Singapore Stocks Update :STI bound to exchange between 2,800-3,200: OCBC

Singapore Stocks Update : OCBC Investment Research is anticipating for the Straits Times Index (STI) to exchange as high as 4,125 of every 2019 of every a bull case situation.

As at Dec 5 this year, the record exchanged at 3,156, 18% higher than Bloomberg's objective of 3,721.

The examination house's base case is for the STI to exchange at around 3,632 with a potential upside of 17% from Dec 5 levels, in view of 7% profit development and a seven-year authentic normal value income proportion (PER) of 13.9 occasions.

Notwithstanding, with current macroeconomic vulnerabilities and a more drawback predisposition, it trusts the STI may almost certainly exchange between the 2,800-3,200 dimensions.

In a Dec 2018 report, Carmen Lee, head of OCBC Investment Research, suggests concentrating on an incentive over development stocks in the year ahead as the STI keeps on following greater markets in the area.

While Lee sees more activities emerging from Singapore's endeavors to wind up a shrewd country, she accepts customarily considered protective stocks are probably going to stay in play.

"At current valuations, valuations for the STI are not costly versus other local markets and its own authentic patterns. At current dimensions, the STI is exchanging at - 1 standard deviation beneath the authentic normal for both value profit and value book," notes Lee.

"On the worldwide front, a few expansive subjects may keep on playing out including computerized and portable installments, gaming and online games, the notoriety of collaborating space, elevated barrier spending, proceeded with accentuation on training and the earth," she includes.

As at 11.24am, the STI is exchanging 1.77 focuses bring down at 3,044.27.

Current Market Update

Tokyo (Nikkei Average NIK, +0.23% ) up 0.3% 
Hong Kong (Hang Seng Index HSI, +0.47% ) up 0.5% 
Shanghai (Shanghai Composite Index SHCOMP, +0.11% ) up 0.1% (at break) 
Sydney (S&P/ASX 200 XJO, +0.91% ) up 0.9% 
Seoul (Kospi SEU, +0.27% ) up 0.3% 
Mumbai (Sensex 1, +0.32% ) up 0.3% 
Taipei (Taiex Y9999, +0.34% ) up 0.2%

Asian Market Update

Asian stocks rallied, with the regional index headed for its biggest quarterly advance since 2012 amid optimism over global economic stimulus. The dollar maintained gains, while crude oil extended losses into a third day.

The MSCI Asia Pacific Index snapped a three-day drop, rising 0.5 per cent by 9.58am in Tokyo to be set for a 6.8 per cent advance over the past three months. Standard & Poor's 500 Index futures added 0.1 per cent following a second day of gains in the US gauge.

Japanese and Australian indexes jumped more than 0.7 per cent, with the yen and Australia's dollar near one-week lows. The South Korean won weakened 0.3 per cent. US oil slid 0.9 per cent, while gold held two days of declines.

Global equities have climbed almost 3 per cent this year as central banks from Europe to Asia bolster stimulus to address slowing growth. China announced measures aimed at stemming a property slump Monday after central bank Governor Zhou Xiaochuan said more can be done to support the economy.

SGX Singapore Opening Market Update

SINGAPORE share prices opened higher on Tuesday, with the Straits Times Index up 12.19 points or 0.35 per cent to 3,466.45 as at 9.01am, following rebounds in US and European markets.

Top gainers in early morning trade included Jardine C&C, DBS and Keppel Corp.

A total of 110.2 million shares worth S$274.3 million had changed hands as at 9.01am, on the last day of the first quarter of 2015. Gainers outnumbered losers 105 to 36.

SGX Singapore Closing Market Update

One gauge of market activity - or quality if you prefer - is the average value per unit traded. This is obtained by dividing the dollar value by turnover, the resulting number giving an idea of where the market's energies or interests were for the session in question.

For most of the first quarter of 2014 this statistic was well under S$0.50, indicating a preference for lower-priced or penny stocks. In the early part of this year, the figure hovered around S$1, which indicated a shift towards higher-priced issues - a shift that could roughly be interpreted to show a move from low- to higher-quality issues.

