Gold treads water as all eyes on US Jobs data for Fed clues

Gold headed for a second weekly decline ahead of a key US payrolls report that's expected to give investors direction on the Federal Reserve's tightening path.

Bullion for immediate delivery was little changed at US$1,314.40 an ounce at 9:03am in Singapore, according to Bloomberg generic pricing. The metal is down 0.5 per cent this week after touching US$1,302.56 on Thursday, the lowest level since June 24.

Gold's recent declines have eroded its 2016 rally as traders price in a higher probability of an interest rate increase in the world's largest economy, damping the appeal of bullion, which doesn't offer yield.

The US nonfarm payrolls report later Friday will be important in determining whether the Fed will raise borrowing costs as soon as this month. US employers probably added 180,000 jobs in August, according to economists' estimates.
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Australia, NZ: Shares subdued amid mixed earnings reports

Australian shares dipped on Friday and looked set to end the week little changed following a subdued performance by Wall Street and as local earnings reports remained mixed.

But trade was cautious ahead of a speech by Federal Reserve Chair Janet Yellen later in the day.

Markets are hoping for some clarity on whether the Fed might hike interest rates in September or even December, but it is far from clear Ms Yellen will oblige them. The subject of the speech is the Fed's policy toolkit and is expected to be longer term in outlook.

The S&P/ASX 200 index was down a slim 0.2 per cent, or 10.4 points, at midday at 5,531.5. For the week, the benchmark was up a bare 0.1 per cent.

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Australia: Shares flat, New Zealand rises on company results

Australian shares were flat on Thursday, trading largely in response to company results and outlook, with falls in energy and commodities stocks offset by retailers' gains, while New Zealand shares rose, pushing the index near record highs.

The S&P/ASX 200 index ticked 3 points lower to 5,558.6 by 0306 GMT, a fall of 0.05 per cent.

"I don't really think there's really a catalyst in the market at the moment," said Mathan Somasundaram, a quant strategy researcher at stockbroker Baillieu Holst.

"People are waiting for guidance because the market lacks any real sentiment to go in either direction," he said, adding that traders will closely follow Federal Reserve Chair Janet Yellen's speech to a global central bankers' gathering in Jackson Hole on Friday.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 struggle, oil resumes losses on glut woe

Most Asian markets slipped on Wednesday as traders trod water ahead of a key speech by Federal Reserve boss Janet Yellen this week, while oil suffered fresh losses on persistent glut worries.

With speculation growing that US interest rates could rise by the end of the year, Ms Yellen's comments at a global central bankers meeting in Jackson Hole Friday will be scoured for forward guidance on US central bank policy.

There is a chance borrowing costs could rise as soon as next month, analysts say, but most bets are on a move just before the end of the year, or in February.

"While recent US data has been mixed, the base case for the Fed is probably to increase rates in the absence of any compelling reason not to," Michael McCarthy, chief market strategist in Sydney at CMC Markets, told Bloomberg News.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 marginally higher on Monday

SINGAPORE shares opened marginally higher on Monday, despite downward pressures seen during the opening of other Asian markets along with crude futures.

At 9.01am, the Straits Times Index was up 1.45 points at 2,845.47.

Some 168.9 million shares worth S$51.5 million changed hands. Losers outpaced gainers 53 to 49.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: Stronger miners help keep shares steady

Mixed showings among mining and bank stocks kept the Australian share market mostly flat on Friday, with investors shrugging off disappointing financial results.

The S&P/ASX 200 index was 0.16 per cent, or 9 points, higher at 5,516.

Weak oil and gas prices hammered half-year profits at Australia's Woodside Petroleum and Santos on Friday, but investors sent their shares higher as both companies reported progress on cost-cutting.

Woodside was trading 2 per cent firmer, while Santos gave up its gains and was down 0.2 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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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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Asia: Most stocks rise after Fed minutes show caution

Most Asian stocks ticked up Thursday, tracking gains on Wall Street after minutes from the Federal Reserve's July meeting showed caution about raising interest rates, supporting markets.

But Tokyo's main index sank as the dollar fell against the safe haven Japanese currency, slumping below 100 yen for the second time this week and hitting Japan's exporters.

US Federal Reserve policy makers last month believed risks to the US economy had lessened but wanted to keep their interest rate policy "options open", according to minutes released Wednesday, dampening hopes for an imminent rate hike.

The Federal Open Market Committee remained divided on the near-term danger of inflation, with some seeing little threat but others worried that there could be a sudden upward push on prices as the labour market continues to tighten.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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China home prices rise 7.9% year on year in July

Average new home prices in China's 70 major cities rose 7.9 per cent in July from a year earlier, an official survey showed on Thursday.

