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).