9May
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Financial Sgx Singapore Stock Market Trading Picks And News – 09th May 2014

MARKET UPDATES

[SINGAPORE] Singapore sovereign wealth fund GIC has bought a stake in Brazilian online sports goods retailer Netshoes in a further diversification of its vast global portfolio. GIC said in a statement that it led a new round of investment in Netshoes of US$170 million, along with other investors including Singapore state investment arm Temasek Holdings, Tiger Global Management, Iconiq Capital and Kaszek Ventures.

THE Ministry of Manpower (MOM) and CPF Board jointly announced on Thursday that the CPF Minimum Sum has been increased to S$155,000 to account for inflation.This will apply to CPF members who turn 55 between July 1 this year and June 30 next year.It will be set aside in their Retirement Account using savings from their Special, and then Ordinary Accounts.

CATALIST-LISTED Asia-Pacific Strategic Investments on late Wednesday posted a deeper net loss attributable to equity holders of RM2.5 million for the third quarter ended March 31, 2014, 36.5 per cent greater than the previous year’s net loss of RM1.83 million. Revenue fell 11.1 per cent to RM1.98 million, down from RM2.2 million a year ago.

STOCK RECOMMENDATION:

  • BUY CITY DEVELOPMENT LTD ABOVE 10.900 TG 11.000, 11.120, 11.250 SL 10.780.

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