1Feb

Singapore Stock Watch: Singapore shares open higher on Friday, STI up 0.17% to 3,195.71

Singapore Stock Watch: SINGAPORE stocks opened somewhat higher on Friday, with the Straits Times Index progressing 5.54 focuses, or 0.17 percent to 3,195.71 as at 9.05am.

Gainers dwarfed washouts 59 to 54, after about 60.2 million offers worth S$118.5 million changed hands.

The most effectively exchanged counter was seaward vitality organization Ezion Holdings, which exchanged unaltered at S$0.054, with around 8 million offers evolving hands.

Other dynamic stocks included Thai Beverage, which rose 1.37 percent, or one Singapore penny to S$0.74, and Golden Agri-Resources, which exchanged level at S$0.255.

Financial plan 2019 will proceed with government’s procedure for exploring worldwide vulnerability: Indranee

THE Singapore Government will keep its 2019 Budget went for helping the economy explore worldwide vulnerabilities through development, internationalization and ability working for laborers, said Minister in the Prime Minister’s Office and Second Minister for Finance and Education Indranee Rajah on Friday morning.

In a meeting on business and individual back radio station MONEY FM 89.3, she noted exchange strains, the stoppage in China’s ongoing financial figures, the International Monetary Fund and World Bank’s admonitions of “darker skies ahead” and the troublesome capability of innovation.

“Financial plan 2019 is a continuation of our system to graph an unfaltering course through this sort of monetary vulnerability,” she said.

Approached about help for little and medium ventures (SMEs) specifically, she answered: “The best help is truly to help SMEs to be profitable, to assist them with seeing how to best scale up, how to join forces with greater elements to get to circumstances.” This year’s Budget will center “a considerable amount” on these territories, just as moves to additionally urge SMEs to unite as one – albeit such association is most normally completed in terms of professional career affiliations and chambers, she included.

Concerning managing the disturbance brought about by mechanical change, “the key is helping individuals to most likely deal with it,” she said. Refering to the current SkillsFuture plot, she included: “That will proceed yet we’ll take a gander at manners by which you can enable individuals to further.”

Monetary issues aside, the current year’s Budget will have a social spotlight on training and medicinal services specifically, as Finance Minister Heng Swee Keat prior referenced, just as measures to empower volunteering. Ms Indranee included that there will be a “unique spotlight on the underprivileged”.

On the perpetual inquiry of how to support spending, she noticed that Singapore “can’t over-depend” on the net speculations return commitment, which originates from venture returns on the stores, in light of the fact that the venture atmosphere varies. The forthcoming climb in merchandise and ventures impose from 7 percent to 9 percent, due somewhere in the range of 2021 and 2025, goes in close vicinity to this specific situation and in perspective of the long haul needs of human services and a maturing populace. The correct planning of the climb, be that as it may, will rely upon the monetary circumstance and conditions in the following term of government, she included.

With respect to the online business impose due in 2020, Ms Indranee said the administration is “as yet chipping away at it” and would not be drawn into uncovering more: “Watch this space, however nothing to add on that specific subject until further notice.”

31Jan

Singapore News : Development specialist co-op Reclaims Global looks for Catalist listing in Singapore

Singapore News:
RECLAIMS Global, an eco-accommodating coordinated specialist organization in the development business, on Wednesday held up a primer outline for an arranged first sale of stock (IPO) on the Singapore Exchange’s Catalist board.

Subtleties of the valuing, add up to be raised and timing of the offering have not yet been declared.

RECLAIMS Global has some expertise in the reusing of development and destruction squander, customisation of unearthing arrangements, and working armada the board. Its business involves three fundamental fragments, in particular reusing, removal administrations, just as coordinations and renting.

For the a half year in monetary 2019, Reclaims Global posted income of S$13.1 million, down 6.2 percent from a year back. This returned on the of a S$1.1 million decline from its reusing fragment, and a S$1.3 million decline from its coordinations and renting section, in part counterbalanced by a S$1.5 million increment from its exhuming business.

