Oct[4] - Banks Screening

Local banks have been falling ~20 to 30% from respective peak of share price this year. In fact, they led the recent down sliding of entire market. Historical mean value for bank shares is about 1.5 P/B (Price to Book) of which have been exceeded on mid of this year. Bank shares fall below Book Value during crisis period, such as 1999, 2009 and 2016 as shown below.

Latest update on valuation of banks are below.

UOB just released it's earning last week. NAV and RNAV reached 20.78/share and 23.64/share with 5% improve year to year. DBS and OCBC will give respective announcement on 5 Nov and 1 Nov. It's everyone guess whether we are coming to any stock market crisis period. From perspective of valuation, recent plummet across bank shares deserve some attention of investors. OCBC was selected for showing price valuation chart below. Support at 10.87 already broken, bargain hunter could back anytime soon.

Oct[3] - Market Updates

Singapore:
STI formed a triple top break up on 2016. Since Trump was elected as president, market has been charging forward in full gear. Recent sell down brought STI back to where it began. Shall 2960 been broken, more downside could be seen. STI ETF would be one useful instrument for long term investor in such a market condition. Investors could collect dividend while waiting for next rally. Dollar cost averaging is recommended so not to miss any opportunity of catching bottom.

Market Calendar:

Oct[2] - Market Updates

US:
US market is experiencing the return of volatility which is exactly the same as early 2018. Rising interest rate and falling of 10 years bond price have shaken market confidence. DOW JONES found some support ~ 25000 last week. ~ 23500 would serve as major support for current correction. Interesting to see there is not any strong support from 23500 to 18000. The bear seems to be gaining strength for now.

Market Calendar:

Chart[94] - Man Oriental

The counter hit its 1 year peak ~ 2.7 on last June. Thereafter, its price has been free falling about 30%. Last two weeks saw price edging up with rising transaction volume. Buying interest could be gathering pace on the counter for the moment. Shall immediate resistance 2.03 been cleared. more upside could be seen. If support 1.75 fails to hold, downtrend would resume.

Relevant News:
[1] https://www.theedgesingapore.com/mandarin-oriental-hits-south-america-amid-new-hotel-push
[2] https://www.theedgesingapore.com/excelsior-hong-kong-close-end-march-us650-mil-redevelopment

Oct[1] - Market Updates

Singapore:
STI has lost > 6% over last week. Trend is looking down although small rebound on last trading day. On coming weeks, market could shift attention to latest earning performance among listed companies. Considering volatile condition especially in US, investors are advised to reshuffle portfolio shall STI goes into small rally again.

 

Market Calendar:

Chart[93] - ThaiBev

The counter has been moving in downward channel since late 2017 as shown on first chart. There was a small rally in price since mid September but failed to break up the from channel still.

 

Zooming into the chart, price actually fell with small volume last week. Last trading day saw a rebound instead. Shall it clear resistance 0.66, 0.71 is worth for waiting. Downtrend would persist if price fall back support ~ 0.61 again.