In Monday's session, however, dollar volume of S$959 million from unit volume of 1.6 billion yielded an average value of S$0.60 per unit traded, an uncomfortable result for those who were hoping the shift to higher-priced stocks would continue.

The Straits Times Index in the meantime, managed a 4.16 points gain at 3,454.26 on the second last trading day of the quarter, not a great outcome for those who bought at the end of last week in anticipation of a window-dressing push, but then again, there is still one more day to go. It was the index's fifth consecutive rise and the advance-decline score was 228-188 excluding warrants.

SGX Singapore News Update

REITs, Stapled and Business Trusts Offer High Yields

The 28 REITs listed on SGX have averaged a 4.6% YTD gain, similar to 11 listed Business Trusts average 5.7% YTD advance - bringing their average one-year total return to 18.4% each. The six listed Stapled Trusts have posted an average 2.1% YTD gain, taking their average one-year total return to 10.5%.

The average dividend yield for REITs is 6.2%, with 6.3% for Business Trusts, and 7.3% for Stapled Trusts, all of which are more than twice the yield of the Singapore Fixed Income Index (SFI) at 2.9%.

Dividend and yield stocks have remained in focus amid expectations that the Federal Reserve will raise rates slowly and cautiously this year. Rising interest rates affect REITs because they increase borrowing costs and could result in lower distribution per unit (DPU) yields and reduced asset values.

Dividend and yield stocks have remained in focus amid expectations that the Federal Reserve will raise rates slowly and cautiously this year. Rising interest rates affect REITs because they increase borrowing costs and could result in lower distribution per unit (DPU) yields and reduced asset values.

Singapore is the largest Real Estate Investment Trusts (REITs) hub in Asia Pacific ex-Japan, with 28 REITs, 11 Business Trusts and six Stapled Trusts listed on SGX, reflecting total market capitalisation of more than $83 billion. Over 70% of the REITs and property trusts own assets across Asia and Europe.

REITs invest in a wide range of diversified real estate assets such as office, residential, retail, hospitality, industrial properties or hi-tech parks. REITs listed on SGX that distribute at least 90% of their distributable income to the unit holders are granted tax transparency by IRAS and taxed only in the hands of unit holders.

As maintained by the Monetary Authority of Singapore (MAS), a Business Trust is a trust that runs and operates a business enterprise. Registered Business Trusts must have a trustee-manager whose role is to safeguard the interests of beneficiaries (referred to as ‘unit holders’ under the Business Trusts Act) of the trust and to manage the business of the trust (click here for more information).

Business Trusts offer investors a way to invest in cash-generating assets, including infrastructure, real estate and transportation assets. The 11 Business Trusts are made up of four Property Trusts, four Infrastructure Trusts, two Shipping Trusts and a Specialty Trust. The Property Trusts are Ascendas India Trust, Indiabulls Trust, Religare Health Trust and Croesus Retail Trust. The Infrastructure Trusts also consist of four trusts - CitySpring Infrastructure Trust, Keppel Infrastructure Trust, Hutchison Port Trusts and Asian Pay TV Trust. The Shipping Trusts comprise Rickmers Maritime and First Ship Lease Trust. The only specialty trust is Accordia Golf Trust.

The 28 REITs listed on SGX have averaged a 4.6% YTD gain, while the 11 listed Business Trusts have averaged a 5.7% YTD advance, bringing their average one-year total return to 18.4% each. The six listed Stapled Trusts have posted an average 2.1% YTD gain, taking their average one-year total return to 10.5%.

SGX Stock Recommendations

MARKET UPDATES :

• The Straits Times Index (STI) ended +18.51 points higher or +0.54% to 3450.1, taking the year-to-date per- formance to +2.52%.

• The FTSE ST Mid Cap Index gained +0.18% while the FTSE ST Small Cap Index gained +0.47%. The top active stocks were SingTel (+1.38%), DBS (-0.15%), UOB (+1.13%), Golden Agri-Res (+7.41%) and Keppel Corp (- 1.11%).

