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Singapore and US Market Analysis Singapore stocks fell on Friday (Nov 18), tracking Wall Street declines as Federal Reserve officials remained hawkish on future interest rate hikes. The benchmark Straits Times Index (STI) fell 0.4 per cent or 13.81 points to 3,272.23. In the broader market, losers beat gainers 281 to 260 after 1.2 billion securities worth S$1.2 billion changed hands. Regional markets were mixed on Friday. Japan's Nikkei 225 fell 0.1 per cent, Hong Kong's Hang Seng Index declined 0.3 per cent and South Korea's Kospi rose 0.1 per cent. Wall Street stocks picked up Friday after a rocky session following positive results from retailers and as markets tried to shake off concerns of further interest rate hikes by the US central bank. The Dow Jones Industrial Average rose
Selective US Stocks Analysis The US dollar rose on Thursday (Nov 17) as investors digested mixed US economic data, while the British pound fell as the UK government unveiled its latest budget update. The greenback has tumbled in recent weeks as inflation data and comments from Federal Reserve (Fed) officials have suggested that the central bank can soon slow the pace of its punishing interest rate hikes. Yet the US dollar climbed on Thursday after US retail sales data for October, released on Wednesday, came in stronger than expected. The euro was down 0.63 per cent against the US dollar at US$1.033 at 1340 GMT, after hitting its highest level since July at US$1.048 on Tuesday. The US dollar index, which measures the currency against six major peers, rose 0.66 per cent to 106.98. Th
Selective Singapore Stocks Analysis Sembcorp Industries is buying a stake in a renewable energy company in China. This will enable the Singapore-listed energy and urban solutions provider to enter into a partnership with the world’s largest renewables player. Sembcorp announced on Thursday (Nov 17) that wholly-owned subsidiary Sembcorp Energy (Shanghai) is acquiring a 45.3 per cent interest in Hunan Xingling New Energy for 1.1 billion yuan (S$204 million) from Wuling Power. Wuling Power is an affiliated company of Chinese state-owned enterprise State Power Investment Corporation (SPIC). The transaction will result in Xingling New Energy becoming a joint venture between Sembcorp and Wuling Power, with the SPIC affiliate holding the remaining 54.7 per cent stake in Xingling New
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@无极阿尔法:Singapore and US Market Analysis Singapore stocks rose despite other regional markets falling into the red on Thursday (Nov 17), with the Straits Times Index (STI) climbing 0.6 per cent or 19.87 points to 3,286.04. Across the broader market, gainers beat losers 274 to 273 after 1.4 billion securities worth S$1.3 billion changed hands. On the STI, Sembcorp Industries was the best performer. The counter gained 5.2 per cent or S$0.15 to close at S$3.05. Meanwhile, Jardine Matheson Holdings was at the bottom of the table, shedding 2.6 per cent, or US$1.27 to close at US$47.18. The trio of banks were also in the black. DBS gained 1.5 per cent or S$0.54 to close at S$35.61, while UOB gained 1.1 per cent or S$0.32 to close at S$30.16 and OCBC gained 0.4 per cent or S$0.05 to close at S$12.
Singapore and US Market Analysis Singapore stocks rose despite other regional markets falling into the red on Thursday (Nov 17), with the Straits Times Index (STI) climbing 0.6 per cent or 19.87 points to 3,286.04. Across the broader market, gainers beat losers 274 to 273 after 1.4 billion securities worth S$1.3 billion changed hands. On the STI, Sembcorp Industries was the best performer. The counter gained 5.2 per cent or S$0.15 to close at S$3.05. Meanwhile, Jardine Matheson Holdings was at the bottom of the table, shedding 2.6 per cent, or US$1.27 to close at US$47.18. The trio of banks were also in the black. DBS gained 1.5 per cent or S$0.54 to close at S$35.61, while UOB gained 1.1 per cent or S$0.32 to close at S$30.16 and OCBC gained 0.4 per cent or S$0.05 to close at S$12.