For a similar period, the organization is expecting lost S$92,000, from a benefit of S$684,000 every year sooner in the wake of perceiving a bit, or S$0.8 million, of its offer based installment as a major aspect of posting costs in its interval budget report.

Barring the offer based installment, benefit from proceeding with tasks, net of expense and complete extensive salary for the a half year in 2019 will be S$708,000.

For the entire year in monetary 2018, income fell 7.5 percent to S$27.5 million from S$29.8 million, while benefit dropped 15.2 percent to S$3.2 million.

The organization does not have a settled profit arrangement and future profits will rely upon its income and monetary position in addition to other things.

At present, official administrator Chan Chew Leh and official chief Tan Kok Huat each hold around 45 percent of the organization’s absolute issued share capital.

Looking forward, Reclaims Global noticed that it will keep on concentrating on open part development ventures.

Continues from the posting will be utilized to extend its operational limit just as its reused item go. The rest of be utilized to finance extension through acquisitions, joint endeavors or key coalitions and for general working capital purposes.

In any case, key dangers to its business incorporate a log jam in the development business, more noteworthy challenge, credit dangers, venture delays and administrative changes, Reclaims Global noted.

SAC Capital is the support, issue director, guarantor and situation operator for this IPO.

30Jan

US Federal Reserve to stay patient on interest rates

WASHINGTON: The Federal Reserve will make its first loan fee declaration of the year on Wednesday (Jan 30) however more likely than not will make it obvious it will stay understanding about any further moves.

The US national bank expanded the benchmark rate multiple times a year ago yet rising worries about a moderating US economy, in the midst of an exchange war with China, incited authorities to flag they will set aside opportunity to check the economy’s execution.

Furthermore, the five-week government shutdown likewise scratched monetary execution in the main quarter of the year, albeit a large portion of that is relied upon to be recuperated.

Central bank Chairman Jerome Powell toward the end of last year more than once shook up business sectors with remarks viewed as excessively idealistic and implying at more rate climbs to come.

Confronting blowback from his endeavors to talk evidently, Powell withdrew from his position and tried to pressure the vulnerability about the financial standpoint.

He compared the circumstance to being in a dim room and expecting to set aside opportunity to locate the correct way.

While a few financial specialists state anxious markets went overboard, there are indications of moderating that give the Fed reason enough to delay the fiscal arrangement fixing.

Market analyst Joel Naroff said “the better piece of valor is to punt”.

He said the Fed proclamation – due for discharge at 1900 GMT – will pressure “that the vulnerability will be observed cautiously”, particularly given worries about the Chinese economy.

“Until the point that this issue is settled, the Fed is probably going to move gradually as a full-out exchange war could send the world economy into subsidence.”

Powell will have another open door on Wednesday to ensure touchy monetary markets get the message, when he holds the first of eight news gatherings for the year.

