16Nov

COMEX MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • The global grain market needs more U.S. wheat to make up for tightening supply in other major exporting zones, but China will be able to keep shunning U.S. soybeans in its trade tussle with Washington, grain merchants said on Wednesday. U.S. soybean shipments to China have dried up in recent months after Beijing raised tariffs on the most valuable U.S. agricultural export to the country.
  • When U.S. President Donald Trump asked Saudi Arabia this summer to raise oil production to compensate for lower crude exports from Iran, Riyadh swiftly told Washington it would do so. But Saudi Arabia did not receive advance warning when Trump made a U-turn by offering generous waivers that are keeping more Iranian crude in the market instead of driving exports from Riyadh’s arch-rival down to zero, OPEC and industry sources say.
  • Gold prices inched up while the dollar slipped on Thursday following reports that China delivered a written response to U.S. trade demand, and that the two nations resumed talks earlier this week to diffuse their trade disputes. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange inched up 0.1% at $1,211.8 a troy ounce by 1:00 AM ET (06:00 GMT).

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Israel’s cabinet plans to vote on Sunday on the nomination of Amir Yaron for Bank of Israel governor, the prime minister’s office said on Thursday. Israeli-born Yaron, 54, a professor at the Wharton School of the University of Pennsylvania and who has lived in the United States for two decades, was chosen by Prime Minister Benjamin Netanyahu last month. He would succeed Karnit Flug, whose five-year term concluded earlier this week. Deputy governor Nadine Baudot-Trajtenberg has assumed duties as acting governor.
  • Hungary’s central bank (NBH) is expected to hold interest rates at record lows on Tuesday, but there is a chance it could send a signal about future tightening against a backdrop of robust economic growth and rising inflation. All 15 analysts in a Reuters poll taken from Nov. 8-15 said the bank would keep both its 0.9 percent base rate and its -0.15 percent overnight deposit rate unchanged. The base rate has stood there since May 2016 and the deposit rate since September 2017.
  • Central banks are unlikely to issue digital currencies within the next decade, even in places where the use of cash is declining rapidly, European Central Bank board member Benoit Coeure said on Thursday. “There is broad agreement that a (central bank digital currency), in whatever form, is unlikely to be issued within the next decade, even among those four central banks that have indicated that they have reached the stage of developing a pilot project,” Coeure told a conference in Basel.

GOLD TRADING FORECAST TODAY

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13Nov

Singapore Stock Market : Analysts keep Valuetronics on ‘BUY Position’ regardless of headwinds

Singapore Stock Market :
Analysts from RHB Research, Maybank Kim Eng Research and UOB Kay Hian are keeping up their “BUY Position” proposals on Valuetronics Holdings. Notwithstanding, every one of the three financiers are additionally bringing down their objective costs for the hardware producer.

This comes as Valuetronics detailed a 12.8% decrease in profit to HK$44.3 million ($7.8 million) for the 2Q19 finished September, tumbling from HK$50.8 million per year prior.

2Q19 income slipped 1.3% to HK$716.2 million, hauled by a 22.0% decrease in Consumer Electronics (CE) income to HK$296.9 million. This was the aftereffect of a log jam sought after from CE client in the keen lighting business, and in addition generation disturbances in late September caused by the blaze flooding from Super Typhoon Mangkhut.

This was halfway alleviated by an expansion sought after from a few clients in the Industrial and Commercial Electronics (ICE) portion, which saw income increment by 21.4% to HK$419.3 million in 2Q19.

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“Barring [a one-off surge provision], net benefit would have expanded 14% y-o-y,” says UOB expert John Cheong in a Tuesday report, noticing that Valuetronics’ “hearty outcomes” in 2Q were “conceal” by the coincidental arrangement.

In any case, the financier is slicing its objective cost to 87 pennies, from 96 pennies beforehand. The lower target is because of UOB bringing down its FY19 and FY20 EPS estimates by 5% and 2%, separately, to incorporate arrangement from surge.

“Business standpoint stays positive… particularly for the higher-edge ICE portion as it keeps on observing more footing from the car clients,” Cheong says.

