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Daily Trading Idea

Singapore Idea Snippets:

posted Feb 4, 2013, 11:20 PM by Stock Fanatic

Singapore: The Day Ahead



SINGAPORE DAYBOOK: Several foreign firms prepare to leave Singapore

Some foreign companies in Singapore have started to pull out of the country as the government tightens the inflow of foreign workers here. More could follow suit.


MARKET SCOOP

        United Envirotech Ltd (UEL) on Monday reported a net profit of S$8.49 million.
        Wing Tai Q2 profit more than doubles to S$88.7 million.
        Global Logistic Properties (GLP) said on Monday that it would commit an additional 29 billion yen (US$312.3 million) to its joint venture to develop modern logistics properties in Japan.
        Golden Agri-Resources and Stena Bulk A/B have set up a new 50-50 joint venture (JV), Golden Stena Bulk, the palm oil plantation firm said Monday.


OCBC Securities says…

TRIYARDS HOLDINGS LTD | INITIATE WITH BUY |  TP: S$1.07

        Unlike many shipyards, the group has a strategic focus on the construction of self-elevating units (liftboats), having established a significant track record.
        Trading at 6.7x FY13F EPS and 5.7x FY14F EPS.
        Based on 8x FY13/14F earnings, we derive a fair value estimate of S$1.07.


DBS VICKERS Securities says…

HUTCHISON PORT HOLDINGS TRUST  | BUY |  TP: US$0.85

        Delivering as expected
        Results in line; volume growth of 5% in FY12
        FY12 DPU of 6.6UScts meets IPO guidance
        DPU should be sustainable at the 6.0UScts level in FY13
        Maintain BUY at revised TP of US$0.85


UOB KAY HIAN says…

HUTCHISON PORT HOLDINGS TRUST  | BUY |  TP: US$0.96

        2012 DPU meets IPO projection despite revenue and earnings missing expectations.
        There will be a one-off fall in 2013 DPU as some capex has been deferred to 2013.

        Maintain BUY and we raise target price to US$0.96 in our updated 3-stage DCF model.

Singapore Idea Snippets:

posted Feb 3, 2013, 5:52 PM by Stock Fanatic

SINGAPORE DAYBOOK: Global Logistic, Keppel REIT, OSIM Earning


Global Logistic Properties Ltd. (GLP SP) said it will start development of GLP Ayase, a 68,400 square meter multi-tenant logistics facility in Greater Tokyo, with a total development cost of about $110 million, according to a statement to the Singapore stock exchange.


     WHAT TO WATCH:
  * OSIM International (OSIM SP) 4Q net S$22.6m vs S$17.1m
  * GRP Ltd. (GRP SP) says Lee Siew Wah resigns as group finance manager
  * EMS Energy (EMSE SP) names Patsy Mah Peek Sze as CFO
  * Lafe Corp. (LAFE SP) expects to record significantly reduced
    profit for full year
  * Keppel REIT (KREIT SP) appoints Johnnie Tng Chin Hwee as CFO
  * Global Premium Hotels (GPHL SP) reports 4Q rev S$15.2m vs
    S$14.2m
  * Swee Hong (SWHL SP) expects loss for 2Q on decline in
    revenue from operations
  * Ntegrator International (NTEG SP) secures 2 contracts worth
    S$49.7m from regional service provider
  * Fragrance Group (FRAG SP) 4Q net S$34.5m vs S$16.3m
  * Loyz Energy (LOYZ SP) expects to report loss for 1H due to
    operating expenses

Source: Bloomberg

MARKET SCOOP

OCBC Securities says…

OSIM | BUY | $2.19

ENDS FY12 ON A HIGH

- 4Q12 PATMI jumps 32.5% YoY
- 1+1 DPS declared
- Raise margin assumptions and FV


OSK DMG Securities says…

CDL Hospitality Trusts | neutral | tp $ 2.05


Uncertainty in The Market Remains

Strong 1H12 dampened by a weak 2H12
Competition to remain strong, particularly in 1Q13
More initiatives to counter a tight labor market
Maintain Neutral with unchanged TP of S$2.05

PHILLP Securities maintain Neutral on CDL Hospitality Trust | $2.13

CIMB Securities says…

UNITED ENGINEERS | OUTPERFORM | $3.59

 The tussle for WBL begins

Another bidding war could be brewing.UE has made a S$4/share offer for WBL, acting in concert with Lee-family entities (OCBC, Great Eastern and Lee Foundation). This comes after Straits Trading’s (STC) offer in Jan.Limited synergies are mitigated by fairly low offer price.”


