Asia: Stocks cautious but oil price holds above US$50

Asia stocks markets moved cautiously in early trade on Friday despite a positive lead from Wall Street and further overnight gains in the price of oil.

US and European markets ticked up overnight, supported by a dovish outlook for US interest rates and some healthy post-Brexit data in Britain.

The oil price has also continued its upward trend, with Brent crude holding above US$50 a barrel on official data showing lower US crude stockpiles and hints of a possible production freeze.

But traders treaded carefully Friday morning, with Asian markets moving in and out of positive territory.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Singapore shares open lower on Fed split over raising rates

SINGAPORE shares opened lower on Thursday, following news that the US Federal Reserve's most recent policy meeting showed committee members were split on the issue of raising interest rates soon.

The benchmark Straits Times Index was down 3.69 points or 0.13 per cent to 2,839.66.

At 9.06am, 59.5 million shares worth S$63 million had changed hands, with losers beating gainers 63 to 62.

Some of the most active counters were Singtel, Ezion Holdings and Magnus Energy.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Ex-BSI Asia CEO Brunner settles Singapore bonus suit with bank

Hanspeter Brunner, BSI SA's former Asia chief who was referred to Swiss and Singapore regulators over the bank's ties with a Malaysian state firm, has settled a lawsuit seeking deferred payments, according to the bank's lawyer.

Mr Brunner's lawsuit alleged that BSI's Singapore unit breached bonus agreements and a separation pact without any legal basis. Mr Brunner, 64, was among six BSI bankers referred by Singapore's central bank to prosecutors over lapses in dealing with 1Malaysia Development Bhd (1MDB).

He's also one of two former BSI executives the Swiss financial regulator has started proceedings against. Mr Brunner's retirement was announced in March.

"Hanspeter Brunner has withdrawn his claim against the bank in its entirety," Muralli Rajaram, a Singapore-based lawyer for BSI, said Thursday by phone, confirming the settlement.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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SGX opening update shares open 0.1% up on Friday

SINGAPORE shares opened 0.1 per cent higher on Friday, with the Straits Times Index advancing 2.47 points to 2,540.75 as at 9am.

The blue-chip index inched up after US Federal Reserve chair Janet Yellen said she was not taking negative rates off the table.

About 27 million shares worth S$47.6 million changed hands, which worked out to an average unit price of S$1.76 per share.Click Here To Register For Free
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Alibaba Market News Update : Epic Research Singapore

Alibaba Group Holding Ltd. BABA, +0.92% said late Thursday that it had priced its $8 billion debt offering at yields ranging from 1.625% to 4.5%. The securities sale was oversubscribed by a large margin, according to a Wall Street Journal report, which put the total orders as high as $55 billion. 

Of the offer, $300 million was sold as floating-rate notes due 2017, $1 billion due in 2017 was priced at 1.625%, $2.25 billion due in 2019 was priced at 2.5%, $1.5 billion due in 2021 was priced at 3.125%, $2.25 billion due in 2024 was priced at 3.6%, and $700 million due in 2034 was priced 4.5%. Alibaba's 10-year, 3.6% tranche compares to a 2.303% yield Thursday for the benchmark U.S.

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Alibaba Market News Update : Epic Research Singapore

Alibaba Group Holding Ltd. BABA, +3.20%  Chairman Jack Ma said he wants Alipay to go public in China. He made the comments right before the e-commerce giant announced that sales through its website on Nov. 11 beat last year’s record by nearly 60%.

The Alibaba e-shopping website Tmall saw sales total 57.1 billion yuan ($9.3 billion) on Nov. 11, compared with last year’s record of 36.2 billion yuan.

Alipay used to be an asset of Alibaba’s, then was spun off in 2010 despite the objection of foreign shareholders Yahoo Inc. YHOO, +3.16%  and Softbank Corp. 9984, +2.88% SFTBF, +1.76%  In 2011, the three companies reached an agreement that said Yahoo and Softbank will get a one-off cash payment equaling 37.5% of the capital Alipay raises when it lists. The payment cannot exceed $6 billion or be less than $2 billion.

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Alibaba Market News Update : Epic Research Singapore

Chinese e-commerce giant Alibaba debuted Friday morning on the New York Stock Exchange as the biggest public offering of all time. The company, founded by Jack Ma in 1999, has a market capitalization of over $200 billion.

The historic IPO priced at $68 a share, the higher end of the range of $66 to $68. The opening price rose still further to $92.70. Shares closed their first day of trading at $93.89.

By raising US$25.02 billion, Chinese online giant Alibaba broke the record for the largest initial public offering in history, after investment underwriters exercised the option for 48 million extra shares, bringing the total to 368 million.

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Alibaba Market News Update : Epic Research Singapore

Alibaba to buy out UCWeb in China's 'biggest' internet merger

Alibaba Group Holding Ltd. said Wednesday it is buying the rest of mobile-browser provider UCWeb for an undisclosed amount, completing what the company said was the biggest merger of Chinese Internet companies in history. Alibaba already owned about 66% of UCWeb, according to the filing for its U.S. initial public offering. Alibaba has spent $4.8 billion on acquisitions over the past six months.

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