Singapore Stocks Watch: STI resumes Monday at 3,314.38, down 0.25% on day

Singapore Stocks Watch:

SINGAPORE stocks edged lower as exchanging continued on Monday , with the Straits Times Index losing 0.25 percent or 8.26 indicates on the day 3,314.38 as at 1.02pm.

Gainers dwarfed washouts 166 to 148, after about 581.4 million securities worth S$367.8 million changed hands.

Among the most vigorously exchanged by volume, Nico Steel fell 16.7 percent, or 0.1 Singapore penny to 0.5 Singapore penny, with 23.7 million offers exchanged.

Other dynamic stocks included Mapletree Logistics Trust which increased 1.4 percent, or two Singapore pennies to S$1.46 per unit, and Singtel which lost 0.7 percent, or two Singapore pennies to S$3.07


CPO grower kept at ‘showcase weight’ on more grounded biodiesel request from Indonesia, Malaysia: UOB

Indonesia and Malaysia intends to help biodiesel commands for local utilization to dull the effect from negative exchange boundaries on palm oil.

The higher commands are relied upon to assimilate an all out biodiesel utilization of 8.7 million tons this year, up 35% from last.

The extra residential interest will help alleviate the effect of EU diminishing utilization of palm oil-based biofuel, says UOB KayHian which is looking after its “showcase weight” on the part.

The European Commission on Mar 13 illuminated the sorts of palm oil-based biofuel that might be tallied towards the EU’s sustainable power source objectives and would present another affirmation framework.

In 2017, biodiesel generation in the EU expanded from 13.55 million tons in 2017 to 13.60 million tons in 2018, with piece of the overall industry dropping from 38% of worldwide creation to 33%.

This year, Oil World conjectures biodiesel generation in the EU may increment to 13.8 million tons. Be that as it may, its piece of the pie supposedly drops further to 31% for 2019 with higher biodiesel generation originating from Indonesia.

Indeed, Indonesia is relied upon to surpass the US as the world’s biggest maker and customer of biodiesel this year with a normal generation of 7.3 million, with rough palm oil (CPO) utilization of about 1.3 million tons. Malaysia is required to expend around 760,000 tons of CPO for delivering 1.4 million tons of biodiesel in 2019.

There is space for Indonesia’s biodiesel utilization to increment further by another 3 million tons if the administration lifts the biodiesel mixing order from 20% (B20) to 30% (B30). Indonesia is focusing to build the order to B30 by 2020 or perhaps prior. In the mean time, Malaysia needs to raise the 10% biodiesel mixing command to 20% by 2020.

The augmentation of the B20 order to modern use in Indonesia from Sept 1 2018 and B10 command in Malaysia from Feb 1 show the two governments’ solid responsibility to expanding household utilization and decreasing stock.

In 1Q19, CPO costs stayed frail as palm oil stock neglected to drop according to showcase desire. The surprisingly high creation in 1Q19 in Malaysia and Indonesia topped costs. What’s more, news on the EU biofuel limitation did not improve advertise feeling.

“We keep up our view that CPO costs will see a superior recuperation in 2H19 on lower creation and solid biodiesel request, and keep up normal CPO value presumption at RM2,350/ton (US$587.50/ton) for 2019,” says lead expert Leow Huey Chuen.

UOB picks incorporate Wilmar International and Bumitama Agri with target costs of $3.90 and 81 pennies separately.

As at 11.26am, shares in Wilmar are up 1 penny to $3.49 or 10.5 occasions FY20F income while Bumitama Agri is exchanging at 72 pennies or 8.4 occasions FY20F profit.

To get more latest updates and market insights, download our free sgx market report: Click Download 

Share this Story

About admin

Leave a Reply

Your email address will not be published. Required fields are marked *


© Copyright 2013, All Rights Reserved, Epic Research Pvt. Ltd.