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https://www.cnbc.com/2019/02/21/us-china-outline-of-deal-to-end-trade-war-reuters.html
Published 2 Hours Ago Updated 1 Hour Ago
US and China are said to be outlining deal to end trade war
- Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade.
- It includes a 10-item list of commodities and goods that China will buy.
Great Eastern Q4 profit falls 68% to S$137m on market volatility
https://www.businesstimes.com.sg/companies-markets/dbs-housing-loans-business-takes-harder-hit-from-cooling-measures
DBS Bank' s housing loans business was hit by cooling measures as mortgage growth came in shy of S$2 billion for 2018, even less than what the bank had expected after two rounds of shaving its forecasts earlier on.
Now, the bank expects about S$1.5 billion to S$2 billion in mortgage growth for 2019.
At a results briefing on Monday, DBS chief executive officer Piyush Gupta acknowledged the impact of the cooling measures introduced last July on the bank' s housing loans segment in 2018
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If they can get their estimates of the local home markets so so wrong, how acurrate are they with the overseas markets? Especially the Greater China area where its more " complicated" .
DBS Bank' s housing loans business was hit by cooling measures as mortgage growth came in shy of S$2 billion for 2018, even less than what the bank had expected after two rounds of shaving its forecasts earlier on.
Now, the bank expects about S$1.5 billion to S$2 billion in mortgage growth for 2019.
At a results briefing on Monday, DBS chief executive officer Piyush Gupta acknowledged the impact of the cooling measures introduced last July on the bank' s housing loans segment in 2018
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If they can get their estimates of the local home markets so so wrong, how acurrate are they with the overseas markets? Especially the Greater China area where its more " complicated" .
DBS CEO make lots of $ from his last buying of DBS shares. So is he or the CFO (people who knows the Company best) buying in significant amount yet?
An " approximate" repost from a my pm.......
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US China Trade Talk if positive, my target is 10+, 22+, 23+ (previous lows) Banks Q4 results. If US China Trade talk not good, this and the coming potentially negative Q4 result, my target is 9+, 21+, 22+ (my initial target back in Aug 2018). If there is escalation of the US China spat, my target will be revised down for my 2nd batch of long on the banks.
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US China Trade Talk if positive, my target is 10+, 22+, 23+ (previous lows) Banks Q4 results. If US China Trade talk not good, this and the coming potentially negative Q4 result, my target is 9+, 21+, 22+ (my initial target back in Aug 2018). If there is escalation of the US China spat, my target will be revised down for my 2nd batch of long on the banks.
https://www.cnbc.com/2019/02/01/economy-china-reports-caixin-markit-manufacturing-pmi-for-january.html
Another Chinese manufacturing number comes in lower than expected
- The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) came in at 48.3 in January, compared to 49.7 in December. Analysts polled by Reuters had expected the Caixin PMI to be 49.5 last month.
- The announcement of the private PMI survey follows Thursday' s release of China' s official manufacturing PMI.
- The official data from the National Bureau of Statistics came in at 49.5 &mdash higher than 49.3 expected by analysts in a Reuters poll and the 49.4 reported in the previous month.
My view is OCBC at 14 is hot air. DBS at 29.5 may seem more attainable. Still, my take is outlook for local bks is gonna be more challenging this yr. Loan growth seems to have almost grounded to a halt. Fresh home loan uptakes especially appears to have been more -vely impacted by govt intervention than previously thought (if I recall correctly that' s what DBS had indicated). N with america seemingly easing on rate hikes, tweaking NIM further upwards for sg bks is likely to be more challenging. So, profit growth for bks is likely to be capped for now although my personal view is profit contraction for FY19 is not likely to happen if GDP readings for the local economy for the next few qtrs remain stable as previously guided by the authorities.
