Thursday, January 30, 2020

STI  ranging for the past 3 sessions but still clossing above the pitchfork bottom channel support at 3170.68

STRAITS TIMES   3,170.680   -11.89 (-0.37%)
Prev : 3,182.570	High : 3,191.380	Low 3,152.510	Open 3,183.200

Singapore shares resume drop on Thursday on virus fears

30 Jan 2020 18:26

By Navin Sregantan

WITH deaths from the Wuhan Coronavirus rising quickly and total infections nearing 2003's Sars outbreak count, Asian equities resumed their downward path after Wednesday's relief rally on bargain hunting.

Singapore's Straits Times Index (STI) ended Thursday's session with a fall of 11.89 points or 0.4 per cent to 3,170.68.

Elsewhere, Australia, Japan, Hong Kong, Malaysia and South Korea were lower. On its return after a week off, Taiwan's Taiex Index dived 696.97 points or 5.8 per cent to 11,421.74, registering its largest single-day drop since October 2018.

Chinese markets will resume trading on Monday.

Much is still unknown about the virus and as a result, markets are understandably fraught with worry. But Chinese authorities have been hard at work in ramping up efforts to contain the spread.

"While we are cautious that the virus may spread/mutate, we are aware of reports which suggest infected patients are being cured, detection kits and vaccines are being developed," Jefferies Singapore analyst Krishna Guha noted.

It's worth pointing out that while the death toll and total infection figures have risen quicker than during the Sars period, the fatality rate is considerably lower.

Trading volume in Singapore was 2.41 billion securities, double the 2019 daily average. Total turnover was S$1.43 billion, 35 per cent more than last year's intraday mean.

Decliners trumped advancers 303 to 170, with 19 of the benchmark's 30 counters ending in the red.

With market attention focused on the Wuhan virus, healthcare-related stocks have been the hot ticket of late. But many medical penny plays saw their scorching runs fizzle out on Thursday.

Instead, punters rotated into other listings, including property management group OEL, which surged 1.4 Singapore cents or 66.7 per cent to 3.5 cents with 241.9 million shares traded.

?The market seemed to play on recent news of the possibility that OEL?s new investors might enter healthcare. But at present no concrete details have been announced,? a trader told The Business Times.

Among real estate investment trusts (Reits), Starhill Global Reit edged up S$0.01 or 1.4 per cent to S$0.72 after posting a flat Q2 distribution per unit of 1.13 Singapore cents, in line with street expectations.

"While its Singapore retail portfolio is showing signs of a turnaround, we expect tenant sales to see a near-term hit due to the expected sharp slowdown of Chinese visitors," RHB Securities analyst Vijay Natarajan said.

Venture Corp was again a standout among STI counters, climbing S$0.27 or 1.7 per cent to S$16.41. Shares in the electronic services provider have gained 3.2 per cent since key client Philip Morris International (PMI) agreed on Tuesday to collaborate with South Korean tobacco giant KT&G on the latter's smoke-free products outside South Korea.

Citi Research analysts view this development as a positive for PMI as a wider range of products should help it gain further market share.

That said, they noted in a Jan 29 report: "We are not able to read if this means there will be greater commitment to investing in research and development and further product development."

Source: Business Times Breaking News

Source and recommended reads :

https://sginvestors.io/market/sgx-share-price-performance/straits-times-index-constituents
https://sginvestors.io/market/sgx-breakout-price-3-month-high-volume-above-average
https://sginvestors.io/market/sgx-breakout-price-3-month-low-volume-above-averagehttps://www.investingnote.com/posts/1809889

Singapore business news

https://www.businesstimes.com.sg/stocks
https://www.straitstimes.com/business/companies-markets
https://www.theedgesingapore.com/

US Indices & stocks performance

https://www.investing.com/indices/

https://money.cnn.com/data/fear-and-greed/

DISCLAIMER:

Hey,

All information updates, tables and charts are for informational purposes only; they are not intended for trading purposes or advice.

We do not and cannot guarantee the accuracy of the information. 

Please consult your broker or financial representative to verify pricing before executing any trade. 

We are not liable for any actions taken in reliance on information contained herein. 

With best regards, 

Martin 

Wednesday, January 29, 2020

STI started the day brightly up 12 points but faded into losses (day low 3172.66) before rebounding sharply to edge up 1.32 points to close at 3182.57. It could not regain its foothold in the previous support zone level (green)

STRAITS TIMES   3,182.570   +1.32 (0.04%)
Prev : 3,181.250	High : 3,193.840	Low 3,172.660	Open 3,181.190

Singapore shares end flat after virus-induced sell-off on Tuesday

29 Jan 2020 18:25

By Navin Sregantan

INVESTORS may be brooding over the fast-spreading Wuhan coronavirus but after Tuesday's sell-off in the region, many took the opportunity to "buy on dips", seeking counters trading at attractive valuations.

