Dec[11] - Cash is King

The following counters were shortlisted for its strong cash / cashflow position. Price has been easing recently which might translates to buying opportunity.

Dec[10] - Market Updates

Singapore:  
STI completed FY2017 with outstanding gain of 17%. However, trend looks stagnant from mid Oct till now. It  has been range bouncing between 3341 to 3468. 10 years peak 3550 could be visible target in FY2018. Investors shall take opportunity to reshuffle its portfolio. Debt affordability might be issue to company while we are entering high interest rate (tightening monetary policy) cycle.

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

Dec[9] - Property Developer Review (Large Cap)

Among top 6 market capitalization of property developer listed in SGX, the following counters were shortlisted because they have high exposure to local property market. In term of valuation, they are still trading below respective book value. The counters are Capitaland (CAP), Frasers Centerpoint Limited(FCL) and UOL

Dec[8] - Market Updates

Crude Oil:  
Oil Price has been enjoying in bullish run since last June. It is supported by extended production from OPEC and non OPEC but capped by potential rising in Shale Oil production activity. Resistance ~ USD60 and support ~ USD55. Such a range bounce movement might inject confidence among oil counters investor.

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

Dec[7] - REITs Review

Following last week FOMC meeting, monetary policy will be further tightened on next year. As a dividend instrument, REIT performance might be sensitive to interest rate. Therefore we review a few local REIT counters as below from respective financial condition as well as business prospect. Yellow color highlights counters with dividend yield out-performing its peers. Pink color highlights decrease in earning and rising debt gearing.

Dec[6] - Market Updates

Fed Fund Rate vs DOW Jones:  
On last FOMC meeting of 2017, US interest rate was raised to 1.25 ~ 1.5%., with three more hikes were expected for next year. The monetary policy has been loosening since 2009 (global market collapsed). Next year, interest rate could finally back to it's level which was last seen on 2008. Bond buying will shrink US$20b/month (from US$10b/month) from Jan as well.

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

Dec[5] - Book Value Hunting

The following counters share similar characteristics: low debt or even net cash position yet share price under its net asset value (book value). Its business condition and outlook were shared below.

Dec[4] - Market Update

Singapore:  
STI has been edging downwards since last Monday, but managed to bounced up on last trading day. Coming to last month of 2017 with holiday seasons around the corner, it could be a quiet month ahead. Outperforming trade data from China and tightening labour market result from US boasted market confidence meanwhile. Last FOMC meeting from Yellen falls on next week. Latest decision on its monetary policy could be last decisive factor to market for the year. 3341 seems to be strong support for STI, while it is try to test resistance ~ 3450.

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

Dec[3] - Laggards Play - Yield chart

Dec[2] - Laggards Play - Busines Operation

The following counters were shortlisted from STI constituents. Different from other constituents, their price movement have been deviating from recent STI rally. Thus they could be taking driver seats shall STI rally to continue, or enter correction phase. SingTel and Wilmar belongs to retail and consumption sector. SIA Eng and ST Eng offers attractive dividend yield. Sembco Ind could be a laggard performer among oil price recovery. It's trading under heavily discount from book value.

Dec[1] - Market Updates

Singapore:  
STI's 10 years peak ~ 3550 is not longer far away based on recent bull charging. Looking backwards, such rally didn't go through much consolidation. The vulnerability to market uncertainty could be rising. Investor shall begin deleveraging (taking profit) from portfolio in such euphoria condition. 

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

Nov[9] - Financial Highlights - 1

The following counters released respective latest financial results last week. A summary is provided.
800 Super, Bumitama, ComfortDelgro, CNMC Goldmine, Declout, Frasers Centrepoint, Golden Agri, Golden Energy, Hatten Land, Health Management International (HMI), ISDN, ISOTeam, Mermaids Maritime, Moya Asia.
 

Nov[8] - Financial Highlights - 2

The following counters released respective latest financial results last week. A summary is provided.
Nam Cheong, Oceanus, Powermatic, QAF, Silverlake Axis, Singpost, Spackman, Straco, Uni-Asia, United Engineer, Wilmar, Ying Li, Yongnam, Asian Pay TV Trust (APTT)

Nov[7] - Market Updates

Crude Oil:  
Oil price has been running up and more volatile ahead of meeting between OPEC and non OPEC on 30 Nov. Positive factors are rising tension in middle east, potential extension of production cut in OPEC, but upside might be capped by rising oil output from US. Current price broke up from 53, but might face resistance around 58 to 62. Volatility ahead might present trading opportunity.

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; UK: United Kingdom; US: USA; JP: Japan). 

Nov[6] - Financial Highlights - 1

The following counters released respective latest financial results last week. A summary is provided.
Best World, BreadTalk, Capitaland, Centurion, CSE Global, DBS, Dutech, Ezion, Gallant Venture, Genting SG, Netlink Trust and Noble

Nov[5] - Financial Highlights - 2

The following counters released respective latest financial results last week. A summary is provided.
Nordic, Perennial, Raffles Education, SATS, SIA, SingTel, ST Eng, SUTL, Talkmed, UOL and Vallianz

Nov[4] - Market Updates

Singapore:  
STI has been rising for 6 consecutive weeks as shown in weekly chart below. 3348 serves as support, while strong resistance would be ~ 3526. Generally market sentiment is bullish while index constituents have released encouraging earning results. Investors could take the opportunity of recent bullishness to reshuffle portfolio. Laggard from the bull run could be potential target.