Singapore and US Market Summary Singapore shares struggled for direction on Wednesday (Nov 16), with the Straits Times Index (STI) closing 0.3 per cent or 9.11 points lower at 3,266.17 amid mixed regional performance. In the broader market, gainers beat losers 292 to 271, after 1.7 billion securities worth S$1.5 billion were traded. On the STI, ST Engineering was the index’s strongest performer, gaining 2.3 per cent or S$0.08 to close at S$3.50. This comes after the company announced on Tuesday evening that its subsidiary, TransCore, has secured a contract worth S$1.47 billion to modernise the tolling infrastructure in New Jersey. Yangzijiang Shipbuilding was at the bottom of the table, declining 3 per cent or S$0.04 to S$1.31. The trio of local banks ended in the red. DBS shed 0.3
Selective US Stocks Analysis OPEC on Monday (Nov 14) cut its forecast for 2022 global oil demand growth for a fifth time since April and also trimmed next year’s figure, citing mounting economic challenges including high inflation and rising interest rates. Oil demand in 2022 will increase by 2.55 million barrels per day (bpd), or 2.6 per cent, the Organization of the Petroleum Exporting Countries (Opec) said in a monthly report, down 100,000 bpd from the previous forecast. This report is the last before Opec and its allies, together known as Opec+, meet on Dec 4 to set policy. The group, which recently cut production targets, will remain cautious, Saudi Arabia’s energy minister was quoted as saying last week. Next year, Opec expects oil demand to rise by 2.24 million bpd, also 100,
Selective Singapore Stocks Analysis China-focused real estate investment trust Dasin Retail Trust on Monday (Nov 14) reported a 7.8 per cent drop in revenue to S$70.7 million for the nine months ended September (9M2022), from S$76.7 million the year before. Net property income for 9M2022 slipped 8.3 per cent to S$55.2 million, from S$60.3 million in the corresponding period last year. The trustee-manager said the declines were due to the temporary closure of some malls and trade sectors by the government due to Covid-19-related restrictions. Rental rebates to tenants in 9M2022 were about three times higher than the previous year, the trustee-manager said. It added that strict travel restrictions and social distancing measures also caused “stifling spending in China’s consumer
Market Summary The Straits Times Index (STI) climbed 1 per cent or 32.47 points to close at 3,260.80 on Monday, while regional markets were mixed. In the broader Singapore market, gainers beat losers 358 to 251, with 2.05 billion securities worth $1.79 billion traded. The best performer on the STI was Mapletree Pan Asia Commercial Trust, which climbed 3.6 per cent or six cents to close at $1.71. Meanwhile, DFI Retail Group came in at the bottom of the table, falling 1.6 per cent or four US cents to US$2.45. The trio of banks were in the black on Monday. DBS gained 0.2 per cent or S$0.07 to close at S$34.86, while OCBC gained 0.4 per cent or S$0.05 to close at S$12.32, and UOB gained 1.5 per cent or S$0.45 to close at S$29.95. Wall Street stocks ended lower on Monday, stumbling afte
Selective US Stocks Analysis US consumer prices increased less than expected in October and underlying inflation appeared to have peaked, which would allow the Federal Reserve to dial back its hefty interest rate hikes. The consumer price index rose 0.4 per cent last month after climbing by the same margin in September, the Labour Department said on Thursday. Economists had forecast the CPI would advance 0.6 per cent. In the 12 months through October, the CPI increased 7.7 per cent after rising 8.2 per cent on the same basis in September. It was the first time since February that the annual increase in the CPI was below 8 per cent. The annual CPI peaked at 9.1 per cent in June, which was the biggest advance since November 1981. Annual inflation is slowing as last year’s big inc
Selective SG Stocks Analysis Genting Singapore reported on Thursday (Nov 10) a more than 100 per cent increase in net profit for its third quarter, on the back of stronger gaming and non-gaming revenue. Net profit for the three months ended Sep 30, 2022, rose to S$135.8 million from S$60.7 million in the same period a year ago, the operator of Resorts World Sentosa (RWS) said in a business update filed to the Singapore Exchange. The Q3 net profit was also significantly higher than the S$44.1 million net profit posted in the second quarter of FY2022. Genting Singapore’s stronger profits come on the back of improved revenue, as recovery from the impact of Covid-19 restrictions continued. Revenue for the group more than doubled on-year to S$519.7 million in Q3 FY2022. It was also 49 per
US and Singapore Market Summary The Straits Times Index (STI) extended its rally into a five-session rising streak on Thursday (Nov 10), even as key Asian markets fell on caution ahead of the release of key US inflation figures. The STI rose 0.2 per cent or 7.68 points to close at 3,173.18. In the broader Singapore market, gainers edged out losers 257 to 251, after 1.57 billion securities worth S$1.13 billion changed hands. DFI Retail Group was the biggest winner on Singapore’s blue-chip index, closing 3.3 per cent or US$0.08 higher at US$2.50. The biggest loser among the STI constituents was SATS, which fell 6.3 per cent or S$0.17 to S$2.55. This came after the inflight caterer and ground handler after market close on Nov 9 reported a net loss of S$9.9 million for its second quarte
Market Summary The Straits Times Index (STI) added 0.6 per cent or 19.67 points to close at 3,165.50 on Wednesday (Nov 9), tracking a rally on Wall Street as major US indices gained for the third consecutive day. In the broader Singapore market, gainers outnumbered losers 323 to 213, with 1.6 billion securities worth S$1.1 billion traded. Data centre-focused Keppel DC Reit was the top performer among Singapore’s blue-chip stocks on Wednesday, gaining 3.5 per cent or S$0.06 to end at S$1.76. At the bottom of the table was Hongkong Land – part of the Jardine Matheson Group – which fell 1.2 per cent or US$0.05 to US$4.13. Jardine Matheson Holdings was the only other decliner on the STI, falling 0.2 per cent or US$0.08 to US$47.52. Yangzijiang Shipbuilding was the most heavily traded STI
