Daily Archives: March 6, 2019

6Mar

Singapore Stocks Watch: STI resumes Wednesday evening at 3,232.06, down 0.1% on day

Singapore Stocks Watch: SINGAPORE stocks stayed delicate as exchanging continued on Wednesday evening, with the Straits Times Index declining 0.06 percent or 2.01 indicates on the day 3,232.06 as at 1.05pm after a frail morning.

Gainers dwarfed washouts 172 to 137, or around five securities up for each four down, after 627.6 million securities worth S$429.0 million changed hands.

Among the most vigorously exchanged by volume, Nico Steel Holdings progressed 20.0 percent or S$0.001 to S$0.006 with 44.2 million offers exchanged. Yangzijiang Shipbuilding Holdings fell 0.7 percent or S$0.01 to S$1.39 with 18.1 million offers exchanged.

Dynamic file stocks included DBS Group Holdings, up 0.1 percent or S$0.03 to S$25.46; and OCBC Bank, up 0.4 percent or S$0.05 to S$11.25

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Singapore eyes raising retirement and re-work age

CPF payout qualification age would stay at 65.

Priest for Manpower Josephine Teo declared amid her discourse at the Committee of Supply 2019 that the Tripartite Workgroup on Older Workers is hoping to raise the retirement and re-business age of 62 and 67 individually.

Teo said that raising the retirement age (RA) would additionally spur laborers and bosses to put resources into abilities overhauling and work upgrade for senior specialists, while raising the re-work age (REA) would offer the adaptability to reset occupations and help managers alter with business vulnerabilities.

Teo guaranteed that these will “be actualized in little strides after some time” for businesses to make changes. CPF payout qualification age will stay at 65.

“In the following period of its work, the Workgroup will construct a tripartite agreement on (a) how far and how quick the RA and REA ought to be raised, and (b) the CPF commitment rates for more seasoned laborers, adjusting the need to help improve retirement ampleness and support employability for our more seasoned specialists,” Teo said.

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6Mar

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 seems to depend, at least for now, on one factor: China. Prices of the yellow metal remained in negative territory for a seventh straight session on Tuesday. The dip, however, was modest as buying emerged at the lower level on news that China had targeted slower growth for 2019 amid its unresolved trade war with the United States. Gold futures for April delivery settled down $2.80 at $1,284.70 per ounce on the Comex division of the New York Mercantile Exchange.
  • Malaysia will present legal and technical arguments this week against an EU plan to limit the use of palm oil, the head of the country’s marketing agency said on Tuesday, opposing a move that could lead to an eventual ban on the edible oil. The European Commission last month said the use of palm oil in motor fuel should be phased out because oil palm cultivation led to deforestation.
  • Oil prices fell nearly 1 percent on Wednesday as bullish output forecasts by two big U.S. producers and a build in U.S. crude stockpiles outweighed ongoing OPEC-led efforts to rein in crude production. International Brent futures were down 55 cents, or 0.8 percent, at $65.31 a barrel at 0209 GMT. U.S. West Texas Intermediate (WTI) crude futures were at $56.05 per barrel, down 51 cents, or 0.9 percent.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Britain’s 800-year-old parliament has a big decision to make, and little time to make it. After months of drama and delay, the country’s fate could be decided next week in a series of Brexit votes in which lawmakers must choose one of two wood-panelled corridors to shuffle down inside the neo-gothic Westminster palace. Each vote, known as a division, takes about 15 minutes. If it takes too long, the Serjeant-at-Arms, dressed in shiny black shoes, knee-high socks and a long woollen suit, will be sent bearing a ceremonial sword to investigate.
  • Bank of Japan board member Yutaka Harada said on Wednesday the central bank must ramp up stimulus without delay if risks to the economy threaten achievement of its inflation target. Harada, a vocal advocate of aggressive monetary easing, said Japan’s economy was facing growing risks, including from slowing demand in China, simmering trade tensions, volatile stock price moves and weak private consumption.
  • Britain’s scheduled departure from the European Union on March 29 will be delayed by a few months, a Reuters poll found, and a majority of economists say the two sides will eventually agree a free-trade deal. Prime Minister Theresa May is seeking to rework the Brexit deal she agreed with EU leaders and has raised the possibility of a delay of the departure date until June. All but three of 54 economists who answered an extra question in the Feb. 28-March 5 poll said the more than four-decade marriage between Britain and the EU would not be dissolved in a little over three weeks time as planned.

GOLD TRADING FORECAST TODAY

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