• The outperforming sectors today were represented by the FTSE ST Basic Materials Index (+2.32%). The two biggest stocks of the FTSE ST Basic Materials Index are Midas Holdings (unchanged) and Geo Energy Re- sources (-0.51%). The underperforming sector was the FTSE ST Oil & Gas Index, which declined -1.06% with Keppel Corp’s share price declining -1.11% and Sembcorp Industries’ share price declining -1.15%.

• The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India (-1.43%), SPDR Gold Shares (-1.19%), iShares USD Asia HY Bond ETF (+1.05%).

• The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (-0.92%), Suntec REIT (unchanged), CapitaCom Trust (-1.13%).

• The most active index warrants by value today were HSI25000MBeCW150429 (+2.50%), HSI24400M- BeCW150429 (+4.72%), HSI24200MBePW150429 (-4.95%).

• The most active stock warrants by value today were UOB MB eCW150701 (+9.92%), DBS MB eCW150915 (- 1.70%), KepCorp MBeCW150901 (-7.69%).

SGX Singapore News Update

Singapore's 20 largest active stocks average 12% total return over past year

Including both price changes and dividend distributions, Singapore’s 20 largest capitalised stocks that are actively traded have averaged a 12.0% return over the past twelve months.

This is in line with the STI performance which has generated a 9.1% price gain over the period while maintaining a 3.2% dividend yield.

Among these 20 stocks, the five strongest performers YTD were IHH Healthcare Berhad, Singapore Telecommunications, Hongkong Land Holdings, CapitaLand and Thai Beverage Public Company.

The 20 largest stocks that are actively traded on SGX have a combined market cap of S$ 469.5 billion. This means they account for 45.4% of the total market capitialisation of all stocks listed on SGX. These 20 stocks include 17 STI stocks. All the stocks listed in the table below are in the STI except for IHH Healthcare Berhad, Dairy Farm International Holdings and Great Eastern Holdings.

Including both price appreciation and dividend distributions, Singapore’s 20 largest capitalised stocks that are actively traded have averaged a 12.0% return over the past twelve months. This is in line with the STI which has generated a 9.1% price gain over the period while maintaining a 3.2% dividend yield.

Among these 20 stocks, the five strongest performers year-to-date were IHH Healthcare Berhad, Singapore Telecommunications, Hongkong Land Holdings, CapitaLand and Thai Beverage Public Company. In the year thus far, only five stocks reported negative returns, while the remaining 15 stocks reported higher total returns, bringing the average total return year-to-date to 3.6%.

SGX Singapore News Update

Penny stocks accounted for most of the action in the local market today, although a couple of blue chips, too, got a fair share of attention.

Some of the most actively traded small caps included Ellipsiz, which rose 12.9% to 13.1 cents; SIIC Environment, which put on 2.5% to 16.7 cents; Mirach Energy, which ended flat at 5.9 cents; and Albedo, which surged 25% to one cent.

A total of 1.6 billion shares worth $1.12 billion changed hands, compared with 1.5 billion shares worth $1.21 billion on Thursday.

Gainers outnumbered decliners 257 to 146.

The Straits Times Index rose 0.5% to 3,450.10.

The biggest gainer among blue chips was Golden Agri-Resources, which rose 7.4% to a five-week high of 43.5 cents.

Some 112.3 million Golden Agri shares were traded, making the palm oil producer the most active stock in the market. The renewed interest came after the shares sank to a six-year low of 39.5 cents last week.

Noble Group climbed 1.6% to 94.5 cents on a volume of 36 million shares.

"The law of diminishing returns has clearly set in on Iceberg Research’s third research report against Noble Group," said DBS Vickers, noting that the stock actually gained 4.5% when the final report was released on March 23.

The little-known research outfit has accused Noble of, among other things, understating its debt and overstating the value of its associates on its balance sheet. 

