16Jun
sgx2

Singapore OCBC’s private bank unit exploring China onshore presence

SINGAPORE:

  • The private banking unit of Singapore’s second-biggest lender OCBC is exploring launching an onshore presence in China either with a domestic partner or on its own, its CEO told the Reuters Global Wealth Management Summit on Thursday.
  • Regional and global banks have been cautious about setting up a local private banking and wealth management presence in China due to regulatory restrictions and the nation’s relatively less developed capital market. But as the world’s second-biggest economy continues to open up, the banks are reassessing their plans.
  • Earlier this week, Standard Chartered Plc said at the Summit it will consider next year whether it should start an onshore private bank in China.
  • “We are looking to explore partnerships, joint ventures or any other mode in which we can bring our offshore expertise DEL to an onshore setup that already has a good client base,” said Bahren Shaari, CEO of Bank of Singapore.
  • “Whether we will set up our own Bank of Singapore entity is also something we are exploring,” he said. The CEO did not give a timeline for the plan.
  • OCBC already has an onshore presence in China with branches in major Chinese cities, while its subsidiary Wing Hang China has a strong presence in the Pearl river delta region in Guangdong province.

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

16Jun
forex-trading3

IForex Market Trading Signals and News – 16 June 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Sterling hits day’s highs after UK jobs data as Brexit fears ebb
  • Forex – Euro edges higher as dollar eases ahead of Fed
  • Forex – Aussie, kiwi move higher ahead of Fed statement

EUR/USD
EUR/USD rose considerably on Wednesday after the Federal Reserve held short-term interest rates steady and lowered its rate path outlook for each of the next two years. The currency pair traded in a broad range between 1.1190 and 1.1299 before settling at 1.1264 at the close of U.S. afternoon trading, up 0.0043 or 0.50% on the session. With the sharp gains, the euro closed above 1.11 versus the dollar for the ninth consecutive session. More broadly, the euro is relatively flat against its American counterpart over the last month, down 0.39% during that span. EUR/USD likely gained support at 1.1055, the low from March 15 and was met with resistance at 1.1616, the high from May 3.

GBP/USD
Sterling rose to the day’s highs against the dollar on Wednesday as fears that the U.K. may vote to exit the European Union eased and after data showing that Britain’s unemployment rate fell, while pay growth rose in the three months to April. GBP/USD hit highs of 1.4215, pulling further away from the two-month trough of 1.4090 set on Tuesday. The pound regained ground as risk appetite recovered and investors turned their attention to the outcome of the Federal Reserve’s
meeting later in the day.The Fed was to conclude its two-day policy meeting later on Wednesday and investors were looking for fresh indications on whether the U.S. central bank still expects to raise interest rates twice this year.Sterling has weakened across the board in recent sessions after a number of opinion polls showed that the U.K.’s EU referendum race is tightening ahead of the June 23 vote.

RECOMMENDATION :

  • BUY GBP/USD AROUND 1.4090 TGT 1.4110 1.4140 SL 1.4060
  • SELL GBP/USD AROUND 1.4300-1.4298 TGT 1.4280 1.4250 SL 1.4330

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PTE LTD.

16Jun
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 16 June 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 5.92 points or 0.21% higher to 2774.25, taking the year-to-date performance to -3.76%.
  • The top active stocks today were SingTel, which gained 0.26%, DBS, which gained 0.70%, UOB, which gained 0.17%, OCBC Bank, which gained 0.24% and Noble, with a 2.13% fall.
  • The FTSE ST Mid Cap Index declined 0.03%, while the FTSE ST Small Cap Index remained unchanged.
  • The outperforming sectors today were represented by the FTSE ST Oil & Gas Index, which rose 0.76%. The two biggest stocks of the Index – Keppel Corp and Sembcorp Industries – ended 1.32% higher and 0.71% higher respectively.
  • The underperforming sector was the FTSE ST Technology Index, which slipped 0.60%. Silverlake Axis shares declined 0.97% and CSE Global remained unchanged.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (+0.09%), STI ETF (unchanged), DBXT MSCI Pakistan IM ETF 10 (+4.16%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (-0.86%), Capitamall Trust (-0.98%), Capitacom Trust (-0.36%)
  • The most active index warrants by value today were : HSI20600MBeCW160728 (unchanged), HSI21200UBeCW160929 (unchanged), HSI20400UBeCW160929 (-2.13%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (+4.17%), UOB MB eCW161031 (+4.44%), DBS MB ePW161003 (-3.53%).

