27Jul

Singapore Stock Watch: Singapore Airlines drops after Q1 comes about miss desires

Singapore Stock Watch:
Singapore Airlines fell 5 for every penny on Friday in the wake of first-quarter comes about that missed the mark concerning examiners’ desires.

The counter fell consistently in the wake of opening at S$10.46 on Friday morning and was down 5.3 for every penny or 57 Singapore pennies to S$10.23 at 3.06pm, with nearly 5.1 million offers evolving hands.

The national aircraft had detailed subsequent to exchanging hours on Thursday that net benefit for the three months finished June 30 fell 58.6 for every penny to S$139.6 million, weighed by an about 40 for each penny increment in its normal stream fuel cost.

OCBC Investment Research kept up a “hold” rating on the stock, with a reasonable esteem gauge of S$11.01, down from S$11.30 already, taking note of that traveler movement is required to develop in coming months, however rivalry in key working markets continues and cost weights remain.

UOB Kay Hian likewise looked after its “hold” suggestion and had its objective cost of S$11.90 under survey. The firm said that SIA’s center net benefit development, which bars remarkable things, surpassed its desires, however that was for the most part because of bookkeeping changes. UOB Kay Hian likewise noted higher-than-anticipated load yields of 9.9 for every penny, versus its 5.5 for each penny evaluate, and an unexpected 22 for each penny year-on-year decrease in air ship renting cost.

26Jul

SINGAPORE Watch:Singapore tycoons grew wealthier in 2018, new Forbes rich list reveals

SINGAPORE Watch: The specific wealthy in Singapore have become wealthier, as per the 2018 Forbes Singapore Rich List.

The consolidated abundance of the nation’s main 50 investors rose 11 for each penny to almost US$116 billion (S$157 billion) up from $104.6 billion a year ago, Forbes Asia said in a news discharge on Thursday (Jul 26).

The current year’s greatest dollar gainers were property kin Robert and Philip Ng and Facebook fellow benefactor Eduardo Saverin, who is a Singapore changeless occupant.

The Ngs, who held their main spot for the ninth year with US$11.9 billion, helped their total assets by US$2.5 billion, while the Facebook prime supporter – who likewise observed his fortune up $2.5 billion – arrived in a nearby second with a total assets of US$11.8 billion.

The Ngs’ Far East-drove consortium “scored a triumph” in May by securing a prized blended utilize site in the prominent Holland Road region with a US$904 million offer, prevailing over in excess of twelve different wannabes, said Forbes Asia.

Holding the third spot was paint head honcho Goh Cheng Liang, who has a 39 for every penny stake in Japan’s Nippon Paint Holdings. His total assets expanded by US$700 million to US$8.5 billion. His child Goh Hup Jin was named executive of Nippon Paint in March.

New Zealander and Singapore changeless occupant Richard Chandler was another billion-dollar gainer, bouncing four spots to recover a spot in the best 10.

His total assets rose to US$3.15 billion, putting him at number eight, after his Singapore-headquartered Clermont Group’s net resources surged 50 for each penny on undisclosed venture increases, as indicated by official filings.

Fellow benefactor of ARA Asset Management John Lim was another striking gainer. Lim, who claims near 33% of ARA, saw his fortune hop by in excess of a third, putting him at number 38 on the rundown with a total assets of US$780 million.

Three newcomers made it onto the current year’s rundown: China-conceived Singapore perpetual occupant Gordon Tang, who has a controlling stake in recorded property firm SingHaiyi Group, made it to number 32 with a total assets of US$1 billion.

Bangladesh-conceived Singapore perpetual inhabitant and executive of Summit Group Muhammed Aziz Khan, who intends to list his Summit Power International on the Singapore trade, came in at number 34 with a total assets of US$910 million.

Forrest Li, who recorded his web based gaming firm Sea on the New York Stock Exchange in October 2017, put at number 42 with US$738 million.

The base sum required to make the rundown was US$535 million, down from US$540 million a year ago.