The way RHB examiner Jarick Seet sees it, Valuetronics keeps on offering an “appealing” profit yield.

“We anticipate that administration will keep compensating investors with higher profits, particularly when the organization performs better,” Seet says. “An aggregate of 27 HK pennies profit for every offer has likewise been proclaimed for FY18 and we expect a higher payout proportion in FY19 because of the solid monetary record, for a 6% yield.”

In any case, the examiner cautions that exchange levies could result in a dim viewpoint for Valuetronics.

“An exacerbating exchange war will probably contrarily affect the organization since 20% of incomes are presented to taxes,” Seet says. “Because of a debilitating estimation caused in terms of professional career war and a log jam of the segment internationally, we bring down our FY19F and 20F PATMI by 7% and 5%, to incorporate the erratic arrangement, bringing about a lower target cost of 82 pennies, pegged to 10x FY19F P/E.”

Correspondingly, Maybank has brought down its objective cost on Valuetronics to 96 pennies, from $1.05 beforehand.

“While administration’s tone recommends business energy is flawless for FY19E, we minimalistically shave FY19-21E center EPS by 4-7% as keen lighting recuperation could miss the mark concerning our desire, and different organizations could moderate if the exchange war heightens,” examiner Lai Gene Lih says in a Tuesday report.

As at 12.48pm, shares in Valuetronics are exchanging a large portion of a penny bring down at 67.5 pennies. As indicated by Maybank valuations, this infers an expected cost to-profit proportion of 8.5 occasions and a profit yield of 6.3% for FY19.

MAS propelling US$5b support for private value and funding speculations

THE Monetary Authority of Singapore (MAS) is propelling a US$5 billion store for private market ventures, to be overseen by best worldwide private value and framework finance administrators.

The chiefs must be focused on developing their current nearness in Singapore or setting up a noteworthy one.

Under the program, MAS will dispense US$5 billion of its own capital as a major aspect of its interest in the private markets resource class.

The reserve was reported on Tuesday by Enterprise Singapore administrator and MAS board part Peter Ong at the Global Investor Summit, being held amid the current year’s Singapore Fintech Festival.

Mr Ong stated: “This expands on the accomplishment of MAS’ existing outer store administrator program for the general population markets resource class, which has tied down worldwide resource directors in Singapore and catalyzed the development of our advantage administration industry.”

As indicated by a report by Bain and Co, there are presently in excess of 220 private value and investment chiefs situated in Singapore. For as long as five years, their benefits under administration developed at a compound yearly development rate of 28 percent, to achieve S$190 billion.

Around 85 percent of their ventures go into Asia, with Asean as a best speculation goal, trailed by India and China.

Mr Ong said that the US$5 billion program will help build up a more grounded stage for development back and framework improvement, and make a more profound and lively private markets biological community in Singapore that will fortify the financing channels to help endeavors.

He featured that organizations are remaining private longer.

“There is presently a more noteworthy acknowledgment among Asean organizations that private capital isn’t just simply one more wellspring of assets, yet in addition a key type of ‘shrewd capital’ that accompanies innovation, business expertise and systems helpful to organizations to develop and scale,” said Mr Ong.