STOCK RECOMMENDATION :

  • BUY G INVACOM ABOVE 0.118 TGT 0.124 0.127 SL 0.112

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

15Jun
sgx2

Economists trim 2016, 2017 Singapore growth forecasts

SINGAPORE:

  • Economists trimmed their forecasts for Singapore’s 2016 and 2017 growth, while downgrading their views on exports as well as private consumption for this year, a central bank survey showed on Wednesday.
  • The median forecast of 22 economists surveyed by the Monetary Authority of Singapore (MAS) was for gross domestic product (GDP) to grow 1.8% in 2016, down from the 1.9% expected in the previous survey published in March.
  • The median forecast for GDP growth in 2017 was also lowered to 2.1%, down from 2.5% in the previous survey.
  • The government expects full-year GDP growth of 1.0%-3.0% this year.
  • Economists’ median forecast for non-oil domestic exports was for a contraction of 2.1% in 2016, down from the previous forecast for growth of 0.2%.
  • In late May, Singapore slashed its export forecasts for this year after the trade-reliant economy barely grew in the first quarter, heightening uncertainty over the economic outlook.
  • The median forecast for private consumption was cut to 2.5% growth this year, from 3.2% growth in the previous survey.
  • The manufacturing sector was not expected to grow at all this year, still an improvement from the previous median forecast for a contraction of 2.7%.
  • Economists also lowered their forecasts on the all-items consumer price index (CPI). However, they kept unchanged their outlook for core inflation, which is seen as the focus of the central bank’s monetary policy.

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

15Jun

Comex Trading Signals and Market News – 15 June 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil fell on Tuesday, as investor nervousness over next week’s vote on Britain’s possible European Union exit swept financial markets, eclipsing signs of a return to health for crude prices.Perceived safe-haven assets such as the Swiss franc and German Bunds rallied, while industrial commodities and equity markets, seen as more vulnerable to economic risk, fell after polls showed Britain’s “Leave” campaign leading before a referendum on EU membership.
  • Gold futures were lower in European trade on Tuesday, after climbing to a four-week high in the prior session, as investors readjusted positions ahead of the Federal Reserve’s two-day monetary policy meeting due to begin later in the day. While the Fed is widely expected to leave interest rates unchanged at the conclusion of its policy meeting at 18:00 GMT, or 2:00PM ET, Wednesday, the U.S. central bank could provide guidance on its pace of tightening over the next several months.
  • Silver futures were trading lower during the late morning trade in the domestic market on Tuesday as traders trimmed their positions amid tracking weak trend in global markets.Speculators indulged in trimming of positions at existing levels and a weak trend in precious metals globally kept pressure on Silver futures.

ECONOMY NEWS :

  • Evidence that the U.S. neutral rate of interest remains stalled near zero may slow Federal Reserve rate hikes even more than expected, tying the hands of policymakers until a rebound in global demand or other forces raise that key measure of the economy’s underlying strength.Though difficult to estimate precisely, the neutral rate is the point at which monetary policy neither encourages nor discourages spending and investment, and is thus a key measure of whether a given federal funds rate is stimulating or restricting the economy.
  • British finance minister George Osborne, battling to keep the country in the EU, warned voters that he will take new austerity measures if they decide to leave the bloc in next week’s referendum. With opinion polls showing momentum swinging to the “Out” camp, Osborne intensified the tone of his warnings about the consequences of a so-called Brexit, saying he would respond by increasing taxes and cutting spending.
  • Half of Chinese investors are holding back from buying property in Britain until after the country’s referendum on EU membership, a survey showed on Wednesday, though a quarter say they are more eager to complete purchases before the vote. A total of 51 percent of the 411 Chinese property professionals and investors surveyed by juwai.com, the largest real estate portal that targets Chinese buyers looking abroad, said the June 23 vote had made them hold back from deals.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1286.8 TARGET 1291.8 1297.8 SL 1281.8
  • SELL GOLD BELOW 1277.8 TARGET 1272.8 1266.8 SL 1282.8

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

15Jun
forex-trading3

IForex Market Trading Signals and News – 15 June 2016

MARKET UPDATES :

  • Forex – Yen hits 3-year highs against euro, pound on Brexit fears
  • Forex – Sterling remains lower after UK inflation data on Brexit jitters
  • Forex – Sterling at 2-month lows, yen gains on Brexit fears

EUR/USD
EUR/USD bounced off one-week lows on Monday, as dollar sentiment remained weak ahead of a highly-anticipated interest rate decision from the Federal Reserve, when the U.S. central bank is widely expected to leave short-term rates unchanged.The currency pair traded between 1.1232 and 1.1303 before settling at 1.1292, up 0.0053 or 0.46% on the session. With the considerable gains, the euro ended a three-day losing streak against the dollar. Over the last month, the euro has been relatively flat against its American counterpart, down 0.75% during the period. More broadly, EUR/USD is up 4% since starting the year at 1.086.EUR/USD likely gained support at 1.1055, the low from March 15 and was met with resistance at 1.1616, the high from May 3.

