Stocks to watch: SMRT, Sim Lian, Yangzijiang

THE following companies made material announcements before the opening of Tuesday's market:

SMRT Corporation said that a scheme meeting will be convened on Sept 29, 3.30pm, at The Star Theatre, Level 5 - same day and venue as the NRFF EGM. The latter is the EGM of the company in relation to the proposed sale of its operating assets, in connection with the contemplated transition from the current rail financing framework to the new rail financing framework (NRFF).

The meeting - through a shareholders' vote - will determine if Belford (a 100 per cent owned company of Temasek) will acquire 100 per cent shareholding of SMRT at a scheme price of S$1.68 apiece.

Sim Lian Group (SLG) said that the privatisation offer of the company by Coronation 3G has been declared unconditional.
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Asia: Markets rally as US rate expectations fade

Asian stock markets rallied on Monday as a slowdown in US jobs creation doused expectations for an interest rate hike this month while at the same time showing the world's top economy was still improving.

The much-anticipated reading on Friday showing 151,000 new posts in August was below expectations but indicated hiring remained solid.

Before its release analysts had marked the reading as a guide to the Federal Reserve's plans for monetary policy after the bank's boss Janet Yellen - and later her vice chairman Stanley Fischer - suggested a rate rise could come this year.

While most market-watchers suggested the below-par reading was likely to mean the Fed will hold off moving this month, there are still some who think a hike could still come soon, providing support to the dollar.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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Seoul: Won, stocks rise as Federal Reserve's Sept rate hike seems unlikely

The South Korean won and shares rose to their strongest in over two weeks early on Monday as weaker than expected US jobs data reduced speculation on an imminent increase in US interest rates.

The won was quoted at 1,109.3 per US dollar as of 0208 GMT, up 0.7 per cent compared to the previous close of 1,117.2.

The Korea Composite Stock Price Index (Kospi) was up 0.8 per cent at 2,055.58 points.

The currency and the stocks were both at their strongest since Aug 19 of this year.
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Hong Kong, Shanghai: Stocks rally at open

Hong Kong shares surged more than one per cent in the first few minutes of trade Monday as a slowdown in US jobs creation last month lowered expectations for an interest rate hike this month.

The Hang Seng Index added 1.20 per cent, or 280.29 points, to 23,546.99.

The benchmark Shanghai Composite Index edged up 0.11 per cent, or 3.36 points, to 3,070.71 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.29 per cent, or 5.90 points, to 2,015.19.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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AIG raises HK$1.49b by selling remaining PICC P&C shares

American International Group has raised about HK$1.49 billion (S$261.34 million) by selling its remaining shares in Chinese insurer PICC Property and Casualty Co Ltd, IFR reported.

AIG sold 111 million shares at HK$13.46 each after marketing the deal at a floor price of HK$13.39. The shares ended Friday at HK$13.46.

AIG bought PICC P&C shares ahead of the Chinese insurers'Hong Kong IPO in 2003 and has been steadily selling down its shares over the past two years.

Including the latest sale, the US insurer has raised about US$2.8 billion, according to Reuters calculations.

AIG did not respond to Reuters' request for comment, while PICC P&C could not be reached.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 1.13% higher on Monday after weak US job data

SINGAPORE stocks opened 1.13 per cent higher on Monday, with the Straits Times Index adding 31.63 points to 2,835.55 as at 9am.

This followed weaker-than-expected US August jobs data released on Friday, which reports have said will reduce the odds for a US rate hike this month.

In Singapore, about 50.1 million shares worth S$73.4 million in total changed hands. Gainers almost tripled losers at 98 to 32.

Top stocks by value traded were Singtel, DBS and Singapore Exchange.

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Stocks to watch: Vallianz, Jasper, CIT, Nico Steel

THE following companies made material announcements before the opening of Monday's market:

Vallianz Holdings has requested for a halt in the trading of its shares, before the opening of Monday's market, citing "pending release of announcement".

Last week, Vallianz said that certain entities within the group have recently received letters from the interim judicial managers (IJMs) of Swiber Holdings and Swiber Offshore Construction (SOC), requesting payments totalling about US$63.5 million, which the IJMs claim to be funds owed to Swiber and SOC.