Technical’s – Watch This Space

SG – Guocoleisure – Likely further recovery after bullish break

Key resistances conquered. GuocoLeisure could see more upside ahead after initiating a strong bullish break above both its near 2-year downtrend resistance and $0.70 key resistance on heavy volume in the last session.

Indicator turning bullish. The MACD has just initiated a bullish crossover as well; this suggests that the upside momentum is building up.

Next resistance at $0.81. The counter could head higher towards the next key obstacle at $0.81 (key peaks) in the weeks ahead.

Immediate support at $0.70. Meanwhile, we advocate a stop-loss exit at around $0.67, which is slightly below the newly established resistance-turned-support at $0.70.

Source: OIR


QUANTITATIVE ALERTS: ACTIVE STOCKS

1 Feb 2013

Our quantitative filter looks for the top 20-25 active stocks in the SGX universe showing activity in the last trading day which is furthest away, in terms of + standard deviations, from its 60-day average daily volume traded and daily share price return.

We provide 3-day price charts and brief background for a few selected counters in the attached report.


Source: OIR

Singapore Idea Snippets:

posted Jan 31, 2013, 5:56 PM by Stock Fanatic

SINGAPORE DAYBOOK: Global Logistic, Keppel REIT, OSIM Earning



Global Logistic Properties Ltd. (GLP SP) said it will start development of GLP Ayase, a 68,400 square meter multi-tenant logistics facility in Greater Tokyo, with a total development cost of about $110 million, according to a statement to the Singapore stock exchange.


     WHAT TO WATCH:
  * OSIM International (OSIM SP) 4Q net S$22.6m vs S$17.1m
  * GRP Ltd. (GRP SP) says Lee Siew Wah resigns as group finance manager
  * EMS Energy (EMSE SP) names Patsy Mah Peek Sze as CFO
  * Lafe Corp. (LAFE SP) expects to record significantly reduced
    profit for full year
  * Keppel REIT (KREIT SP) appoints Johnnie Tng Chin Hwee as CFO
  * Global Premium Hotels (GPHL SP) reports 4Q rev S$15.2m vs
    S$14.2m
  * Swee Hong (SWHL SP) expects loss for 2Q on decline in
    revenue from operations
  * Ntegrator International (NTEG SP) secures 2 contracts worth
    S$49.7m from regional service provider
  * Fragrance Group (FRAG SP) 4Q net S$34.5m vs S$16.3m
  * Loyz Energy (LOYZ SP) expects to report loss for 1H due to
    operating expenses

Source: Bloomberg

MARKET SCOOP

OCBC Securities says…

OSIM | BUY | $2.19

ENDS FY12 ON A HIGH

- 4Q12 PATMI jumps 32.5% YoY
- 1+1 DPS declared
- Raise margin assumptions and FV


OSK DMG Securities says…

CDL Hospitality Trusts | neutral | tp $ 2.05


Uncertainty in The Market Remains

Strong 1H12 dampened by a weak 2H12
Competition to remain strong, particularly in 1Q13
More initiatives to counter a tight labor market
Maintain Neutral with unchanged TP of S$2.05

PHILLP Securities maintain Neutral on CDL Hospitality Trust | $2.13

CIMB Securities says…

UNITED ENGINEERS | OUTPERFORM | $3.59

 The tussle for WBL begins

Another bidding war could be brewing.UE has made a S$4/share offer for WBL, acting in concert with Lee-family entities (OCBC, Great Eastern and Lee Foundation). This comes after Straits Trading’s (STC) offer in Jan.Limited synergies are mitigated by fairly low offer price.”