13Nov

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices were little changed on Monday as the dollar traded near 16-month highs and traders awaited U.S. inflation data due later this week. Meanwhile, Federal Reserve Chairman Jerome Powell’s speech on Wednesday would also be closely watched as he discusses national and global economic issues. The Fed indicated earlier this month that it is still on course to hike interest rates in December.
  • The race is on for liquefied natural gas (LNG) producers to build export terminals as demand soars, but the criteria for financing such mega-projects have shifted as traditional relationships with LNG consumers have begun to disintegrate. Royal Dutch Shell’s (AS:RDSa) final investment decision (FID) taken last month for a $30 billion LNG Canada project was a shot in the arm for the LNG industry, which is emerging from almost three years of low prices and investment.
  • Oil rose by more than 1 percent on Monday, set for its largest one-day increase in a month after Saudi Arabia said OPEC and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per day. Saudi Arabia, the world’s largest oil exporter, said on Sunday it would cut its shipments by half a million barrels per day in December due to seasonal lower demand.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Emerging markets are already contending with U.S.-China trade tensions, policy tightening in developed countries, and a resurgent dollar. Higher oil prices are exactly what they don’t need right now. But that’s what they may get as the year draws to an end. With crude oil in a bear market, Saudi Arabia said OPEC and its allies should reverse about half the increase in output they made earlier this year as fears of shortages are supplanted by concerns about oversupply and collapsing prices. Oil futures in New York climbed as much as 1.6 percent.
  • Prime Minister Theresa May’s Brexit strategy came under attack from all sides on Monday, increasing the risk that her plan for leaving the EU will be voted down by parliament and thrust the United Kingdom toward a potentially chaotic “no-deal” Brexit. In a sign that Brexit talks could go down to the wire, EU sources said they want clarity from London by the end of Wednesday at the latest if there is to be a summit this month to approve a Brexit deal.
  • China will further open its economy in the face of rising protectionism, Premier Li Keqiang said as he arrived in Singapore on Monday for meetings with Asia-Pacific leaders that will focus on speeding up work on a major new trade pact. Li’s remarks in an article in Singapore’s Straits Times newspaper came as Singapore’s Prime Minister Lee Hsien Loong called for more regional integration, saying multi lateralism was under threat from political pressures.COMEX GOLD SIGNAL

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12Nov

COMEX MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Oil isn’t the only commodity getting hammered these days. Gold’s key support of $1,200 could also be under attack, with investors seeing little upside for the yellow metal amid the string of U.S. rate hikes forecast. U.S. producer price index (PPI) data for October, released on Friday, showed an increase of 0.6% vs expectations for 0.2%. That was an endorsement of sorts for the Federal Reserve to raise rates again in December, the fourth time it would be doing so this year.
  • The oil bears vs. OPEC showdown is coming down to the wire. And across crude markets the question almost everyone seems to be asking is: can oil prices go any lower? On Friday, the world’s leading crude benchmarks fell below key support levels they’ve held for the past seven months at least. U.S. West Texas Intermediate fell under the $60 per barrel support it had maintained since March and and U.K. Brent fell below the $70 level it had latched on to since April.
  •  China National Aviation Fuel Group on Saturday launched the country’s first aviation fuel consumption index aimed at providing a fresh gauge for the regional and national economic health of the world’s second-largest economy. After stellar growth for decades, China, the world’s second largest consumer after the United States, is seeing its aviation fuel demand growth slipping in the last few years as the economy expands less rapidly and more people travel by high speed rail.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  •  China’s premier said loans to small firms should not be “willfully withdrawn,” and China should help small firms tackle their liquidity difficulties, the official Xinhua news agency reported late on Friday. His comments are the latest from China’s leadership about efforts to prop up small and medium enterprises (SMEs), which are flailing in the face of a wider clampdown on riskier credit, a slowdown in economic growth and the escalating trade war between the United States and China.
  • White House adviser Peter Navarro on Friday lashed out at efforts by current and former Wall Street executives to urge the United States and China to end their trade dispute, calling them “unregistered foreign agents” who were trying to pressure President Donald Trump into a deal. “When these unpaid foreign agents engage in this kind of diplomacy, socalled diplomacy, all they do is weaken this president and his negotiating position,” Navarro said at the Center for Strategic and International Studies in Washington.
  • “As part of a Chinese government influence operation, these globalist billionaires are putting a full-court press on the White House in advance of the G-20 in Argentina,” Navarro said in a speech at the Center for Strategic and International Studies in Washington on Friday. Their mission is to “pressure this president into some kind of deal” but instead they’re weakening his negotiating position and “no good can come of this.”

GOLD TRADING FORECAST TODAY

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9Nov

Singapore Stocks Watch: Singapore shares end bring down on Friday

Singapore Stocks Watch:
SINGAPORE stocks shut lower on Friday, with the Straits Times Index withdrawing 0.49 percent or 15.27 focuses to 3,077.97.

Washouts dwarfed gainers 229 to 145, or around eight securities down for each five up, after 1.73 billion securities worth S$1.03 billion changed hands.

