SGX Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices rose slightly in early Asia on Thursday with the focus on next week’s Federal Reserve meeting for signals on interest rates. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,227.50 a troy ounce, up 0.05%, after hitting an overnight session low of $1,225.70 and off a high of $1,238.90. Overnight, gold futures held steady on Wednesday after the dollar cooled its rally due to profit taking amid safe-haven demand for the yen, though uncertainty in Europe sent the yellow metal dipping into negative territory during afternoon trading on concerns the dollar may rise in the near future.

TRADING STRATEGY :
SELL GOLD BELOW 1223.5 TARGET 1218.5 1212.5 SL 1229.5
BUY GOLD ABOVE 1233 TARGET 1238 1244 SL 1227

SGX IForex Recommendations

TRADING TIPS :

EUR/USD held steady at 1.2379, as investors remained cautious following a surprise decision by the Greek government to bring forward a parliamentary vote for president to next week from February. Markets were spooked by the risk of snap elections which could take place if Prime Minister Antonis Samaras’ candidate is not approved by parliament, which could see the anti-bailout Syriza party take power.The decision prompted the stock market in Athens to plummet 9.5% on Tuesday, the largest one day decline in over 20 years.The Greek stock market suffered fresh falls on Wednesday and the yield on Greece’s 10-year bond rose to 8.55% from 8.12% late Tuesday.

INTRADAY OUTLOOK

Support: 1.2353

Resistance: 1.2399

RECOMMENDATION:

1. Buy EUR/USD Above 1.2401-TG:1.2421/1.2451 SL 1.2371

2. Sell EUR/USD Below 1.2350-TG:1.2330/1.2300 SL 1.2380

INTRADAY OUTLOOK

Immediate Support: 119.10

Immediate Resistance: 119.64

RECOMMENDATION:

1. Buy USD/JPY Above 119.66-TG:119.86/120.16 SL 119.36

2. Sell USD/JPY Below 119.08-TG:118.88/118.58 SL 119.38

SGX Stock Recommendations

MARKET UPDATES :

• The Taiwan Stock Exchange will kick off cross trading with the Singapore and the Tokyo stock exchanges next year, the Taipei bourse's president said on Wednesday, in a bid to bolster its position after launch of the Shanghai-Hong Kong trading link. The Taiwan Stock Exchange (TWSE) and the Singapore Stock Exchange (SGX) will be ready to allow their investors to trade stocks on both bourses in July 2015, TWSE president Michael Lin told Reuters.

• GLOBAL mutual funds were net buyers of Singapore stocks in the three months to Dec 3. Based on the top five transacted stocks, net buys totalled S$1.77 billion, compared to net sells of S$684 million.

• Singapore Exchange Ltd had to take the rare step on Tuesday of issuing an announcement about unusual trading activity in its own shares. The bourse noted that more than 8 million of its shares had changed hands during the day, more than four times the 200-day daily average of 1.5 million. Its share price climbed 3.4 per cent to close at S$7.60, its highest since August 2013.

• SapuraKencana Petroleum Bhd has awarded eight contracts collectively worth RM1.58 billion(~US$459 million). Three contracts are within the FHUC division worth US$206mn (includes an EPCC of Baronia and Tukau wellhead platforms offshore Sarawak, provision of brownfield works, PCC of the Angsi compression module). Three contracts are within the OCSS division worth US$151mn (includes provision of T&I for Tembikai's CPP, provision of buoyancy tanks and EPCIC of a wellhead platform and lower compression platform in Myanmar). Two contracts are within the Drilling division worth US$102mn.

• Keppel Land - Fruits not fully borne via ongoing portfolio fine - tuning; assuming coverage with a Neutral rating - : The group has actively redeployed capital to its core markets in 2014, and we expect this to continue into 2015, given its low gearing of 37%. But with the majority of its offices divested, KPLD has increased exposure to the more volatile residential segment, where demand is modest at best in Singapore and China.

• City Developments - Limited near - term catalysts unless measures are withdrawn; assuming coverage with Neutral rating-: While CIT continues to do well in the current property downcycle, it is not immune to a subdued price and volume outlook. South Beach Tower's increased pre - commitmen t is encouraging, though more asset recycling could take place to fund its overseas expansion. With limited nearterm catalysts, we think the stock will trade sideways unless signs emerge on any possible withdrawal or tweaking of existing cooling measures.