28Jan

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • China’s soybean imports from the United States plunged 99 percent in December to just 69,298 tons, customs data showed on Friday, taking its full-year 2018 imports to the lowest level since 2008 amid an ongoing trade war. It was the second month in a row when Chinese imports from the United States ground to a virtual halt amid the tit-for-tat dispute, although some buying has since resumed as talks between the world’s two largest economies continue.
  • A Republican U.S. representative on Thursday introduced White House-drafted legislation that would give President Donald Trump more power to levy tariffs on imported goods in an effort to pressure other countries to lower their duties and other trade barriers. The measure offered by Representative Sean Duffy, which has been touted by Trump administration officials, has already been declared unacceptable by some Republican senators, including Senate Finance Committee Chairman Chuck Grassley.
  • The thought of losing Venezuelan crude seems to be a greater worry to U.S. oil traders than seeing anemic demand for gasoline. New York-traded West Texas Intermediate crude settled up on Thursday while London’s Brent oil barely dipped despite a surprising weekly jump in U.S. crude inventories and another gasoline build that reportedly took the motor fuel’s stockpiles to record highs.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • A synchronized global economic slowdown is under way and any escalation in the U.S.-China trade war would trigger a sharper downturn, according to Reuters polls of hundreds of economists from around the world. That is a major shift in sentiment from just a year ago, when economists were optimistic about a significant global upturn. But an escalation in trade tensions and tightening financial conditions have hurt activity in most economies and dragged China’s growth last year to the weakest in 28 years.
  • Trade officials from 12 countries and the European Union seeking to reform World Trade Organization rules on Thursday said the challenges were becoming more urgent as members resorted to trade restrictions. The group first met in Canada last October amid U.S. actions that threatened to paralyze the body.
  • The U.S. Internal Revenue Service is due to start sifting through an avalanche of annual tax returns on Monday, with a workforce hard-pressed by the partial government shutdown and Congress uncertain how to avoid chaos for taxpayers. In what could be a politically explosive chapter in the shutdown saga that already is 34 days long, analysts said at least one in 10 taxpayers could face problems with their returns due to the IRS funding shortfall. The analysts said the situation may worsen if the impasse drags on even longer.

COMEX GOLD SIGNAL

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28Jan

Singapore Stock Watch: Singapore shares open somewhat higher on Monday, STI up 0.05% to 3,203.93

Singapore Stock Watch:SINGAPORE stocks edged higher on Monday, with the Straits Times Index progressing 1.68 focuses, or 0.05 percent to 3,203.93 as at 9.05am.

Gainers dwarfed failures 73 to 42, after about 27.6 million offers worth S$40.1 million changed hands.

The most effectively exchanged counter was movies organization Spackman Entertainment, which exchanged at its present cost of S$0.03, with about 1.7 million offers exchanged.

Other dynamic stocks included Oxley Holdings, which rose 3.45 percent, or one Singapore penny to S$0.30, and ST Engineering which exchanged level at S$3.68.

sgx

Stocks to watch: Keppel, Oxley, Great Eastern, Micro-Mechanics

THE accompanying organizations saw new improvements that may influence exchanging of their offers on Monday:

Keppel Corp: Keppel Corp is moving a 70 percent enthusiasm for a Vietnam township task to Nam Long Investment Corp for 2.3 trillion Vietnamese dong (S$136 million) in real money. Keppel Land, Keppel’s land arm, is assuming control unlimited authority of Dong Nai Waterfront City LLC from its ebb and flow joint endeavor accomplice in the undertaking through a demerger. The arrangement is contingent upon specific conditions point of reference being satisfied, for example, the finishing of the demerger and administrative endorsement. Offers in Keppel Corp shut level at S$6.20 each on Friday.

Oxley Holdings: Oxley’s entirely possessed backup, Oxley Docklands Quay Three Limited, and National Asset North Quays DAC have consented to pitch 268 private units in Ireland to Greystar Europe Holdings for 175.5 million euros (S$270.8 million). Deal fruition is focused for Feb 27, 2019. The counter shut unaltered at S$0.29 on Friday.

Great Eastern (GE): The back up plan which is larger part possessed by Singapore loan specialist OCBC, has gone into an offer and buy consent to strip a minority stake in Indonesia protection firm, QBE Indonesia for some US$1.4 million. The purchaser, PT Suryasono Sentosa, will get a 5 percent stake in QBE Indonesia following the exchange, which is liable to endorsement by Indonesia’s budgetary administrations specialist and the Monetary Authority of Singapore. Offers in Great Eastern shut at S$26.65 on Friday, down 1.1 percent or S$0.30, while shares in OCBC last exchanged at S$11.47 each, up 0.5 percent, or six Singapore pennies.

