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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Oil falls near US$47 a barrel as US crude rig count unchanged

Oil fell near US$47 a barrel as the number of US rigs drilling for oil remained unchanged and Royal Dutch Shell Plc said production isn't affected by storm preparations in the Gulf of Mexico.

Futures in New York dropped as much as 1.2 per cent after advancing 1.9 per cent over the previous two sessions on speculation informal Opec talks next month could result in some kind of output freeze.

A tropical depression near Florida, forecast to become a storm on Monday, is expected to move into the Gulf of Mexico, according to the National Hurricane Center.

West Texas Intermediate for October delivery fell as much as 59 US cents to US$47.05 a barrel on the New York Mercantile Exchange and traded at US$47.09 a barrel at 8 am Tokyo time.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 holds losses near one-week low after surprise stockpile gain

Oil held losses near the lowest close in a week as US crude stockpiles unexpectedly increased, keeping supplies at the highest in at least three decades with the peak summer demand period approaching its end.

Futures were little changed in New York after falling 2.8 per cent Wednesday. Inventories rose by 2.5 million barrels last week, according to the Energy Information Administration.

The median forecast in a Bloomberg survey had projected a decline. Iraq will attend informal Opec talks next month in Algiers, Deputy Oil Minister Fayyad Al-Nima said in a phone interview.

Oil entered a bull market on Aug 18, less than three weeks after tumbling into a bear market. Prices surged partly on speculation that informal discussions among members of the Organisation of Petroleum Exporting Countries and other producers may lead to action to stabilise the market.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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Stocks Edge Higher After Fed Minutes

U.S. stocks rose slightly after minutes from the Federal Reserve’s July meeting shed little light on when the central bank might next raise interest rates.

The minutes showed Fed officials are seeking to keep their options open, with some of them wanting a rate increase but others pushing for more information.

The Dow Jones Industrial Average rose 21.92 points, or 0.1%, to 18573.94, reversing earlier losses. The S&P 500 added 4.07 points, or 0.2%, to 2182.22 and the Nasdaq Composite rose 1.55 points, or less than 0.1%, to 5228.66.

All three indexes are hovering near records, confounding some traders and analysts.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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ETF Holdings on SGX rose 18% in the last six months

ETF holdings on SGX rose US$507 million, or 18%, in the six months ended 31 July 2016. Sixty-four of the 78 ETFs listed on SGX registered an increase in assets under management (AUM). The biggest increases in AUM were seen in ABF Singapore Bond Fund, SPDR® Gold Shares ETF, SPDR® Straits Times Index ETF, iShares MSCI India ETF and Nikko AM Singapore STI ETF. Singapore’s five most active ETFs in the month of July were: SPDR® Gold Shares ETF, iShares MSCI India Index ETF, SPDR® Straits Times Index ETF, db x-trackers MSCI AC Asia Ex Japan Index UCITS ETF, and db x-trackers MSCI Indonesia Index UCITS ETF. These five ETFs offer exposure to a wide range of markets and span two asset classes. These five most active ETFs averaged a total return of 4.8% for the month of July and 9.4% for the year-to-date.

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Epic Research Singapore : Microsoft News Update

Microsoft Corp. MSFT +0.61% will cut the price of Windows 8.1 by 70% for lower-priced computer and tablet makers, Bloomberg reported on Saturday, citing sources. In a bid to compete with cheaper rivals like Google Inc.'s GOOG -0.03% Chromebooks, manufacturers will pay $15 to license Windows 8.1 and preinstall on devices that sell for under $250, which is cheaper than the normal fee of $50, those sources said. Any product that meets the price limit will get the discount. Julia Kelly-Echeverio, a spokeswoman for Microsoft, declined to comment on the report to Bloomberg. 

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Epic Research Singapore : Facebook News Update

Investors and pundits from Wall Street to Silicon Valley were stunned on Wednesday afternoon after Facebook said it was paying a total of $16 billion in combined cash and stock for WhatsApp, an Internet-based mobile texting app that circumvents the SMS messaging services operated by the telcos and has more than 450 million users around the world.
Facebook FB -2.69% investors initially were not pleased at the staggering valuation the social media giant is paying for the Mountain View, Calif.-based company, which basically values each WhatsApp user at about $42 a customer. The deal also includes an additional $3 billion in restricted stock for the company’s employees, bringing the total value to as much as $19 billion. After first tumbling more than 5%, Facebook’s  shares recovered slightly and were off about 3% in after-hours trading.
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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 : Forex Market Update

Its economy and financial system is now reliant on the fickle and potentially destabilizing short-term foreign capital its closed financial system was designed to guard against. This is hard to quantify but claims Hong Kong banks have on mainland counterparts give an approximation of the size of these yield-seeking structured products. As of October, those claims were a record HK$2.3 trillion ($295 billion), up 53% since the end of 2012.