Technical’s – Watch This Space

SG – Guocoleisure – Likely further recovery after bullish break

Key resistances conquered. GuocoLeisure could see more upside ahead after initiating a strong bullish break above both its near 2-year downtrend resistance and $0.70 key resistance on heavy volume in the last session.

Indicator turning bullish. The MACD has just initiated a bullish crossover as well; this suggests that the upside momentum is building up.

Next resistance at $0.81. The counter could head higher towards the next key obstacle at $0.81 (key peaks) in the weeks ahead.

Immediate support at $0.70. Meanwhile, we advocate a stop-loss exit at around $0.67, which is slightly below the newly established resistance-turned-support at $0.70.

Singapore Idea Snippets:

posted Jan 31, 2013, 12:13 AM by Stock Fanatic

Oil
: Oil rose to the highest level in more than four months as the Federal Reserve maintained an asset-buying program to boost the economy.

Oil advanced for a third day and the dollar weakened against the euro after the Fed said at the conclusion of a two-day meeting that it will keep purchasing securities at the rate of $85 billion a month. Crude headed for the biggest monthly gain since August as the Labor Department may say on Feb. 1 that
hiring increased in January.



Asia Stocks

United Engineers Ltd. (UEM SP) offered to buy WBL Corp., valuing the company with businesses from technology to property at S$1.1 billion ($890 million) and
topping an earlier bid by Straits Trading Co., according to a statement to the Singapore stock exchange.


     WHAT TO WATCH:
  * Singapore Airlines (SIA SP) advances release of 76 pilots on fixed-termcontracts; to be released by June 30
  * SATS Ltd. (SATS SP) 3Q net S$47m vs S$38.2m
  * Olam International (OLAM SP) newly issued bonds, warrants debut
  * Del Monte Pacific (DELM SP) launches food products in Myanmar
  * Singapore Technologies Engineering (STE SP) wins contract to build 8 naval vessels for Singapore’s Navy; delivery of vessels expected 2016 onwards
  * Libra Group (LGL SP) expected to report net loss for full year due to writing-off and provisioning of gross amounts due from certain customers


     MARKETS:
  * S&P 500 down 0.4% to 1,501.91 at 4 p.m. in New York
  * Stoxx Europe 600 down 0.6% to 288.63
  * MSCI Asia Pacific up 0.6% to 133.32
  * Straits Times Index rose 0.8% to 3,285.90


     ECONOMY:
  * The Ministry of Manpower will issue 4Q preliminary data on unemployment rate at 10 a.m.
  * Singapore will release its monthly data for credit card bad debts, bank loans and advances and money supply
  * The Monetary Authority of Singapore plans to sell S$1.2 billion of 28-day bills and S$2.6 billion of 84-day notes


     EARNINGS:
  * OSIM International (OSIM SP) 4Q


US Stocks


U.S. stocks fell, dragging benchmark Indexes from five-year highs, as the Federal Reserve said it will maintain its program to buy securities after the economy
unexpectedly shrank in the fourth quarter.

Nine out of the 10 groups in the Standard & Poor’s 500 Index retreated as energy and industrial companies fell the most, dropping at least 0.6 percent. An index of homebuilders slipped 1.3 percent as Lennar Corp. declined 2.4 percent. Amazon.com Inc. jumped 4.8 percent after reporting gains in
sales and North American operating margin. Facebook Inc. fell 1.4 percent in late trading after posting a drop in profit.

The S&P 500 fell 0.4 percent to 1,501.96 at 4 p.m. in New York. The Dow Jones Industrial Average lost 44 points, or 0.3 percent, to 13,910.42. Both measures yesterday reached their highest levels since 2007. The Russell 2000 Index slid 1.2 percent, falling from yesterday’s record high. About 6.8 billion shares traded hands on U.S. exchanges today, or 9.5 percent above the three-month average.



Source: Bloomberg

Singapore Idea Snippets:

posted Jan 29, 2013, 10:21 PM by Stock Fanatic

Oil
: Oil in New York rose to a four-month high after home prices in 20 U.S. cities climbed by the most in more than six years, signaling that the country’s economic rebound is accelerating.


