Jul[4] - Property Sector Highlights

On last Thursday, a 5% increase in stamp duty was announced on some home buyers who is going to buy second or more properties. The change in policy came alongside tighter housing loans by Singapore's bid to keep price increase in line with economics fundamentals. Most of properties suffered heavy punch in shares price immediately on following day. A quick highlight on valuation of some major properties counters was shared below:

Generally most counters were trading > 20% lower than its 52 weeks high. Only Ho Bee Land slightly above its 52 weeks low. Recent acquisition of Ropemaker Place in UK could enhance its recurring EBIT by 39%. Bukit Sembawang and Wheelock are the only two close to zero debt. Former actually giving highest dividend at 6%, but with most exposure to SG residential market. Latter has more development projects in China. Capitaland has substantially sold off residential projects in SG. Underpinned by growing earning from commercial portfolio across the region, current dividend yield ~ 4% looks undemanding.

Jul[3] - Market Updates

Crude Oil:   
Following US sanction on oil import from Iran and surprising depletion in its domestic inventory on week before, crude oil has been rally ~ 20% for past two weeks. Few bearish factors could be expected, such as rising production from OPEC and Russia. Tariff war between US and China could restrict import from China as well. Trader could position from following ETFs for consolidation movement of oil price.

Trade on bullish Oil: Oil ETF (ticker: DBO)
Trade on bearish Oil: Inverse Oil ETF (ticker: SCO)

Market Calendar on coming week:   
(SG: Singapore; CH: China; US: USA). 

Jul[2] - Institute's Top BUY

The counter has been gathering strong interest from institutes fund. It top the buying list from mid May till last week, which translates to price zone ~ 1.22 as below chart. Higher low formation was seen. It might worth some attention for such accumulation activity.

Jul[1] - Market Updates

Singapore:   
STI broke its 2018 support last week. Trend look bearish for now but bull might not lose its battle yet. Next support would be ~ 3188 which was formed since 2017 April. 3342 shall become immediate resistant. On coming weeks, market would shift attention to latest earning reports from respective counters.

Market Calendar on coming week:   
(SG: Singapore; CH: China; US: USA). 

Jun[8] - Rebounding Counters

In tandem with overall market sell down, the following counters have been falling in price heavily but somehow they showed sign of hitting support or rebounding on last trading days.

<Capitaland> A hammer was seen when the counter down > 10% from its peak on last May. Current price represent >20% discount from its net tangible asset value. Further sell down shall be interpreted as more value to be hunted.

<M1> Significant buying volume on M1 could signal its downfall hitting some support for now. Market has been worrying over earning prospect of three local Telcos. During latest investor day Q&A, Singtel actually mentioned local market couldn't accommodate four telcos, so potential consolidation might take place.

<QAF> The producer of famous brand "Gardenia" has been facing severe challenge on its major business segment, primary production. Rivalea (its subsidiary, running pork production in Australia) is badly hit by oversupply in pork industry. Incidents like calling off of IPO plan, ammonia leakage in warehouse added more pressure to it. Looking at chart, price rebounded twice from 0.95 which is its net assets value. Considering its strong balance sheet, and potential business yet to announce, it deserve a place in watch-list for current price.

Jun[7] - Market Updates

US:   
DOW Jones has been swinging between 23340 to 25770 since last February. Shall 23340 baseline withhold, the downtrend is yet to come. 2Q earning will kick on week after next. It could draw more attention from market soon.

Market Calendar on coming week:   
(SG: Singapore; CH: China; US: USA). 

Jun[6] - Yield Hunt (STI Constituents)

SGX has undemanding valuation than its global peers. Its defensive business nature and deep pocket could protect itself well in volatile market condition as proven bearish cycle. Thus its weakening price period shall be interpreted as buying chance.

Telcos have been suffering in intensifying price competition in local market. Trading price is under severe winter as well. Singtel was singled out for consideration, mainly for its diversifying business. There is not single segment contributing more than 10% earning of the group. Its shares could be treated as "semi-bond" type for consistent dividend payout.