Vallianz has declined to make such payments, and said it is awaiting a response from the IJMs, and will make further announcements when appropriate.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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Seoul: Won edges up ahead of US August non-farm payrolls report

The South Korean won inched up early on Friday in cautious trade ahead of the much-awaited August US non-farm payrolls report later in the day - which could give a clearer view on a potential Fed rate hike.

The won was quoted at 1,119.1 as of 0155 GMT, up 0.3 per cent compared with Thursday's close of 1,122.1.

News that a gauge of US national factory activity fell in August for the first time in six months added to the tentative mood.

"The dollar weakened broadly on the weak factory data but cautious investor environment is keeping the won from extending gains," said Jeong My-young, a foreign exchange analyst at Samsung Futures.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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Malaysia: Shares open higher

MALAYSIA share prices opened higher on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 4.050 points to 1674.600.

Volume was 19.81 million lots worth RM8.65 million.

Gainers outnumbered glosers 73 to 32.

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Europe: Shares rise at open, buoyed by Elekta

European shares rose at the open on Thursday as commodity stocks recovered from recent falls, with a leading index also buoyed by well-received results from Sweden's Elekta to start September on a positive footing.

The Stoxx Europe 600 rose 0.6 per cent, after finishing August with a 0.4 per cent fall on Wednesday as commodity prices slumped.

However, oil prices stabilised and metal prices recovered on Thursday, leaving the energy and mining sectors up 0.5 per cent and 1.3 per cent respectively. Banks continued a recent rally and were the top sectoral risers, with HSBC up 2.4 per cent.

Elekta was the top single-stock gainer on the Stoxx 600, up 5.2 per cent after the maker of radiation therapy equipment posted Q1 core profit above forecast and said demand had been good in emerging markets, with China particularly strong.

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Australia, NZ dollars inch higher on positive economic news

The Australian and New Zealand dollars edged higher on Thursday as investors focussed on the positives in domestic economic data, though their longer-term direction remained at the mercy of a looming US jobs report.

The Australian dollar crawled ahead to US$0.7538 , from US$0.7520 late Wednesday, but was still down slightly for the week. Support lies around US$0.7490 with resistance at US$0.7580.

Australia's economic data proved a mixed bag but there were enough signs of improvement in business investment to keep the currency underpinned.

While business spending fell 5.4 per cent in the second quarter, firms upgraded their plans for the 2016/17 financial year in a promising sign of a long-awaited pick-up outside of mining.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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Taiwan: Stocks dip to over one-week low; financial shares drop

Taiwan stocks fell on Thursday, tracking declines in overseas markets, with selling led by heavyweights in the financial sector.

Shares in Mega Financial Holding Co Ltd, which closed down for nine in 10 trading sessions, slipped 1.9 per cent early in the trade, following its chairman's resignation on Wednesday.

Shiu Kuang Si resigned from all his positions at the Taiwanese financial firm after its banking unit was fined last month for breach of anti-money laundering regulations in New York.

As of 0225 GMT, the main Taiex index dropped as much as 0.9 per cent to 8,980.21, to hit the lowest since August 22. The bourse closed down 0.5 per cent in the previous session.

The electronics subindex lost 0.5 per cent, while the financials subindex sank 1.1 per cent.

The Taiwan dollar firmed NT$0.013 to T$31.713 per US dollar.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 0.1% up on Thursday

SINGAPORE stocks opened 0.1 per cent higher on Thursday, with the Straits Times Index advancing 2.11 points to 2,822.7 as at 9.01am.

Markets are in wait-and-see mode ahead of US jobs data to be released on Friday night, Asia time.

In Singapore, about 50.7 million shares worth S$90.4 million in total changed hands, which worked out to an average unit price of S$1.78. The field was evenly matched, with as many gainers as losers at 53 each.

The most actively traded counter was Noble, which fell S$0.002 to S$0.117 with 5.8 million shares changing hands.

Other actives included Golden Agri-Resources and Charisma Energy.

Top stocks by value traded were Singtel, DBS, Jardine Matheson, Keppel Corp and OCBC.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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Asia: Markets mostly down but Tokyo soars on weak yen

Tokyo stocks resumed a rally on Wednesday as the yen fell against the dollar on US interest rate talk but most other Asian markets struggled as investors were spooked by the prospects of higher borrowing costs in the world's top economy.

Dollar demand has intensified since Federal Reserve boss Janet Yellen on Friday hinted at a possible hike as data point to continued economic improvement.

Figures showing US consumer confidence at its highest level in almost a year provided further evidence of a brighter outlook.