SGX Singapore Closing Market Update

In the past, there had been some concern expressed by investors that the passing of Singapore's founding prime minister, Lee Kuan Yew, might have an adverse impact on the local stock market.

They needn't have worried - Mr Lee's passing on Monday had little impact on the market, with the Straits Times Index rising 38 points or 1.1 per cent over the five days. On Friday, it rose 18.51 to 3,450.1, driven mainly by the banks and Singtel and volume was 1.6 billion units worth S$1.1 billion.

External considerations included gyrations on Wall Street because of interest rate expectations, Middle East problems including the rise of ISIS and the conflict in Yemen, and flow of money towards Europe because of the QE (quantitative easing).

Throughout the week there was more than a hint of quarter-ending window dressing which helped prop the index up, benefiting as it did the banks, Singtel and battered offshore marine sector plays like Keppel Corp.

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SGX Stock Recommendations

MARKET UPDATES :

• The Straits Times Index (STI) ended +12.57 points higher or +0.37% to 3431.59, taking the year-to-date per- formance to +1.97%.

• The FTSE ST Mid Cap Index gained +0.27% while the FTSE ST Small Cap Index gained +0.81%. The top active stocks were DBS (+0.89%), SingTel (+0.69%), Keppel Corp (+1.23%), CapitaLand (+1.97%) and Keppel Land (- 0.44%).

• The outperforming sectors today were represented by the FTSE ST Oil & Gas Index (+1.59%). The two biggest stocks of the FTSE ST Oil & Gas Index are Keppel Corp (+1.23%) and Sembcorp Industries (+1.40%). The un- derperforming sector was the FTSE ST Consumer Services Index, which declined -0.81% with Jardine Cycle & Carriage’s share price declining -0.15% and Genting Singapore’s share price declining -1.08%.

• The three most active Exchange Traded Funds (ETFs) by value today were the SPDR Gold Shares (+1.78%), STI ETF (+0.88%), LYXOR China H (-0.12%).

• The three most active Real Estate Investment Trusts (REITs) by value were CapitaCom Trust (+1.14%), Capita- Mall Trust (+0.46%), Ascendas REIT (+0.39%).

• The most active index warrants by value today were HSI24400MBeCW150429 (-5.22%), HSI25000M- BeCW150429 (-6.98%), HSI24800MBeCW150528 (-4.27%).

• The most active stock warrants by value today were DBS MB eCW150915 (+4.73%), UOB MB eCW150701 (+4.31%), KepCorp MBeCW150901 (+8.33%).

S&P Market News Update

After failed attempts at a rebound, U.S. stocks ended Thursday’s choppy session lower, declining for the fourth consecutive session.

The benchmark S&P 500 turned negative for the year and recorded its longest losing streak since January.

The S&P 500 SPX, -0.24% ended 4.90 points, or 0.2% lower at 2,056.15 with eight of its 10 sectors closing in the red. Technology stocks which took a beating on Wednesday rebounded, but modest gains weren't enough to lift the markets.

Current Market Update

Tokyo (Nikkei Average NIK, +0.35% ) up 0.4% 
Hong Kong (Hang Seng Index HSI, +0.02% ) flat 
Shanghai (Shanghai Composite Index SHCOMP, +0.30% ) up 0.3% (at break) 
Sydney (S&P/ASX 200 XJO, +0.57% ) up 0.6% 
Seoul (Kospi SEU, -0.08% ) down 0.1% 
Mumbai (Sensex 1, +0.13% ) up 0.4% 
Taipei (Taiex Y9999, -0.88% ) down 0.8%

Asian Market Update

Asian stocks outside Japan rose, paring weekly losses as US equity-index futures advanced. The yen held gains after inflation slowed more than forecast, while crude oil fell, trimming its best weekly climb since 2011.

The MSCI Asia Pacific excluding Japan Index added 0.1 per cent by 9.28 am in Tokyo, reducing its retreat in the week to 0.2 per cent. Australia's S&P/ASX 200 Index rebounded from its worst day this year, while Japan's Topix index headed for its first weekly decline since mid-January with the yen near a five- week high. Standard & Poor's 500 Index futures climbed 0.2 per cent following the gauge's longest slump since January. US oil slipped 1 per cent, paring its 11 per cent jump in the week.

