Singapore shares open 1.37% lower on Tuesday

A STEEP Wall Street rebound overnight on dovish Federal Reserve comments failed to bring cheer to the Singapore stock market when it started trading on Tuesday, after a one-day public holiday.

At 9.02am, the benchmark Straits Times Index was down 39.47 points or 1.37 per cent at 2,833.86.

Some 92.4 million shares worth S$99.6 million were traded, with losers outpacing gainers 151 to 34.

Elsewhere in Asia, stocks joined the US equity rebound in the morning trading on the back of a continued dovish tone from Fed policymaker Lael Brainard in her approach to US monetary policy. This followed a sell-off on Monday stoked by rising bond yields and talk that US rates might rise as early as next week.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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Taiwan: Stocks fall; tech, shipping counters help limit losses

Taiwan stocks fell on Friday in keeping with nervousness in some overseas markets, but losses were limited as key technology and shipping stocks rose.

Some Asian shares were weak on uncertainty over the potential for a strong US nonfarm payrolls number later in day - and with it an elevated chance of a Federal Reserve rate hike soon.

As of 0230 GMT, the main Taiex index fell 0.5 per cent to 8,960.75, after closing down 0.8 per cent in the previous session.

The electronics subindex sank 0.8 per cent, while the financials subindex lost 0.2 per cent.
But some share gains were coming on back of troubles at rival companies that could bolster business for the Taiwanese listed firms.

Shares in Hon Hai Precision were up 1.5 per cent. Hon Hai is a major assembler for Apple Inc's popular iPhones, and the latest version of iPhones are expected to launch later this month and compete with smartphones by rival Samsung Electronics Co.
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Seoul: Won, stocks tread water; major economies' data awaited

The South Korean won and shares made only small moves early on Wednesday, with many investors staying on the sidelines as views on how soon US interest rates will rise changing often.

The won stood at 1,116.7 as of 0214 GMT, up 0.3 per cent from Tuesday's close of 1,119.9.

The Korea Composite Stock Price Index (Kospi) was down 0.3 per cent at 2,034.60 points.

Jung Sung-yoon, a foreign exchange analyst at Hyundai Futures, expects moves could get sharper as economic indicators from major economies including the US and China come out in the near future.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 heads for biggest monthly gain since April before Opec talks

Oil is poised for the biggest monthly advance since April amid speculation informal talks among Opec members in Algeria next month may result in action to stabilise the market.

Futures slid 0.3 per cent in New York, trimming the monthly gain to 11 per cent. Iraq would support a proposal for the Organization of Petroleum Exporting Countries and other major producers to freeze output, Prime Minister Haidar Al-Abadi said in Baghdad.

US crude stockpiles increased by 942,000 barrels last week, the industry-funded American Petroleum Institute was said to report. Government data due Wednesday is forecast to show a 1.3 million build.

Oil entered a bull market Aug 18, less than three weeks after tumbling into a bear market. A cap on production would be positive for the market, Saudi Arabia's Energy Minister Khalid Al-Falih said in an interview last week, while ruling out a cut to output. A deal to freeze supply was proposed in February but a meeting in April ended with no final accord.
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Australia shares bounce on Wall Street, financials lead; NZ stocks up

Australian shares bounced on Tuesday, supported by overnight strength on Wall Street and upbeat US consumer spending data, with gains in the financial sector leading the way.

The S&P/ASX 200 index rose 28.2 points, or 0.5 per cent, to 5497.6 by 0245 GMT, after hitting its lowest in over a month in the previous session due to concerns of a near-term US interest rate hike.

But strong US consumer spending, which accounts for more than two-thirds of US economic activity, lifted the mood.

Investors are now turning their attention to US payroll data later on Friday to gauge if the Federal Reserve might be in a position to raise rates before year-end.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 to watch: IHH, Croesus Retail Trust, Sim Lian

EARNINGS dominated overnight news heading into Friday's market opening.

IHH Healthcare's second-quarter net profit rose 8 per cent to RM246.1 million (S$82.2 million) on the back of gains from a divestment and foreign exchange. The group posted a RM54.8 million gain from selling its 90 per cent stake in Shenton Insurance.

Croesus Retail Trust raised its distribution per unit to 1.7 Singapore cents for the fourth quarter as fair-value adjustments dragged down net profit by 21.8 per cent to 4.4 billion yen (S$59 million).

The Japan-focused real estate investment trust's net property income rose 19.4 per cent to 1.44 billion yen in the three months ended June 30, but fair-value gains on investment properties slipped 6.2 per cent to 5.6 billion yen while derivative financial instruments incurred a loss of 820.6 million yen compared to a year-ago gain of 233.7 million yen.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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New Silkroutes responds to SGX trading query

NEW Silkroutes Group said on Tuesday it is not aware of any information not previously announced that triggered the unusual movements in its shares.