Among the most vigorously exchanged by volume, Genting Singapore increased 6.7 percent or S$0.06 to S$0.95 with 90.5 million offers exchanged. Minimized Metal Industries headed up 16 percent or S$0.004 to S$0.029 with 78.8 million offers exchanged.

Dynamic record stocks included DBS Group Holdings, down one percent or S$0.25 to S$23.74; and Singtel, up 0.6 percent or S$0.02 to S$3.10.

Singtel-supported fintech firm Sygnum declares tie-up with blockchain organization daura

FINTECH firm Sygnum on Friday declared its association with blockchain organization daura to fabricate an answer for safely issue computerized resources, for example, tokenised offers and speculation items.

Sygnum – which tallies Singtel Innov8, the funding arm of Singtel Group, as one of its financial specialists – was established by a group of Swiss and Singaporean experts. It builds up its items and administrations all the while in the monetary center points of Switzerland and Singapore.

Mathias Imbach and Gerald Goh, establishing accomplices of Sygnum, said that in the main stage, their arranged contributions will target qualified or certify institutional financial specialists. In the second stage, it will offer bank-to-bank innovation answers for engage other monetary foundations to give administrations to the token economy.

Sygnum and Swiss telco Swisscom have likewise shaped a joint endeavor for the safe stockpiling of computerized resources, called Custodigit.

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Sygnum said it intends to improve the present money related administrations foundation with the potential outcomes of circulated record advancements and computerized resources – with blockchain being the present most noticeable case of the dispersed record innovation.

As vital accomplices, Sygnum, Swisscom and daura will manufacture a computerized resource biological community tending to the agony purposes of coordinating the advanced record innovation into the money related industry, for example, the nonattendance of managed fiat-advanced passages and the absence of agreeable and secure guardianship answers for computerized resources, in addition to other things.

Dwindle Hofmann, senior fintech master at Swisscom and between time CEO of Custodigit, stated: “The participation of Sygnum and Custodigit consolidates one of a kind know-how in the fields of computerized resources, saving money, consistence and innovation. This cultivates the improvement of an advanced resources authority stage for the managed money related industry.”

9Nov

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • After spending the majority of the day in a tight range near the $1230 handle, the XAU/USD pair lost its traction and slumped to a fresh daily low of $1228 in the last hour. As of writing, the pair was trading at $1228.70, losing 0.35%, $4.30, on a daily basis. The US Dollar Index, which suffered heavy losses in the second half of the previous week, started the day on a positive note and rose above the 96.50 mark ahead of the non-manufacturing PMI reports that the ISM and the IHS Markit will be releasing later in the session.
  • The United States reintroduced sanctions against Iranian oil on Monday while giving some of Washington’s closest allies exemptions that allow Tehran’s biggest customers, mostly in Asia, to keep buying crude for now. Washington has restored measures lifted under a 2015 nuclear deal negotiated with Tehran by the administration of President Barack Obama.
  • Gold prices slipped while the dollar was unchanged on Monday as traders awaited the U.S. mid-term elections and the Federal Reserve’s November meeting due later this week. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange slipped 0.03% to $1,232.9 a troy ounce by 12:20 AM ET (04:20 GMT). The U.S. Fed will begin its two-day meeting on Wednesday, with markets anticipating no change to interest rates ahead of a widely expected rate hike in December.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • A dozen euro zone banks holding about 40 percent of the sector’s assets need to strengthen their capital positions, European Central Bank Vice President Luis de Guindos said on Monday, reflecting on the results of a stress test exercise. The ECB earlier said that it would consider a 5.5 percent common equity tier 1 capital (CET1) level as acceptable in the test but comments from de Guindos suggest that the ECB may be looking a higher level.
  • The United States announced a new raft of sanctions on Iran on Monday and threatened further action to pressure its old adversary, steps the Islamic Republic condemned as “economic war” and vowed to defy. The move is part of a wider effort by U.S. President Donald Trump to curb Tehran’s missile and nuclear programs and diminish the Islamic Republic’s influence in the Middle East.
  • The European Central Bank has withdrawn the banking license of Malta’s Pilatus Bank, the island’s financial regulator said on Monday, after the chairman of the bank was charged in the United States over money laundering and bank fraud. The lender was also accused of processing corrupt payments for senior Azeri and Maltese figures by investigative journalist Daphne Caruana Galizia. She was killed a year ago by a car bomb in Malta.

