SGX IForex Recommendations

TRADING TIPS :
EUR/USD was up 0.28% at 1.2509, up from a session low of 1.2444 and off a high of 1.2531. The pair was likely to find support at 1.2372, Monday’s low, and resistance at 1.2600, last Wednesday’s high.The euro firmed against the dollar on Wednesday after a mixed bag of U.S. data left investors questioning the strength of U.S. recovery and the timing of Federal Reserve rate hikes next year. It was the highest level since early September, confounding market calls for a decrease of 5,000.Finally, data showed that sales of new homes rose 0.7% in October to an annual rate of 458,000 units, but pending home sales unexpectedly fell 1.1% last month.Elsewhere, the euro was down against the pound

INTRADAY OUTLOOK
Support: 1.2483
Resistance: 1.2530

RECOMMENDATION:
1. Buy EUR/USD Above 1.2532-TG:1.2552/1.2582 SL 1.2502
2. Sell EUR/USD Below 1.2480-TG:1.2460/1.2430 SL 1.2510

INTRADAY OUTLOOK
Immediate Support: 117.31
Immediate Resistance: 117.89

RECOMMENDATION:
1. Buy USD/JPY Above 117.91-TG:118.11/118.41 SL 117.61
2. Sell USD/JPY Below 117.29-TG:117.09/116.79 SL 117.59

SGX Stock Recommendations

MARKET UPDATES :

• SINGAPORE share prices opened down on Wednesday with the Straits Times Index down 5.90 points to 3,339.09.Volume was 101.8 million shares worth S$208.0 million. Losers outnumbered gainers 71 to 54.

• SINGAPORE shares ended higher on Wednesday with the Straits Times Index gaining 4.67 points to 3,349.66. Some 1.63 billion shares, valued at S$1.21 billion were traded. Gainers numbered 224 while losers numbered 186.
• A LITANY of external risks could throw the official 2-4 per cent growth forecast for 2015 off-course, even as the government announced better-than-expected Q3 GDP numbers and projected economic growth of “around 3 per cent” for 2014.

• SINGAPORE’S manufacturing sector expanded – albeit barely – in October, with industrial output rising just 0.2 per cent on a year-on-year basis. It was pulled up by a double-digit increase in pharmaceuticals production, which offset contractions in the electronics and transport engineering clusters. Excluding biomedical output – which grew 22.5 per cent in October – industrial production would have declined 4.3 per cent.

• FAMILY offices in Asia-Pacific did poorer than their European and North American counterparts over the last 12 months, a study by UBS and Campden Research showed on Wednesday. Family offices are wealth management advisory set-ups that serve the financial and investment needs of affluent families.

Samsung Market News Update

Samsung Electronics Co. said it would repurchase $2 billion worth of its shares, its first buyback in seven years, as it deploys a part of its hefty cash reserve to shore up its flagging share price.

In a regulatory filing after the close of trading Wednesday, Samsung said it was returning the cash to improve shareholder returns and stabilize its stock price, which is down 12% so far this year.

The buyback announcement comes after a number of high-profile stockholders and analysts have publicly called for improved shareholder returns. Samsung’s dividend yield, which measures a company’s annual dividend in relation to its share price, is around 1.2% — about half that of peers such as Intel Corp. INTC, +1.60%  and Taiwan Semiconductor Manufacturing Co. 2330, +1.08% TSM, +1.18%