36 billionaires in 2024. Comparing last year with 2013, S'pore saw a 2% rise in both the ultra-wealth and centa-millionaires, and 4% more billionaires, the report said. "Singapore's strengthening position as a regional financial and transportation hub, coupled with stable and pro-business Government, have attracted multinational corporations (MNCs) to relocate their operations here." "These strong attributes have also attracted many (ultra-wealthy) to relocate and invest in Singapore, especially in the real estate sector." Across countries, Singapore has seen the second highest inflow of the wealthy - someone with net worth of at least US$1 million - over the past 10 years. About 45,000 wealthy people were added here from 2003 to 2013, or a 20 per cent increase to 225,000 in 2013. Many of the wealthy here are from China, India and Indonesia, while restrictions on confidentiality rules in Switzerland have caused some wealthy people previously there for tax purposes to relocate here, or to Britain or the United Arab Emirates, the report said. Ms Tan noted that demand for commercial and especially office space has been on the rise, as more MNCs relocate here. "Of late, both family and institutional funds have shown greater interest to invest in commercial property as rental yields are higher compared to residential property and the outlook for rental growth is broadly positive for this year." The report found that investments by Singapore's ultra-wealthy into commercial property has increased over the past five years, with 80 per cent of their portfolios typically dedicated to investing in properties here. The preferred location for outbound investments by Singapore's ultra-wealthy is Britain and in the residential sector. |
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WanSiTong
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06-Mar-2015 12:58
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Singapore shares higher in light trading as market awaits US jobs report March 6, 2015 : 12:31 PM SINGAPORE (March 6): Stocks in Singapore held on to slim gains, with investors reluctant to take big bets as they waited for a key US jobs report due tonight.
At 12:27pm (0427 GMT), the Straits Times Index was up 0.5% at 3,413.62. Market breadth was slightly positive while volume was light. Among stocks that attracted greater-than-usual interest, Sinarmas Land rose 4.5% to 82 cents. The Indonesia-focused property group has reportedly restarted talks to launch a US$300-million ($410-million) IPO of an industrial property arm. Noble Group put on 4% to $1.045. Its CEO became the latest senior executive in the company to buy Noble shares on the open market, after the stock took a beating in recent days following allegations by Iceberg Research of accounting irregularities. Asia Fashion fell 3.8% to five cents after the company said it would raise $2.66 million by selling convertible bonds to Alternus Capital Holdings, an investment firm owned by Joe Lam Cho Ying, a former banker. Mandarin Oriental International declined 1.1% to US$1.75. The hotel group announced a US$316-million rights issue to pare debt and fund renovation work for a hotel in London. |
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