That compared with a 7.3 per cent increase in June.

Home prices in Shenzhen and Xiamen had the biggest surge, rising 40.9 per cent and 39.2 per cent, respectively, from a year ago.

The booming property market has been a key driver of China's economic growth in the first half of the year as weak demand at home and abroad continue to take a toll on trade and investment.

But concerns are growing that the property rebound may be coming to an end as local governments tighten restrictions on home purchases to cool sharp price rises, which are sparking fears of asset bubbles.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 MARKET CLOSING UPDATE OF 27th JULY'2016

Singaporeshares close 0.3 per cent up




Singapore equities ended 0.3 per cent higher on Wednesday, with the Straits Times Index gaining 8.05 points to 2,941.49.




Volume was relatively weak, though. About 991.1 million shares worth S$818.5 million in total changed hands, which worked out to an average unit price of S$0.83 per share.




The most actively traded counter was Annica Holdings, which was flat at S$0.001 with 252.5 million shares changing hands. Other actives included CNMC Goldmine and Noble Group.




Gainers outnumbered losers 212 to 182, or about seven up for every six down.
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OCBC cuts target price for SIA Engineering

OCBC Investment Research has cut its target price for SIA Engineering (SIA Engg) on the firm's weak core earnings. It lowered the company's fair value from S$3.70 to S$3.63, but kept its "hold" rating on the stock.

SIA Engg shares fell five cents or 1.3 per cent to S$3.70 as at 11.40am on Wednesday. The stock is also trading on an ex-dividend basis.

The group said on Tuesday its net profit rose from S$41.3 million in the first quarter last year to S$198.4 million in Q1 2016.

But this was boosted by a S$141.6 million gain from the divestment of its 10 per cent stake in Hong Kong Aero Engine Services (HAESL) to Rolls-Royce Overseas Holdings and Hong Kong Aircraft Engineering Company.

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Asian Market Update : Epic Research Singapore

Asian stocks dropped for a second day as oil tumbled below US$40 a barrel and investors weighed the direction of US monetary policy.

The MSCI Asia Pacific Index fell 0.5 per cent to 128.10 as of 9:08 am in Tokyo, heading for the lowest close in a week. US shares retreated on Wednesday as Federal Reserve Bank of St Louis President James Bullard joined a chorus of US policy makers floating the prospect of an interest-rate hike as soon as April should the economic data warrant it.

"Fed officials this week reminded the market that they still want to move forward with the rate hikes," Mark Lister, head of private wealth research at Craigs Investment Partners in Wellington, which manages about US$7.2 billion, said by phone.

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Asian Market Update : Epic Research Singapore

Asian stocks rose on Thursday (March 17) after the Federal Reserve pared back expectations for interest-rate increases this year.

The MSCI Asia Pacific Index gained 1.1 per cent to 127.54 as of 9 am in Tokyo. Japan's Topix index added 0.6 per cent even after the yen gained 0.6 per cent against the US dollar on Wednesday. South Korea's Kospi index rose 0.5 pe r cent. Australia's S&P/ASX 200 Index gained 0.6 per cent.

The Fed's signal that borrowing costs won't rise as fast as officials previously forecast propelled US stocks to their highest level this year. Japanese shares climbed even after guidance from the US central bank helped strengthen the yen.

"The Federal Reserve has once again come to the market's rescue," said Michael McCarthy, chief market strategist at CMC Markets in Sydney.

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Asian Market Update : Epic Research Singapore

Asian stocks extended gains at levels last seen at the start of the year as crude oil maintained its rally, while bonds in the region declined after a run of data burnished optimism over the US economy.

The benchmark gauge for Asian equities rose a third day, with Japan's Topix index extending its advance at the highest level since Feb 8 as the yen failed to build on Wednesday's rebound.

US crude clung to its rally, trading at US$34.67 a barrel amid declines in American oil production. Malaysia's ringgit jumped with the Korean won.

Yields on Australian government debt due in a decade rose to a two-week high as rates on similar-maturity Korean notes climbed.

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Asian Market Update : Epic Research Singapore

The global equity bear market deepened in Asian trading, with Japanese stocks headed for their worst week since 2008 as anxiety over central banks' ability to revive the world economy fueled a rally in the yen. Oil rebounded from a 12-year low.

The Topix index slumped 4.4 per cent in Tokyo as traders returned from holiday, pushing the regional Asian benchmark toward its steepest weekly drop since gyrations in Chinese assets at the start of the year. US index futures signaled gains after losses there helped the MSCI All-Country Index cap a 20 per cent slide from its May record. The yen was set for its strongest two-week advance since 1998. US crude rose from a 12-year low.

