MARKET UPDATES :
- SINGAPORE shares ended higher on Monday with the benchmark Straits Times Index down 21.72 points to close at 3202.15. Volume was 1.27 billion shares worth S$947.6 million. Losers outnumbered gainers 396 to 84.
- Hong Kong shares closed 0.24 per cent higher Monday as better-than-forecast Chinese trade data helped to erase an initial sell-off fuelled by fresh Wall Street losses.The Hang Seng Index added 54.84 points to 23,143.38 on turnover of HK$67.82 billion (US$8.75 billion).But in mainland China the benchmark Shanghai Composite Index fell 0.36 per cent, or 8.53 points, to 2,366.01 on turnover of 175.4 billion yuan (US$28.6 billion). The Shenzhen Composite Index, which tracks stocks on China’s second exchange, slipped 0.08 per cent, or 1.13 points, to 1,349.47 on turnover of 202.4 billion yuan.
- SINGAPORE’S Central Provident Fund (CPF) system ranks top among similar social security systems in Asian countries, but it is Denmark’s well-funded pension system which has emerged the best globally. The 2014 Mercer Melbourne Global Pension Index identified Singapore’s CPF is a “sound structure, with many good features, but has some areas for improvement that differentiates it from an A-grade system”. The Singapore retirement system continues to score a grade of B, but is expected to be upgraded once shortcomings are addressed, said Neil Narale, Mercer’s Asean Retirement Business Leader.
- INTERNATIONAL Enterprise (IE) Singapore and Singapore Business Federation (SBF) are leading a 20- member strong business delegation to Turkey to explore new business opportunities. The mission, which is held in conjunction with Prime Minister Lee Hsien Loong’s official visit to Turkey, will look at key sectors that Singapore players can participate in. These include the consumer electronics, medtech and infrastructure sectors. Valued at US$12.4 billion in 2013, Turkey’s consumer electronics is seen as a sector with great potential.
- THE Housing & Development Board (HDB) has beaten eight other countries to win the international FutureGov Awards 2014 for service innovation, it said on Monday. The other countries are Australia, New Zealand, Indonesia, Malaysia, Thailand, the Philippines, India and the Republic of Maldives. HDB won the award for creating a new and improved customer experience through service personalisation at its Punggol branch.
- China’s exports rose more than expected in September while imports unexpectedly improved, data showed on Monday, bringing the trade surplus to US$31 billion. Exports rose 15.3 per cent in September compared with a year ago, the General Administration of Customs said, beating a median forecast in a Reuters poll for a rise of 11.8 per cent.
STOCK RECOMMENDATION :
- BUY JARDINE CYCLE ABOVE 39.900 TG 40.200, 40.500, 40.900 SL 39.600