The result of which saw Singapore's Straits Times Index (STI) clinging on to register a slight rebound. It crept up just 1.32 points or 0.04 per cent to close at 3,182.57.

Elsewhere, a number of key Asia-Pacific indices - Australia, Japan, Thailand and South Korea - posted gains on Wednesday.

Upon returning from the holidays, Hong Kong expectedly bucked the trend, undergoing correction that impacted other markets earlier in the week. The Hang Seng Index shed 789.01 points or 2.8 per cent to 27,160.63. Malaysia was little moved.

Oanda Asia-Pacific senior market analyst Jeffrey Halley acknowledged that "markets may enjoy one or two days in the sun" following broad sell-offs but noted market participants should tread carefully.

He remarked: "I would be remiss in my role as the voice of reason if I did not caution investors to be wary of chasing what may be temporary, dead-cat bounces. Until we have much more clarity on the controlling of the Wuhan virus outbreak at the very least."

As it stands, the confirmed cases and death toll from the Wuhan virus are rapidly rising. In fact, official infection count in China has surpassed the figure during the Sars epidemic in 2003.

In Singapore, trading volume was 1.67 billion securities, 41 per cent over the 2019 daily average, with much of the activity down to penny play. Total turnover was S$1.06 billion, in line with last year's intraday mean.

Advancers beat decliners 265 to 184. Ten of the benchmark's 30 counters ended in the red.

Viewed as beneficiaries of the outbreak, traders looking for a quick flip continued to add positions on medical groups and rubber glove makers.

Medtecs International maintained its position as the most traded counter on the Singapore bourse. With 233.1 million shares traded, the medical consumables manufacturer added 2.4 Singapore cents or 14 per cent to end at 19.6 cents. Medtecs shares are now more than five times higher than 2019's closing price of 3.9 cents.

Singapore Medical Group jumped S$0.06 or 20.7 per cent to 35 cents while glove manufacturer UG Healthcare surged 12.5 Singapore cents or 50 per cent to 37.5 cents.

Parkway Life Reit, the sole medical-focused property trust in the local market, edged up S$0.03 or 0.8 per cent to S$3.63.

With all current Wuhan virus patients in Singapore housed in public hospitals, UOB Kay Hian analysts Jonathan Koh and Loke Peihao noted those with the capacity to afford private healthcare are likely to seek treatment at private hospitals, which could see improved profitability for properties in the Reit's portfolio, such as those that house Mount Elizabeth Hospital and Gleneagles Hospital.

Electronic services provider Venture Corp, which advanced S$0.24 or 1.5 per cent to S$16.14, was among the standouts on the STI.

Venture Corp shares rose after tobacco giant Philip Morris International - believed to be one of its key clients - signed an agreement with Korea Tobacco & Ginseng Corporation to collaborate on the latter's smoke-free products outside South Korea.

Source: Business Times Breaking News

Source and recommended reads :

https://sginvestors.io/market/sgx-share-price-performance/straits-times-index-constituents
https://sginvestors.io/market/sgx-breakout-price-3-month-high-volume-above-average
https://sginvestors.io/market/sgx-breakout-price-3-month-low-volume-above-average
https://www.investingnote.com/posts/1798404

Singapore business news

https://www.businesstimes.com.sg/stocks
https://www.straitstimes.com/business/companies-markets
https://www.theedgesingapore.com/

US Indices & stocks performance

https://www.investing.com/indices/

https://money.cnn.com/data/fear-and-greed/

DISCLAIMER:

Hey,

All information updates, tables and charts are for informational purposes only; they are not intended for trading purposes or advice.

We do not and cannot guarantee the accuracy of the information. 

Please consult your broker or financial representative to verify pricing before executing any trade. 

We are not liable for any actions taken in reliance on information contained herein. 

With best regards, 

Martin 

Week of 20th January 2020 - Weekly Institution Fund Flow Updates, Charts and Analysis

SGX Institutional and Retail Fund Flow Weekly Tracker
Week of 20 January 2020
Institutional investors net buy (+S$43.2m) vs. (-S$11.2m) a week ago
Retail investors net sell (-S$8.5m) vs. (-S$25.0m) a week ago

o;l

Disclaimer : 

Hey,

All information updates, tables and charts are for informational purposes only; they are not intended for trading purposes or advice.

We do not and cannot guarantee the accuracy of the information. 

Please consult your broker or financial representative to verify pricing before executing any trade. 

We are not liable for any actions taken in reliance on information contained herein. 

