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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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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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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Epic Research Singapore : Forex Market Update

The pound GBPUSD -0.09%   fell to $1.6871 from $1.6890 late Thursday. The euro EURUSD -0.08%   was at $1.3872 versus $1.3866.

The Australian dollar AUDUSD -0.10%  inched down to 92.67 U.S. cents from 92.73 U.S. cents late Thursday.

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Epic Research Singapore : Forex Market Update

The dollar gave up its gain against the yen Friday as the conflict in eastern Ukraine overshadowed U.S. employment data providing strong evidence that a labor-market recovery is underway.

The dollar USDJPY -0.10%   gave up earlier gains to trade at ¥102.22, down from ¥102.30 late Thursday. The greenback had pushed above ¥103 just after the jobs report was released.

The ICE dollar index DXY -0.01%  , a gauge of the greenback’s strength against six other currencies, moved down to 79.510 from 79.524 late Thursday. The WSJ dollar index XX:BUXX -0.05%  , another measure of dollar strength, was little-changed at 72.84 versus 72.85.

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Epic Research Singapore : U.S Market Update

The ADP data triggered a choppy session for Wall Street on Wednesday, and the S&P 500 SPX +1.24%  closed down 3.56 points, or 0.2%, at 1,751.64. The index is 5.2% below a peak reached on Jan. 15, after a bout of recent selling.
 
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Epic Research Singapore : Twitter Update

Twitter Inc. TWTR -17.92% shares tumbled late Wednesday after the company reported weaker than expected user growth and timeline views. Twitter said it had 241 million monthly active users in the fourth quarter, lower than the consensus expectation of 249 million. Twitter's timeline views also reached 148 billion in the quarter. Analysts were expecting nearly 174 billion. Revenue and earnings were "good, but users and timeline views were weak," Wedbush analyst Shyam Patil told.Twitter shares were down 11% after hours.

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Epic Research Singapore : U.S Market Update

Futures for the Dow Jones Industrial Average DJH4 -0.12%  rose 58 points, or 0.4%, to 15,355, while those for the S&P 500 index SPH4 -0.18%  gained 9.7 points, or 0.6%, to 1,742.50. Futures for the Nasdaq 100 index NDH4 +0.54%  added 16 points, or 0.5%, to 3,446.

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Epic Research Singapore : STI

Singapore shares hit their lowest in five months on Monday, pressured by concerns over a slowdown in China’s economy after growth in the country's services sector slowed to a five-year low in January.

The benchmark Straits Times Index fell for a third consecutive session, and was down 1% at 2,995.5 by 1 pm, the lowest since Aug. 28, 2013. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.3% lower.

China’s official non-manufacturing Purchasing Managers’ Index (PMI) fell to 53.4 in January from December's 54.6, putting further strains on the market, as pressures from the massive sell-off in emerging markets show little sign of abating.
 
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Epic Research Singapore : Forex Market Update

The euro EURUSD +0.07% was little changed at $1.3491, compared to $1.3489 at the end of the previous week, while the British pound GBPUSD -0.01% inched lower to $1.6424 from $1.6443. The Japanese yen USDJPY +0.13% traded flat after losing hold of some brief gains, with the dollar changing hands at ¥102.08 versus Friday's ¥102.04. The Australian dollar AUDUSD -0.05% saw a fractional loss after a spate of weak data, easing to 87.44 U.S. cents from 87.49 U.S. cents.
 
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Epic Research Singapore : U.S Market Update

The Nasdaq Composite COMP -0.47%  lost 19.25 points, or 0.5%, to 4,103.88. The tech-heavy index is down 0.6% over the week, its second-straight week of declines and 1.7% lower over the month.
 Stocks endured heavy selling in most of the sessions this week, as sharp drops in emerging-markets currencies prompted nervous investors to flee riskier assets including stocks and lock in profits from a spectacular year.  

