Daily Archives: March 31, 2016


Global funds tiptoe into China’s ‘new economy’ firms


  • Global funds are cautiously venturing back into Chinese equities after prices collapsed to 4-1/2-year lows in February, taking advantage of cheaper valuations to buy stocks they believe will benefit from China’s shift to a consumption-led economy.
  • Foreign investors are tentatively buying in sectors linked to the main themes of the 13th Five-Year Plan released earlier this month, including urbanisation, consumption, internet growth, green development and innovation.
  • The MSCI China index has gained 17% since Feb 12 and while foreign investors are still net sellers the scale of net selling has shrunk to US$272 million from March 1 to 25 versus an average of US$2.1 billion over the previous four months, according to EPFR Global data.
  • Most investors are focusing on specific “new economy” industries, which make up only a small proportion of the market, while avoiding those sectors linked to the “old economy”.

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China : Profits soar at China’s big three airlines


  • China’s three biggest airlines reported soaring net profits in 2015 despite the country’s worst economic growth in a quarter of a century, as more Chinese travelled abroad.
  • Cheaper jet fuel helped the bottom line, but losses from foreign exchange hurt as China’s yuan currency slid against the dollar, they said.
  • “With the slowdown in world economic growth, and the ruggedness and hardship on the road of global recovery, China faced constant downward economic pressure,” China Southern Airlines said in a statement late on Wednesday.
  • But its net profit more than doubled last year to 3.74 billion yuan (US$575 million), it said. The figure fell just short of analysts’ expectations of 3.9 billion yuan, according to an average compiled by Blomberg News.
  • “The group seized the opportunity of decreasing fuel prices and increasing outbound tourism, which significantly improved the profit level,” said China Southern, which is Asia’s biggest airline by fleet size with 667 planes.
  • Flag carrier Air China said separately that its net profit surged 83% to 7.06 billion yuan.
  • “Although low fuel prices have helped to ease the pressure on operating costs, intensified industrial competition and substantial exchange rate fluctuations have posed severe challenges,” it said in a statement.
  • Last year, the Chinese government launched a shock devaluation of the yuan, guiding the normally stable unit nearly 5% lower, and slowing growth has maintained downward pressure on the currency.

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Comex Trading Signals and Market News – 31 March 2016


  • Gold prices were trading on a flat note on Wednesday in the midst of Fed Chair Janet Yellen’s signal of taking a cautious approach to raising US borrowing costs further dented the safe have appeal for the yellow metal. Yellen called for a slower pace of US interest rate tightening as she stressed that the rate of inflation in the US hasn’t yet proven to be sustainable in the wake of rising global risks that could slow growth in the American economy bolstering risk taking appetite.
  • Copper futures fell during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid soft physical demand for copper in the domestic spot market. Further fears of weak demand from China the world’s biggest metals consumer after the country’s biggest cities including Shanghai and Shenzhen introduced property curbs weighed on the industrial metal.
  • Crude oil prices rose by 0.39 per cent on Wednesday buoyed by a forecast for a less than expected build in crude oil stockpiles last week. The EIA is due to release official crude inventory data later on Wednesday. US crude stocks rose last week by 2.6 million barrels to 534.4 million barrels data from industry group the American Petroleum Institute showed on Tuesday.


  • Chinese President Xi Jinping said on Wednesday his country’s economy was at a new normal and shifting to a slower pace of growth than in the past.”The world economy is in the current situation going through a time of deep modifications and the situation is complicated and unstable,” he told a Czech-Chinese business forum in Prague in comments broadcast through a Czech interpreter.
  • Japanese lending rates hit a record low in February, the first month in which the central bank’s negative interest rate policy was applied, offering signs of hope for the ailing economy but underscoring the hit to commercial banks’ profit margins.The average lending rate for the balance of loans made by domestic banks stood at 1.098 percent in February, extending a record low for a fourth straight month, data released by the Bank of Japan showed on Wednesday.
  • The Asian Development Bank slashed its economic growth forecast for developing Asia this year, citing global headwinds and a weaker outlook for China.Developing Asia will expand 5.7 percent this year and in 2017, the Manila-based lender said in its latest Asian Development Outlook released on Wednesday.In its December outlook report, the ADB had forecast 2016 growth for the region at 6.0 percent. region, which groups 45 countries in the Asia Pacific, grew 5.9 percent last year.


