STI down 1.6% for the week ahead of FOMC meeting

THE impending Christmas holidays combined with ever-weakening oil prices and next week's US Federal Open Markets Committee meeting made for yet another forgettable week for the local stock market in which the Straits Times Index lost 45 points or 1.6 per cent at 2,834.63 - all in poor volume.

On Friday when the index drifted within a narrow band before closing 13.83 points weaker, turnover amounted to 971 million units worth S$825.2 million, the seventh consecutive session with volume below S$1 billion. Business in the STI components amounted to S$473 million, or about 57 per cent of the dollar total. Excluding warrants, there were 125 rises versus 257 falls.

There were only a few features of note, one being confirmation of the takeover of Neptune Orient Lines (NOL) by France's CMA CGM at S$1.30 per share. Probably because there are still many hurdles to be overcome before the deal is complete, NOL' shares spent the whole week around the S$1.22 level, ending at S$1.225 on Friday.

SGX says "Trade with Caution" alerts to be more detailed and targeted

SINGAPORE (Dec 9): Singapore Exchange (SGX) says it will detail its concerns in "Trade with Caution" (TWC) alerts about unusual trading activities in a company's stock.

The alerts will be more targeted as they will be issued on a case-by-case basis instead of being automatically triggered by a company's "not aware" reply to a public query from SGX.

The alerts may also contain details gathered from SGX's review of trading activities.

Currently, TWC alerts are automatically generated.

STI closes 0.69% higher at 2,923.49

Singapore stocks inched up at the close on Tuesday, amid mixed performances in other Asian markets.

The Nikkei 225 and KOSPI Indices rose 0.23% and 0.63% respectively, while the Hang Seng Index slipped 0.35%. Meanwhile, the Shanghai and Shenzhen Composite Indices saw respective gains of 0.16% and 1.39%.

A total of 1.29 billion shares worth about $825.2 million changed hands, giving an average of 64 cents per share for the entire market.

SGX's bond-market foray now includes a dark pool

Singapore Exchange Ltd will open a dark pool for bonds as the 42-year-old bourse prepares to enter the institutional fixed-income trading business for the first time next year.

 

The venue, which allows traders to flag interest in a security without indicating the size or the price of their desired transaction, will form part of SGX's Bond Pro platform scheduled for the first quarter of 2016, Tsai Li Renn, the bourse's head of fixed income, said in an interview on Monday.

Designed to minimise the price impact of buy and sell orders, the dark pool will be the first of its kind set up by an exchange operator, according to SGX.

"We asked participants: 'How would you like to access liquidity in this marketplace?'" Mr Tsai said. "We found that they really wanted a dark pool."

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SGX says health of companies operating in China worrying, tells directors to keep vigilant

SINGAPORE (Nov 17): Singapore Exchange has expressed concern over the financial health of companies with large operations in China and instructed their directors to discharge their duties to safeguard the interests of shareholders.

SGX is closely monitoring companies reporting adverse financial developments and their directors, according to its Regulator's Column published today. The column also provided guidelines for the board to handle specific cases of depletion of cash, assets or retained profits.

STI slips 0.94% to 2,898.27 at midday

SINGAPORE (Nov 16): Singapore equities nudged lower at noon on Monday, amid declines in other Asian bourses following attacks in Paris. Adding to the weak sentiment, Japan's economy also entered into a technical recession in the third quarter.

The Nikkei 225 and KOSPI Indices both slipped around 1%, while the Hang Seng Index slumped about 1.6%.

By 12.08 p.m., the Straits Times Index declined 0.94% to 2,898.27. Market breadth was negative. Excluding warrants, decliners outnumber gainers 255 to 74.

Golden Agri kept at 'hold' by OCBC with 34 cents fair value

SINGAPORE (Nov 16): OCBC is maintaining its "hold" call on Golden Agri with a higher fair value of 34 cents as its near-term outlook remains challenging and the research house suggests investors bargain-hunt at around 30 cents or better.

Golden Agri reported 3Q15 revenue of US$1.57 billion ($2.3 billion), down 15% from a year ago, hit by lower CPO prices.

Singapore shares close lower ahead of expected Wall Street weakness

WEAKNESS in the Dow futures on Tuesday outweighed slight gains in Hong Kong and China, bringing pressure to bear on the Straits Times Index (STI). The selling accelerated in the late afternoon after Europe opened in the red, with the result that the STI finished 30.54 points or one per cent lower at 3,052.53 in low volume of 1.3 billion units worth S$953.5 million.

Of this, S$683 million or 68 per cent came from trading in the 30 index stocks and stripping out the latter, the average value per unit traded was S$0.29. Excluding warrants there were 132 rises versus 285 falls.

