Daily SGX Market News by EPIC RESEARCH 19th February 2014
Open |
3,075.47 |
Previous Close |
3,369.28
|
Year To Date |
-2.99% |
1-Year |
-3.90% |
Day Range
|
3,064.21-3,075.61 |
52-Week Range |
2953.01-3464.79 |
Singapore banks have underperformed ASEAN peers ytd 2014, despite the latter’s well documented macro issues. All 3 banks are trading near or below -1SD levels vs. consensus PER history, but guidance from bank mgmt. suggests it will be challenging for 2014 earnings to surprise on the upside, unless or until short-term rates recover to lift NIMs.
Singapore shares ended higher on Tuesday with the Straits Times Index gaining 1.5 points to 3,070.78. Some 2.99 billion shares, valued at S$915.4 million were traded. Gainers numbered 267 while losers numbered 150.
CITIC Private Equity Funds Management Co is considering buying full control of medical devices maker Biosensors International Group Ltd.
Investment company Temasek, together with Chinese e-commerce company Alibaba Group and venture capital firm Qiming Venture Partners, has invested close to US$100 million in TutorGroup, an online education platform based out of Shanghai.
BUY JARDINE CYCLE ABOVE 37.800 TG 38.100, 38.500, 38.900 SL 37.450
Epic Research is a leading global financial services provider. Headquartered in Indore, India, Epic has offices and representatives in U.S.A., Singapore, Australia and Middle East. With its full fledged research operations, Epic Research has proven itself as Investment Advisory Company that produces and delivers high accuracy tips and recommendations for the Singapore market –
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SGX Equities
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SGX Derivatives – Futures and Options
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Global Commodities – Bullion, Energy and Agri
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Global Forex – Major currency pairs
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