  • BUY GOLD ABOVE 1244 TARGET 1249 1255 SL BELOW 1239
  • SELL GOLD BELOW 1234 TARGET 1229 1223 SL ABOVE 1239

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IForex Market Trading Signals and News – 31 March 2016


  • Forex – Dollar drops on doubt U.S. rates will rise at all in 2016
  • Forex -Aussie, kiwi edge higher vs. greenback on Yellen remarks
  • Forex-Dollar broadly lower after Yellen strikes cautious tone

EUR/USD trades dead flat at 1.1294, fighting hard to break through 1.1300 levels. The main currency pair is seen consolidating the upside in the Asian trades, having witnessed a 120-pips massive rally on Tuesday following the dovish comments from Fed Chair Yellen. The major jolted higher in the previous session and climbed to fresh weekly highs at 1.1303 as the US dollar was heavily offered after Yellen sounded concerned over the global economic developments and hence, turned cautious with regard to the monetary policy path. Markets now gear up for fresh macro data from Germany as well as the US, which are expected to have major impact on the EUR/USD pair. We have the German Prelim CPI figures and ADP employment report from the US on the cards this Wednesday.

The Sterling rallied with London opening, up to 1.4450 against the greenback, from where the pair is currently retreating, towards the 1.4400 region. Once again, the UK calendar remained empty, with dollar ́s weakness being the main market driver. With stocks rallying across the world, there’s little room for dollar gains later today, albeit the release of the US ADP report may gave the greenback a short lived boost if it beats expectations. Crude oil stockpiles may also affect the Pound, as another surprise rise may send the currency lower. In the meantime, the 4 hours chart shows that the technical indicators are beginning to look exhausted towards the upside in overbought territory, suggesting the downward corrective move may extend, particularly on a break below 1.4360, the immediate support. Nevertheless, the dominant trend is still bullish, and the market will probably prefer to buy the dips. Only below 1.4330, the 61.8% retracement of the latest bearish run, the downside potential will increase, exposing then the 1.4250 static support.


  • BUY GBP/USD ABOVE 1.4450 TARGET 1.4470 1.4500 SL BELOW 1.442
  • SELL GBP/USD BELOW 1.4368 TARGET 1.4348 1.4318 SL ABOVE 1.4398

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Financial Sgx Singapore Stock Market Trading Picks And News – 31 March 2016


  • The Straits Times Index (STI) ended 53.7 points or 1.9% higher to 2872.78, taking the year-to-date performance to -0.35%.
  • The top active stocks today were DBS, which gained 2.04%, SingTel, which gained 1.58%, OCBC Bank, which gained 1.47%, UOB, which gained 2.97% and Global Logistic, with a 2.90% advance.
  • The FTSE ST Mid Cap Index gained 1.12%, while the FTSE ST Small Cap Index rose 0.91%.
  • The outperforming sectors today were represented by the FTSE ST Oil & Gas Index, which rose 3.10%. The two biggest stocks of the Index – Keppel Corp and Sembcorp Industries – ended 3.29% higher and 3.36% higher respectively.
  • The underperforming sector was the FTSE ST Basic Materials Index, which slipped 0.13%. Midas Holdings shares remained unchanged and Geo Energy Resources gained 1.72%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (+1.83%) ,IS MSCI India 100 (+0.91%), DBXT MSCI Indonesia ETF 10 (+2.72%)
  • The three most active Real Estate Investment Trusts (REITs) by value were: Ascendas REIT (-0.41%) , Capitamall Trust (unchanged), Capitacom Trust (+1.01%)
  • The most active index warrants by value today were : HSI21000MBeCW160428 (+36.11%), HSI19200MBePW160530 (-27.84%), HSI21400MBeCW160530 (+34.67%)
  • The most active stock warrants by value today were : DBS MB eCW160711 (+12.82%), KepCorp MBeCW161212 (+10.38%), DBS VT eCW160916 (+8.44%).


  • BUY TECH OIL & GAS AT CMP 0.200 TARGET 0.210 0.220 SL 0.185

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