Singaporeshares close lower on Thursday as oil and gas stocks tumble

THE Singapore market fell 0.78 per cent on Thursday, with the Straits Times Index dropping 22.87 points to 2,918.62 as investors sold down oil and gas counters.

About 1.25 billion shares worth S$878 million in total changed hands, which worked out to an average unit price of S$0.70 per share.

Losers outnumbered gainers 246 to 163, or about three down for every two up.

News of Swiber Holdings' winding-up application on Thursday took the market by surprise, and continued to dog the already-beleaguered oil and gas sector throughout the trading session.


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Epic Research Singapore : U.S Market Update

Futures for the Dow Jones Industrial Average DJH4 +0.09%  were last up 27 points, or 0.2%, at 15,396, while those for the S&P 500 index SPH4 +0.03%  had gained 2.3 points, or 0.3%, to 1,746.60. Futures for the Nasdaq-100 index NDH4 +0.36%  were up 9.25 points, or 0.3%, at 3,455.

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Epic Research : SGX Update

SGX CNX Nifty Index futures for February delivery declined 0.5 percent to 6,075.5 at 11:01 a.m. in Singapore. The underlying CNX Nifty Index on the National Stock Exchange of India Ltd. rose 0.3 percent to 6,089.50 on Jan. 31. The S&P BSE Sensex (SENSEX) gained 0.1 percent to 20,513.85, snapping five days of losses. The Bank of New York Mellon India ADR Index of U.S.- traded shares lost 0.9 percent.
 
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Epic Research Singapore : Nikkei Stock

The Nikkei Stock average lost 2.0% to end at 14619.13. That's well down from final day of 2013 trading, when the index hit a six-and-a-half year peak.

Japan share trading action typically reflects both the dollar and prior Wall Street indexes, and so Friday's U.S. share selloff following poor earnings reports from Amazon.com AMZN -11.00% and Chevron CVX -4.14% —combined with a selloff in the dollar—hurt the market, say traders.

As of the close of trading on the Tokyo Stock Exchange, the dollar was changing hands at ¥102.16.  

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Epic Research Singapore : U.S Market Update

Japan share trading typically reflects both the dollar and prior Wall Street indexes, and so Friday’s U.S. share selloff following poor earnings reports from Amazon.com and Chevron--combined with a selloff in the dollar--hurt the market.

The dollar fell under the ¥102 level, but has since rebounded somewhat to the ¥102.30 mark.  

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Epic Research Singapore : Comex Market Update

Crude oil for March delivery CLH4 -0.35% fell 21 cents, or 0.2%, to $97.28 a barrel, extending a 0.8% retreat Friday on the New York Mercantile Exchange. Brent crude for March UK:LCOH4 -0.08% , however, was little changed, adding 2 cents to trade at $106.42 a barrel. March natural gas NGH14 -2.39% extended its sharp downward trend, losing 11 cents, or 2.3%, to $4.83 per million British thermal units, with the loss coming on top of a 1.4% drop Friday.  

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Epic Research Singapore : Forex Market Update

Dollar strength was visible in most major crosses, with the euro EURUSD -0.03%  dropping to $1.3556 from $1.3662 late Wednesday in North America. The pound GBPUSD -0.05%  also fell to $1.6488 from $1.6561 late Wednesday.

The dollar USDJPY -0.27%  rose to ¥102.72 from ¥102.19 late Wednesday.

The New Zealand dollar NZDUSD -0.38%  fell to 81.57 U.S. cents from 82.15 U.S. cents late Wednesday. New Zealand’s central bank on Wednesday left rates on hold.

The Australian dollar AUDUSD -0.34% rose to 87.88 cents from 87.41 U.S. cents late Wednesday.  



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Epic Research Singapore : Facebook Market Update

Those issues will still be in the spotlight when Facebook FB +12.09%  reports results after the market closes on Wednesday, though investors will likely also focus on the bright side, led by the expected gains from video ads and Instagram.

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Epic Research Singapore : Yahoo Market Update

Shares of Yahoo YHOO +0.03% fell more than 4% in premarket after its results disappointed late Tuesday, prompting concerns that Chief Executive Officer Marissa Mayer still doesn’t have a grip on turning around the Internet services company. 

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Epic Research Singapore : Comex Market Update

Elsewhere in metals trading, platinum for April delivery PLJ4 +0.18%  rose $2.70, or 0.2%, to $1,412.10 an ounce, while March palladium PAH4 +0.06%  was up 40 cents, or 0.1%, at $716.90 an ounce. High-grade copper for March delivery HGH4 +0.31%  added a penny to $3.26 a pound.  



