May[3] - Financial Highlights (Companies)

The following counters released respective latest financial results last week. A summary is provided. HPH Trust, Talkmed, Capitaland, Duty Free, Semb Marine, Japfa, Yangzijiang (YZJ), iFAST, Sheng Siong.

May[2] - Financial Highlights (REIT)

The following counters released respective latest financial results last week. A summary is provided. Ascendas REIT, Cambridge Industrial Trust (CIT), CDL HTrust, Mapletree Greater China Commercial Trust (MPGCT), Mapletree Logistics Trust (MLT), Starhill Global REIT

May[1] - Market Updates

Crude Oil:
Ahead of OPEC meeting on May, Oil price has been under sell down pressure. Potential extension on production from OPEC tends to neutralize rising active oil rig from US, so oil price has been moving in side way channel year to date. Last trading day saw price residing on support line of upward channel. Shall the support withhold, short term trader could take position by oil ETF to enjoy short term rebound.

Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)

Apr[11] - Financial Highlights

The following counters released respective latest financial results last week. A summary is provided. M1, Keppel T&T, China Aviation, SGX, Keppel Co, First REIT, Keppel DC REIT, Capitaland Commercial Trust (CCT), Capitaland Mall Trust (CMT), Cache Logistics Trust.

Apr[10] - Market Updates

Singapore:
STI ended a bearish week. The recent rally came to rest with immediate resistance 3187. Immediate support is 3112. A side way channel was formed as below. On coming week, market will react to the result of first round French presidential election on Sunday. Domestic factor includes more financial results from listed companies.

Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)

Apr[9] - Financial Highlights

The following counters released respective latest financial results last week. A summary is provided. SPH, SPH REIT, SOILBUILD BizREIT

Apr[8] - Market Updates

Singapore:
STI experienced a flat week. As seasonal quiet period coincides with rising geographical tension, investor switched into risk averse mode. Immediate resistance is 3187, while support ~ 3112. Coming week shall see more results among local listed counters.

Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)

Apr[7] - Banks Review

Generally, banks have hit resistance over past two months. 19.4 (dividend yield ~ 3%) seems to be ceiling for DBS. A higher low formation suggests pretty strong demand from investors. OCBC has been range bouncing between 9.4 to 9.78 (dividend yield ~ 3.7%). The group has been buying back shares from open market actively and regularly until last week. Following potential bankruptcy from Ezra, non performing loan (NPL) shall be one major focus to banks on coming results announcement. Net income has been falling quarter on quarter and year on year. Investors shall pay attention as well on whether any rebound on banks' earning strength.

Apr[6] - Offshore Review

Recovery on oil price injected some support to offshore sectors. Keppel Co is enjoying valuation premium hardly seen among its peers. Current price, 6.88 translates to PE ~ 16 and PB ~ 1.06. It was awarded contract to build fourth water desalination plant of Singapore. Potential stakes sales of M1 could strengthen its cash flow as well.

Sembco Ind is still trading under its book value (3.75). Its overseas power plant business would be major growth factor while offshore segment still under pressure. Lately US District Court gave favorable judgement towards both offshore counters involved in Brazil Sete saga. Both counters are showing side way trend in price movement. Any further impairment loss and debt condition shall be the focus on coming results announcement.

Apr[5] - Utilities Review

On last trading day, ComfortDelgro showed sign of break up from its five months resistance ~ 2.63 (dividend yield ~ 4%). Competitive taxi segment dampened confidence among investors towards the counter. Bidding results of Seletar bus package (expected on April) could be one price catalyst in near term.

Singtel has been hitting its two months support ~ 3.85 (dividend yield ~ 4.5%). In recent spectrum auction, it won maximum allowable spectrum at shockingly high price. Being the strongest domestic telco player, its Netlink IPO plan could be price catalyst in near term.

Coming result announcement could be critical to Singpost, since its management highlighted potential impairment from eCommerce segment in US. The counter saw price gap down from 1.475 to 1.41 on mid Feb. This un-traded zone could be tested again in future. Recent price trend suggests that 1.315 could be support from recent downfall.

Apr[4] - Others Review

Last quarter, Capitaland registered strong earning results, mainly due to higher handover development in China. On Mid March, China announced new round of cooling measures on property prices in selected cities. The impact remains to be seen on following results announcement. Price has been rally since early the year. 3.75 (7% discount from book value) seems to be ceiling meantime. Market could be expecting further loosening on local property cooling measures as well.

In February, Changi Airport's flight handled fell 1.7% year on year, the first decline in 23 months. It gave some pressure to ground handlers, SATS. Price fell down from all time high, 5.36. Immediate support is ~ 4.71 (dividend yield ~ 3.2%). Last three months saw the group raising stakes on Malaysia catering company as well extending partnerships with Hong Kong Airlines in Hong Kong Hub. On coming results announcement, it shall also declare dividend for 2H2016.

Following bullish performance of local index since early the year, SGX back to investor's favor again. 2017 peak, 7.8 translates to dividend yield ~ 3.6%. So far, it has clinched 11 new IPOs, more than double the 5 in FY2016. With strong cash on hand, market speculates potential merging & acquisition from the group.

Apr[3] - Market Updates

Gold:
Gold price has been hovering around resistance ~USD1260 over past two weeks. It tended to break up when US launched air strike on Syrian last Friday morning. Until end of trading hours in US, gold price rally paused and ended USD1253. Price trend formed higher low formation since early 2017. Shall regional tension intensify further, a triple top break might realize on gold. Generally, gold is treated as safe heaven when market is in panic mode.

Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)