Micro-Mechanics Holdings: Amid balance in the worldwide semiconductor industry, Micro-Mechanics posted a 20 percent fall in net benefit to S$3.1 million for the second quarter finished Dec 31, 2018, down from S$3.9 million in the year-prior period. This was on the back of a 3.1 percent fall in income to S$15.2 million, contrasted with S$15.6 million a year ago. Income per share for the quarter were 2.25 Singapore pennies, contrasted with 2.81 Singapore pennies in the former year. Miniaturized scale Mechanics will pay a break profit of four Singapore pennies for every offer on Feb 18, indistinguishable sum from was paid out in the year-prior period. Small scale Mechanics shares shut down one Singapore penny or 0.59 percent at S$1.69 on Friday.

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24Jan

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

  • Venezuela’s state-run oil company PDVSA [PDVSA.UL] said on Tuesday its debt fell 5 percent in 2018 from a year ago to $34.6 billion, though it remains in default on most of its bonds as crude output has slumped to 70-year lows in an economic crisis. PDVSA, which is short for Petróleos de Venezuela, S.A., has not paid interest on most of its bonds since the end of 2017, and together with Venezuela’s government has accumulated nearly $8 billion in late interest payments.
  • Global slowdown fears are growing, but the bigger beneficiary this time seems to be the dollar, not precious metals. Gold prices advanced slightly on Tuesday and those of palladium fell, while the dollar rallied after the International Monetary Fund revised downward its 2019 global growth forecast to 3.5% from October’s 3.7%. Chinese data also showed the lowest annual economic growth in nearly 30 years, while factory orders indicated a further loss in activity and jobs.
  •  Oil prices extended falls from the previous session on Wednesday, as concerns of an economic slowdown weighed on markets. U.S. West Texas Intermediate (WTI) crude futures were at $52.74 per barrel at 0024 GMT, down 27 cents, or 0.5 percent from their last settlement.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • As much as U.S. President Donald Trump wants to boost markets through a trade pact with China, he will not soften his position that Beijing must make real structural reforms, including how it handles intellectual property, to reach a deal, advisers say. Offering to buy more American goods is unlikely by itself to overcome an issue that has bedeviled talks between the two countries. Those talks are set to continue when Chinese Vice Premier Liu He visits Washington at the end of January.
  •  A partial shutdown of the U.S. government, which enters its second month on Wednesday, has delayed the publication of key economic data, leaving investors and businesses to follow their intuition and gut instincts as they make critical decisions. The shutdown, which affects about a quarter of the federal government, started on Dec. 22 amid demands by President Donald Trump that Congress give him $5.7 billion this year to help build a wall on the country’s border with Mexico. The shutdown is now the longest in U.S. history.
  • The Bank of Japan is set to cut its inflation forecasts and maintain its ultra-loose monetary policy on Wednesday, as pressure on the economy mounts in the face of slowing global demand, dealing another blow to its years-long efforts to foster durable growth. The deteriorating global outlook also means the BOJ is some way off from exiting a sweeping stimulus program begun in 2013, which policymakers have acknowledged will do more harm than good the longer it is retained.

GOLD TRADING FORECAST TODAY

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24Jan

Singapore Stock Watch : Singapore shares open higher on Thursday; STI up 0.11% to 3,174.59

Singapore Stock Watch: The Benchmark Straits Times Index ticked higher by 3.48 focuses, or 0.11 percent, to 3,174.59 as of 9am.

Washouts dwarfed gainers 44 to 37, after about 23.09 million offers worth S$37.02 million changed hands.

ComfortDelGro put on S$0.06, or 2.78 percent, to S$2.22, while Venture Corp ascended by S$0.14, or 0.92 percent, to S$15.32.

Off-record stock and tech dear Creative picked up S$0.05, or 0.94 percent, to S$5.41.

Singtel was famous at the opening ringer, including S$0.03, or 0.99 percent, to S$3.06 on a volume of 2.69 million offers. In the interim, telco peer StarHub was up by S$0.01, or 0.57 percent, to S$1.78, yet M1 lost S$0.01, or 0.49 percent, off its deliberate general offer cost, to S$2.05.

