Daily Archives: February 19, 2016


Singapore : Oil prices fall on oversupply concerns after US crude stocks hit record


  • Oil futures fell in Asian trade on Friday as a record build in U.S. crude stocks stoked concerns about global oversupply, outweighing moves by oil producers including Saudi Arabia and Russia to cap oil output.
  • U.S. crude inventories rose by 2.1 million barrels last week, to a peak of 504.1 million barrels, the third week of record highs in the past month, data from the U.S. government’s Energy Information Administration (EIA) showed on Thursday.
  • That came as Iraq’s oil minister Adel Abdul Mahdi said on Thursday that talks would continue between OPEC and non-OPEC members to find ways to restore “normal” oil prices following a meeting on Wednesday.
  • “The market is expecting continuing inventory builds,” said Tony Nunan, oil risk manager at Japan’s Mitsubishi Corp in Tokyo.

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Kuala Lumpur : Genting Singapore’s results within expectations


  • Maybank Kim Eng said Genting Singapore Plc’s fourth quarter to Dec 31, 2015 financial results was within its expectations and maintains a “hold” call and target price of 78 Singapore cents.
  • “Fourth quarter 2015 results were within our expectations. While the final dividend per share of 1.5 cents was 50% higher than our estimate, the dividend yield remains lukewarm at 2.1%. Fourth quarter VIP volumes continue to ease, but to be fair, we note that the fourth quarter provision for doubtful debts was an intra-year low.
  • “More importantly, the high margin mass market remains resilient. Genting Singapore also disposed substantially all of its portfolio investments that generated exceptional losses in the past,” Maybank Kim Eng said.
  • For the fourth quarter ended Dec 31, Genting Singapore posted S$21.96mil in net profit, 82% down from S$118.81mil in the previous corresponding period. Revenue for the quarter fell 14% to S$547.4mil from S$637.87mil previously.
  • Genting Singapore,  which is 53%-owned by Genting Bhd, said its net profit fell 70% to S$193.06mil for the financial year ended Dec 31, 2015 (FY15) from S$635.21mil a year ago. Revenue for the year fell 16% to S$2.4bil from S$2.86bil in FY14.
  • Maybank Kim Eng said Genting Singapore reported a fourth quarter net loss of S$7.8mil due to S$70.2mil in exceptional losses. That said, fourth quarter FY15 core net profit of S$62.5mil brought 2015 core net profit to S$267.6mil, which was within expectations at 92% of Maybank’s full year estimate.

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Comex Trading Signals and Market News – 19 February 2016


  • Oil rose towards $35 a barrel on Thursday after Iran welcomed plans by Russia and Saudi Arabia to freeze output and an industry report showed a surprise drop in U.S. inventories.The gain added to a more than 7 percent surge in the previous session, which came even though analysts said the market had overreacted to Iran’s support for the caps and the Russian-Saudi move would not likely reduce the global surplus.
  • Gold futures edged lower in Europe trade on Thursday, but held above the $1,200-level amid indications the Federal Reserve could slow the pace of U.S. interest rate hikes.Gold for April delivery on the Comex division of the New York Mercantile Exchange shed $4.10, or 0.34%, to trade at $1,207.30 by 08:55GMT, or 3:55AM ET.
  • Natural Gas futures surged by over 2 per cent in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as short-term weather forecasts suggested cooler weather across parts of the US bolstering the demand outlook for the heating fuel in the world’s biggest gas consuming nation.About 49 per cent of US households use natural gas for heating purposes.


  • Bank of England Deputy Governor Jon Cunliffe said on Thursday he had seen nothing to justify market moves in the last month that have pushed back expectations for the BoE’s first interest rate hike towards the end of the decade. Cunliffe said market pricing of the BoE’s first rate hike had been pushed out by two years compared with only a month ago, into the second quarter of 2019.
  • International lenders are concerned with the quality of reforms in Greece, in exchange for which Athens is getting loans, the chairman of euro zone finance ministers Jeroen Dijsselbloem told the European Parliament’s economic committee on Thursday.Dijsselbloem said that while politically difficult for the Greeks, the government still needed to implement a reform of the pension system and tackle a number of fiscal issues as agreed under a first batch of reforms.
  • India is preparing to pump in a higher-than-anticipated capital sum into poorly performing state banks, government sources said, a move that could see New Delhi infuse as much as $34 billion additionally and make it harder to hit planned deficit targets.Prime Minister Narendra Modi’s government in August pledged to put in 700 billion
    rupees ($10.2 billion) into state-run banks through four years to March 2019 as part of a broader banking reforms
    programme It had then said the lenders would raise another 1.1 trillion rupees from the financial markets.