The main 10 most extravagant in Singapore:

1. Robert and Philip Ng; US$11.9 billion

2. Eduardo Saverin; US$11.8 billion

3. Goh Cheng Liang; US$8.5 billion

4. Kwek Leng Beng; US$7.6 billion

5. Khoo family; US$6.7 billion

6. Small Cho Yaw; US$6.4 billion

7. Kwee siblings; US$5.4 billion

8. Richard Chandler; US$3.15 billion

9. Raj Kumar and Kishin RK; US$2.7 billion

10. Choo Chong Ngen; US$2.6 billion

26Jul

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

TODAY’S COMEX GOLD SIGNAL

 COMEX GOLD SIGNAL

TODAY’S COMEX GOLD SIGNAL

TODAY’S COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices slipped for two consecutive days as dollar slightly rose on Wednesday ahead of a meeting between and U.S. and European Commission presidents for trade-related talks. Gold Futures for August delivery on the Comex division of the New York Mercantile Exchangeis was down 0.11% to a trading price of $1,224.10 each troy ounce at 1:00AM ET (05:00 GMT).
  • Qatar is building a sugar refinery in a bid to avoid supply disruptions after neighboring Gulf Arab states severed economic and political ties with Doha more than a year ago, sources say. In normal trading conditions, building a refinery in Qatar would make little commercial sense because of depressed sugar prices, surplus world stocks and the presence of regional refineries that could provide supplies, the sources said.
  • U.S. crude stocks fell last week, while gasoline and distillate inventories also declined, the Energy Information Administration said on Wednesday. Crude inventories fell by 6.1 million barrels in the week to July 20, compared with analysts’ expectations for a decrease of 2.3 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.1 million barrels, EIA said. Refinery crude runs rose by 46,000 barrels per day, EIA data showed.

26july4

ECONOMY NEWS

  • The International Monetary Fund has given its backing to Ukraine’s plans for an anti-corruption court, removing one of the key hurdles needed for the government to get its next $2 billion tranche of aid. The court is being set up as part of Ukraine’s $17.5 billion bailout and has become a symbol of its efforts to stamp out high-level corruption that has blighted the country for decades.
  • U.S. President Donald Trump accused China on Wednesday of targeting American farmers in a “vicious” way and using them as leverage to get concessions on trade. “China is targeting our farmers, who they know I love & respect, as a way of getting me to continue allowing them to take advantage of the U.S. They are being vicious in what will be their failed attempt. We were being nice – until now!” Trump wrote on Twitter.
  •  White House economic adviser Larry Kudlow said a plan by the Trump administration to pay as much as $12 billion in relief to U.S. farmers hurt by a burgeoning trade dispute is a stop-gap proposal and doesn’t signal a willingness to make a habit of aid programs. “What we’ve put on the board is what I think is a temporary assistance measure, I don’t think it’s going to get near to $12 billion,” Kudlow said during an interview on “CBS This Morning” on Wednesday. “Nobody’s really thrilled about this. We’re just trying to protect American agriculture from some of the unfair trading practices.”

26july5

25Jul

Singapore-based Cloud Alliance signs e-pay, gaming MOU with unit of Hong Kong-recorded Shunten International

CLOUD Alliance, Singapore-headquartered payments and gaming firm, has gone into an update of comprehension (MOU) with a unit of Shunten International, a Hong Kong-recorded supplier of online installment administrations, to team up in zones, for example, e-installments and gaming.

In a recording with the Hong Kong Stock Exchange on Wednesday, Shunten International said that the MOU tries to extend the organization’s WeChat cross-fringe installment business by utilizing Cloud Alliance’s installment arrangements and partnershipwith Unity to contact a huge number of diversion designers and gamers.

Solidarity is an amusement improvement motor inside which Cloud Alliance’s leader item and installment aggregator device, CloudMoolah, is coordinated. CloudMoolah empowers Unity designers to get to in excess of 500,000 retail purpose of-offers and in excess of 100 million gamers crosswise over South-east Asia; CloudMoolah has a selective association with Unity in South-east Asia to co-build up a conveyance stage for portable amusements made with Unity, said Shunten International.

A refundable sincere cash of HK$1 million (about S$173,702) will be payable by Wonderful Future to Cloud Alliance upon the marking of this MOU, which will be held by Cloud Alliance amid the eliteness period, Shunten International included. The selectiveness period alludes to the two-month time frame after the date of execution of the MOU, amid which Wonderful Future has the elite ideal to consult with Cloud Alliance in connection to the terms of the proposed participation.

Shunten International stated: “so as to additionally build up the gathering’s WeChat cross-fringe installment business, the executives consider that it is in light of a legitimate concern for the organization and its investors all in all to go into the MOU to investigate the likelihood of co-working with Cloud Alliance to infiltrate into the current e-installment organizations and systems of Cloud Alliance.”

