SGX IForex Recommendations

TRADING TIPS :

GBP/USD eased off 1.5030, the session low, to hold steady at 1.5074 during European morning trade.The pound found some support after market research group Markit said that its U.K. manufacturing purchasing managers’ index rose to 53.0 last month from a reading of 52.5 in December. Analysts had expected the index to inch up to 52.6 in January.Commenting on the report, Rob Dobson, senior economist at survey compiler Markit, said, “At this rate, the sector will provide little meaningful boost to the economy in the first quarter.”Markets were still jittery after Greece’s new government said it will not cooperate with the International Monetary Fund and the European Union and will not seek an extension to its bailout program, underlining fears over a clash with its international creditors. sentiment on the dollar remained vulnerable after the Commerce Department said in a report on Friday that the U.S. economy expanded 2.6% in the final three months of 2014, below expectations for a 3.0% gain and slowing sharply from growth of 5.0% in the three months to September.

INTRADAY OUTLOOK

Support: 1.4987

Resistance: 1.5072

RECOMMENDATION:

1. Buy GBP/USD Above 1.5074-TG: 1.5094/1.5124 SL 1.5044

2. Sell GBP/USD Below 1.4985-TG: 1.4965/1.4935 SL 1.5015

INTRADAY OUTLOOK

Immediate Support: 1.1282

Immediate Resistance: 1.1372

RECOMMENDATION:

1. Buy EUR/USD Above -1.1374 TG: 1.1394/1.1424 SL 1.1344

2. Sell EUR/USD Below -1.1280 TG:1.1260/1.1230 SL 1.1310

SGX Comex Recommendations

INTERNATIONAL COMMODITY NEWS :
Gold prices held mostly steady on Tuesday in Asia with investors looking ahead to Chinese New Year demand.On the Comex division of the New York Mercantile Exchange, gold futures held nearly steady, down 0.02% at $1,275.20 a troy ounce.Overnight, gold remained in negative territory on Monday, despite data showing that U.S. personal spending declined for the first time in 20 months in December. The Commerce Department said that personal spending fell 0.3% in December, worse than expectations for a decline of 0.2%. Consumer spending is the single biggest source of U.S. economic growth, accounting for as much as two-thirds of economic activity.

TRADING STRATEGY :
BUY GOLD ABOVE 1283 TARGET 1288 1294 SL 1277
SELL GOLD BELOW 1270 TARGET 1265 1259 SL 1276

SGX Stock Recommendations

MARKET UPDATES :

• SINGAPORE shares end higher on Monday.The Straits Times Index gained 32.15 points to 3,423.35.Some 1.31 billion shares, valued at S$1.29 bllion were traded. Gainers numbered 182 while losers numbered 261.

• IPC Corporation on Monday posted a 57.1 per cent increase in full-year net profit to S$28.6 million for its fiscal year ended Dec 31, 2014.This was despite the property developer and hospitality group’s 28.9 per cent drop in sales to S$33.4 million. “Majority of the apartment units from the Oppama condominium project were sold in 2013, thereby resulting (in) a decrease in revenue for FY2014,” it said.Its earnings, however, were boosted by gains of S$22.7 million from the revaluation of investment properties in Japan, and gains of S$14.8 million on the disposal of investment properties in Japan.

• CATALIST-LISTED Singapore eDevelopment, formerly known as CCM Group, on Monday said it expects to report a loss in its unaudited financial results for the financial year ended Dec 31, 2014 (FY2014).The expected loss was mainly due to losses incurred by its legacy construction business (prior to the disposal of CCM Industrial in May 2014), losses and provisions made arising from claims against corporate indemnities previously issued to its legacy construction business, as well as a non-cash fair value adjustment of embedded financial derivative arising from the issuance of exchangeable notes, said the company.

• YuuZoo Corporation on Monday said it has partnered Activistic – an Australian company specialising in micro-donations and micro-payments – to provide a platform across YuuZoo’s networks to enable micro-donations and micro-payments for charitable purposes.The initial focus will be on emerging markets, where limited access to credit card payment tools restricts the donation base of organisations, said the company.The platform will also bring a new dimension to the YuuZoo eco-system and another engagement path for Gen-Y in the developed markets, added YuuZoo. Said Activistic executive director Kevin Baum: “The process of donating is stuck in the last century.

• Agri-food company Japfa on Monday said it has acquired the remaining 15 per cent of Japfa Comfeed Myanmar (JCMA) for US$5.7 million, making JCMA a wholly-owned subsidiary of the group. The acquisition is made via a conditional share purchase agreement (SPA) between Japfa’s wholly-owned subsidiary Japfa Myanmar JV – which currently holds 85 per cent of JCMA – and Best Livestock Limited, an unrelated third party, for the remaining 15 per cent of the issued share capital of JCMA. The US$5.7 million consideration was arrived at on a willing-buyer, willing-seller basis, said Japfa. A refundable deposit of US$1.0 million will be paid around Feb 2.