Epic Research Singapore : U.S Market Update

Wall Street finished a volatile session lower on Monday. The S&P 500 SPX +0.61%  ended down 8.73 points, or 0.5%, to 1,781.56 in late trade as downbeat home-sales data weighed on investors, after briefly venturing into positive territory. The Nasdaq Composite COMP +0.35%  was the worst-performing index on Monday.  

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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 : 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 : Asian Market Update

The Asian markets are tumbling on concerns that a reduction in the U.S. central bank’s stimulus efforts may trigger capital outflows. Amid a sell-off in emerging market assets, investors are seeking safety in U.S. Treasuries, the Japanese yen and gold. Gold rallied to a two-month high, extending its longest run of weekly gains since September 2012, while the yen climbed to a seven-week high against the dollar.

China’s Shanghai Composite is down 0.9 percent, Hong Kong’s Hang Seng is losing 2.1 percent, Indonesia’s Jakarta Composite index is tumbling 2.7 percent, Japan’s Nikkei index is declining 2.5 percent and South Korea’s Kospi is down 1.7 percent. The Australian market is closed for a public holiday.
 
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Epic Research Singapore : Google Market Update

Google Inc. GOOG -3.13% has acquired artificial-intelligence firm DeepMind Technologies Ltd., reports said Monday, with a Recode report citing a price of $400 million for the London-based start-up. The company was founded in 2012 and employs learning algorithms for use in simulations, e-commerce and games, Reuters said.  

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Epic Research Singapore : SGX Market Update

Singapore Exchange (SGX) will introduce the so-called circuit breakers, so as to protect investors from the fluctuating stock market.

The circuit breakers will come into effect from 24 February, and is applicable to Straits Times Index (FSSTI), MSCI Singapore Index members and all securities priced from 50 Singapore cents. The circuit breakers will be triggered when a stock edges up or down by more than 10% from at least five minutes earlier, resulting in a five-minute period where trading will be restricted.
 
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Epic Research Singapore : Nikkei Stock

The Nikkei Stock Average JP:NIK -2.55% fell 2.5% to 15,007.72, and the broader Topix dropped 2.5% to 1,233.55. Stocks also came under pressure as the U.S. dollar briefly dipped below the 102-yen level ahead of the start of equity trading on Monday. Stock losses were broad-based, with industrial major Komatsu Ltd. JP:6301 -3.74% KMTUF +3.24% lower by 3.4%, Sony Corp. JP:6758 -2.84% SNE -0.42% down 3.2%, and Japan Airlines Co. JP:9201 -3.25% off 2.3%. Japanese companies are slated to begin rolling out quarterly results this week. 

A Nikkei newspaper report Monday said a weaker yen will be one of the factors to contribute to record operating profits at Subaru-brand vehicle maker Fuji Heavy Industries Ltd. JP:7270 -2.41% FUJHF -0.71% , Hino Motors Ltd. JP:7205 -4.87% HINOY -0.95% and Isuzu Motors Ltd. JP:7202 -2.40% ISUZF +0.83% for the nine months ended Dec. 31. But shares of the auto makers were caught up in the selloff, with Hino losing 4.2%, Fuji Heavy giving up 3% and Isuzu shedding 1.4%.  

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Epic Research Singapore : Comex Market Update

Gold for February delivery GCG4 +0.59%   jumped another $9.50, or 0.8%, to $1,273.80 an ounce. Prices ended Friday with a 1% rally for the week, closing at their highest level since Nov. 19. Over the past five weeks, gold has managed to tack on 5%.

March silver SIH4 +0.78%  also got into the act, rising 17 cents, or 0.8%, to $19.93 an ounce. 

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Epic Research Singapore : STI Update

THE Straits Times Index (STI) ended the day’s trade 0.78 per cent lower at 3075.99 points yesterday.

The FTSE ST Mid Cap Index fell 0.67 per cent while the FTSE ST Small Cap Index lost 0.27 per cent.

Of the actives, DBS declined 1.01 per cent and Keppel Corp retreated by 1.84 per cent.

OCBC lost 0.73 per cent and CapitaLand depreciated by 1.39 per cent.

The outperforming sector, FTSE ST Telecommunications advanced 0.49 per cent. Of its two biggest stocks, SingTel gained 0.57 per cent and StarHub appreciated by 0.24 per cent.
 
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Epic Research Singapore : U.S Market Update

The Dow Jones Industrial Average DJIA -1.97% , which was down 267 points, or 1.7%, in recent activity, was on track to lose 3.3% for the week, its worst percentage weekly loss since the week ended May 18, 2012. The S&P 500 Index SPX -2.09% fell 33 points, or 1.8%, on the day, and was down 2.4% for the week. For the week, the VIX was up 41%, its largest weekly gain since the week ending July 29, 2011.  

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Epic Research Singapore : Comex Market Update

Gold for February delivery GCG4 +0.51%  rose $2, or 0.2%, to settle at $1,264.30 an ounce on the Comex division of the New York Mercantile Exchange. Prices finished well below the day’s high of $1,273.20, but the settlement was still the highest since Nov. 19, according to FactSet data tracking the most-active contracts.  

