MARKET UPDATES :
- MORE small- and medium-sized enterprises (SMEs) in Singapore are expanding overseas to seek sustainable revenue growth, this year’s DP SME Development Survey has found.The proportion of Singapore SMEs with overseas revenue increased in 2014 to half, after having declined last year to 46 per cent from 54 per cent in 2012. This year’s increase was seen across all turnover ranges – an indication that SMEs of all sizes are looking beyond Singapore for growth opportunities. Said Jacelyn Teo, the group director for planning in International Enterprise (IE) Singapore:
- China’s economic growth cooled to 7.3 per cent between July and September from a year earlier, the weakest expansion since the global financial crisis and reinforcing expectations that Beijing will need to roll out more stimulus to avert a sharper slowdown.With a faltering property market increasingly dragging on manufacturing and investment, the reading was the slowest for the world’s second-largest economy since early 2009, when the growth rate tumbled to 6.6 per cent.
- Singapore shares were up on Tuesday with the benchmark Straits Times Index gaining 21.69 points to close at 3,202.74.Volume was 1.13 billion shares worth S$962.8 million.Gainers outnumbered losers 229 to 182.
- CASINO Genting Singapore, which saw its share price plummet to its lowest level in more than four years recently, is worth a “hold”, as value is starting to emerge around current levels.The company is also seen as “a decent bet” as a strong contender for Japan’s potential US$10 billion integrated resort (IR) project, OCBC Investment Research said on Tuesday.But while Japan’s Prime Minister Shinzo Abe’s main ruling Liberal Democratic Party (LDP) is aiming to have a new Bill on gambling ratified in the current Diet session, opposition to the Bill has been strong, delaying a setback to operators anxious for the launch of Asia’s next big gambling market.
- SUNTEC Real Estate Investment Trust’s (Suntec Reit) distribution per unit (DPU) for the third quarter ended September 30 inched up from 2.289 Singapore cents a year ago to 2.328 Singapore cents. Total distribution income of S$58.3 million for the July 1 to Sept 30 period was 12.4 per cent higher than the previous year.On the retail portfolio, the committed occupancy for Suntec City Phase 1 and Phase 2 was 98.9 per cent while Park Mall maintained 100 per cent committed occupancy. The overall committed occupancy for the retail portfolio stood at 98.4 per cent as at Sept 30.
- SINGAPORE Exchange (SGX) on Monday launched its yuan futures. Transactions in these yuan futures reached a volume of 1,846 contracts, representing about 1.1 billion yuan (S$229 million) in notional value.
STOCK RECOMMENDATION :
- BUY CITY DEVELOPMENT LTD ABOVE 18.170 TG 18.270, 18.320, 18.490 SL 18.050