Daily Archives: December 24, 2018

24Dec

Singapore Stocks Update :STI bound to exchange between 2,800-3,200: OCBC

Singapore Stocks Update :
OCBC Investment Research is anticipating for the Straits Times Index (STI) to exchange as high as 4,125 of every 2019 of every a bull case situation.

As at Dec 5 this year, the record exchanged at 3,156, 18% higher than Bloomberg’s objective of 3,721.

The examination house’s base case is for the STI to exchange at around 3,632 with a potential upside of 17% from Dec 5 levels, in view of 7% profit development and a seven-year authentic normal value income proportion (PER) of 13.9 occasions.

Notwithstanding, with current macroeconomic vulnerabilities and a more drawback predisposition, it trusts the STI may almost certainly exchange between the 2,800-3,200 dimensions.

In a Dec 2018 report, Carmen Lee, head of OCBC Investment Research, suggests concentrating on an incentive over development stocks in the year ahead as the STI keeps on following greater markets in the area.

While Lee sees more activities emerging from Singapore’s endeavors to wind up a shrewd country, she accepts customarily considered protective stocks are probably going to stay in play.

“At current valuations, valuations for the STI are not costly versus other local markets and its own authentic patterns. At current dimensions, the STI is exchanging at – 1 standard deviation beneath the authentic normal for both value profit and value book,” notes Lee.

“On the worldwide front, a few expansive subjects may keep on playing out including computerized and portable installments, gaming and online games, the notoriety of collaborating space, elevated barrier spending, proceeded with accentuation on training and the earth,” she includes.

As at 11.24am, the STI is exchanging 1.77 focuses bring down at 3,044.27.

24Dec

COMEX MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold traders will continue to monitor political risks and watch developments in equity markets in the week ahead, after the failure by the U.S. Congress and President Donald Trump to agree to a spending bill by midnight Saturday resulted in a partial U.S. government shutdown. Gold is often sought in times of geopolitical tension or market turbulence. Elsewhere, on the data front, the U.S. will see a relatively quiet week in terms of economic releases, with reports on consumer confidence and the housing sector expected to draw the most attention.
  • OPEC and allied oil producers are ready to hold an extraordinary meeting and will do what is needed if the current cut in oil output by 1.2 million barrels per day does not balance the market next year, the United Arab Emirates’ energy minister said on Sunday.
  •  Oil prices dipped on Monday ahead of the Christmas holiday break, adding to last week’s steep losses on concerns about a global oversupply. International benchmark Brent crude (LCOc1) futures fell 27 cents, or 0.5 percent, to $53.55 a barrel at 0106 GMT. Brent touched $52.79 on Friday, its lowest since September 2017. U.S. West Texas Intermediate (WTI) crude futures (CLc1) eased 8 cents, or 0.1 percent, to $45.51 a barrel.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • U.S. President Donald Trump’s Treasury secretary called top U.S. bankers on Sunday amid an ongoing rout on Wall Street and made plans to convene a group of officials known as the “Plunge Protection Team.” U.S. stocks have fallen sharply in recent weeks on concerns over slowing economic growth, with the S&P 500 index (SPX) on pace for its biggest percentage decline in December since the Great Depression.
  • China and the United States held a vice ministerial-level call on Friday, the second such contact in a week, achieving a “deep exchange of views” on trade imbalances and the protection of intellectual property, the Chinese Ministry of Commerce said. A statement posted on the ministry’s website on Sunday said the two countries “made new progress” on those issues, without specifying further.
  • China is considering introducing a new law on foreign investment to replace three existing laws on joint ventures and wholly owned foreign firms, state news agency Xinhua reported on Sunday. A draft law on foreign investment has been submitted to the National People’s Congress (NPC) Standing Committee, according to Xinhua. The draft, which could take more than a year to be signed into law, includes policies on promoting and managing foreign investment.

GOLD TRADING FORECAST TODAY

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