CheeryVGoh ( Date: 31-Jan-2019 12:18) Posted:
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another pathetic day for 2 major banks...vomitted and close red...
seems our banks gone case or its a pure manipulation by BB ?
seems our banks gone case or its a pure manipulation by BB ?
https://www.bloomberg.com/news/articles/2019-01-31/hundreds-more-chinese-companies-just-warned-on-profits-overnight?srnd=premium-asia
Hundreds More Chinese Companies Just Warned on Profits
Bloomberg News
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This is just the beginning as economy slows, fund manager says
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More warnings are expected later Thursday before deadline
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Bank On The Banks
Bank On The Banks
Among the large caps, UOBKH favours the banks as one of its top picks. UOBKH cites the continued loan growth and stable net interest margin (NIM) as the key reasons. Between DBS and OCBC, UOBKH has a preference of OCBC over DBS for its potential to catch up in NIM expansion and dividend payout. From a valuation perspective, OCBC is also trading at a more attractive level, i.e. more than -1 standard deviation (SD) away from its long term price-to-book value mean. UOBKH also notes that both stocks offer relatively attractive dividend yield of at least four percent.
OCBC: BUY, TP $14.05 Current share price $11.40
DBS: BUY, TP $29.50 Current share price $24.05
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https://www.businesstimes.com.sg/banking-finance/singapore-bank-lending-flat-in-december-mas-preliminary-data
Singapore bank lending flat in December: MAS preliminary data
BANK lending in Singapore was flat in December from a month ago on broad weakness across both business and consumer loans, preliminary data from the Monetary Authority of Singapore showed on Thursday.
Loans through the domestic banking unit &ndash which captures lending in all currencies, but reflects mainly Singapore-dollar lending &ndash stood at S$671.7 billion in December, compared with S$671.9 billion a month ago.
From a year ago, total lending rose 3 per cent.
Singapore bank lending flat in December: MAS preliminary data
BANK lending in Singapore was flat in December from a month ago on broad weakness across both business and consumer loans, preliminary data from the Monetary Authority of Singapore showed on Thursday.
Loans through the domestic banking unit &ndash which captures lending in all currencies, but reflects mainly Singapore-dollar lending &ndash stood at S$671.7 billion in December, compared with S$671.9 billion a month ago.
From a year ago, total lending rose 3 per cent.
Our locl banks' exposure to the oil gas industry wasn' t that big (in numbers) a few years back, but it did quite a bit of damage to their share prices. Now looking at the banks exposure to Greater China, ................ things have the potential to get pretty ugly if there is no US China Trade deal and there is an escalations. IMO DYODD
Yes. waiting for Q4 results. Notice the Analysts are starting to reduce their target prices?
pkli899 ( Date: 30-Jan-2019 13:49) Posted:
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https://www.cnbc.com/2019/01/31/china-economy-manufacturing-january-pmi-.html
Published 1 Hour Ago Updated 36 Mins Ago
China says its manufacturing activity contracted for the second-straight month in January
- China said on Thursday its manufacturing activity contracted for the second-straight month in January.
- Official manufacturing Purchasing Managers' Index (PMI) for January was 49.5, according to the National Bureau of Statistics of China.
- That' s higher than the 49.4 reported in previous month, and the 49.3 expected by analysts in a Reuters poll.
Very disgraceful SGX Circus.
Too many clown acts over the years, resulting in reputation becoming a world-class Joke....................
batambird ( Date: 30-Jan-2019 18:41) Posted:
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Basically our sgx is pathetic...hsi, dj are all going up...but our bank stocks keep down down every day...
Downward pressure on price?
Luzern ( Date: 30-Jan-2019 09:10) Posted:
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https://sbr.com.sg/financial-services/news/singapore-bank-loans-grind-halt-05-in-2019
Total loans and advances fell to 2.8% in November 2018 from October' s 3.4%.
Singapore bank loans are expected to grow by a measly 0.5% by the end of 2019 from a previous estimate of 3% as the slowing housing market and decelerating Chinese economy takes its heavy toll on the commercial banking sector, according to Fitch Solutions.
Also read: Property curbs and trade war are double whammy for Singapore banks
Total loans and advances already slowed to 2.8% in November 2018 from 3.4% the previous month to record its weakest pace since the end of 2016, data from the Monetary Authority of Singapore (MAS) show.
The loan decline is set to extend as Singapore banks&rsquo profitable mortgage businesses take a hit from the government&rsquo s cooling measures that were announced in July 2018, Housing and bridging loans, which account for 30.4% of the banks&rsquo total loan portfolio, slowed to 2.4% in November from 4.2% in June.