"We've entered a different phase in the market," said Juichi Wako, a senior strategist at Nomura Holdings Inc in Tokyo. "We're not simply in a risk-off mode, the market's fallen to the point of pricing in a recession in the US."

Japanese Finance Minister Taro Aso said regulators will respond to market volatility if necessary after a move to negative rates failed to assuage anxieties last month.

A stronger yen threatens to imperil the world's third-largest economy through disinflation and lower profits for exporters.

Investors ignored a second day of testimony from Janet Yellen, whose indication that the Federal Reserve won't rush to raise interest rates failed to stem a selloff in riskier assets.

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Asian Market Update : Epic Research Singapore

Asian stock markets tumbled while safe haven assets and oil prices jumped Monday in the first full day's trade of 2016 as a flare-up in tensions between Iran and Saudi Arabia raised concerns about the volatile Middle East.

Saudi Arabia severed diplomatic ties with its old foe Iran Sunday after protesters ransacked its embassy in Tehran in response to the execution of a Shiite cleric.

Riyadh gave Iranian diplomats two days to leave the kingdom, while the supreme leader in Tehran said Saudi Arabia would face "quick consequences" for the execution.

Relations between Sunni-ruled Saudi Arabia and Shiite-ruled Iran have been strained for decades, with Riyadh frequently accusing Tehran of interfering in Arab affairs.

The two countries have also been divided over the nearly five-year war in Syria, where Iran is backing the regime, and the conflict in Yemen where a Saudi-led coalition is battling Shiite rebels.

The developments are the latest to inflame the powder keg region and add to a list of negative news that hurt world markets over the past year, including China's economic malaise, plunging oil prices and anaemic global growth.

"It's going to be a testy start to the week," said Angus Nicholson, a Melbourne-based market strategist at IG Ltd.

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Asian Market Update : Epic Research Singapore

Asian stocks dipped on Monday amid a lack of immediate directional cues in light year-end trade, although Japanese shares managed to rise following a rebound in crude oil prices from multiple-year lows.

Investors across asset markets were without some of the usual leads as markets in Europe and North America and many in Asia were closed on Friday for Christmas.

MSCI's broadest index of Asia-Pacific shares outside Japan gave up earlier modest gains and were last down 0.2 per cent. The index was on track for an 11 percent loss this year.

Shanghai shares scraped out a 0.1 per cent gain on Monday, while Hong Kong's Hang Seng dropped 0.4 per cent. South Korea's KOSPI fell 1 per cent.

Stocks affiliated with Samsung Group fell after the South Korean conglomerate said on Sunday its battery-making arm Samsung SDI will sell shares in sister firm Samsung C&T Corp to comply with regulatory requirements.

Japan's Nikkei rose 0.2 per cent, with soft domestic production and retail data offset by a rebound in crude oil prices. "Disappointing production and retail figures have crushed the chances of any sort of photo-finish for the Nikkei this year," said Martin King, co-managing director at Tyton Capital Advisors. "But oil holding in the high 30s will provide some welcome respite for energy companies at year-end and see the index close out 2015 in 19,000 point territory." The Nikkei, lifted in part by Japanese Prime Minister Shinzo Abe's reflationary policies, was headed for its fourth straight year of gains.

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Asian Market Update : Epic Research Singapore

Asian stocks dropped, with the regional benchmark index retreating from a seven-week high, as Japanese shares slipped after a holiday and investors awaited China's trade data.

The MSCI Asia Pacific Index fell 0.3 per cent to 133.76 as of 9.00 am in Tokyo after closing Monday at the highest since Aug 20. The Standard & Poor's 500 Index rose for a fourth day on Monday as speculation global central bankers will maintain stimulus, at least through the end of the year, underpins a recovery in equities. Data due Tuesday is expected to show ongoing contraction in Chinese exports and imports, potentially reigniting the concerns that fueled last quarter's volatility or stoking bets on further easing.

"The market is trying to digest the recent rally," Shane Oliver, Sydney-based global strategist at AMP Capital Investors Ltd., which manages US$112 billion, said on Bloomberg Television. "The broad picture is still one of ongoing recovery for share markets. We certainly will see more stimulus out of China." Japan's Topix index lost 0.3 per cent. South Korea's Kospi index was little changed. New Zealand's S&P/NZX 50 Index added 0.3 per cent. Australia's S&P/ASX 200 Index slipped 0.2 per cent.

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