25Jul

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 prices were trading slightly lower on Tuesday as the dollar edged up after a sharp decline in the previous session. Gold Futures for August delivery on the Comex division of the New York Mercantile Exchangeis was down 0.47% to a trading price of $1,219.8 each troy ounce at 1:10AM ET (05:10 GMT).
  • Rising oil revenues are greatly improving the outlook for budget and trade balances among Gulf Arab countries but will do very little to boost economic growth, a quarterly Reuters poll of economists showed. The benchmark Brent oil price (LCOc1) has averaged about $71.60 a barrel so far this year, up from $55 last year. Also, Gulf states are set to export more oil this year after global producers agreed last month to boost output, partly to compensate for anticipated losses in production by Iran, which faces U.S. sanctions.
  • U.S. crude oil prices were higher on Tuesday, as Iran threatened to retaliate against the U.S. if the government tries to block its oil exports. West Texas Crude oil futures rose 1.24% to $68.73 a barrel as of 10:32 AM ET (14:32 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., increased 0.79% to $73.64. The U.S. has threatened to block oil trade with Iran after Trump withdrew from the nuclear agreement with Tehran.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • The trade is familiar to investors worldwide: in times of turmoil, rush for cover by buying the Japanese yen. This year a global trade row has erupted, Donald Trump has lamented the dollar’s strength – ignoring a custom that U.S. presidents avoid openly interfering in financial markets – and the Chinese yuan has tumbled. And yet the yen has stayed resolutely weak, becoming the weakest of the G10 developed market currencies this month.
  • The International Monetary Fund said on Tuesday that the U.S. dollar is over-valued, China’s yuan is in line with fundamentals and nearly half of global current account balances are now excessive, adding to growth risks and trade tensions. The IMF, in its annual External Sector Report, which assesses exchange rates and current account surpluses and deficits, also said current account surpluses and deficits are becoming increasingly concentrated in advanced economies.
  • The chief trade negotiator of the incoming Mexican administration, Jesus Seade, said on Tuesday he expected the renegotiation of the North American Free Trade Agreement (NAFTA)to be agreed in the next few months. “What I see … to be a very feasible expectation is that we’ll be concluding the negotiation in the next two months if possible, or in the next few months a bit further down the road,” Seade told Mexican radio.

GOLD TRADING FORECAST TODAY

24Jul

Singapore Stocks Watch :RHB maintains ‘buy’ on SGX, expects good earnings growth

Singapore Stocks Watch :

Representative RHB has looked after its “buy” approach the Singapore Exchange (SGX) with an objective cost of S$9, speaking to a 20 for each penny upside.

As at 1.57pm on Tuesday, the counter was exchanging at S$7.46 each, down 0.3 for every penny or two Singapore pennies.

The SGX will discharge its outcomes for monetary year 2018 on July 27, reseller’s exchange close.

RHB noticed that Bloomberg information showing that SGX’s monetary 2018 securities normal day by day esteem (SADV) of S$1.24 billion is in accordance with its desire for S$1.2 billion, and higher than financial 2017’s S$1.12 billion.

Despite the fact that July 2018’s month-to-date SADV of S$1.11 billion was powerless, RHB experts noticed that it could have been incompletely because of the Fifa World Cup that prompted bring down exchanging volumes.

Looking forward, the examiners are bullish on the Singapore bourse’s SADV, and have accepted SADV of S$1.39 billion for financial year 2019.

SGX

“Worldwide improvements, incorporating further climbs in the US Federal assets rate and exchange war concerns, could invigorate all the more exchanging of stock property in financial specialists’ portfolios, and thus create exchanging volume,” said RHB expert Leng Seng Choon.

The dealer is likewise guaging subsidiaries normal day by day volume (DADV) of 0.82 million for financial 2019, in the wake of considering in a few negatives from the exchanging of India’s Nifty 50 file prospects, which represents 11 for every penny of SGX’s aggregate subordinates exchanged volume.

Also, RHB is expecting great income development and a solid monetary record, close by an alluring profit yield from the counter.

“SGX’s FY19F profit yield of 4.6 for each penny is twofold that of Singapore’s sovereign 10-year security yield of 2.42 for every penny. We are guaging FY2019 net benefit development of 9.7 for every penny. SGX is in a net money position and has an imposing business model over the exchanging of Singapore values.”

RHB likewise noticed that its objective cost depends on a monetary 2019 P/E (value profit proportion) of 24 times, or one standard deviation over the three-year mean of 22.2 times.