Futures advanced 1.2 percent after the S&P/Case-Shiller index of property values increased 5.5 percent in November from the same month in 2011, the biggest year-over-year gain since August 2006. Prices also increased as Egypt’s defense chief warned that political unrest could bring about the “collapse” of the state.



Asia Stocks

Global Logistic Properties Ltd. (GLP SP) said it delivered a 35,000-square-meter distribution enter in Brazil, which will be leased to a leading global automotive company, according to a statement to the Singapore stock exchange.

     WHAT TO WATCH:
  * SMRT Corp. (MRT SP) 3Q net profit down 31.2% to S$25.5m; 3Q group rev. up 5% to S$281.7m; co. says group profit in 4Q and next 12 months to deteriorate on higher operating costs
  * Magnus Energy (MAGE SP) says it expects to report higher profit for six months on positive contribution from operations
  * SembCorp Marine (SMM SP) says unit and Ernst & Young reach full and final settlement; settlement conditions confidential
  * Mermaid Maritime Public (MMT SP) gets subsea services contracts in various regions with potential value of $30m


     MARKETS:
  * S&P 500 up 0.5% to 1,507.6
  * Stoxx Europe 600 rose 0.3% to 290.3
  * MSCI Asia Pacific climbed 0.9% to 132.51
  * Straits Times Index fell 0.4% to 3,259.75


     EARNINGS:
  * SATS Ltd. (SATS SP) 3Q


     EVENTS/CONFERENCES:
  * Monetary Authority of Singapore MD Ravi Menon to make speech
    at an investor conference


Today: South Korea factory output, earnings from Lenovo, NTT DoCoMo, LG Electronics, Sumitomo Mitsui, Canon, Hynix, Nintendo, Siam Cement.

     WHAT TO WATCH:
  * Lenovo posts 3Q results at 4:15pm HKT; note shrs at 52-week high
  * Cnooc reports 2012 output, gives 2013 forecast at 4:15pm HKT
  * ZTE holds press conference at noon HKT; watch for forecast on 2013 handset shipments
  * Softbank ADRs surged on heavy volume after U.S.-based Dish declined to oppose its purchase of Sprint
  * Chunghwa Telecom, the 4th-biggest Taiex constituent, forecast 2013 EPS that’s ~10% below est.
  * Taiwan will double the limit on securities investments from mainland China institutions to $1b; China may relax AUM requirements for Taiwan brokers seeking QFII participation
  * China will boost solar-power target by two-thirds for 2011-15 period, Economic Observer says, citing govt official; watch GCL-Poly, OCI
  * Yahoo Japan raised FY profit & sales forecasts post-mkt, announced buyback
  * Komatsu cut FY forecast for oper. profit as 3Q missed est.,    partly on China excavator sales; watch Korea’s Doosan Infracore
  * Posco, Asia’s No. 3 steelmaker, forecast 2013 sales & posted 4Q net income that both missed est.
  * Baotou Steel Rare-Earth said 2012 net income fell as much as 60%; est. 42% drop


     ECONOMY (Hong Kong time):
  * 5:45am: NZ Dec. Building Permits M/m; est. 6.0% (prior -5.4%)
  * 7am: Korea Dec. Current Account; no est. (prior $6.88b)
  * 7am: Korea Dec. Goods Balance; no est. (prior $6.75b)
  * 7am: Korea Dec. Industrial Production M/m; est. -1.5% (prior 2.3%)
  * 7am: Korea Dec. Industrial Production Y/y; est. 1.2% (prior 2.9%)
  * 7am: Korea Dec. Cyclical Leading Index Change; no est. (prior 0.3)
  * 7:50am: Japan Dec. Retail Trade M/m SA; est. 0.4% (prior -0.1% (r))
  * 7:50am: Japan Dec. Retail Trade Y/y; est. 0.3% (prior 1.2 (r))
  * 7:50am: Japan Dec. Large Retailers’ Sales; est. -1% (prior 0.9%)
  * 8am: Australia Dec. DEWR Internet Skilled Vacancies M/m; no est. (prior -3.5%)
  * 5pm: Hong Kong Dec. Money Supply M3 Y/y; no est. (prior 10.9%)
  * 5pm: Hong Kong Dec. Money Supply M2 Y/y; no est. (prior 11%)
  * 5pm: Hong Kong Dec. Money Supply M1 Y/y; no est. (prior 15.3%)