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Epic Research Singapore : Twitter Update

Not only will Dow components Walt Disney Co. DIS -0.83%  and Merck & Co. MRK -1.01%  report quarterly results on Wednesday, but Twitter Inc. TWTR +1.62%  will post its first earnings report since going public late last year. Shares of Twitter finished the week higher, caught in the updraft of Facebook Inc.’s FB +2.44%  strong results.  

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Epic Research Singapore : Comex Market Update

Oil futures fell on Friday and suffered a loss for the month as a recent selloff in emerging markets and weakness in U.S. equities raised worries about the prospects for energy demand. Natural-gas futures also fell for the session, but scored a hefty gain for the month as severe cold spiked demand for the heating fuel. March crude CLH4 -0.84% settled at $97.49 a barrel on the New York Mercantile Exchange, down 74 cents, or 0.8% for the day. It gained 0.9% for the week but lost roughly 0.9% for the month. March natural gas fell 7 cents, or 1.4%, to settle at $4.94 per million British thermal units. It fell 1.1% for the week and rallied about 18% for the month.  

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Epic Research Singapore : Forex Market Update

The Australian dollar AUDUSD -0.44% declined 0.6% against the greenback, buying 87.49 compared with 87.88 cents late Thursday. On the radar for the Aussie is China’s official manufacturing-sector report for January, due over the weekend. This week, HSBC’s final version of the China manufacturing Purchasing Managers’ Index confirmed a contraction for the sector.  

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Epic Research Singapore : Forex Market Update

But economic data in developed economies managed to differentiate between the currencies typically seen as havens. An unexpected drop in euro-zone inflation helped push the euro EURUSD -0.50% down 0.5% to $1.3489 from $1.3556. The British pound GBPUSD -0.27%  also eased 0.3% to $1.6443 from $1.6488.  

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Epic Research Singapore : Google Market Update

Namely, its Class A common shares GOOG -0.07%  , which are traded publicly every day.
Remember when Apple’s AAPL +0.08%  market cap was more than $600 billion, and bulls said it was going to $1 trillion? It’s now at $450 billion. 
 
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Epic Research Singapore : U.S Market Update

The S&P 500 index SPX -0.65%  is barely hanging on to positive territory for the week, and looking at a close-to-3% drop for the month.  
The losses for stock futures come a day after Wall Street indexes recouped nearly all the territory lost since the start of the week. The Nasdaq Composite COMP -0.47%  nailed its best gain since Oct. 10 on Thursday, boosted by upbeat earnings from Facebook Inc. FB +0.34% . 

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Epic Research Singapore : U.S Market Update

Extending earlier losses, futures for the Dow Jones Industrial Average DJH4 -0.93%  fell 160 points, or 1%, to 15,574, while futures for the Standard & Poor’s 500 index SPH4 -0.24%  dropped 17 points, or 1%, to 1,764.20. Strategists have been focusing on the 1,770 level as key support for that index. Futures for the Nasdaq-100 index NDH4 -0.36%  fell 15.5 points, or 0.4%, to 3,486.50.  

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Epic Research Singapore : U.S Market Update

Futures for the Dow Jones Industrial Average DJH4 -0.14%  rose 58 points to 15,755, while the Standard & Poor’s 500 index SPH4 -0.14%  rose 7.6 points to 1,778.80. Futures for the Nasdaq-100 index NDH4 +0.50%  rose 21.25 points, or 0.6% to 3,495.25.  

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Epic Research Singapore : Comex Market Update

Gold futures dropped on Thursday, with a climb in U.S. equities and strength in the dollar dulling investment demand for the metal. April gold GCJ4 +0.06% shed $19.70, or 1.6%, to settle at $1,242.50 an ounce on the Comex division of the New York Mercantile Exchange. The continued march forward by the Fed with its tapering program caught a few people offguard on Wednesday, though it shouldn't have, given the strong economic growth the U.S. is enjoying, said Richard Gotterer, managing director at Wescott Financial Advisory. This, along with dollar strength and a rebound in equity prices took "a little bit of the shine off of gold for today."  

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