MARKET UPDATES :
- THE China-related risks of Asia-Pacific banks continue to grow, said Fitch Ratings APAC banks had accumulated about US$1.2 trillion of China-related exposure as at end-2013, the rating agency said on Monday. Hong Kong accounts for the bulk (US$798 billion), with 34 per cent of system assets, followed by Macau (20 per cent), Singapore (12 per cent) and Taiwan (7 per cent).
- RESALE transactions of non-landed private homes fell 7.5 per cent month-on-month in May to an estimated 421, while resale prices continued to inch down by 0.3 per cent to stay at a 17-month low. On a year-on-year basis, resale volume fell 42.6 per cent drop (from 734 units resold in May 2013), flash figures released by the Singapore Real Estate Exchange (SRX) on Monday showed.
- VARD Holdings has shown a strong order pace with up to four contracts won in a week, but research firm OSK DMG has cautioned investors that orders tends to be “lumpy” and that near-term earnings are not expected to outperform.
STOCK RECOMMENDATION :
- BUY OLAM INTERNATIONAL ABOVE 2.500 TG 2.550, 2.600, 2.660 SL 2.430