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Epic Research Singapore : Comex Market Update

Natural-gas futures on Tuesday recouped much of what they lost a day earlier, as severe cold weather and expectations for more ahead raised concerns over U.S. supplies of the heating fuel. Oil futures, meanwhile, rallied too ahead of the week's updates on U.S. petroleum supplies. February natural gas NGG14 -1.53% added 19 cents, or 3.8%, to settle at $5.03 per million British thermal units after losing 6.5% on Monday. March crude CLH4 -0.11% finished up $1.69, or 1.8%, at $97.41 a barrel.
 
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Epic Research Singapore : Comex Market Update

Crude futures on the New York Mercantile Exchange also gained, outperforming the rise in Brent crude as traders waited for weekly petroleum-supply data that is expected to show a steep drawdown in distillate inventories.  
 As of the week ended Jan. 17, working gas in storage totalled 2.423 trillion cubic feet, according to the U.S. Energy Information Administration, down about 13% from the five-year average. 

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Epic Research Singapore : Comex Market Update

February natural gas NGG14 -1.15%  advanced 19 cents, or 3.8%, to settle at $5.03 per million British thermal units on Nymex. The contract expires at the close of Nymex trading on Wednesday. March natural gas NGH14 -0.97% , which will become the front month, added 27 cents, or 5.7%, to $4.94 per million British thermal units.  

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Epic Research Singapore : U.S Market Update

Futures for the Nasdaq-100 index NDH4 +0.49%  fell 14.25 points, or 0.3%, to 3,488.75, while the Dow industrials futures DJH4 +0.41%  were up 46 points, or 0.3%, to 15,833. Futures for the S&P 500 index SPH4 +0.49%  were up 3.4 points, or 0.2% to 1,779.10.  

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Epic Research Singapore : Comex Market Update

February natural gas NGG14 +1.75%  lost 33.5 cents, or 6.5%, to settle at $4.847 per million British thermal units on the New York Mercantile Exchange, after earlier spiking past $5.40 in electronic trading. That price marked the highest level since February 2010, according to FactSet data tracking the closing levels for most-active contracts. On Friday, prices settled at their highest since June 2010.

March natural gas NGH14 +1.61% , which is among the most-active contracts, closed down 32 cents, or 6.5%, at $4.674 per million Btus.  

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Epic Research Singapore : Forex Market Update

The British pound GBPUSD +0.20%  rose to $1.6606 from $1.6580 late Monday in North America.  
 In other action among currency majors, the dollar USDJPY +0.09%  rose to 102.68 Japanese yen from ¥102.58 late Monday in North America. The euro EURUSD +0.10%  , meanwhile, edged up to $1.3679 from 

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Epic Research Singapore : Hang Market Update

Hong Kong’s Hang Seng Index was down less than 0.1%, and Singapore’s Straits Times Index was also down less than 0.1%.

Global markets have been under pressure since last Thursday, when data pointed to a contraction in China’s manufacturing sector. This started selling in many emerging markets, with countries such as Turkey and Argentina in focus, which then spread to developed markets like the U.S. and Japan.  

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Epic Research Singapore : U.S Market Update

The S&P 500’s SPX -0.49%   biggest company AAPL -8.08%   is generating buzz among value investors, especially after the brutal reaction to Monday’s earnings report.

Apple shares were down 7.5% to $505.89 after-hours, denting Nasdaq 100 futures, and sending ETFs that contained a big chunk of Apple — including the Technology Select Sector SPDR XLK -0.86%  — down 1%.  

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Epic Research Singapore : S&P Market Update

Investors were unsure about how Monday’s session will go. On Friday, the Dow Jones Industrial Average DJIA -0.26%  lost 2%, or 318 points, in its worst one-day percentage fall since June 20. For the week, a 3.5% loss marked the worst decline since Nov. 25, 2011. The S&P 500 index SPX -0.49%  shed 2.6% on the week, and the Nasdaq Composite Index COMP -1.08% dropped 1.7%.  

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Epic Research Singapore : U.S Market Update

Extending earlier gains, futures for the Dow Jones Industrial Average DJH4 +0.35%  rose 49 points, or 0.3%, to 15,865, while those for the S&P 500 index SPX -0.49%  rose 6.9 points to 1,789. Futures for the Nasdaq-100 index NDH4 -0.66%  gained 5.75 points to 3,538.  

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