Daily Archives: September 22, 2014

22Sep
sgx 23 sep 14

Financial Sgx Singapore Stock Market Trading Picks And News – 23 September 2014

MARKET UPDATES :

  • THE Ministry of Finance (MOF), Monetary Authority of Singapore (MAS) and the Inland Revenue Authority of Singapore (IRAS) have proposed regulations to help financial institutions in Singapore comply with the US Foreign Account Tax Compliance Act (Fatca). The Fatca requires all financial institutions outside of the US to regularly submit information on financial accounts held by US persons to the US Internal Revenue Service (IRS), or face a 30 per cent withholding tax on certain gross payments received from the US. To ease the Fatca compliance of financial institutions here, Singapore has substantially concluded a Model 1 Intergovernmental Agreement (IGA) with the US, announced the three government agencies in a joint statement on Monday. Under the Model 1 IGA, Singapore- based financial institutions will report information on financial accounts held by US persons to IRAS, which will in turn provide the information to the US IRS.
  • Singapore shares ended lower on Monday with the benchmark Straits Times Index down 8.48 points to close at 3,296.57. Volume was 1.57 billion shares worth S$952.7 million. Losers outnumbered gainers 280 to 162.
  • Danish rookie Kevin Magnussen needed medical attention for burns to his backside following Sunday’s Singapore Grand Prix in which he finished 10th for McLaren. In hot and humid conditions under floodlights at the south east Asian street circuit, he was one of many drivers to suffer from fatigue and dehydration – and in his case a burnt backside.
  • Palm oil’s share of global vegetable oil consumption looks set to climb in the months ahead as the top two producers engage in a tit-for-tat export tax tussle designed to boost sales. Barely a month after number two producer Malaysia cut export tariffs, top palm oil maker Indonesia is preparing a similar move to boost sales of the tropical oil used for cooking and in products ranging from candies to cosmetics. It might seem that Malaysia would then lose the competitive advantage it gained with its tax cut, which has pushed up shipments this month. But traders and analysts say there’s room for both countries to benefit at the expense of Argentina’s soybean oil and Ukraine’s sunflower oil.
  • CITIMAC Industrial Complex, a stone’s throw from Tai Seng MRT Station, has been launched for collective sale with a price tag of at least S$550 million. This has been billed as the largest freehold Business 1-White redevelopment site in Singapore to be put up for sale. Cushman & Wakefield is handling the collective sale through a tender that will close on Oct 30. A price of S$550 million translates to about S$1,347 per square foot of potential gross floor area inclusive of development charges payable to the state.
  • LCD Global Investments on late Monday morning topped the SGX’s list of most actively-traded stocks, with as many as 312.9 million stocks changing hands as at 11.56am. LCD’s shares opened at 29 Singapore cents on Monday, up one Singapore cent from Friday’s close, and immediately spiked to a high of 30 Singapore cents within the first five minutes of trading. They were trading at 29 Singapore cents as at 11.56am, up 3.57 per cent. In June, Aspial Corporation chief executive Koh Wee Seng continued to buy shares in the company at prices above the 17 Singapore cents-per share buyout offer from Lum Chang’s Raymond and David Lum, which at that time fuelled further market talk of a counter-bid.
  • Singapore’s former prime minister Lee Kuan Yew has been presented the Global Citizen Award by US think-tank Atlantic Council for his achievements as one of “history’s longest-serving and most successful leaders”, said the council’s website. Mr Lee became prime minister of Singapore in 1959, became senior minister in 1990 and minister mentor in 2004. He stepped down in 2011 The think-tank said: “He is widely regarded as the founding father of modern Singapore, shepherding his country through a difficult independence and transforming it into one of the freest, most-robust economies in Asia.”.

STOCK RECOMMENDATION :

  • BUY JARDINE STRATEGIC HOLDING ABOVE 36.000 TG 36.250, 36.550, 36.950 SL 35.700

Fore more information about SGX stock market please feel free to visit EPIC RESEARCH PRIVATE LIMITED.

22Sep

Comex Commodity Trading Signals and Market News – 22 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in Asia on Monday with markets looking ahead to data signals on the U.S. economy and in China for the outlook on key industrial metal copper. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,215.80 a troy ounce, down 0.03%, after hitting on Friday a session low of $1,214.20 a troy ounce on Friday, a level not seen since Jan. 2. Prices recovered last week to settle at $1,216.60, down $10.30, or 0.84%, for the day. For the week, Comex gold prices lost $14.90, or 1.2%, the third consecutive weekly drop.Last week, the Federal Reserve cut its monthly bond-buying program by another $10 billion following its two-day policy meeting on September 17, keeping the program on track to finish next month. While the Fed reiterated that it expects rates to remain on hold for a “considerable time” after its quantitative easing program ends, it also projected a faster pace of rate hikes.

• U.S. natural gas futures ended Friday’s session lower, as investors monitored near-term weather forecasts to gauge the strength of demand for the fuel. On the New York Mercantile Exchange, natural gas for delivery in October shed 7.3 cents, or 1.87%, to settle at $3.837 per million British thermal units by close of trade on Friday.A day earlier, natural gas prices plunged 10.3 cents, or 2.57%, to end at $3.910.Futures were likely to find support at $3.786 per million British thermal units, the low from September 12 and resistance at $4.027, the high from September 18. On the week, Nymex natural gas prices lost 2.0 cents, or 0.51%. The U.S. Energy Information Administration said that natural gas storage in the U.S. rose by 90 billion cubic feet last week. Inventories rose by 48 billion cubic feet in the same week a year earlier, while the five-year average change is a build of 71 billion cubic feet.