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

Nov[3] - Financial Highlights - Companies

The following counters released respective latest financial results last week. A summary is provided.
Falcon Energy, China Aviation Oil, HPH Trust (HPHT), mm2, Oxkey, Raffles Medical, Rowsley, Semb Marine, Sembco Ind, SIA Eng, Starhub

Nov[2] - Financial Higlights - REITs

The following counters released respective latest financial results last week. A summary is provided.
Ascendas REIT, Frasers Logistics & Industrial Trust (FLT), Manulife US REIT, OUE Hospitality Trust (OUE HT)

Nov[1] - Market Updates

Oil:  
Crude Oil broke up from 2017 resistance ~ 55.2 last night. Bullish inventory data from US and extension on production cut among OPEC drove the rally over past few weeks. The next resistance could be ~ 57 to 58. End of November shall see meeting among OPEC.

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

Oct[11] - Financial Highlights - REITs

The following counters released respective latest financial results last week. A summary is provided.
Cache Logistics, Frasers Centrepoint Trust (FCT), Frasers Hospitality Trust (FHT), First REIT, Mapletree Commercial Trust (MCT), Mapletree Industrial Trust (MIT), Mapletree Logistics Trust (MLT), Sabana REIT, Starhill Global REIT, Viva Industrial Trust (VIT)

Oct[10] - Financial Highlights - Companies

The following counters released respective latest financial results last week. A summary is provided.
Japfa, OCBC, Sheng Siong, SGX

Oct[9] - Market Updates

Singapore:  
STI hit its new peak for 2017! After consolidation between 3220 to 3350 for past 3 months, market finally decided on new path ahead. Next resistance will be 3467, then 3550. Federal Reserve has interest rate meeting on next Thursday.

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

Oct[8] - Financial Highlights

The following counters released respective latest financial results last week. A summary is provided.
M1, Keppel Telecommunications & Tranportation (KTT), Keppel Co, Mapletree Greater China Commercial Trust (MGCCT), Keppel DC Trust, Keppel REIT, Frasers Commercial Trust, Capitaland Mall Trust (CMT) and Capitaland Commercial Trust (CCT)

Oct[7] - Market Updates

Singapore:
STI has briefly touched 2017 peak ~ 3355 last week as refer to upper chart below. Buoyed by banks, property and marine sectors, a break up from 3355 might not be impossible by this year. Shall it break up successfully, next resistance could be ~ 3467, which is pretty close to 10 years peak 3550.

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

Oct[6] - Financial Highlights

The following counters released respective latest financial results last week. A summary is provided.
Duty Free, SPH, SPH REIT, Soilbuild REIT

Oct[5] - Market Updates

US:  
VIX, Wall Street's so-called 'fear gauge' fell to its historical low range while market is riding its bullish trend. The index is based on options contracts on the S&P 30-days in the future, thus can be interpreted as market perception on market volatility. Market panicking selling moment used to coincide with spike up in VIX, thus it is widely used as one hedging tool to protect investor's stock portfolio. While DOW Jones is hovering around historical peak now, investor could position by buying VIX ETF. Handsome return could be awarded on next fear cycle, which could be triggered by any event, such as military conflicts in region, unfavorable policy from US government, unexpectedly poor economic data, etc.

VIX ETF ticker: UVXY (US: NYSE)

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

Oct[4] - The Less The Merrier

Share buyback transactions involves share issuers repurchasing some of their outstanding shares from shareholders through the open market. Once the shares are bought back, they will be converted to treasury shares, thus outstanding shares reduce. Other motivations include companies moving to align stock valuations with balance sheet objectives. The following list show companies bought back shares in consideration ~ $1m last month.
Four of them were shortlisted for discussion here. Some with attractive valuation as of current trading price. Some has potential overturn in business prospect. Thus, the buy back action could be justified.

Oct[3] - Market Updates

Singapore:  
STI saw bearish candles in 4 consecutive weeks since last September. Trend finally reversed with a bullish closing on first week of October. Immediate support ~ 3195. It needs to exceed 3280 to break up from the recent side way channel. On coming weeks, market shall focus on earning performance among listed companies. It could decide direction of STI barring any unforeseen circumstances.

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

Oct[2] - Cash is King

The following counters were shortlisted for their net cash position (insignificant debt). China Aviation Oil, Golden Energy and ISDN have been producing strong improvement in earning year to date. Coming quarters could see Silverlake recovering from declining earning as well. Recent price weakness among them might present hunting opportunity before 3rd quarter result announcement.

Oct[1] - Market Updates

Singapore:  
STI has retreated about 5% from its 2017 peak. It's gaining support ~ 3193, but fails to break up 3250 so far. Trend look stagnant for meantime. Such correction is actually reasonable considering its bullishness in first half year. Investor could take position through STI ETF (listed in SGX) before next rally.

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

Sep[9] - STI Book Value Hunt

The following counters were shortlisted from STI because they are trading below respective book or equity value.