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Epic Research Singapore : Twitter Market Update

Shares of Internet-related stocks were all suffering losses in premarket trading, with Twitter Inc. TWTR -0.71%  , Yahoo Inc. YHOO -0.03%  and Facebook Inc. FB -0.66%  all sagging.

Shares of Microsoft MSFT -0.18% MSFT -0.18% bucked a weaker tech tone, up 3.2% in premarket after the company beat Wall Street estimates with fourth-quarter results.  

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Epic Research Singapore : Apple Market Update

Weighing on techs, shares of Apple Inc. AAPL +0.21%  were pointing lower in thin premarket trade. Rival Samsung Electronics Co. KR:005930 +0.62%  forecast a weak first half after fourth-quarter earnings showed a sharp slowdown in growth. See Will Samsung outlook spook or rally Apple investors?  

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Epic Research Singapore : U.S Market Update

Recouping some of the earlier losses, futures for the Dow Jones Industrial Average DJH4 -2.11%  were down 71 points, or 0.5%, to 16,080, while those for the Standard & Poor’s 500 index SPH4 -2.41%  were 8.6 points, or 0.5%, lower to 1,815.50. Futures for the Nasdaq-100 index NDH4 -2.36%  lost 15.25 points, or 0.4%, to 3,598.50.  

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Epic Research Singapore : Forex Market Update

 The British pound GBPUSD -0.03%  , however, was little changed at $1.6635, after breaking above the $1.66 level for the first time since May 2011.

But the Australian dollar AUDUSD -0.68% couldn’t shake off its 1.1% fall on Thursday, sitting unchanged at 87.64 U.S. cents. The Australian dollar was hit following the data from China, which is Australia’s largest export market.  
The euro EURUSD -0.08%  gave up some ground Friday, fetching $1.3682 compared with $1.3691, while the Swiss franc USDCHF +0.10%  eased as the dollar won back some of its prior-session decline to buy 0.8998 franc versus 0.89761 franc.

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Epic Research Singapore : S&P Market Update

The S&P 500 SPX -0.89%  fell 16.40 points, or 0.9%, to 1,828.46, breaking a two-day winning streak. Losses were led by financials and materials sectors. Only telecoms, a sector whose stocks are known for their dividend yields, ended higher. The benchmark index is down 1.1% year-to-date.  
 The Dow Jones Industrial Average DJIA -1.08%  fell to a five-week low, shedding 175.99 points, or 1.1%, to 16,197.35. The blue-chip index recorded its third straight session of losses. 

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Epic Research Singapore : Microsoft Update

Shares of Microsoft rose 4% to $37.51 on very heavy volume after the company reported adjusted fiscal second-quarter earnings of 78 cents a share on revenue of $24.52 billion, while analysts surveyed by FactSet expected 68 cents a share on revenue of $23.66 billion.   Investors keen to hear whether Microsoft has made progress in naming a successor to Chief Executive Steve Ballmer were disappointed. Analysts on the company’s conference call didn’t ask anything about Ballmer’s replacement. Read our live blog of the call. 


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Epic Research Singapore : U.S Market Update

Futures for the Dow Jones Industrial Average DJH4 +0.06%  fell 103 points, or 0.6%, to 16,214, while those for the S&P 500 SPH4 +0.11%  dropped 9.4 points, or 0.5%, to 1,829.20. Futures for the Nasdaq 100 NDH4 +0.15%  were down 13 points, or 0.4%, at 3,607.50.  

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Epic Research Singapore : SGX Market Update

SINGAPORE: The Singapore Exchange (SGX) posted a two per cent on-year drop in its second quarter net profit at S$ 75 million, a shade lower than market expectations.

At an earnings briefing, SGX said the securities market had a challenging quarter due to lower participation by both retail and institutional investors.

Revenue from the securities business fell 13 per cent to S$ 52.2 million for the quarter ended 31 December 2013.

The decline was offset by growth in the derivatives business which rose 16 per cent to S$ 52.5 million.

The securities and derivatives businesses each contributed to 32 per cent of total revenue — the first quarter that they came in on par.

SGX said the total traded value for securities was 18 per cent lower at S$ 64.1 billion. Meanwhile, the total volumes for derivatives grew 18 per cent to 26.3 million contracts.)

Total revenue for the second quarter was up two per cent on-year at about S$ 165 million.

SGX CEO Magnus Bocker added that the Catalist market has also performed well.

“You will see that the traded value on our mainboard was down 22 per cent compare to the average of 18 per cent, while the Catalist market was actually up 141 per cent. Catalist now represents eight per cent of our total market compare to 2.5 per cent a year ago,” he said.

“If you look at the velocity, that is to say the market cap versus the turnover for our Catalist companies, it is significantly higher than the turnover velocity for our mainboard listed companies so it is a very attractive platform.
 
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