  • BUY GOLD ABOVE 1210 TARGET 1215 1221 SL 1204
  • SELL GOLD BELOW 1200 TAGRET 1195 1189 SL 1230

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IForex Market Trading Signals and News – 19 February 2016


  • Forex -Dollar slips lower against yen, euro steady
  • Forex – Aussie drops on weak jobs data, kiwi edges higher
  • Forex – Loonie leads commodity currencies higher, dollar subdued

The EUR/USD pair found fresh bids near 1.1125 region and now crawls higher towards daily highs, mainly backed by broad based US dollar weakness. EUR/USD trades 0.13% higher at 1.1141, heading for a retest of daily highs reached at 1.1150 in late-Asia. The main currency pair was caught by a fresh bid wave after the US dollar fell further into the red against its major peers as the European traders continue to assess the dovish Fed minutes heading into the ECB Jan meeting accounts release.Further, the bulls continue its fight to take-out 1.1150 barrier, as the renewed optimism in the European indices weigh on the safe-haven currency EUR. Germany’s DAX erased losses and now rises 0.40%, while the pan- European benchmark, the Euro Stoxx also regains momentum and advances 0.60%.

The British pound is now picking up pace vs. the greenback, sending GBP/USD to session highs beyond the 1.4300 barrier.Spot has managed to retake levels above 1.4300 the figure after BoE’s Jon Cunliffe has argued he sees no reason to change his outlook on a rate hike by the central bank.The comments have brought in some relief to the sterling, which was trading in lows near 1.4260 area vs. the US dollar.Ahead in the day, US Initial Claims and the Philly Fed Survey will take centre stage later in the NA session, while Retail Sales are next on tap in the UK economy tomorrow.As of writing the pair is up 0.14% at 1.4309 facing the next hurdle at 1.4399 (20-day sma) followed by 1.4522 (38.2% Fibo of 1.5240- 1.4079) and finally 1.4621 (55-day sma). On the other hand, a breach of 1.4200 (psychological level) would aim for 1.4171 (low Jan.26) and then 1.4147 (low Jan.29).


  • BUY GBP/USD ABOVE 1.4330 TARGET 1.4350 1.4380 SL 1.4300
  • SELL GBP/USD BELOW 1.4270 TARGET 1.4250 1.4220 SL 1.4300

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SGX : Singapore shares open lower on Friday

Market updates :

  • Singapore stocks opened lower on Friday following an overnight pullback in US markets, with the Straits Times Index declining by 0.15 per cent or 3.92 points to trade at 2,653.65 as at 9.02am.
  • Losers just edged out gainers 63 to 61, with 47.1 million shares worth S$73.8 million traded.
  • Blue chips led the early actives. Casino operator Genting Singapore rose 1.4 per cent or one Singapore cent to 71.5 Singapore cents after posting a net loss of S$7.75 million in the fourth quarter of 2015.
  • Property developer CapitaLand eased 2.1 per cent or six Singapore cents to change hands at S$2.85.

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Financial Sgx Singapore Stock Market Trading Picks And News – 19 February 2016


  • The Straits Times Index (STI) ended 43.78 points or 1.67% higher to 2657.57, taking the year-to-date performance to -7.81%.
  • The top active stocks today were SingTel, which gained 1.90%, DBS, which gained 2.13%, CapitaLand, which gained 1.75%, UOB, which gained 0.29% and Global Logistic, with a 2.74% advance.
  • The FTSE ST Mid Cap Index gained 1.54%, while the FTSE ST Small Cap Index rose 0.80%.
  • The outperforming sectors today were represented by the FTSE ST Oil & Gas Index, which rose 3.19%. The two biggest stocks of the Index – Keppel Corp and Sembcorp Industries – ended 2.31% higher and 5.14% higher respectively.
  • The underperforming sector was the FTSE ST Technology Index, which slipped 0.21%. Silverlake Axis shares remained unchanged and CSE Global declined 1.18%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : IS MSCI India 100 (+1.35%), STI ETF (+1.53%), DBXT MSCI Indonesia ETF10 (-0.08%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Capitamall Trust (+0.96%), Ascendas REIT (+3.42%), Mapletree Gcc Tr (+5.36%)
  • The most active index warrants by value today were : HSI19800MBeCW160330 (+15.73%), HSI18400MBePW160330 (-17.69%), HSI19600MBePW160226 (-25.00%)
  • The most active stock warrants by value today were : DBS MB eCW161004 (+10.27%), KepCorp MBeCW161212 (+8.05%), KepCorp MB eCW161205 (+8.14%)


  • BUY NOBLE ABOVE 0.380 TARGET 0.410 0.440 SL 0.340

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