In any case, key dangers incorporate worldwide financial variances and geopolitical advancements.

The result of the intervention between the SGX and the India Index Services and Products Ltd could likewise affect future subordinates exchanging volume and henceforth profit, RHB said.

24Jul
main-qimg-dc062753a07df121f8b85a4efe990b45

Forex Market Report

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Steadies, Yen Pares Back Early Gains
Forex – EUR/USD bounces off lows, reclaims 1.1720
Forex – Trump Comments Knock Dollar, Yen Up on BoJ Speculation

EUR/USD

EUR/USD now alternates gains with losses ahead of the opening bell across the pond, managing to stage a rebound from 1.1690 to the vicinity of 1.1730, where met some decent hurdle. Spot keeps navigating the upper end of the recent range above 1.1700 the figure amidst a generalized sideline theme in the global markets. On the USD-side, the greenback stays trapped within a tight range against the backdrop of rising yields in the US 10-year note and always wary of headlines coming from the US-China trade dispute. In the docket, US Chicago Fed index rebounded to 0.43 in June, while Existing Home Sales during the same period are due later. At the moment, the pair is losing 0.05% at 1.1714 and a breakdown of 1.1690 (10-day sma) would target 1.1676 (21-day sma) and then 1.1575 (low Jul.19). On the flip side, the next hurdle at 1.1748 (high Jul.17) followed by 1.1792 (high Jul.9) and finally 1.1853 (high Jun.14).

GBP/USD

The GBP/USD pair quickly reversed an early European session dip to 1.3113, albeit continued with its struggle to make it immediate barrier near mid-1.3100s. Despite a bearish development, wherein the EU leaders rejected the UK PM Theresa May’s current Brexit plan, the pair continued gaining positive traction at the start of a new trading week and was supported by a follow-through US Dollar selling bias. The US President Donald Trump’s comments on Friday, showing displeasure over the Fed’s
monetary tightening and the recent dollar strength, kept the USD bulls on the defensive and helped the pair to build on last week’s goodish rebound from YTD lows. The bullish momentum, however, lacked any strong conviction, with easing USD bearish pressure capping the pair near a confluence resistance comprising of 200-hour SMA and 50% Fibonacci retracement level of the 1.3363-1.2957 recent downfall.

 

24

24Jul

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

    COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • U.S. crude oil prices were steady on Monday after U.S. President Donald Trump warned Iran over Twitter on Sunday night. West Texas Crude oil futures rose 0.31% to $68.47 a barrel as of 10:42 AM ET (14:42 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., increased 0.63% to $73.53. Prices surged earlier in the session after Trump warned Iranian President Hassan Rouhani on Sunday to “never, ever threaten the U.S. again,” or Iran would “suffer the consequences.”
  • Oilfield services provider Halliburton Co (N:HAL) on Monday reported a 24 percent increase in quarterly revenue, narrowly beating analysts’ estimates, as higher oil prices sparked a surge in U.S. crude production activity. Halliburton has benefited from soaring U.S. oil production, which reached a record 11 million barrels per day in July, according to a government estimate.
  • The world’s largest oil companies are pumping more natural gasthan ever before, helping to spur a rise in profits while sating rising global demand for fuels that can mitigate global greenhouse gas emissions. This marks a shift over the past decade for an industry that once focused predominantly on crude oil, with gas in most cases an after-thought. Now, the rise of gas-powered electric generation, surging production from U.S shale fields and the burgeoning liquefied natural gas (LNG) industry that makes shipping the fuel possible, have conspired to create a boom.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Real gross-domestic-product growth in the country slipped 0.1 percentage points to 6.7% in the second quarter, the statistics bureau reported Monday, a pace not seen since 2016. That is still over the government’s target of around 6.5%, and year-over-year growth remained at 6.8%. The fall was widely expected after Chinese policymakers began a campaign to curb financial leverage last year, which analysts say has weighed heavily on growth.
  • Canada’s economic growth is strong and some housing market vulnerabilities have improved, but trade policy is a big risk to the outlook and the government should reform taxes to boost corporate competitiveness, the OECD said on Monday. The Paris-based Organisation for Economic Co-operation and Development said while GDP growth is projected to remain robust, with exports underpinned by strong global demand, rising rates will sap some consumer strength.
  • China will adopt a more vigorous fiscal policy to help tackle external uncertainties without resorting to strong policy stimulus, state radio said on Monday, citing the cabinet. Slowing economic growth has sparked a heated debate among government researchers on whether fiscal policy should play a bigger role in softening the impact of a trade war with the United States. “The proactive fiscal policy will become more active,” state radio cited a statement issued after a cabinet meeting, chaired by Premier Li Keqiang, as saying.