     CENTRAL BANKS:
  * TBA: Malaysian Central Bank Holds Rate Setting Meeting; Decision to be Announced Jan. 31


     GOVERNMENT:
  * Nothing notable scheduled


     EARNINGS (Hong Kong time):
  * Advanced Semiconductor (2311 TT) FY NT$12.8b (25 analysts)
  * Advantest (6857 JP) 3Q oper. profit 2.7b yen loss (3 analysts) 2pm
  * Calbee (2229 JP) 3Q 12:30pm
  * Canon (7751 JP) FY oper. profit 441.6b yen (22 analysts) 2pm
  * Casio Computer (6952 JP) 3Q oper. profit 5.4b yen (5 analysts) 2pm
  * Chugai Pharma (4519 JP) FY oper. profit 76.6b yen (13 analysts) 3:30pm
  * Hino Motors (7205 JP) 3Q 2pm
  * Hitachi Construction Machinery (6305 JP) 3Q 2pm
  * Hitachi Metals (5486 JP) 3Q oper. profit 9.4b yen (3 analysts) 2pm
  * Hokkaido Electric Power (9509 JP) 3Q 2pm
  * Kyushu Electric Power (9508 JP) 3Q 2pm
  * Lenovo Group (992 HK) 3Q $184.3m (11 analysts)
  * LG Electronics (066570 KS) FY
  * LG Uplus (032640 KS) FY
  * Macronix Intl (2337 TT) FY NT$4.6b loss (3 analysts)
  * Nintendo (7974 JP) 3Q oper. profit 32.6b yen (3 analysts) 3pm
  * Nomura Research (4307 JP) 3Q oper. profit 10.6b yen (3 analysts) 2pm
  * NTT DoCoMo (9437 JP) 3Q 2pm
  * Omron (6645 JP) 3Q oper. profit 11.5b yen (5 analysts) 2pm
  * Oriental Land (4661 JP) 3Q 3pm
  * Power Finance (POWF IN) 3Q net income adj. median parent 10.5b rupees (20 analysts)
  * Sekisui Chemical (4204 JP) 3Q 12pm
  * Shikoku Electric Power (9507 JP) 3Q 2pm
  * Shizuoka Bank (8355 JP) 3Q 3pm
  * Siliconware Precision (2325 TT) FY NT$6.6b (26 analysts)
  * SK Hynix (000660 KS) FY
  * SMFG (8316 JP) 3Q Aft-mkt
  * Stanley Electric (6923 JP) 3Q 2pm
  * Titan Industries (TTAN IN) 3Q net income adj. median parent 2.05b rupees (18 analysts)
  * West Japan Railway (9021 JP) 3Q 2pm


     BOND SALES (Hong Kong time):
  * 11am: Thailand to Sell 14b Baht Bonds Due 2019
  * 11am: China to Sell 26b Yuan 3-Yr Bonds
  * 12pm: Bank Negara to sell 1.5b Ringgit 364-Day Notes
  * 12pm: Bank Negara to Sell 1.5b Ringgit 63-Day Islamic Notes
  * 12pm: Bank Negara to Sell 1.5b Ringgit 126-Day Islamic Notes
  * 12pm: Malaysia to Sell 100m Ringgit 183-Day Bills
  * 3:30pm: Sri Lanka to Sell 91-Day Bills
  * 3:30pm: Sri Lanka to Sell 182-Day Bills
  * 3:30pm: Sri Lanka to Sell 364-Day Bills
  * 5:30pm: India to Sell 50b Rupees 91-Day Bills
  * 5:30pm: India to Sell 50b Rupees 182-Day Bills