On Tuesday vice chairman Stanley Fischer told Bloomberg TV that any movement in rates was dependent on data, adding that "employment is very close to full employment".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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Oil heads for biggest monthly gain since April before Opec talks

Oil is poised for the biggest monthly advance since April amid speculation informal talks among Opec members in Algeria next month may result in action to stabilise the market.

Futures slid 0.3 per cent in New York, trimming the monthly gain to 11 per cent. Iraq would support a proposal for the Organization of Petroleum Exporting Countries and other major producers to freeze output, Prime Minister Haidar Al-Abadi said in Baghdad.

US crude stockpiles increased by 942,000 barrels last week, the industry-funded American Petroleum Institute was said to report. Government data due Wednesday is forecast to show a 1.3 million build.

Oil entered a bull market Aug 18, less than three weeks after tumbling into a bear market. A cap on production would be positive for the market, Saudi Arabia's Energy Minister Khalid Al-Falih said in an interview last week, while ruling out a cut to output. A deal to freeze supply was proposed in February but a meeting in April ended with no final accord.
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South Korea's July factory output rebounds, focus turns to trade

South Korea's industrial output unexpectedly grew in July but the improvement was mainly due to temporary factors, spurring investors to hone in on trade data out on Thursday for further clues on the health of the economy.

In monthly terms, industrial output rose 1.4 per cent in July on a seasonally adjusted basis as production of electronic components and cars boosted activity, data showed on Wednesday.

The median forecast in a Reuters survey of analysts was for output to decline 0.6 per cent from June. June's reading was revised down to minus 0.4 per cent from minus 0.2 per cent estimated earlier.

"We think the bounces in confidence and in IP growth are noise rather than signal and that IP growth remains essentially flat and services are growing around 3 per cent," said Tim Condon, economist at ING. "If IP and services remain at their July level in the remainder of the quarter, we estimate third-quarter growth at 3.0 per cent."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 0.2% down on Wednesday

SINGAPORE stocks opened 0.2 per cent lower on Wednesday, with the Straits Times Index losing 5.1 points to 2,823.29 as at 9am.

This came after US stocks fell the night before and the dollar rose amid rate hike worries.

About 50.8 million shares worth S$106.3 million in total changed hands, which worked out to an average unit price of S$2.09 per share.

Gainers outnumbered losers 53 to 47, or about nine up for every eight down.

The most actively traded counter was Noble Group.

Top five stocks by value traded were Singtel, UOB, DBS, OCBC and ComfortDelGro.

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Asia: Most markets slump, Tokyo soars on US rate talk

Japanese stocks rallied on a weaker yen but other Asian markets retreated Monday after Federal Reserve chief Janet Yellen hinted at a US interest rate hike by the end of the year.

In a much-anticipated speech Friday Yellen said a pick-up in the world's top economy and an improvement in the jobs market meant "the case for an increase in the federal funds rate has strengthened in recent months".

While there is speculation rates could rise as early as next month, most experts had said that is unlikely and that December or February would be safer bets.

Yellen did not give a timeframe during her speech at the annual Jackson Hole symposium of global central bankers, but Fed vice chairman Stanley Fischer later said September was a possibility.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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Australia: Shares at 1-month low on US rate rise concerns

Australian stocks fell for a third straight session on Monday to their lowest in over a month as sentiment was dampened by comments from top US Fed officials raising the possibility of an interest rate hike this year.

The S&P/ASX 200 index fell 0.4 per cent as of 0232 GMT. The benchmark lost 0.5 per cent last Friday.

Fed chair Janet Yellen told a global monetary policy conference last Friday that the case for a rate increase had grown stronger, but she did not indicate when the Fed might hike rates.

However, Fed vice chair Stanley Fischer suggested a move could come at the central bank's September policy meeting if the economy was doing well.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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Hong Kong, Shanghai: Stocks open down after Yellen rate hike hint

Shares fell in the first few minutes of trade in Hong Kong Monday after Federal Reserve boss Janet Yellen suggested US interest rates could be lifted before the end of the year.

The Hang Seng Index slipped 0.16 per cent, or 36.28 points, to 22,873.26.

And the benchmark Shanghai Composite Index edged down 0.06 per cent, or 1.85 points, to 3,068.46, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, slipped 0.07 per cent, or 1.41 points, to 2,021.68.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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