In response to Singapore Exchange's (SGX) query earlier in the day, the group said that in the interest of providing full disclosure to the public and after exploring possible explanations for the trading, it intends to release the announcement of its full-year financial results after trading hours on Tuesday.

There will also be a media release on the group's oil and gas unit's performance before trading hours on Wednesday.

"Further to the above and as previously disclosed in the announcement released on Aug 5, 2016, in response to SGX's query regarding its trading activity, the company constantly reviews options and explores opportunities to enhance shareholders' value as part of the group's strategy."

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SGX issues trading queries to Magnus Energy, New Silkroutes

SINGAPORE Exchange (SGX) on Tuesday issued trading queries to two listed companies, Magnus Energy and New Silkroutes Group, for "unusual movements" in their counters.

The movements in Magnus Energy's shares prompted a query from the bourse operator, which noted this is the second query issued to the company in the past four months.

Magnus Energy had topped the list of the most active counters by volume in early-morning trade on Tuesday. As at 11.05am, the stock was still the most heavily traded, with 318.8 million shares changing hands.

Separately, New Silkroutes' counter rose 6.5 per cent or 3.5 Singapore cents to S$0.575 at 11.07am, with more than 1.1 million shares changing hands.

SGX noted this is the second query issued to New Silkroutes in the past one 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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Australia shares gain on strong earnings; NZ hits another record

Australian shares climbed 0.8 per cent on Tuesday aided by broad-based gains across all sectors as sentiment was buoyed by better-than-feared results from several large companies in the earnings season so far.

The S&P/ASX 200 index rose 42.15 points to 5,557.20 by 0115 GMT. The benchmark lost 0.21 per cent on Monday.

Banks and healthcare stocks led gains, aided by strong earnings from healthcare services provider Healthscope which posted a nearly 19 per cent rise in full year profits.

Australian companies have fared well in the current earnings season which is almost halfway through, Deutsche and UBS analysts wrote in separate 'earnings review' notes.

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SINGAPORE I-FOREX UPDATE BY EPIC RESEARCH

EUR/USD is currently trading with a bullish bias. Yesterday, the pair traded perfectly long as

previously forecasted but is yet to reach our set target resistance level at 1.1239. The daily

candle is still pretty much bullish and will likely push the price further to the upper side.

Thus, during this intraday, we expect a possible bullish price rally towards 1.1239 or even

higher to 1.1264. This pair should be traded alongside EUR/JPY, AUD/USD, NZD/USD and

GBP/USD. These pairs have a strong positive correlation of up to +0.96 and will have a similar

price action during this intraday.




The pound slipped lower against the U.S. dollar on Wednesday, after data showed that

U.K. service sector activity contracted for the first time in more than three years and as investors

eyed the Bank of England’s policy meeting on Thursday.GBP/USD hit 1.3287 during

European morning trade, the session low; the pair subsequently consolidated at 1.3334,

edging down 0.17%.Cable was likely to find support at 1.3169, the low of August 2 and resistance

at 1.3480, the high of July 15.Research group Markit said its U.K. services purchasing

managers’ index dropped to 47.4 last month from a reading of 52.3 in June. It was

the lowest level since December 2012.The weak data added to expectations for a rate cut



by the BoE at its policy meeting on Thursday.
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Epic Research Singapore : Sony Market News Update

Sony Corp. said Friday there is a risk batteries on its new Vaio personal computers overheating and catching fire, in the latest product glitch to hit the Japanese electronics and entertainment giant. 

Sony said it is asking customers to stop using its Vaio Fit 11A laptops as soon as possible

The company said it has sold a total of 25,905 Vaio products world-wide since it kicked off sales in February, including 497 in the U.S., 7,158 in Europe, 2,088 in China and 3,619 in Japan. 

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Epic Research Singapore : BlackBerry Market News Update

Struggling Canadian smartphone maker BlackBerry said it will not renew an accord allowing T-Mobile to sell its phones in the United States.
 

 When the current license expires April 25, T-Mobile, a unit of Deutsche Telekom, will no longer offer BlackBerry phones on its US network.

The two companies' strategies are no longer complementary, although BlackBerry hopes to work again with T-Mobile once their commercial strategies are back in sync, said CEO John Chen.

The end of the contract will have no effect on current users of BlackBerrys on the T-Mobile network.

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Epic Research Singapore : S&P Market News Update

Australia’s S&P/ASX 200 lost 0.5%, after data showed that Australian firms had scaled back on investments in the fourth quarter as the resources boom that has powered the economy over the last decade slowed.

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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 Singapore : Sony Update

He shares closed with a 1.5% gain, moments ahead of the company’s quarterly results, in which Sony JP:6758  said it was lowering its fiscal-year outlook from a profit to a loss and confirmed plans to sell its Vaio PC unit. So maybe further gains tomorrow will be a tall order.

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