     IPO WATCH:
  * China Automobile Parts (CAP MK) 150m shrs at 0.68 Ringgit
  * Cowealth Medical (4745 TT) 6m shrs at NT$63.80
  * Energy Absolute (EA TB) 560m shrs at 5.50 Baht
  * Eslite Spectrum (2926 TT) 4.04m shrs at NT$156
  * i-SENS (099190 KS) 900,000 shrs at 19,000 Won
  * National Veterinary (0660827 VN) to Price 1.95m shrs at 11,000 Dong


     CORPORATE EVENTS/CONFERENCES (Hong Kong time):
  * United Overseas Bank (UOB SP) at SuperInvestor Asia 2013, Singapore
  * Noble Group (NOBL SP), Suncorp Group (SUN AU), SM Investments (SM PM) at Citi 10th Annual Asia Pacific Investor Conference, Singapore
  * Astellas Pharma (4503 JP) at 6th Annual Forum on Oncology Market Access and Payer Strategies, Philadelphia
  * CapitaMall Trust (CT SP) Europe roadshow day 3
  * 8:30am: Fitch global sovereign credit briefing, Hong Kong
  * 9am: Sustainable Urban Infrastructure Conference, Hong Kong
  * 12pm: ZTE (763 HK) press event, Hong Kong
  * 12pm: DCM Data roundtable on banking market trends, Hong Kong
  * 12pm: DBS opens new treasuries center, Hong Kong
  * 1pm: Nouriel Roubini speaks at forum in Manila
  * 1pm: Japan Cooperation Center Petroleum holds symposium, Tokyo
  * 2pm: Bangkok Bank conference on Thai economy
  * 2:15pm: PricewaterhouseCoopers M&A 2012 review, 2013 outlook, Hong Kong
  * 2:30pm: Credit Suisse press briefing on China, India & Indonesia consumer findings, Hong Kong
  * 3pm: Qatar Friendship fund roundtable, Tokyo
  * 5:20pm: Cnooc (883 HK) press briefing after strategy session, Hong Kong
  * 7pm: APLMA-Bloomberg league tables awards night, Hong Kong
 
 * Analyst/Investor events:
    * SK Hynix (000660 KS),Power Finance (POWF IN), Macronix International (2337 TT), Hino Motors (7205 JP), Sekisui Chemical (4204 JP), Advanced Semiconductor Engineering (2311 TT), ScinoPharm Taiwan (1789 TT) LG Uplus (032640 KS), Hitachi Construction Machinery (6305 JP), Casio Computer (6952 JP), NTT DoCoMo (9437 JP), Chugai Pharmaceutical (4519 JP), Chunghwa Telecom (2412 TT), Idea Cellular (IDEA IN), Lenovo Group (992 HK), Titan    Industries (TTAN IN), Siliconware Precision Industries (2325 TT), Canon (7751 JP), Omron (6645 JP)

  * AGMs/EGMs/Board meetings:
    * Angang Steel (347 HK)
    * JSW Steel (JSTL IN)
    * Lenovo Group (992 HK)


     STOCKS TO WATCH
  * Greater China Highlights
    * Chalco (2600 HK): Said it will post “substantial” net loss for 2012 on lower prices; note it forecast a loss in Oct.
    * Hidili Industry (1393 HK): Sued in H.K. over bond conversion

  * India Highlights
    * Idea Cellular (IDEA IN): 3Q net profit missed est.
    * Oil & Natural Gas (ONGC IN): Board to consider second interim dividend

  * Japan Highlights
    * Fujifilm (4901 JP): Cuts oper. profit outlook 12% to 110b yen vs est. 114.8b yen (17 analysts)
    * Komatsu (6301 JP): Cuts FY oper. profit forecast 12% to 230b yen vs est. 246.6b yen (23 analysts)
    * Nippon Steel (5401 JP): Said to join ArcelorMittal in $1.5b bid for ThyssenKrupp U.S. plant
    * Softbank (9984 JP): Dish declines to challenge its Sprint acquisition; DoJ asks FCC to defer action on purchase
    * Yahoo Japan (4689 JP): Raises FY forecasts after 9M net gains

