Stocks to watch: TEE, Keppel, Marco Polo Marine

THE following listed companies made material announcements before the opening of the Singapore market on Thursday:

TEE International, together with its subsidiaries and associated companies, was awarded new engineering contracts worth about S$95 million from August to September 2016, bringing the group's total outstanding order book to about S$324 million.

Keppel Corp's property arm, Keppel Land, on Wednesday said that it has signed a conditional joint venture agreement with Myanmar conglomerate Shwe Taung Group to develop premium serviced residences and offices in the next phase of Junction City.

Marco Polo Marine on Wednesday said that it has appointed KPMG Services as adviser to the group to conduct an independent review, in view of the upcoming maturity date of its notes on Oct 18.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 up, aided by solid GDP data; NZ hits a record

Australian shares rose on Wednesday, tracking Wall Street, while data at home showing the economy last quarter expanded at its fastest annual pace in four years helped buoy sentiment.

The S&P/ASX 200 index was 10.8 points, or 0.2 per cent, higher at 5,424.4 at 0307 GMT.

The benchmark gained as much as 0.5 per cent after the Australian Bureau of Statistics reported gross domestic product (GDP) in April-June rose 3.3 per cent from a year earlier, just short of market forecasts but up from around 2.9 per cent in the previous quarter.

On Tuesday, the benchmark lost 0.3 per cent after the country's central bank held interest rates at a record low as expected, but provided no clues for future easing.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 hit 1-year high as soft US data quells Fed hike talk

The US dollar took a tumble and Asian stocks rose to one-year highs on Wednesday after surprisingly weak US services sector activity put paid to already slim chances of an interest rate hike by the Federal Reserve as early as this month.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent, extending its chunky gains of 2.7 per cent over the last two days, to claim a level last seen in July last year.

"When people think there's no immediate rate hike from the Fed, then Asia and emerging markets are the place to go to, as investors seek yields," said Toru Nishihama, senior economist at Dai-ichi Life Research.

Japan's Nikkei slid 0.7 per cent, however, as the yen gained sharply versus the US dollar, putting more pressure on exporters in the world's third-largest economy.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 rally continues as Brent tops US$50 a barrel

Oil prices continued to rally on Thursday with Brent oil topping US$50 a barrel following data showing lower US crude stockpiles.

Brent North Sea crude for delivery in October rose US$1.04 to US$50.89 a barrel in London, its first close above US$50 in nearly two months.

US benchmark West Texas Intermediate for September delivery gained US$1.43 to US$48.22 a barrel on the New York Mercantile Exchange.

Thursday's gains continued the upward trend in place for most of August, due in part to talk from Saudi Arabia and other producers that major oil exporters could agree to cap output next month.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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Gold holds biggest jump since Brexit vote on lower Fed rate bets

Gold held the biggest daily increase since June and traded near the highest in almost three weeks as the dollar weakened amid diminishing bets on an interest-rate rise in September.

Bullion for immediate delivery traded at US$1,349.16 an ounce at 9:37am in Singapore, after surging 1.7 per cent on Tuesday, the most since the results of the Brexit vote came out on June 24, according to Bloomberg generic pricing.

The metal resumed its rally this year on reduced chances of the Federal Reserve tightening monetary policy this month after the Institute for Supply Management's index of US non-manufacturing industries slumped to its lowest level since Feb 2010.

A gauge of the greenback traded at the lowest level this month. The Federal Open Market Committee meets on Sept 20-21.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 rises to 3-week high, stocks firm on weak US data

The South Korean won jumped to a three-week high early on Wednesday as downbeat economic data from the world's biggest economy dented already-low chances of the Federal Reserve raising interest rates as early as this month.

The won stood at 1,094.6 as of 0214 GMT, its highest since Aug 16, and up one per cent compared to Tuesday's close at 1,105.2.

The US dollar slumped after a survey showed US services sector activity slowed to a 6-1/2-year low in August amid sharp drops in production and orders, pointing to slowing economic growth.

"All the economic data from the US that came out in September were below expectations. The won will stay strong against the dollar even if Federal Reserve officials keep their hawkish stance," said Park Sung Woo, a foreign exchange analyst at NH 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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Hong Kong, Shanghai: Stocks flat in opening trade

Hong Kong stocks opened flat Wednesday as investors took a breather after four days of gains while a surprisingly weak reading on the US services sector further doused expectations for an interest rate hike.

The Hang Seng Index edged up 10.07 points to 23,797.75.

The benchmark Shanghai Composite Index was also barely moved, ticking up 0.62 points to 3,091.33, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, inched down 0.01 points to 2,048.18.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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