MARKET UPDATES :
- SINGAPOREAN banks are well-positioned to meet new MAS liquidity coverage ratio (LCR) requirements, says Fitch Ratings. The new rules, announced on 24 June, are in line with wider Basel III objectives, and will require locally incorporated banks to maintain a full (100 per cent) local-currency LCR from January 2015. An all- currency LCR will also be implemented, starting at 60 per cent in 2015 and rising in annual 10pp steps to 100 per cent by 2019.
- PRICES of completed non-landed private homes in Singapore rose 0.8 per cent in May compared to April, the flash estimates for the National University of Singapore’s Overall Singapore Residential Price Index (SRPI) revealed. The revised index value for April 2014 reflects a 1.0 per cent month-on-month decline.
- THE Singapore Exchange (SGX) captured only 4 per cent of this year’s initial public offerings in Asia Pacific (excluding Japan), generating US$1.8 billion worth of proceeds, down 66 per cent compared to the first-half of 2013, preliminary data from Thomson Reuters show.
STOCK RECOMMENDATION :
- BUY OLAM INTERNATIONAL ABOVE 2.580 TG 2.620, 2.660, 2.720 SL 2.520