  * South East Asia Highlights
    * SMRT (MRT SP): 3Q net -31% Y/y to S$25.5m; group profit for 4Q, next 12 mos. to deteriorate on higher operating costs


     MARKETS:
  * S&P 500 up 0.5% to 1,507.85
  * Stoxx Europe 600 up 0.3% to 290.30
  * U.S. 10-year yield up 3.4 bps to 1.996%
  * Brent futures up 0.6% to $114.18/bbl
  * April gold futures up 0.5% to $1,663.50/oz


US Stocks


U.S. stocks advanced, sending the Dow Jones Industrial Average to a five-year high, as companies including Pfizer Inc. and Valero Energy Corp. reported earnings that beat estimates.

Pfizer rose 3.2 as the drugmaker also forecast higher-than-expected full-year profit. J.C. Penney Co. jumped 9.3 percent amid new store promotions. Energy shares climbed as Valero reported a 20-fold gain in profit and Paul Singer’s Elliott Management Corp. urged Hess Corp. to consider a spinoff of its U.S. shale assets. EMC Corp. and Seagate Technology Plc led technology shares lower amid disappointing outlooks. Amazon.com Inc. rose 9.4 percent in late trading after posting its results.

The Standard & Poor’s 500 Index rose 0.5 percent to 1,507.84 at 4 p.m. in New York. The Dow added 72.49 points, or 0.5 percent, to 13,954.42, the highest level since October 2007. About 6.9 billion shares traded hands on U.S. exchanges today, or 12 percent above the three-month average.



Source: Bloomberg

Singapore Idea Snippets:

posted Jan 27, 2013, 6:32 PM by Stock Fanatic

Asia Stocks


Singapore Telecommunications Ltd., Southeast Asia’s biggest phone company, is among bidders for telecommunication licenses to be issued by Myanmar as the nation tries to boost one of Asia’s lowest phone penetration rates following decades of military rule.

     WHAT TO WATCH:
  * Fraser & Neave (FNN SP) Chairman Lee Hsien Yang and three other directors plan to sell their shares to TCC Assets Ltd. after adviser JPMorgan called its revised bid “fair.”
  * Singapore Post (SPOST SP) 3Q net S$39.5m vs S$41.6m; Co. reports 3Q rev S$171m vs S$149.4m; co. says revenue growth driven by e-commerce, new investments
  * Marco Polo Marine (MPM SP) reports continuing growth momentum; 1Q net profit rose to S$4.5m; 1Q rev S$15.2m vs S$24.6m
  * Parkway Life REIT (PREIT SP) FY gross rev up 7.2% to S$94.1m; wraps up year with sustained growth
  * Asia Fashion Holdings (AFH SP) expects group to report significant loss for FY
  * Azeus Systems Holdings (AZEUS SP) has entered into a service contract with Hong Kong government
  * Kinergy Ltd. (KNRGY SP) reports offer closing date extended to Feb. 8


     MARKETS:
  * S&P 500 up 0.5% to 1,502.96
  * Stoxx Europe 600 up 0.3% to 289.72
  * MSCI Asia Pacific up 0.2% to 131.74
  * Straits Times Index rises 0.6% to 3,269.31


     ECONOMY:
  * Singapore plans to auction S$2 billion ($1.6 billion) of 91-day bills
  * Singapore’s EDB holds annual briefing, 2013 outlook


Today: Australia, Malaysia closed for holidays. Earnings from KDDI, Hitachi Chemical, JSW Steel.