COMEX GOLD SIGNAL

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5Nov

Top five REITs add up to returns found the middle value of 5.7% in October

SGX Update: Ascendas India Trust saw the greatest return of 6.9%.

The best five in the 10 best-performing REIT constituents in the I-Edge S-REIT Index saw a normal return of 5.7% from July to October, the Singapore Exchange (SGX) uncovered.

On a YTD and three-year premise, their aggregate returns found the middle value of – 5.3% and +30.4% individually.

Ascendas India Trust finished the rundown with Q3 returns which hit 6.9% in the said months. This was trailed by Starhill Global REIT (5.5%), Mapletree Commercial Trust (5.4%), and Keppel REIT and Suntec REIT which saw their profits hit 5.2%.

Likewise gathering together the best 10 best entertainers are CapitaLand Commercial Trust (4.7%), Frasers Hospitality Trust (4.4%), CapitaLand Mall Trust (3.3%), Frasers Commercial Trust (2.7%), and SPH REIT (2.3%).

“Singapore REITs are at present confronting a higher financing cost condition. Since January 2017, the Federal Reserve has raised US loan fees six times – with the latest climb in September,” SGX remarked.

In addition, the neighborhood bourse noticed that the Fed has communicated goal to bring rates again up in December, and three more occasions in 2019, as it expect that US keeps on developing reasonably and swelling stays under control.

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Top player Ascendas India Trust saw a 32% YoY bounce in its conveyance per unit (DPU) to $0.198. Its net property pay rose 4% to $32.9m over incremental pay commitments from the acquisitions of BlueRidge 2 and Arshiya distribution centers, higher premium pay from interests in its IT parks through development subsidizing and positive rental inversions.

SGX to ink MOUs with two industry bodies to fortify associations in China

TO additionally fortify its ties with Chinese organizations and markets, the Singapore bourse will sign memoranda of comprehension (MOUs) with the Zhejiang (S) Entrepreneurs Association (ZJEA), and the China Futures Association (CFA) later on Monday.

Through the MOU with the non-benefit ZJEA, the Singapore Exchange (SGX) would like to “cultivate more prominent joint effort in creating Singapore capital market open doors for China undertakings”, it said. The ZJEA has solid connections with ventures situated in Zhejiang region and has a decent reach to endeavors in different parts of China, the SGX included.

In the interim, the Singapore bourse will restore its organization with the CFA with the MOU, which will see the two collaborate in the advancement of the subsidiaries advertises in China and Singapore through monetary market instruction and research. The organization was first settled in 2013.

Around 20 percent of recorded organizations and 15 percent of bond backers on the SGX are from Greater China. The recorded organizations have a market capitalisation of over S$206 billion, and security backers have an exceptional measure of S$294 billion to be paid out to bondholders.

The marking functions will occur at an affair supper in Beijing to check the tenth commemoration of the SGX’s Beijing Representative Office.

Loh Boon Chye, CEO of SGX, stated: “We are amped up for the open doors offered with China additionally internationalizing, and the expanding job that it is playing inside worldwide capital markets. Together with our accomplices, we will keep on advancing Singapore as a decision area for Chinese organizations hoping to extend their organizations universally, and in addition fortify SGX’s job in encouraging the developing institutional financial specialist interest for hazard administration devices and more extensive access to China.”

Li Guosheng, leader of ZJEA, stated: “SGX, as a portal to universal markets, is all around situated to assist these business visionaries with competing on a worldwide scale. This MOU among SGX and ZJEA will bond a nearby organization among SGX and Zhejiang business visionaries in China.”

Wang Ming Wei, executive of China Futures Association stated: “2018 imprints every time of fast development for China’s prospects advertise. We are charmed to proceed with this joint effort which isn’t just a vital development in our association with SGX, however will likewise additionally advance the subsidiaries advertise. With this common order, we anticipate working intimately with SGX in the coming years, to all the more likely serve our individuals and markets.”