The STI had risen for four consecutive days before Tuesday, gaining about 64 points, largely driven by promises of more stimulus from central banks in Europe, China and Japan.

However, with the US Federal Open Markets Committee (FOMC) meeting this week, and even though no rate hike is expected at the meeting, brokers said that markets have switched into cautious mode since the FOMC may offer clues as to when the rate hikes might begin.

Stocks to watch: SGX, Mapletree Commercial Trust, Cache Logistics Trust

THESE companies announced results that may influence trading on Thursday.

Singapore Exchange: SGX raised its base dividend and outlined its strategy to raise liquidity in the sluggish securities market as net profit rose 28 per cent for its fiscal first quarter ended Sept 30.

The market operator is raising its first-quarter cash dividend to five Singapore cents per share from four Singapore cents a year ago, and future quarterly payouts are expected to follow suit.

Net profit increased to S$99.3 million, or 9.3 Singapore cents per share, as operating revenue rose 30.1 per cent to S$219.6 million.

Singapore shares close mixed; penny stocks in focus

The Straits Times Index may have risen 6.67 points to 3,025.7 but Wednesday's trading was more about the rotational punting of penny stocks than the index. This was borne out by the volume statistics - 2.5 billion units worth S$696 million changed hands, which was an average of only S$0.28 per unit traded.

This compares with Tuesday's average of S$0.37, which suggests that in a week that is expected to be quiet, house traders and dealers, reassured by the recovery in blue chips, are turning their energies to the second- and third-line. Excluding warrants there were 218 rises versus 211 falls.

New names topped the actives list. Loyz Energy, which was the volume leader on Tuesday, did not feature in the top 20, and its place was taken by Stratech Group. Other names at the summit included Great Group, China Fishery and China Sky.

STI hazy as China concern clouds region

The local index falls only a slight 0.96 point even as Hong Kong gives up 0.7 per cent and Tokyo slides 1.9 per cent

LOCAL shares caught a lungful of midweek ennui as markets across the region choked on a different kind of recurring transboundary concern: ongoing worries about a slowdown in China.
The benchmark Straits Times Index (STI) had enjoyed a brief respite above the 3,000-point level on Monday.

 

STI chalks up fifth rise in six sessions

TRADING in blue chips has contributed almost three quarters of daily volume over the past fortnight, and so it was again the case on Monday when the Straits Times Index's (STI) recent revival continued with a 33.61-point rise to 3,032.11.

Singapore News Highlights for Monday

• Singapore shares opened 0.29 per cent or 8.82 points lower at 2,989.68 despite Asian stocks edging higher elsewhere in the region, consolidating recent rises on late gains in Wall Street on Friday and a rebound in the commodities complex.
• Asian stocks climbed after biggest weekly rally since Dec 2011.
• SGX is reviewing companies' compliance with CG Code.
• China Sky's non-executive chairman has resigned.
• Tee International's Q1 profit went up 23.6%.
• SIA plane had collapsed at Changi Airport gate after nose gear retracted during landing gear check.
• OKP unit has won S$12.7m JTC contract.
• Oil edged up on lower US rig count, & weaker dollar.
• IMF urgeed Japan to proceed with second sales tax hike.
• Fed should not raise interest rates just yet- as said by China Finance Minister

Singapore shares close week higher in line with Wall Street

WALL Street's return to "bad economic news is good for stocks" has probably been the main driving force behind the Straits Times Index's 205 point, or 7.3 per cent, rise over the week to 2,998.5, of which 51.47 points came on Friday.

Also helping has been a relatively stable China market given the massive volatility it displayed last month.

Here, the overwhelming focus has been on blue chips throughout the past month, almost to the exclusion of the rest of the market. For most of the year up to September, a ballpark estimate of the proportion of daily dollar volume that was done in the 30 index components would be around 45-55 per cent; this week, the figure was around 75 per cent.

On Friday, turnover in the whole market amounted to 1.9 billion units worth S$1.4 billion of which S$1.1 billion or 79 per cent came from trades in STI members.

Singapore shares close higher in line with Wall Street

WALL Street continued its recovery on Monday and this helped the Straits Times Index (STI) jump 46.16 points or 1.6 per cent to 2,897.41 on Tuesday, bringing its two-day rebound to 105 points or 3.8 per cent.

Once again it was blue chips which provided most of dollar volume - of the whole market's 1.5 billion units worth S$1.2 billion that was traded, S$944 million or 79 per cent was done in the 30 STI components. Excluding warrants, there were 263 rises versus 138 falls.