Oil costs unfaltering, however worldwide development stresses hold influence

Oil costs steadied on Thursday, yet worries over worldwide development and a sharp ascent in U.S. stocks held the market under strain.

SYDNEY: Oil costs steadied on Thursday, yet worries over worldwide development and a sharp ascent in U.S. stocks held the market under strain.

Worldwide Brent raw petroleum prospects were at US$61.17 a barrel at 0124 GMT, up 3 pennies from their last settlement, having shut down 0.6 percent in the past session.

U.S. West Texas Intermediate (WTI) rough fates were at US$52.63 per barrel, up 3 pennies from their last settlement. WTI prospects shut minimal changed on Wednesday.

Investigators said oil stays under strain in the midst of developing worries about a stoppage in worldwide monetary development.

“Worldwide vitality request has been delicate as vulnerability stays in the psyches of speculators,” said Alfonso Esparza, senior examiner, OANDA.

Examiners additionally indicated an unexpected increment in U.S. rough stocks after refineries cut yield, as indicated by industry information.

Rough inventories ascended by 6.6 million barrels in the week finished Jan. 18 to 443.6 million, contrasted and investigators’ desires for a decline of 42,000 barrels.

Gas stocks ascended by 3.6 million barrels, contrasted and desires in a Reuters survey for a 2.7 million-barrel gain.

23Jan

Singapore Stocks Watch: Singapore share down at Wednesday’s open; STI down by 0.32% to 3,182.45

Singapore Stocks Watch: SINGAPORE stocks opened more fragile on Wednesday, with the Straits Times Index declining 0.32 percent or 10.26 focuses to 3,182.45 as at 9.05am in the midst of fears that the US-China exchange talks would not yield important advancement.

Washouts dwarfed gainers 70 to 43, or around five securities down for each three up, after 36.3 million securities worth S$67.8 million changed hands.

Among the most vigorously exchanged by volume, Genting Singapore held firm to S$1.09 with 6.3 million offers exchanged. Thai Beverage Public Co increased 0.7 percent or S$0.005 to S$0.74 with 2.4 million offers exchanged.

Dynamic record stocks included DBS Group Holdings, down 0.5 percent or S$0.13 to S$24.42; Jardine Strategic Holdings, down 0.8 percent or US$0.28 to US$36.82; and City Developments, down 0.7 percent or S$0.06 to S$8.84.

GYP to exit financial-criteria watch list, but still on hold for the minimum trading price

GYP Properties will be removed from the Singapore Exchange’s financial-criteria watch list from Jan 23, although it will remain on watch for potential delisting because its share price is too low, the company announced on Tuesday after the market closed.

Mainboard-listed GYP, the property group formerly known as Global Yellow Pages, was placed on the watch list on Dec 5, 2017 for posting three straight years of pre-tax losses and for failing to maintain a market capitalisation of at least S$40 million. SGX’s approval for the company’s removal from the financial-criteria list comes after GYP reported a net profit of S$3.7 million for the year ended June 30, 2018, and achieved a market cap that, according to SGX data, is currently about S$41.5 million.

GYP’s shares last traded at 15.1 Singapore cents, however. That leaves the company still under the risk of a mandatory delisting for failing to maintain a six-month volume-weighted average trading price of 20 Singapore cents and a S$40 million market cap. The company was placed on the minimum-trading-price watch list on June 5, 2017, and has until June 4, 2020 to cure that status or it could be forced to delist.

 

22Jan

Singapore Budget 2019 could see open works and different moves to prop up economy: report

Singapore Budget :
FITCH Solutions examiners are taking a gander at looser financial arrangement from the Singapore government in February’s Budget, as per a short discourse out on Monday.

Refering to an approaching worldwide log jam and the weight on the Republic’s fare driven economy, the report said that the rising outside drawback dangers “are probably going to provoke policymakers to embrace arrangements to pad the economy through household situated activities, for example, open foundation spending.

