SGX Stock Recommendations

MARKET UPDATES :

• SINGAPORE’S headline inflation fell into negative territory to -0.3 per cent in November (from 0.1 per cent in October) – setting a new low since December 2009.The Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry said in joint comments that this was “mainly on account of base effects associated with fluctuations in car Certificate of Entitlement (COE) premiums”, and that price increases for other major categories – except food – also eased.

• SINGAPORE regulators could lower some hurdles for selling wholesale bonds to retail investors, following feedback    from the public.The latest proposals will relax conditions on deal size, a company’s past issuance and profitability. The Singapore Exchange (SGX) will also update the listing manual on matters related to trustees, who are typically responsible for taking action against defaulters on behalf of bondholders.

• Singapore’s JTC awards tenders for two industrial sites. The plot at Tuas South Street 9 (Plot 50) has been awarded to Prospaq Group for S$6.88 million. The 8,369 square metre site is zoned Business 2. The tenure for the site, which has a gross plot ratio of 1.0, is 20 years and 8 months.The second plot, at Tampines North Drive 1 (Plot 1), has been awarded to Goldprime Land, for S$64.4 million. The 27,395.2 square metre site has a gross plot ratio of 2.5. The land tenure is 30 years.

Forex Market Update

The dollar moved sharply higher against most major currencies on Tuesday after data showed the U.S. economy fared much better than previously expected in the third quarter.

The WSJ Dollar Index BUXX, -0.10%  jumped 0.41% to 82.90, after trading with a loss earlier in the day. The ICE dollar index DXY, -0.02%  climbed 0.32% to 90.06. Against the yen USDJPY, -0.27% the dollar rose to ¥120.76, up from ¥120.04 late Monday.

In other currencies, the euro EURUSD, +0.06%  traded at $1.2175, down from $1.2232 late Monday. 

The ruble USDRUB, -0.19%  improved to trade around 54.64 to the dollar, compared with 55.4182 late on Monday.

The pound GBPUSD, -0.01%  exchanged hands at $1.5509, down from $1.5592 on Monday, after a data revision indicated the U.K. economy is not growing as fast as thought.

S&P Market News Update

The S&P 500 and the Dow industrials have notched nominal record highs this week, and are rattling the cage on a more decisive breakout.

The S&P 500 Index has staged a four-session, 106-point spike from last week’s low.