- Taiwan stocks stayed flat near 14-month highs on Thursday, in line with other overseas markets, with TSMC and other suppliers of Apple Inc remaining little changed following the launch of new iPhones.
- As of 0343 GMT, the main Taiex index was up 7 points at 9,266.63, after hitting its highest intraday level in 14 months in the prior session.
- The electronics subindex was nearly flat, while the financials subindex gained 0.2 per cent.
- Taiwan Semiconductor Manufacturing Co (TSMC), an Apple supplier and the world’s biggest contract chip maker, was trading flat.
- The Taiwan dollar softened NT$0.043 to NT$31.283 per US dollar.
Daily Archives: September 8, 2016
MARKET UPDATES :
- The Straits Times Index (STI) ended 2.9 points or 0.10% lower to 2893.65, taking the year-to-date performance to +0.38%.
- The top active stocks today were DBS, which gained 0.78%, UOB, which gained 0.16%, Singtel, which closed unchanged,
Noble, which closed unchanged and OCBC Bank, with a 0.23% advance.
- The FTSE ST Mid Cap Index declined 0.11%, while the FTSE ST Small Cap Index rose 0.27%.The outperforming sectors today were represented by the FTSE ST Technology Index, which rose 2.50%.
- The two biggest stocks of the Index – Silverlake Axis and CSE Global- ended 2.94% higher and 3.49% lower respectively.
- The underperforming sector was the FTSE ST Industrials Index, which slipped 0.83%. Jardine Matheson Holdings shares
declined 0.33%and Jardine Strategic Holdings declined 0.87%.
- The three most active Exchange Traded Funds (ETFs) by value today were:
SPDR Gold Shares (+1.50%) ,IS MSCI India (-0.27%) ,STI ETF (-0.68%)
- The three most active Real Estate Investment Trusts (REITs) by value were:
Ascendas REIT (unchanged) ,CapitaLand Mall Trust (-0.46%) ,CapitaLand Commercial Trust (-1.23%)
- The most active index warrants by value today were:
HSI23800UBeCW161229 (unchanged) ,HSI23800MBeCW160929 (-9.52%) ,HSI23600VTeCW161028 (unchanged)
- The most active stock warrants by value today were:
DBS MB eCW170201 (+7.63%) ,DBS VT eCW170213 (unchanged) ,UOB MB eCW170201 (+1.89%).
STOCK RECOMMENDATION :
- BUY SINGMEDICAL ABOVE 0.325 TGT 0.340 0.355 SL 0.310.
INTERNATIONAL CURRENCY BUZZ
- Forex – Dollar broadly weaker on Fed rate hike doubts.
- Forex – GBP/USD slides lower after U.K. data disappoints.
- Forex – Aussie edges lower after GDP data, kiwi hits 16-month high.
EURUSD closed above 1.1200 yesterday with price action now likely to stay flat within 1.1300 – 1.1270 price level into tomorrow’s ECB meeting. In the near term, expect the price to dip towards 1.12 on the minor bearish divergence that is formed on the chart.Resistance at 1.1270 – 1.1280 remains key to the upside, and a break out above this resistance could keep the bullish momentum send EURUSD to test 1.1300 followed by 1.1341.A possible reversal near the resistance level could, however, signal a near-term weakness,which could be confirmed if EURUSD breaks down below 1.1200.
The pound slid lower against the U.S. dollar on Wednesday, after data showing that U.K. manufacturing production fell more than expected in July dampened optimism over the strength of the economy. GBP/USD hit 1.3378 during European morning trade, the session low; the pair subsequently consolidated at 1.3388, shedding 0.36%.Cable was likely to find support at 1.3292, Tuesday’s low and resistance at 1.3446, Tuesday’s high and a one-and-a half month peak.The U.K. Office for National Statistics said that manufacturing production decreased by 0.9% in July, worse than expectations for a decline of 0.4% and following a drop of 0.2% a month earlier that was revised from an initial 0.3% decline.On an annualized basis, manufacturing production rose 0.8% in July, worse than forecasts for a 1.7% increase.However, the report also showed that industrial production inched up by 0.1% in July, better than forecasts for a 0.2% decrease and following the 0.1% gain in the preceding month.
- BUY GBP/USD ABOVE 1.3445 TGT 1.3465 1.3495 SL 1.3415.
- SELL GBP/USD BELOW 1.3355 TGT 1.3335 1.3305 SL 1.3385.