US and Singapore Market Summary
Market Summary Singapore shares closed higher on Monday (Nov 7), even as China’s decision over the weekend to stick to its zero-Covid policy dampened investor sentiment. The Straits Times Index (STI) gained 11.2 points or 0.4 per cent to close at 3,141.31. In the broader Singapore market, gainers outnumbered losers 322 to 233, with 1.62 billion shares worth S$1.11 billion traded. The top performer on Singapore’s benchmark index was Venture Corporation, after the technology company last Friday (Nov 4) reported a 26.4 per cent rise in earnings for the third quarter ended September, on the back of broad-based revenue growth. Shares of Venture Corp closed 4.3 per cent or S$0.70 higher at S$16.83 on Monday. At the bottom of the table among the index constituents was data centre-focused K
Market Summary Singapore shares closed higher on Monday (Nov 7), even as China’s decision over the weekend to stick to its zero-Covid policy dampened investor sentiment. The Straits Times Index (STI) gained 11.2 points or 0.4 per cent to close at 3,141.31. In the broader Singapore market, gainers outnumbered losers 322 to 233, with 1.62 billion shares worth S$1.11 billion traded. The top performer on Singapore’s benchmark index was Venture Corporation, after the technology company last Friday (Nov 4) reported a 26.4 per cent rise in earnings for the third quarter ended September, on the back of broad-based revenue growth. Shares of Venture Corp closed 4.3 per cent or S$0.70 higher at S$16.83 on Monday. At the bottom of the table among the index constituents was data centre-focused Ke
Market Summary Singapore shares picked up the pieces from the previous day’s rout sparked by the Federal Reserve’s half-hearted dovish stance and recovered some ground on Friday (Nov 4) alongside most regional peers. The Straits Times Index (STI) rose 27.60 points or 0.9 per cent to 3,130.11 as traders trawled for value after Thursday’s sell-off and ahead of key US jobs data. It has ended in positive territory four of the five days, with the STI having gained 70.92 points or 2.3 per cent over the week. On the local bourse, some 1.65 billion securities worth S$1.26 billion were traded. Gainers outpaced losers, with 347 counters up and 218 down. Gains were held up by banking trio DBS, UOB and OCBC. Wall Street stocks finished a volatile day sharply higher Friday (Nov 4) following good
US Stocks Analysis U.S. stock futures fell slightly Thursday night after the major averages dropped for a fourth day, and investors looked ahead to the October jobs report for clues into the pace of future rate hikes from the Federal Reserve. Dow Jones Industrial Average futures fell by 44 points, or 0.14%. S&P 500 and Nasdaq 100 futures dipped 0.15% and 0.12%, respectively. During the regular session Thursday, the Dow Jones Industrial Average slid 146.51 points, or about 0.5%. The S&P 500 lost nearly 1.1%, while the Nasdaq Composite shed 1.7%. Investors weighed the latest 0.75 percentage point rate hike from the Fed, as well as commentary from chair Jerome Powell that suggested a pivot could be further away than traders anticipated. The October nonfarm payrolls report on Fr
Singapore Stocks Fundamental
SG Stocks Analysis OCBC’s 3Q2022 results beat expectations with net profit of S$1.61bn vs consensus estimate of S$1.48bn. Bulk of the beat was from stronger than expected net interest income of S$2.10bn (+44% YoY) and net interest margin growth to 2.06% (+54bps YoY). More details to follow after 10.30am analyst call. With business momentum strong in the third quarter of 2022, DBS will likely remain resilient and post a “solid year” in 2023, said DBS chief executive Piyush Gupta. Gupta noted, however, that the tail-risk scenario of high rates and high inflation will likely play out next year, with inflation remaining sticky and the US Federal Reserve continuing its rate hikes. DBS reported a 32 per cent year-on-year rise in net profit for the third quarter ended September, buo
Singapore and US Markets Analysis
Singapore shares tumbled on Thursday (Nov 3) alongside a sea of red across the regional markets, following overnight losses in Wall Street amid some confusion – and disappointment – over the messaging from the US Federal Reserve on the speed and extent of the monetary tightening path. The key Straits Times Index fell 1.2 per cent or 38.62 points to close at 3,102.51 points. Key gauges across the region posted losses with the sharpest falls in Hong Kong, Malaysia and Australia. Japan was closed on Thursday for a holiday. As widely expected, the Federal Reserve raised the Fed Funds target rate by 75 basis points to 3.75 to 4 per cent at its monetary policy meeting. This marks the Fed’s fourth successive supersized hike. On the local bourse, some 1.3 billion securities worth S$1.02 billion we
Singapore and US Market Analysis
Market Summary Singapore shares closed higher on Wednesday (Nov 2) on late buying after spending all day underwater following overnight losses on Wall Street. Stronger-than-expected jobs data from the world’s largest economy dimmed some hope of a dovish pivot by the Federal Reserve at its latest meeting. The Straits Times Index (STI) advanced 10.63 points or 0.3 per cent to 3,141.13 to log its seventh straight day of gains. For much of the day however, it appeared as if its six-day rally had run out of steam as caution was thick in the air ahead of the Fed rate hike outcome. Japan posted losses, while most key bourses across the region from Hong Kong and China to Taiwan, Malaysia, South Korea and Australia logged gains. Market players have “relied heavily” on US labour market figure
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