Core inflation in Japan slowed to 2 per cent in February, trailing the 2.1 per cent projected by economists. Retail trade data is also due Friday, while China reports on industrial company profits before an update on fourth-quarter US growth. Mixed data in the past week has fueled concern over the American economy as analysts predict the forthcoming earnings season will see the first contraction in profits since 2009. Yemen has emerged as the latest ground for a proxy fight between Iran and Saudi Arabia, the world's top oil exporter.

SGX Singapore Opening Market Update

SINGAPORE share prices opened higher on Friday, with the Straits Times Index up 8.59 points or 0.25 per cent to 3,440.18 as at 9.05 am.

This is despite tepid losses in the US markets. The Dow Jones Industrial Average fell 40.31 points (0.23 per cent) to 17,678.23 after falling below 17,600 earlier in the session. The broad-based S&P 500 dropped 4.90 points (0.24 per cent) to 2,056.15, while the tech-rich Nasdaq Composite Index shed 13.16 points (0.27 per cent) at 4,863.36.

Top gainers in early morning trade include UOB, DBS and City Developments Limited.

Some 122.9 million shares worth S$93.6 million changed hands, with gainers outnumbering losers 90 to 54.

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SGX Singapore Closing Market Update

The Straits Times Index on Thursday rose 12.57 points to 3,431.59, possibly thanks to early quarter-ending window dressing as well as expectations of a Wall Street rebound on Thursday after a steep Wednesday plunge. The fall came despite weakness throughout the region and a soft opening for Europe.

Not unexpectedly, the three banks were among the index's top gainers, though there were also notable contributions from Keppel Corp, CapitaLand and Singtel. Turnover at 1.5 billion units worth S$1.2 billion compared well with Wednesday's feeble S$950.6 million. The broad market excluding warrants managed 249 rises versus 160 falls.

SGX Stock Recommendations

MARKET UPDATES :

• The Straits Times Index (STI) ended +5.76 points higher or +0.17% to 3419.02, taking the year-to-date per- formance to +1.60%.

• The FTSE ST Mid Cap Index gained +0.38% while the FTSE ST Small Cap Index gained +0.48%. The top active stocks were SingTel (+0.70%), UOB (+0.61%), DBS (-0.05%), Keppel Corp (+1.13%) and OCBC Bank (+0.29%).

• The outperforming sectors today were represented by the FTSE ST Utilities Index (+3.48%). The two biggest stocks of the FTSE ST Utilities Index are United Envirotech (+0.31%) and Hyflux (+1.14%). The underperform- ing sector was the FTSE ST Real Estate Holding and Development Index, which declined -0.33% with Hongkong Land Holdings’ share price declining -0.94% and Global Logistic Properties’ share price gain- ing +0.78%.

• The three most active Exchange Traded Funds (ETFs) by value today were the SPDR Gold Shares (+0.05%), iShares S&P500 Ivv (-0.90%), IS MSCI India (-1.14%).

• The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (-0.46%), Ascen-das REIT (-0.78%), Keppel REIT (-0.42%).

• The most active index warrants by value today were HSI24400MBeCW150429 (+8.94%), HSI25000M- BeCW150429 (+8.86%), HSI24800MBeCW150528 (+8.33%).

• The most active stock warrants by value today were DBS MB eCW150915 (+1.20%), UOB MB eCW150701 (+4.51%), KepCorp MBeCW150901 (+6.67%).

S&P Market News Update

U.S. stocks were bludgeoned in Wednesday trading with the Dow threatening a 300-point drop as the Nasdaq Composite suffered its steepest decline since April 2014 as investors dumped technology and biotechs shares.

The S&P 500 SPX, -1.46%  fell 30.45 points, or 1.5% to 2,061.05, with nine of its 10 main sectors finishing sharply lower.