Seoul: Stocks, won slump on edginess over possible Fed rate hike

South Korean shares and the won sagged early on Monday on increased worries the Federal Reserve will hike US rates in September.

The Korea Composite Stock Price Index (Kospi) was down 0.5 per cent at 2,046.04 points as of 0212 GMT.

The won was quoted at 1,124.1, down 0.6 per cent compared with the previous close of 1,117.6. It touched 1,126.5, the weakest level since July 28.

Concerns about the Fed have increased ahead of its annual retreat in Jackson Hole, Wyoming, which begins on Thursday.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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Singaporesharesopen 0.43% higher on Friday

SINGAPORE share prices opened higher on Friday, with the Straits Times Index up 12.22 points or 0.43 per cent to 2,882.04 as at 9.01am, after Wall Street hit record highs overnight.

Top gainers in early-morning trade included #Jardine Cycle & Carriage, #Pan Ocean and Singapore O&G.

A total of 63.9 million shares worth S$58.7 million changed hands. Gainers outnumbered losers 101 to 39.
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Singapore shares close lower on weak Wall Street, soft oil and Swiber's woes

THE global post-Brexit rally appears to be fast running out of puff - on Tuesday, the Dow Jones Industrial Average which set several all-time highs last month, fell for the seventh consecutive session, no doubt a factor behind the Straits Times Index's (STI) 29.09 points loss on Wednesday at 2,827.58.
From June 27, two trading days after Britain voted to leave the European Union, the STI had jumped from 2,729 to 2,945 on July 20, a gain of 216 points or almost 8 per cent in less than a month.

That rally has widely been attributed to faith in the Bank of England and Bank of Japan providing liquidity support for their economies via their markets, and on the US Federal Reserve delaying raising US interest rates.

Since then, a combination of weak oil, a loss of confidence in the potency of central bank action and locally, the shock bankruptcy of offshore and marine (O&M) company Swiber Holdings have taken 118 points or 4 per cent off the index, dragging it 1.9 per cent into the red for the year so far.Also contributing to Wednesday's softness was a steep slide in Hong Kong where the market played catch-up after being closed on Tuesday because of a typhoon, and a weak day for the Dow futures that raised the possibility that the US benchmark could fall for an eighth straight day on Wednesday.

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Oil futures end sharply lower on glut concerns

Oil futures fell sharply Monday, hit by concerns over a global supply glut. September West Texas Intermediate crude dropped $1.54, or 3.7%, to end at $40.06 a barrel. The U.S. benchmark traded below $40 for the first time since April, notching a session low of $39.82. Concerns about production by members of the Organization of the Petroleum Exporting Countries, a rise in U.S. rig counts and large gasoline stockpiles contributed to the weakness, analysts said.

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Dow, S&P 500 close lower as oil prices drop

The Dow Jones Industrial Average and S&P 500 Index closed lower Monday as oil prices slipped, while the Nasdaq Composite Index finished at its highest level in more than a year. The Dow industrials closed down 27.73 points, or 0.2%, at 18,404.51, weighed by more than 3% drops in shares of Exxon Mobil Corp. and Chevron Corp. The S&P 500 declined 2.76 points, or 0.1%, at 2,170.84, as the energy sector dropped 3.3%. Oil prices settled down 3.7% at $40.06 a barrel. The Nasdaq rose 22.06 points, or 0.4%, to close at 5,184.20, its highest close since July 21, 2015.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter :http://www.twitter.com/epicresearchsg Like Us On Facebook :http://www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Stocks to watch: A-Reit, OUE H-T, OKP, China Star

AFTER oil weakness led a Wall Street retreat overnight, trading here is expected to stay muted, except for certain rotational plays.

Counters that may see some active trade on Tuesday morning include Ascendas Real Estate Investment Trust (A-Reit), OUE Hospitality Trust (OUE H-T), OKP and China Star Food Group.

Ascendas Real Estate Investment Trust: A-Reit said on Tuesday morning that its private placement of 64 million new units was over six times covered and priced at the top end of the price range at S$2.417 per new unit. This represents a 3.3 per cent discount to the volume weighted average price (VWAP) for trades done on Monday.

The private placement drew strong demand from new and existing institutional, accredited and other investors mainly from Asia and the United States, A-Reit added.
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SINGAPORE MARKET CLOSING UPDATE OF 27th JULY'2016

Singaporeshares close 0.3 per cent up




Singapore equities ended 0.3 per cent higher on Wednesday, with the Straits Times Index gaining 8.05 points to 2,941.49.




Volume was relatively weak, though. About 991.1 million shares worth S$818.5 million in total changed hands, which worked out to an average unit price of S$0.83 per share.




The most actively traded counter was Annica Holdings, which was flat at S$0.001 with 252.5 million shares changing hands. Other actives included CNMC Goldmine and Noble Group.




Gainers outnumbered losers 212 to 182, or about seven up for every six down.
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Epic Research Singapore : HSBC Bank News Update

Shares of HSBC Holdings PLC HSBC -3.57% UK:HSBA -4.60% HK:5 -0.53% fell over 5% on Monday after the banking group posted a profit that fell short of expectations. Full-year 2013 pretax profit for HSBC rose 9% to $22.56 billion compared to $20.65 billion a year ago. A consensus forecast of analysts polled by Bloomberg News was calling for a profit of $24.6 billion. In the fourth quarter, pretax profit fell to $3.96 billion from $4.43 billion in the year-ago period.


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