With best regards, 

Martin

Tuesday, January 28, 2020

STI gap down to open at 3172.73, which was  below its 200ma and immediate (green) demand zone.
It then started to plunge lower at rapidly to reach the bottom of the 1st pull back level, 3144.10.   
It rebounded very firmly, 45degree up in the min chart to close at 3181.25. 
Day high was 3190.08, which is the the bottom level of the demand zone.
STI closed a long tailed Spinning Top candlestick above it previous consolidation zone, with a bullish hint.
But, will there be a follow through for the next 4 trading days this week.
Watch

STRAITS TIMES   3,181.250   -58.77 (-1.81%)
Prev : 3,240.020	High : 3,190.080	Low 3,144.100	Open 3,172.730

Singapore shares tumble 1.8% on widening Wuhan virus fears

28 Jan 2020 18:26

By Navin Sregantan

IT WASN'T much of a "welcome back" for the local equity market, which faced a vicious sell-off on its return from the Chinese New Year (CNY) holiday.

Over the weekend, deaths from the Wuhan coronavirus tripled and confirmed cases doubled, presenting a worrying picture for many investors both here and the region. Fears were also exacerbated by the World Health Organization raising the global risk level of the virus to "high" despite it being confident in China's ability to control the spread.

"With coronavirus worries on the rise, the market continues to struggle with the unenviable task of factoring in absolute terms its implied economic devastation," said Stephen Innes, AxiTrader's chief Asia market strategist.

In Singapore, where seven cases of the virus have been confirmed, the Straits Times Index (STI) opened sharply lower. The blue-chip index traded lower by as much as 2.9 per cent before recovering slightly to end at 3,181.25, giving up 58.77 points or 1.8 per cent.

Elsewhere in the region, benchmarks in Australia, Japan, Malaysia and South Korea were markedly lower. China, Hong Kong and Taiwan markets remained closed for the CNY holiday.

In Singapore, trading volume continued to be heavy at 2.49 billion securities, more than double the 2019 daily average, with much of the activity down to penny play. Total turnover was S$2.08 billion, 96 per cent over last year's intraday mean.

Decliners trumped advancers 400 to 98. All 30 of the benchmark's counters ended in the loss column.

With investor focus very much on the spread of the virus, attention here was on accumulation of beneficiaries of the outbreak like medical groups and rubber glove makers.

Medtecs International, a manufacturer and distributor of medical consumables, continued its run as a hotly traded stock on the Singapore Exchange (SGX). It advanced 6.8 Singapore cents or 65.4 per cent to 17.2 cents - an all-time high - with 325.2 million shares changing hands. Top Glove surged S$0.45 or 23.7 per cent to close at S$2.35.

Their gains came at the expense of listings with considerable Chinese exposure.

Sasseur Reit, which temporarily closed its four outlet malls in the Chinese cities of Chongqing, Hefei and Kunming, lost S$0.09 or 10.3 per cent to close at 78.5 cents.

Other property trusts with sizeable exposure to China also took a beating. Mapletree North Asia Commercial Trust units fell S$0.07 or 5.7 per cent to S$1.17. CapitaLand Retail China Trust (CRCT), which has a portfolio of 10 retail malls in China, dropped S$0.10 or 6.1 per cent to S$1.53.

CRCT's parent, real estate giant CapitaLand, which derives more than a third of its earnings from China, was among the biggest laggards on the STI, falling S$0.19 or 4.9 per cent to S$3.70.

Even though fears of contagion have gripped markets, Joel Ng, KGI Securities head of Singapore research, told The Business Times the growth outlook for most companies is still intact and there were some opportunities to pick up counters with attractive valuations. These include AEM Holdings (down S$0.10 or 4.7 per cent to S$2.01), CapitaLand and SGX (down S$0.07 or 0.8 per cent to S$8.74).

Source: Business Times Breaking News

Source and recommended reads :

https://sginvestors.io/market/sgx-share-price-performance/straits-times-index-constituents
https://sginvestors.io/market/sgx-breakout-price-3-month-high-volume-above-average
https://sginvestors.io/market/sgx-breakout-price-3-month-low-volume-above-average
https://www.investingnote.com/posts/1798404

Singapore business news

https://www.businesstimes.com.sg/stocks
https://www.straitstimes.com/business/companies-markets
https://www.theedgesingapore.com/

US Indices & stocks performance

https://www.investing.com/indices/

https://money.cnn.com/data/fear-and-greed/

DISCLAIMER:

Hey,

All information updates, tables and charts are for informational purposes only; they are not intended for trading purposes or advice.

We do not and cannot guarantee the accuracy of the information. 

Please consult your broker or financial representative to verify pricing before executing any trade. 

We are not liable for any actions taken in reliance on information contained herein. 

With best regards, 

Martin