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Daily sgx-report by epic research singapore 24th oct 2013
1. DAILY REPORT
24th OCTOBER
Snapshot for Straits Times Index STI (FSSTI)
Open
3,220.95
Previous Close
3,210.21
Year To Date
+3.96%
1-Year
+8.36%
Day Range
3,198.96 – 3,235.25
52-Week Range
Straits Times Index (STI)
2,931.60 - 3,464.79
TOP GAINERS & LOSERS
TOP GAINERS
TOP GAINER
3.00%
% Change
CapitaMalls Asia Ltd
2.00%
+2.76%
Golden Agri- Resource..
2.50%
+1.85%
Jardine Stategic Ho..
+1.39%
1.50%
Hutchinson Port Holding
+0.65%
1.00%
Oversea-Chenese Bank
+0.39%
0.50%
Genting Singapore PL..
+0.33%
DBS Group Holdings Ltd
+0.12%
ComfortDelGo Corp L..
0.00%
Thai Beverage PCL
0.00%
0.00%
CMA
GGR
JS
HPHT OCBC
GENS
DBS
CD
THBE
V
NOBL
%Change 2.76% 1.85% 1.39% 0.65% 0.39% 0.33% 0.12% 0.00% 0.00% 0.00%
Noble Group Ltd
TOP LOSER
TOP LOSERS
0.00%
Singapore Exchange L..
Singpore Technologi…
-0.40%
-0.60%
-0.80%
-1.00%
-1.20%
-1.40%
-1.60%
-1.80%
% Change
SGX
STE
SCI
HKL
JCNC OLAM
-1.87
-1.66
-1.28
-1.11
-1.07
YOUR MINTVISORY
-0.96
ST
UOB
SMM
GLP
-0.80
-0.43
-0.43
-0.32
-1.87%
-1.66%
Sembcorp Industries…
Hongkong Land Holdin..
Jardine Cycle & Carr..
Olam International L.
Singapore Telecommun..
-0.20%
-2.00%
0.00%
% Change
-1.28%
-1.11%
-1.07%
-0.96%
-0.80%
United Overseas Bank
SembCorp Marine Ltd.
Global Logistic Prop..
-0.43%
-0.43%
-0.32%
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2. DAILY REPORT
24th OCTOBER
MARKET UPDATES
According to DBS, CPI inflation for September came
in lower than expected. The headline number
printed 1.6% YoY against the consensus
expectation of 2.0%. While inflation has surprised
on the downside in the month. Decline in transport
cost is the key driver for the lower inflation and
this is largely policy driven. Apart from the
corrections in the COE premiums due to the
tightening in car loans by the Monetary Authority
of Singapore (MAS), the policy to introduce free
MRT rides has probably helped to lower overall
transport costs in recent months. But such policy
changes will only have transient effects on
inflation, which will not last for more than 12
months due to lapsing of their associated base
effects. As it is, COE premiums are already
approaching pre-tightening levels. The base effect
will lapse from October onwards, which spells
higher transport inflation ahead. With the
underlying cost pressure in the domestic economy
still high, expect a spike in headline inflation when
the base effects from transport related policy
changes lapse next year.
DBS continues to maintain the view that inflation will
cross the 3% mark in the coming months and could
potentially test the 4% level by middle of next year.
Singapore and China agreed on new initiatives to
strengthen cooperation on financial sector
development and regulation. The agreement was
reached at the 10th Joint Council for Bilateral
Cooperation (JCBC). Singapore will be given
consideration as one of the investment
destinations under the new Renminbi Qualified
Domestic Institutional Investor (RQDII) scheme.
This will allow qualified Chinese institutional
investors to use RMB to invest in Singapore’s
capital markets. The measure will help to broaden
the universe of assets available to Chinese
investors as well as the investor base for
Singapore’s capital markets. China and Singapore
will introduce direct currency trading between the
Chinese Yuan and Singapore Dollar. Further details
will be announced separately. New measures are
being studied to allow cross-border flows of RMB
between Singapore and Suzhou Industrial Park (SIP)
as well as Tianjin Eco-City (TEC).
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