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Epic Research Singapore : Forex Market Update

U.S. stocks on Tuesday recovered from prior-day losses — the S&P 500 SPX +0.76% and Dow Jones Industrial Average DJIA +0.47%  closed Monday with the biggest drops since June 20 — and Treasurys fell.

The dollar USDJPY -0.24%  rose to ¥101.67 from ¥100.92 late Monday. The dollar fell below the ¥101 level in the prior session after data showed the U.S. manufacturing sector expanded at a sharply slower pace in January than expected, with manufacturers blaming unusually cold weather conditions for the decline. 
 
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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 : SGX Market Update

According to a report by Bloomberg, ASX Ltd. (ASX) will hire staff for a new office in Singapore this year as Australia’s main exchange operator seeks to do more business with Asian hedge funds and proprietary traders.
“It will be a meaningful presence,” Peter Hiom, Sydney-based deputy chief executive officer at ASX, said in an interview Jan. 31, adding that the Singapore office will focus on derivatives products. “There’s an untapped opportunity for us in Southeast Asia.”
 
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Epic Research Singapore : Comex Market Update

Gold for April delivery GCJ4 +0.24%  fell $2.70, or 0.2%, to settle at $1,239.80 an ounce on the Comex division of the New York Mercantile Exchange Friday.  
Gold futures gained roughly 3.1% since the end of December, based on most-active contracts tracked by FactSet. They lost around 1.9% for the week. 

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Epic Research Singapore : Microsoft Inc.

Microsoft Inc. MSFT +0.79%  shares rose 1.1% to $37.25 following a report that Satya Nadella, the company’s enterprise and cloud chief, will be named as chief executive.  
 Yahoo Inc. YHOO -0.09%  shares were off by 0.9% at $34.98 after the search company took to its Tumblr blog to announce that hackers had tried to break into an undisclosed number of email accounts through a coordinated effort. 

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Epic Research : Amazon Update

Shares of Amazon AMZN -4.47%  — at one point in the after-hours session down as 12% — declined 4.7% at $389 on heavy volume. The company reported fourth-quarter earnings of 51 cents a share on revenue of $25.59 billion. Analysts polled by FactSet expected 74 cents a share on revenue of $26.05 billion.  

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Epic Research Singapore : Forex Market Update

The dollar USDJPY +0.24%  fell to ¥102.19 from ¥103.33 level late Tuesday. The yen is likely to strengthen against the dollar as turmoil in emerging markets continues, according to a note from Bank of America Merrill Lynch. 

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Epic Research Singapore : U.S Market Update

Wall Street finished Tuesday’s session with the best gains in two weeks. The S&P 500 closed up 0.6% to 1,792.50, and the Dow industrials DJIA -1.19%  ended the session up 0.5% to 15,928.56, breaking a five-day skid. Turkey is the tree — U.S. growth slowing is the new forest. New-home sales and new orders were nasty slowdowns,” said McCullough.

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Epic Research Singapore : U.S Market Update

After a gain of some 83 points futures for the Dow industrials DJH4 +0.19%  were down 127 points at 15,749. Those for the S&P 500 index SPH4 +0.25%  lost 14 points to 1,774.30, while futures for the Nasdaq-100 index NDH4 +0.30%  fell 29.75 points to 3,471.25.

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Epic Research Singapore : Hang Seng Index

The Hang Seng Index HK:HSI +0.95% tacked on 0.9% to 22,156.15. Chinese PC maker Lenovo HK:992 +4.96% LNVGF +6.31% climbed 4.2%, after the company said that it would reorganize itself into four business groups and diversify its business. Software developer Kingsoft Corp. HK:3888 +2.83% KSFTF +0.30% jumped 4.7%, as the company said it plans to spin off its information-security software business for listing on the Nasdaq or the New York Stock Exchange. Other tech stocks also pushed higher, as Tencent Holdings Ltd. HK:700 +4.57% TCTZF +4.69% rose 4.6%, and online game developer NetDragon Websoft HK:777 +1.52% gained 2%.
 
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Epic Research Singapore : Comex Market Update

Gold for February delivery GCG4 +0.21%  in electronic trade was up $2.80, or 0.2%, to $1,252.80 an ounce. March silver SIH4 +0.42%  added 6 cents, or 0.3%, to $19.56 an ounce. A day earlier, gold futures made it two sessions in a row in the red, as improving consumer confidence helped boost equities.  

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