COMEX GOLD SIGNAL

23Jul

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

  • Metal prices were higher Friday as the dollar moved sharply lower after President Donald Trump said higher interest rates and the strength of the greenback were hampering economic growth. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange rose by $8.10, or 0.66%, to $1,232.30 a troy ounce from a session low of $1.215.50.
  • The U.S. oil and gas industry is lobbying against tighter sanctions on Russia that could impact U.S. investments there, congressional sources said on Friday. The U.S. Senate has revived a bill, called DETER, that would allow for swift sanctions if Moscow was found meddling in future U.S. elections. Both Democrats and Republicans are looking to redress what they consider President Donald Trump’s weak stance on accusations of Russian interference in the 2016 election when he met Russian President Vladimir Putin on Monday.
  • President Donald Trump said he was ready to impose tariffs on all $500 billion of goods the U.S. imports from China, remarks that sent financial markets retreating and threatened to escalate a trade clash with the Asian giant. “We’re down a tremendous amount,” Trump said in an interview about trade imbalances with China on CNBC broadcast on Friday.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • The United States is monitoring the recent weakness in China’s yuan currency and will review whether the currency has been manipulated, Treasury Secretary Steven Mnuchin told Reuters on Friday. Mnuchin said in an interview in Sao Paulo, Brazil, that the yuan’s weakness would be reviewed as part of the U.S. Treasury’s semi-annual report on currency manipulation. The report is due on Oct. 15 and will be based on activity for the first six months of 2018.
  • U.S. President Donald Trump may not be happy about the strength of the U.S. dollar, but the greenback’s recent rally may partly be a product of his own making. The U.S. dollar has been climbing against major currencies for several months, with thedollar index (DXY) up nearly 7.0 percent over the last three months and on Thursday hit a one year high.
  • The U.S. Securities and Exchange Commission said on Friday that Deutsche Bank (DE:DBKGn) (N:DB) has agreed to pay nearly $75 million to settle an investigation into the mishandling of pre-release American Depositary Receipts (ADR). Deutsche Bank did not admit or deny the SEC’s findings but agreed to return its “ill-gotten gains” and comply with the SEC’s fine, the regulator said. The SEC said its investigation has revealed “industrywide abuses” in pre-released ADRs, said Stephanie Avakian, of the SEC’s Enforcement Division.

GOLD TRADING FORECAST TODAY

20Jul

Golden Springs offers 75% stake in Singapore creature feed maker Gold Coin to Aboitiz unit

Golden Springs Group has sold a 75 for each penny stake in Gold Coin Management Holdings to Pilmico International, an auxiliary of Aboitiz Equity Ventures (AEV), in an arrangement which esteems the domesticated animals feed maker at US$550 million.

Sabin M Aboitiz, AEV’s head working officer and Pilmico’s leader and CEO, said the acqusition will include three million metric huge amounts of feed volume, notwithstanding quadrupling AEV’s general feeds generation limit.

The exchange denotes the beginning of a “long haul organization” between the Aboitiz Group and Golden Springs, which will keep on retaining a 25 for every penny stake in Gold Coin.

Set up in Singapore in 1953, Gold Coin is presently one of the biggest creature feed makers in the Asia Pacific, working crosswise over 11 nations. It is the “main unadulterated play creature nourishment maker” dynamic in the dominant part of key animals feed advertises in South-east Asia, said Golden Springs.

It at present utilizes more than 3,000 individuals crosswise over 21 generation creation offices, and offers items for both the domesticated animals and the water ventures, including youthful creatures and incubation facility feed, premixes, focuses and compound feed.

Golden Springs is an agribusiness claimed by Peter Zuellig, a scion of Switzerland’s well off Zuellig family, who said on Friday that “the Zuellig and Aboitiz families have known each other for ages”.

Said Mr Zuellig: “Gold Coin, as one of the main creature nourishment stages in Asia Pacific, is very much ready to gain by rising proteinconsumption. GSG has chosen to keep on retaining a minority stake to guarantee that we can take part in Gold Coin’s solid development potential as it executes on its extension systems together with Pilmico.”

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