Daily Archives: March 18, 2019


Singapore Stocks Watch: STI resumes Monday afternoon at 3,212.15, up 0.37% on day

Singapore Stocks Watch:

SINGAPORE stocks edged up as exchanging continued on Monday evening, with the Straits Times Index rising 0.37 percent or 11.97 indicates on the day 3,212.15 as at 1.01pm.

Gainers dwarfed failures 167 to 156, after 433.6 million securities worth S$401.4 million changed hands.

Among the most intensely exchanged by volume, ICP tumbled to S$0.008 with 26 million offers exchanged. Rex International exchanged up at S$0.084 with 22.4 million offers trading hands.

Singapore’s 2019 GDP development gauge to direct to 2.4% on outside headwinds

The Institute of Chartered Accountants in England and Wales (ICAEW) is anticipating that Singapore’s GDP development should direct to 2.4% in 2019 from 3.2% in the earlier year, against the scenery of an all the more difficult condition for fares and the assembling area.

This is as per the organization’s most recent Economic Insight: South-East Asia report, which is created by Oxford Economics, the foundation’s accomplice and monetary forecaster.

ICAEW’s anticipated 2019 GDP development figure for Singapore comes in hardly lower than the 2.5% extension expected by expert forecasters by the Monetary Authority of Singapore (MAS) in March.

The establishment is likewise expecting a backing off of monetary development over the Southeast Asian area to 4.8% this year from 5.1% in 2018 – due to slower send out development in the midst of expanded exchange protectionism, just as slower Chinese import request – before facilitating further to 4.7% in 2020.

In a public statement on Monday, ICAEW takes note of that despite the fact that Singapore’s gently expansionary Budget for 2019 leaves “space to intercede” should monetary conditions decline forcefully, its drives, for example, the Bicentennial Bonus for low-pay people are probably not going to prompt any noteworthy bob in family unit going through this year.

As indicated by the report, family unit spending is relied upon to back off from that of 2018 as higher local financing costs, just as negative riches impacts because of the fall in value costs in 2018, will decrease by and large family going through influence this year.

ICAEW additionally expects lazy private speculation and rising headwinds confronting business venture to prompt a balance in local interest this year, with corporate benefit force to relax due to hosed private and financial specialist suppositions because of exchange protectionism.

In any case, ICAEW trusts Singapore’s administration ongoing measures to help organizations and empower venture, especially in adjusting to Industry 4.0, will keep on supporting speculation exercises throughout the following year and a half to come.

Reasonably higher business development is additionally prone to help wage development of around 3.7% this year, which is like 2018, it includes.

“Looking forward, we anticipate that the dangers should the financial viewpoint of the area to be fundamentally to the drawback. A more honed log jam in Chinese monetary development activated by compounding certainty or a recharged heightening in US-China exchange strains would all influence worldwide exchange and development over the locale,” says Sian Fenner, ICAEW financial counsel and lead Asia business analyst for Oxford Economics.

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  • The kings of precious metals, gold and palladium, are both vying for world attention with major price milestones achieved on Friday from global growth fears and a Russian export ban, respectively. U.S. gold futures, as well as globally-traded bullion, moved above the key $1,300 perch after official suggestions of more downward pressure on China’s economy and weakening in U.S. employment trends and New York State manufacturing data.
  • Forget China’s growth, for now — the U.S. might be a bigger problem as New York manufacturing data showed on Friday, casting more economic worries for oil. Both U.S. West Texas Intermediate crude and U.K. Brent oil dipped slightly after the Empire State Manufacturing Index slumped to a reading of 3.70 for March, its third consecutive monthly reading below 10 and the lowest since May 2017.
  • The Trump administration is likely to open up portions of the Atlantic to oil and gas drilling despite opposition from East Coast states, a U.S. Interior Department official suggested in remarks at a recent energy industry conference, a recording of which was reviewed by Reuters. The comments come as the administration of President Donald Trump prepares to release a new five-year drilling plan proposal for federal waters that could vastly expand available acreage, part of its broader agenda to maximize U.S. oil, gas and coal production.



  • Subsidies will be granted to lure talent from outside mainland China to support development of the Greater Bay Area, a project aimed at deepening integration between Hong Kong and southern Guangdong province, the Ministry of Finance’s tax bureau said on Saturday. The subsidies will be provided in nine cities in southern China to individuals from Hong Kong, Macao, and Taiwan and other parts of the world, according to a document released by the bureau.
  • Brazil does not expect the U.S. government to announce support for its bid to join a club of the world’s advanced economies when its President Jair Bolsonaro visits Washington next week, a senior member of his economic team told Reuters on Friday. Brazil, the world’s eighth-largest economy, applied in 2017 to join the Organization for Economic Cooperation and Development (OECD), a forum of three dozen advanced economies that includes Mexico, Chile and Colombia.
  • Turns out that billionaire investor Warren Buffett doesn’t love Modern Monetary Theory either. “I’m not a fan of MMT — not at all,” the Berkshire Hathaway Inc . chief executive officer said Friday in a telephone interview, adding that the deficit spending that’s part of the theory could risk “spiraling” inflation. “We don’t need to get into danger zones, and we don’t know precisely where they are.” Buffett joins critics including Federal Reserve Chairman Jerome Powell, former U.S. Treasury Secretary Larry Summers, Blackrock Inc .


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