• A stronger U.S. dollar coupled with concerns the world is awash in crude sent oil futures falling on Friday. A firmer greenback makes oil less attractive on dollar denominated exchanges, especially in the eyes of investors holding other currencies. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded down 0.43% at $91.58 a barrel during U.S. trading. New York-traded oil futures hit a session low of $91.16 a barrel and a high of $92.24 a barrel. The November contract settled down 1.31% at $91.98 a barrel on Thursday. Nymex oil futures were likely to find support at $89.76 a barrel, Monday’s low, and resistance at $94.12 a barrel, Tuesday’s high.Concerns that global oil supply is outstripping demand sent crude futures falling on Friday.

RECOMMENDATION :

  • BUY GOLD ABOVE 1218 TGT 1222,1227 SL 1213
  • SELL GOLD BELOW 1210 TGT 1206,1200 SL1215

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

22Sep
forex-trading3

IForex Market Trading Signals and News of 22 September 2014

TRADING TIPS :

  • Forex-Dollar broadly supported, hits fresh 6-year peak vs. yen .
  • Forex- Forex – Pound up on expectation Scotland to stay part of United Kingdom .
  • Forex-GBP/USD hits 2-1/2 week highs as Scotland rejects independence

EUR/USD
EUR/USD hit 1.2885 during European morning trade, the session low; the pair subsequently consolidated at 1.2884, sliding 0.30%The pair was likely to find support at 1.2833, Thursday’s low and a 14-month low and resistance at 1.2981, the high of September 17 The euro edged lower against the U.S. dollar on Friday, re- approaching a 14-month trough as the Federal Reserve’s latest policy statement continued to support the greenback The single currency came under some pressure on Thursday after the European Central Bank said it allotted €82.6 billion to 255 bidders in its new Targeted Long Term Refinancing Operation, or TLTRO. That was well below the €100 to €150 billion predicted by analysts..

GBP/USD
GBP/USD.hit 1.6525 during late Asian trade, the pair’s highest since September 2; the pair subsequently consolidated at 1.6449, gaining 0.32%Cable was likely to find support at 1.6327, the low of September 4 and 10- month low and resistance at 1.6615, the high of September 2. The pound strengthened as Scotland overwhelmingly rejected independence after a record turnout of voters delivered a clear victory for the No campaign on Thursday. The pound rose to two-and-a-half week highs against the U.S. dollar on Friday, as Scotland voted to remain in the U.K. after an independence referendum, while demand for the greenback still remained broadly supported. Uncertainty over what currency an independent Scotland would use, as well as concerns over how much of the U.K. national debt it would take on sparked a broad based selloff in sterling last week.

RECOMMENDATION :

1. Buy EUR/USD Above 1.2860-TG:1.2880/1.2905 SL 1.2830
2. Sell EUR/USD Below 1.2825-TG:1.2805/1.2780 SL 1.2831

Fore more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PRIVATE LIMITED.

22Sep
sgx 22 sep 14

Financial Sgx Singapore Stock Market Trading Picks And News – 22 September 2014

MARKET UPDATES :

  • SINGAPORE Exchange (SGX) is adding new Asian foreign exchange (FX) futures contracts to augment its suite of FX offerings which will be available for trading from Oct 20. The new contracts – Chinese yuan (USD/CNH and USD/CNY), Japanese yen (USD/JPY)and Thai Baht (THB/USD) – are in line with the G-20 recommendation to encourage trading of derivatives on exchanges or electronic platforms, said SGX in a statement. FX, as an asset class, is highly complementary to SGX’s equities and commodities franchise. The enhanced FX suite widens the window for even more investors to tap on the growth opportunities across major Asian markets and manage their currency.
  • SINGAPORE shares end 0.24 per cent higher on Friday.The Straits Times Index closed up 7.76 points at 3,305.05. Some 1.75 billion shares valued at S$1.2 billion changed hands. Gainers beat losers 266 to 198.
  • Singapore will be counting on its marquee Formula One race to help make up for a 30 per cent drop in Chinese tourists this year The three-day event, including the night street race, clocks more than S$100 million (US$80 million) in tourism receipts and opens a window on the country for a global television audience. Tourist arrivals dropped nearly 3 per cent in the first half of this year – the first such decline since the casinos opened in 2010.
  • The British pound rose sharply after the Scottish independence vote indicated Scotland would remain in the United Kingdom, while Wall Street’s overnight gains and Alibaba Group’s red-hot initial public offering underpinned Asian shares. The cheer was expected to spread to European bourses, where financial spreadbetters predicted Britain’s FTSE 100 would open up by 78-79 points, or 1.2 per cent; Germany’s DAX was seen opening 70-72 points, or 0.7 per cent higher; and France’s CAC 40 was expected to rise by 13-14 points, or 0.3 per cent.
  • LOYZ Energy said it was served a writ of summons by Advance Capital Partners Pte Ltd claiming that the firm had failed to repay a S$4 million loan. Having sought legal advice on the alleged claim, Loyz Energy said it was “without merit” and intends to “vigorously defend” itself. The writ of summons is not expected to have any material impact on the oil and gas exploration firm’s financial position for the current financial year ending June 30, 2015. Its shares fell 0.6 Singapore cent or 3 per cent to 19.3 Singapore cents in early morning trade on Friday.

STOCK RECOMMENDATION :

  • BUY JARDINE STRATEGIC HOLDING ABOVE 36.300 TG 36.500, 36.800, 37.200 SL 36.050

Fore more information about SGX stock market please feel free to visit EPIC RESEARCH PRIVATE LIMITED.

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