SGX shares were down S$0.09 or 1.3 percent at S$7.09 before entering the early afternoon break.

5Nov

COMEX MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • The Trump Administration seems to be achieving its tri-fold agenda of punishing Iran while balancing the world’s energy needs and keeping oil prices low, as crude markets posted on Friday their largest weekly loss since February. Eight countries, including Japan, India, South Korea and China, will be given waivers to continue importing oil from Tehran once export sanctions against the Islamic Republic start this weekend, Bloomberg reported.
  • Gold prices were higher on Friday as the U.S. dollar inched down, despite a better-than-expected jobs report. Comex gold futures for December delivery rose 0.11% to $1,237.40 a troy ounce as of 10:33 AM ET (14:33 GMT). Gold was higher due to a fall in the greenback. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, inched down 0.06% to 96.22.
  • Earnings for the two largest U.S. oil companies on Friday jumped on higher crude prices and the nation’s shale boom, joining big oil rivals in posting sharply higher quarterly profit. Exxon Mobil Corp (N:XOM) posted a 57-percent increase on prices there were up 44 percent over a year ago helped by a lower tax rate while Chevron Corp’s (N:CVX) earnings doubled on surging output from the Permian Basin of West Texas and New Mexico. While Exxon’s results topped Wall Street forecasts, but shares were up fractionally as its oil and gas production declined for the ninth of the last 10 quarters.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • China will provide Pakistan with economic aid but more talks will take place to fix the details, a senior Chinese diplomat said, after new Pakistani Prime Minister Imran Khan met Chinese Premier Li Keqiang on Saturday. Pakistan’s foreign reserves have plunged 42 percent since the start of the year and now stand at about $8 billion, or less than two months of import cover.
  •  U.S. President Donald Trump said on Friday that he will likely make a deal with China on trade, adding that a lot of progress had been made to resolve the two countries’ differences but warning that he still may impose more tariffs on Chinese goods. “China very much wants to make a deal,” Trump told reporters in Washington just hours after his top economic adviser expressed caution about talk of a possible U.S.-China trade agreement.
  • China is willing to resolve trade issues with the United States through mutually respectful talks and on an equal footing, said one of the country’s vice commerce ministers Wang Bingnan on Saturday. Beijing will jointly promote the healthy and stable development of China-U.S. relations, Wang told reporters at a news conference.

5nov6

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2Nov

Singapore Stock Watch: SGX reveals 10 new leveraged exposure products

Singapore Stock Watch:It will let SIP-qualified financial specialists take long or short positions with use on the every day execution of the fundamental stocks.

The Singapore Exchange (SGX) will welcome the posting of 10 new Single Stock Daily Leverage Certificates (DLCs) which will get five times use on Singapore blue-chip organizations and surely understood territorial stocks.

Through the Single Stock DLCs from backer Société Générale, determined speculation items (SIP)- qualified speculators will have the capacity to take long or short positions with use on the day by day execution of the hidden stocks.

“We have been getting positive input on the DLCs since first experience with the market the previous summer, and we think it is the perfect time to grow the hidden inclusion to single stocks,” Keith Chan, head of Cross Asset Listed Distribution at Société Générale’s Global Markets in Asia Pacific, said.

The main clump of stocks incorporates chosen Straits Times Index (STI) organizations, for example, DBS, UOB, OCBC, Singtel, Venture, and Keppel Corporation Limited. It likewise incorporates Hang Seng Index (HSI) stocks, for example, Tencent Holdings and Ping An Insurance Group.

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Since the presentation of the primary DLC, the turnover of DLCs exchanged on SGX has surpassed $3.5b.

“This [move] will likewise expand the scope of imaginative and alluring exchanging items offered by merchants.” SGX head of research and items Chan Kum Kong said. “With DLCs picking up footing from both retail and institutional members, we expect the interest for our recorded organized items to keep on developing couple.”

Back in July 2017, SGX was the primary bourse in Asia to offer exchanging of DLCs. SGX has the exchanging of 18 DLCs on three created showcase lists, to be specific MSCI Singapore, HSI and Hang Seng China Enterprises Index, with use levels of three, five and seven times.