&ldquo We expect the downtrend to continue as the outlook for the housing market in 2019 is likely to be weak as home buyers choose to hold back on purchases not only due to tighter restrictions, but also owing to higher borrowing costs and negative economic and property sentiment,&rdquo Fitch Solutions said in a report.
Also read: Singapore mortgage loans to grow 3% in 2019
Business-related lending is also set to cool as China&rsquo s economy decelerates under the pressure of its deleveraging campaign and protracted trade dispute with the US. In fact, loans to business already slowed to 3.3% growth in November 2018 from 8.8% in November 2017.
&ldquo [T]he expansion of Singapore&rsquo s big three banks into Greater China over the past couple of years directly exposes them to headwinds faced by the Chinese economy,&rdquo the research firm said. &ldquo This suggests that the three Singapore banks&rsquo loan growth in China is likely to face a tougher environment in 2019 than during the deceleration in 2015-2016 when the Chinese consumer sector was not under as much pressure and the overall slowdown was not as broad as it is currently.&rdquo
DBS has the highest loan exposure to Greater China amongst the Big 3 at 31% as of September 2018, according to estimates from FItch Solutions. OCBC and UOB have loan exposure of 26% and 15% respectively.
Singapore bank loans grind to a halt at 0.5% in 2019
Total loans and advances fell to 2.8% in November 2018 from October' s 3.4%.
Singapore bank loans are expected to grow by a measly 0.5% by the end of 2019 from a previous estimate of 3% as the slowing housing market and decelerating Chinese economy takes its heavy toll on the commercial banking sector, according to Fitch Solutions.
Also read: Property curbs and trade war are double whammy for Singapore banks
Total loans and advances already slowed to 2.8% in November 2018 from 3.4% the previous month to record its weakest pace since the end of 2016, data from the Monetary Authority of Singapore (MAS) show.
The loan decline is set to extend as Singapore banks&rsquo profitable mortgage businesses take a hit from the government&rsquo s cooling measures that were announced in July 2018, Housing and bridging loans, which account for 30.4% of the banks&rsquo total loan portfolio, slowed to 2.4% in November from 4.2% in June.
&ldquo We expect the downtrend to continue as the outlook for the housing market in 2019 is likely to be weak as home buyers choose to hold back on purchases not only due to tighter restrictions, but also owing to higher borrowing costs and negative economic and property sentiment,&rdquo Fitch Solutions said in a report.
Also read: Singapore mortgage loans to grow 3% in 2019
Business-related lending is also set to cool as China&rsquo s economy decelerates under the pressure of its deleveraging campaign and protracted trade dispute with the US. In fact, loans to business already slowed to 3.3% growth in November 2018 from 8.8% in November 2017.
&ldquo [T]he expansion of Singapore&rsquo s big three banks into Greater China over the past couple of years directly exposes them to headwinds faced by the Chinese economy,&rdquo the research firm said. &ldquo This suggests that the three Singapore banks&rsquo loan growth in China is likely to face a tougher environment in 2019 than during the deceleration in 2015-2016 when the Chinese consumer sector was not under as much pressure and the overall slowdown was not as broad as it is currently.&rdquo
DBS has the highest loan exposure to Greater China amongst the Big 3 at 31% as of September 2018, according to estimates from FItch Solutions. OCBC and UOB have loan exposure of 26% and 15% respectively.
Luzern ( Date: 29-Jan-2019 14:55) Posted:
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Banks Nov 2018 numbers points to slowing loan growth.........
https://www.cnbc.com/2019/01/28/these-stocks-can-be-the-next-blowups-on-china-slowdown-after-caterpillar-and-nvidia.html
Goldman warned Nvidia could blow up because of China and says these companies could be next
- Nvidia was on a list of seven companies Goldman told clients to avoid on Friday.
- Broadcom, Micron Technology, Qualcomm, Qorvo, Skyworks Solutions and Wynn Resorts get more than half their sales from Greater China, according to Goldman Sachs.
- Shares of Nvidia tanked as much as 17 percent on Monday after the company lowered its revenue guidance for the fourth quarter citing " deteriorating macroeconomic conditions, particularly in China."