Among the banks, OCBC ended S$0.11 higher at S$9.06 on volume of six million. Nomura in a Oct 1 Quick Note on OCBC said that it continues to have a "buy" rating on the stock as it believes the bank has strong risk management and a strong balance sheet which will serve it well during this cyclical downturn.

"In addition we believe higher interest rates in Singapore will help cushion its net interest margins from downside pressure from its overseas operations," said Nomura. "We view the current valuations of 1x 12-month forward book as a good entry point."

Singapore News Highlights for Monday

• Singapore benchmark Straits Times Index opened higher, after Wall Street gained on Friday, rising 36.23 points or 1.3 per cent to 2,829.38.
• Mandala Energy will invest US$179.6 million in a 35% stake in the Lemang Production Sharing Contract from Ramba Energy's subsidiary, PT Hexindo Gemilang Jaya.
• Sinocloud cancelled its proposed acquisition of up to 45.95% of China Satellite Mobile Communications Group.
• Global Yellow Pages signed a deal to buy a company that handles the retail master franchise and supply chain business for the Wendy's brand of ice-cream in Australia and New Zealand.
• Singapore Exchange (SGX) has launched a new index business,named "SGX Index Edge", which will offer comprehensive services aimed at addressing the rising demand for index-linked investment in Asia.
• Oil gains near US$45 as falling rigs signal US output cuts.
• Dollar slumped,while Asian index futures rise as jobs dim rate outlook.
• World Bank trims 2015 & 2016 East Asia forecasts, cites China and US rate risks.

STI MARKET REVIEW

Singapore benchmark Straits Times Index (STI) opened at 2,800.54 points, up 9.65 points or 0.35 per cent, after US stocks gained the previous night and ahead of the release of China's official purchasing managers' index (PMI) data, a manufacturing gauge and ended 11.51 points or 0.41% higher to 2772.36. STI came off from its intra-day peak of 2799.80 and low of 2772.36 Top LosersScrip NameCMP%changeNOBLE0.41-1.2KEPPEL CORP6.72-0.88SEMBCORP

MARINE2.27-0.87UOL5.96-0.83JARDINE C&C26.82-0.74Singapore stocks posted gains midday on better-than-expected economic data out of China. China's official Purchasing Managers' Index climbed to 49.8 in September, compared with a median estimate of 49.7 in a Bloomberg poll, as well as an August reading of
49.7.

LOCAL BOURSE
Singapore home prices dropped for an eighth quarter, matching the longest losing streak in 13 years, as tighter mortgage curbs cooled demand in Asia's second-most expensive housing market. An index tracking private residential prices fell 1.3% in the three months ended Sept. 30 from the previous quarter. The slump was the most since June 2009, in the aftermath of the global financial crisis.

Market forecast:
STI is expected to be positive tomorrow as China's official Purchasing Managers' Index has come better than expected. STI has the support level of 2778. STI has its resistance at 2828. If it breaks this level it might go up to 2860. Investor sentiments are still cautious over the early rate hike of U.S. by FED.

Singapore News Highlights fro wednesday

• Singapore benchmark Straits Times Index (STI) opened flat at 2,786.63 points, down 1.31 points or 0.05 per cent, after a Tuesday afternoon rebound.
• Lifebrandz posted a S$7.63 million loss for full-year 2015.
• Cacola Furniture will resume trading only after announcing the termination of a reverse takeover that would have seen company go into agri-food business.
• Singapore's Petrochemical Plant is in receivership.
• S$ bonds are resilient amid equity alngwith currency selloffs.
• Noble Group shares fell by 15% on global commodity woes.
• Singapore property auction market recorded S$27.6m of sales in Q3.
• Asian share slide halts but weaker commodity outlook weighs.
• Asian futures rose amid late US rally while yen holds advance.
• Switzerland has topped the World Economic Forum's competitiveness ranking for a 7th consecutive year, with Singapore and the US second and third.
• Oil prices rallies as equities stabilise.
• Palm oil prices seen up 40 per cent by mid-2016.
• IMF has warned of market breakdown potential due to low rates.
• Dollar has drifted lower as market awaits Yellen rate comments.
• Sing dollar has fallen through S$1.43 against US dollar, to fresh six-year

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Singapore shares open lower again on global market turmoil

SINGAPORE'S benchmark Straits Times Index opened on Tuesday morning at 2,754.35 points, down 1.35 per cent or 37.57 points, at 9.03am.

The decline echoed Monday sell-offs in the US and Europe, along with falling commodities prices. Some 65.8 million shares worth S$78.2 million changed hands. Gainers outnumbered losers 20 to 141. Top stocks traded by value were DBS, ST Engineering, Singtel, UOB and OCBC. All opened lower.