GBP/USD
The pound was trading at almost two-month lows against the dollar on Tuesday after data showing that U.K. inflation remained steady in May, as concerns over prospect of a British exit from the European Union continued to weigh. GBP/USD was down 0.87% at 1.4144, holding just above Monday’s two-month trough of 1.4114. The Office for National Statistics said the annual rate of U.K. inflation remained steady at 0.3% in May, slightly below economists’ expectations for an increase of 0.4%.Lower prices for clothing and footwear along with food and beverages put the largest downward pressure on inflation, the ONS said.Fuel prices rose as oil prices recovered, the report said.Core inflation, which excludes volatile energy and food costs, remained steady at 1.2%, falling slightly short of forecasts for a 1.3% increase.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4200 TGT 1.4220 1.4240 SL 1.4170
  • SELL GBP/USD AROUND 1.4265-1.4263 TGT 1.4245 1.4205 SL 1.4295

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PTE LTD.

15Jun
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 15 June 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 17.1 points or 0.61% lower to 2768.33, taking the year-to-date performance to -3.97%.
  • The top active stocks today were DBS, which declined 0.13%, SingTel, which declined 1.55%, UOB, which declined 1.04%, OCBC Bank, which declined 0.36% and Keppel Corp, with a 1.48% fall.
  • The FTSE ST Mid Cap Index declined 0.02%, while the FTSE ST Small Cap Index rose 0.02%.
  • The outperforming sectors today were represented by the FTSE ST Technology Index, which rose 0.93%. The two biggest stocks of the Index – Silverlake Axis and CSE Global – ended 0.98% higher and 3.37% lower respectively.
  • The underperforming sector was the FTSE ST Telecommunications Index, which slipped 1.48%. SingTel shares declined 1.55% and Star-Hub declined 0.84%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (-0.30%), STI ETF (-0.35%), DBXT FT China 25 ETF 10 (-1.10%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (-0.43%), Capitamall Trust (+0.49%), Capitacom Trust (unchanged)
  • The most active index warrants by value today were : HSI21200UBeCW160929 (-8.11%), HSI20600MBeCW160728 (-12.71%), HSI20400UBeCW160929 (-6.00%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (+1.05%), UOB MB eCW161031 (-7.22%), DBS MB ePW161003 (-3.53%)

STOCK RECOMMENDATION :

  • BUY MANHATTAN RES ABOVE 0.117 TGT 0.123 0.126 SL 0.111

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

14Jun

Comex Trading Signals and Market News – 14 June 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil prices edged lower in European trade on Monday, with the U.S. benchmark falling further below the $50-level amid indications of increased domestic drilling activity.Crude oil for July delivery on the New York Mercantile Exchange fell to an intraday low of $48.21 a barrel, the weakest level June 2. It last stood at $48.56 by 07:50GMT, or 3:50AM ET, down 51 cents, or 1.04%.On Friday, New York-traded oil prices sank $1.49, or 2.95%, after data showed the U.S oil rig count rose the second straight week last week, underlining concerns over growing supplies.
  • Gold futures extended last week’s strong gains in European trade on Monday, hitting a fresh four-week high as investors looked ahead to the Federal Reserve’s policy meeting later this week and amid mounting jitters over the upcoming referendum on whether the U.K. would remain in the European Union.The Fed is not expected to take action on interest rates at the conclusion of its two day policy meeting on Wednesday.
  • Copper futures closed lower in the domestic market on Friday as headwinds from a mid-term U.S. rate hike that have boosted the dollar added to pressure from tepid physical demand in top user China. The dollar was bolstered by an unexpected drop in domestic jobless claims last week calming some worries about U.S. economic growth decelerating in the second quarter.