This could incorporate presenting rail and other redevelopment ventures, as a milder open works pipeline was viewed as a delay the Singapore economy and its battling development division in 2018. Such foundation works have just been put on the table for the coming decade, the report noted.

“As open funds stay sound, there is space for the experts to give some help to the moderating economy,” the Fitch macroeconomic research group composed

“Singapore’s basically solid financial position because of long periods of monetary judiciousness will give space to the legislature to offer help to the economy.”

With the following Singapore general race due by April 2021, the Fitch group said that the up and coming Budget proclamation could indicate whether the People’s Action Party (PAP) will call an early vote in 2019.

“Should we see monetary exchanges to a vast extent of Singapore natives shock forcefully to the upside, this would propose that the PAP might look call decisions in 2019 as it has officially gotten down to business the fourth-age administration in 2018,” said the report, which noticed that the 2015 Budget posted an essential equalization deficiency on the back of refunds for white collar class families.

The 2019 Budget will probably contain a social spending center, including more subtleties on the Merdeka Generation welfare bundle for voters conceived during the 1950s, the investigators included.

In the mean time, Fitch Solutions gauge an essential excess of 0.6 percent of total national output for the past Budget, against the official desire for a shortage of 1.6 percent, as the experts indicated the administration’s reputation of improving the situation than it gauges.

The 2018 Budget had initially anticipated an essential shortage of S$7.34 billion and a fundamental deficiency of S$9.16 billion after extraordinary exchanges, barring top-ups to enrichment and trust reserves.

21Jan

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • This week precious metals traders will be monitoring trade talks for signs of a resolution in the U.S.-China trade dispute, while concerns over the economic impact of the U.S. government shutdown and uncertainty over Brexit will also remain in focus. While the ongoing government shutdown continues to delay some key U.S. economic reports, investors will get an update on U.S. existing home sales and jobless claims this week and U.S. markets are to remain closed for a long holiday weekend on Monday.
  • A blast at a gasoline pipeline in Mexico that killed at least 79 people has directed renewed scrutiny toward the new president’s ambitious strategy to stop fuel theft, his first major offensive to stamp out corruption and organized crime. Some relatives of the victims said fuel shortages stemming from President Andres Manuel Lopez Obrador’s plan led people to fill plastic containers with gasoline on Friday at a leak in the Tula-Tuxpan pipeline, a few miles (km) from a major refinery.
  • Oil prices dipped on Monday as China reported its weakest annual economic growth in 28 years, although oil prices remain relatively well supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC). International Brent crude oil futures (LCOc1) were at $62.57 per barrel at 0215 GMT, down 13 cents, or 0.2 percent, from their last close.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • China’s economic growth cooled slightly in the fourth quarter from a year earlier as expected, weighed down by weak investment and faltering consumer confidence as Washington piled on trade pressure, leaving 2018 growth the weakest in 28 years. Signs of further cooling in China — which has generated nearly a third of global growth in recent years — are stoking worries about risks to the world economy and are weighing on profits for firms ranging from Apple (NASDAQ:AAPL) to big car makers.
  • Tax systems that put a high burden on the poor mean public services are underfunded, stretching the gap between rich and poor and fuelling global public anger, Winnie Byanyima, executive director of Oxfam International, said on Monday. The Nairobi-headquarted charity said in a report that a new billionaire was created every two days last year, just as the poorest half of the world’s population saw their wealth decline by 11 percent.
  • Analysts have trimmed forecasts for Australian economic growth following some disappointing numbers last year, but still tip solid outcomes ahead even in the face of falling house prices and a slowdown in China. Economists polled by Reuters forecast Australia’s A$1.87 trillion ($1.34 trillion) of annual gross domestic product (GDP) expanded by 3.0 percent in 2018, down from 3.2 percent in an October poll.

COMEX GOLD SIGNAL

 

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