SingPost reports 13% fall in 2Q income to $25 mil on coincidental reasonable esteem misfortune on warrants from partner

Singapore Post announced 2Q19 profit finished Sept of $25.1 million, down 12.9% from a year prior, due to a great extent to an excellent reasonable esteem misfortune os $2.9 million on warrants from a related organization.

Barring such irregular things, hidden net benefit was steady at $28.1 million, as working benefit enhanced 33.5% to $40 million however was balanced by offer of loss of partners of $3.6 million.

Income for 2Q19 expanded 2.2% to $368.7 million, on more grounded commitments from universal mail and property.

Income from web based business related exercises over the gathering rose 2.2% in the quarter to $189.1 million, contributing 51.3% of aggregate income.

In the post and package portion, income expanded to $176.7 million on development in cross-outskirt online business conveyances, while benefit on working exercises rose 5.1% to $42.1 million, driven by higher edges from last-mile web based business conveyances in Singapore.

The coordinations fragment turned around a misfortune in the earlier year to record a working benefit of $0.3 million on level income of $125 million due to a great extent to littler misfortunes at Quantium Solutions, which has been looking into horrible client contracts to enhance gainfulness, and solid commitments from the cargo sending business.

Working costs plunged 0.4% at $331.7 million as work and related costs limited 6.2% to $76.9 million.

Benefit on working exercises from property rose 54.1% to $13.3 million, helped by rental pay from the SingPost Center retail shopping center, which re-opened in October 2017.

For 2Q19, the governing body has pronounced a between time profit of 0.5 penny for each offer to be paid on Nov 30.

In its standpoint, SingPost says the gathering stays all around situated to profit by the development in worldwide web based business exercises in spite of the fact that it remains exceedingly aggressive while local mail volumes are relied upon to slant downwards.

“We keep on coordinating the tasks of TradeGlobal and Jagged Peak in the US, in testing economic situations,” it includes.

Year to date, shares in SingPost are down 18.3% to close at $1.04 on Friday.

2Nov

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices rebounded on Thursday from the almost three week lows reached in the previous session as the dollar weakened broadly. December gold futures were up 1.5% to $1,230.60 by 08:58 AM ET (12:58 GMT) on the Comex division of the New York Mercantile Exchange. Gold prices settled at $1,212.30 on Wednesday, which was the lowest close since October 11.
  • Oil prices fell to their lowest level in more than two months on Thursday, as indications of swelling U.S. crude stockpiles weighed. U.S. oil inventories rose by a more-than-expected 3.2 million barrels last week, the U.S. Energy Information Administration said on Wednesday. It was the sixth straight weekly climb that has seen domestic supplies swell by a total of 31.9 million barrels over that period.
  •  A vessel carrying soybeans from the United States to China changed its destination to South Korea on Thursday, shipping data showed, amid a trade war that has decimated U.S. shipments of the commodity to the world’s top oilseed importer. The Star Laura, carrying 36,000 tonnes of American soybeans loaded in Seattle in late September, was due to arrive in the eastern Chinese port of Qingdao on Wednesday, according to shipping data on Refinitiv Eikon.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Chinese President Xi Jinping on Thursday promised support for struggling private firms, pledging more tax cuts and financial aid, underscoring government resolve to support the private sector as growth slows. Xi said the government would reduce corporate burdens including value-added tax cuts and tax exemptions for small businesses and tech startups, according to the official Xinhua news agency, while promising an equal business environment for all firms.
  • Efforts to ease post-crisis banking rules probably will continue even if Democrats triumph in next week’s midterm elections and pressure regulators to reverse course. While Democrats face long odds to flip the Senate, polls show they’re poised to gain at least the 23 seats needed to retake control of the House. That would put them in charge of committees that oversee financial matters, empowering them to summon agency heads and grill them about deregulation efforts championed by President Donald Trump.
  • The European Union on Thursday called for China to take concrete steps to further open its market to foreign firms and provide a level playing field, saying it would not sign up to any political statement at next week’s major import fair in Shanghai. The EU’s statement comes on the eve of a trade expo that Beijing hopes to use to signal its willingness to narrow trade deficits and assuage outside concern about its trade practices.

2nov5

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