ECONOMY NEWS :

  • U.S. Treasuries are not as safe as investors assume, fund manager Michael Hasenstab said on Monday, as full employment and rising inflation put pressure on central bankers to raise rates.The U.S. Federal Reserve could tighten monetary policy as inflation rises to 3 percent this year and oil prices stabilize, according to Hasenstab, chief investment officer of Templeton Global Macro, who spoke at the Morningstar Inc Investment Conference in Chicago.
  • The California Public Employees’ Retirement System recently bought a stake in a private Indiana toll road with a troubled history, one sign of how popular infrastructure investments have become among U.S. pension funds.In May, CalPERS bought a 10 percent stake of the road’s concession, representing the first U.S. transportation investment for the nation’s largest public pension fund. The Indiana Toll Road had been acquired out of bankruptcy in 2015 for about 50 percent more than its original 2006 price by a fund made up of more than 70 U.S. pension plans.
  • Britain’s status as a trade power has become one of the most contentious issues in the European Union membership referendum on June 23.The uncertain outlook for exporters, and the implications for investment in Britain, are driving much of the nervousness in financial markets where the pound has weakened sharply.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1286.7 TARGET 1291.7 1297.7 SL BELOW 1281.7
  • SELL GOLD BELOW 1282.8 TARGET 1277.8 1271.8 SL ABOVE 1287.8

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

14Jun
forex-trading3

IForex Market Trading Signals and News – 14 June 2016

MARKET UPDATES :

  • Forex – Pound hits 2-month lows as Brexit fears mount, yen rallies
  • Forex – Aussie edges higher, kiwi slips with focus on Fed meeting
  • Forex – Yen gains sharply on safe haven buying, China data assessed

EUR/USD
The EUR/USD pair fell slightly during the course of the day on Friday, as we continue to grind lower. However, the markets have quite a bit of support below, especially considering that we have the massive impulsive candle from last Friday when the jobs number was so poor. Because of this, it is more than likely only a matter time before the buyers return to this marketplace. Short-term speaking, this market could drop down to the 1.12 level, but that should be where the buyers start to return to take advantage of value.EUR/USD is currently trading with a strong bearish bias. on 10th June 2016, this pair broke below a significant support level 1.1283 and is still pretty much bearish.

GBP/USD
The Pound had another bearish session on Friday and continued lower today in early trading as nervous traders exited their positions in the wake of the newest Brexit polls. The positive economic releases of the week were mostly ignored, as investors consider the vote as the primary risk for the currency. The technical picture remains neutral, with strong resistance above the current rate around 1.4385 and support at 1.4150. The prior lows near 1.3850 still seem distant, despite the recent volatility in the pair.The pound fell to two month lows against the dollar on Monday and hit multi-year lows against the stronger yen as worries over a U.K. referendum on European Union membership next week took hold. GBP/USD was down 0.49% at 1.4185, the weakest level since April 18.Sterling has sold off in recent sessions amid fears that a U.K. exit or Brexit from the EU in the June 23 referendum could trigger a period of uncertainty in financial markets and hit growth in the region.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4183 TGT 1.4203 1.4233 SL 1.4153
  • SELL GBP/USD BELOW 1.4158 TGT 1.4138 1.4108 SL 1.4188

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PTE LTD.

14Jun
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 14 June 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 37.54 points or 1.33% lower to 2785.43, taking the year-to-date performance to -3.38%.
  • The top active stocks today were DBS, which declined 1.45%, SingTel, which declined 1.03%, OCBC Bank, which declined 2.42%, UOB, which declined 1.67% and CapitaLand, with a 1.32% fall.
  • The FTSE ST Mid Cap Index declined 1.16%, while the FTSE ST Small Cap Index declined 1.10%.
  • The outperforming sectors today were represented by the FTSE ST Basic Materials Index, which closed unchanged.
  • The two biggest stocks of the Index – Midas Holdings and Geo Energy Resources – both ended the trading day unchanged.
  • The underperforming sector was the FTSE ST Oil & Gas Index, which slipped 3.05%. Keppel Corp shares declined 3.40% and Sembcorp Industries declined 1.74%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (+1.53%), iShares USD Asia HY Bond ETF (unchanged), STI ETF (-1.39%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (+0.43%), Capitamall Trust (-0.49%), Capitacom Trust (-1.42%)
  • The most active index warrants by value today were : HSI19400UBePW160929 (+15.49%), HSI21200UBeCW160929 (-17.16%), HSC9400UBeCW160929 (-17.24%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (-12.04%), UOB MB eCW161031 (-10.19%), KepCorp MB eCW161101 (-17.44%)

STOCK RECOMMENDATION :

  • BUY CHINA ENV ABOVE 0.039 TGT 0.042 0.045 SL 0.037

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

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