     WHAT TO WATCH:
  * Japan’s Abe gives speech to parliament on economic strategy; a “key adviser” tells WSJ that further weakening of yen to 95 vs USD may be desirable
  * Japan is expected today to raise GDP growth forecast for coming FY to 2.5%, Tokyo media report
  * Chinese industrial profits rose for 4th month in Dec.; separately, PBOC dep. governor calls banks’ 2013 outlook for profit growth “grim”
  * China Cosco warns of “substantial” 2012 loss; Shanghai reaction may be limited by exchange; watch H.K. listing
  * Japan’s nuclear regulator reports findings on faults under a reactor that led to drop in utilities shrs last month
  * Fanuc cut forecast for FY oper. profit just before mkt close on Fri.; view is below consensus est.
  * RBI releases economic report ahead of tomorrow’s expected rate cut
  * Takeda won U.S. approval for its new diabetes drug after two rejections in past 5 yrs
  * Diageo is poised to announce delay in takeover of United Spirits, reports Sunday Telegraph, without citing anyone; note negative implication for Kingfisher


     ECONOMY (Hong Kong time):
  * 5am: South Korea Jan. Consumer Confidence at 102 (prior 99)
  * 5:30am: New Zealand Dec. Performance Services Index at 51.5; no est. (prior 54.1)
  * 7:50am: Japan Dec. Corporate Services Price Index  Y/y; est. -0.5% (prior -0.4%)
  * 4pm: Taiwan Dec. Coincident Index M/m; no est. (prior 0.4%)
  * 4pm: Taiwan Dec. Leading Index M/m; no est. (prior 0.8%)
  * TBA: Macau Dec. Unemployment Rate; no est. (prior 1.9%)
  * TBA: Thailand Dec. Manufacturing Production Index ISIC Y/y; est. 32.30 (prior 83.3)
  * TBA: Thailand Dec. Manufacturing Production Index ISIC SA; no est. (prior 192.53)
  * TBA: Thailand Dec. Total Capacity Utilization ISIC; no est. (prior 68.6)


     CENTRAL BANKS (Hong Kong time):
  * 7:30pm: RBI releases 3Q review


     GOVERNMENT (Hong Kong time):
  * Japan’s parliament opens midday for first session under Abe’s leadership
  * Myanmar’s Aung San Suu Kyi visits South Korea
  * 10am: Singapore Economic Development Board annual briefing
  * 10am: IMF conference, Bangkok
  * 11am: Japan’s former Ambassador to China Uichiro Niwa press briefing, Tokyo


     EARNINGS (Hong Kong time, with est.):
  * Adani Ports (ADSEZ IN) 3Q net income adj. median parent 3.65b rupees (12 analysts)
  * Bank of India (BOI IN) 3Q net income adj. median parent 7.86b rupees (36 analysts)
  * Daelim Industrial (000210 KS) FY  
  * Hitachi Chemical (4217 JP) 3Q oper. profit 6.9b yen (6 analysts) 2pm
  * JSW Steel (JSTL IN) 3Q net income adj. median group 2.51b rupees (16 analysts)
  * JSR (4185 JP) 3Q oper. profit 9.1b yen (8 analysts) 12pm
  * KDDI (9433 JP) 1H 2pm
  * Reliance Infrastructure (RELI IN) 3Q net income adj. median parent 3.37b rupees (7 analysts)
  * Samsung C&T (000830 KS)
  * Samsung Engineer (028050 KS) FY


     BOND SALES (Hong Kong time):
  * 10:30am: Korea to 600b Won 20-Yr Bonds
  * 12pm: Singapore to Sell S$2b 91-Day Bills
  * 12pm: India to sell 60b-70b Rupees 10-14-yr bonds
  * 12pm: India to sell 20b-30b Rupees 15-19-yr bonds
  * 12pm: India to sell 30b-40b Rupees 5-9-yr bonds


     IPO WATCH:
  * Comforia Residential REIT to price 46,500 shrs at 540,000-550,000 yen
  * Industrial & Infrastructure Fund (3249 JP) may price IPO


     CORPORATE EVENTS/CONFERENCES (Hong Kong time):
  * 10:30am: CME Group on RMB risk-management products, Hong Kong
  * 11am: Toyota, Nissan, and Honda 2012 global production figures
  * 11am: Lombard Odier holds media briefing on Asia market and investment outlook, Hong Kong
  * 1pm: Japan Iron and Steel Federation monthly presser, Tokyo
  * 2:30pm: LGT roundtable on Asia private banking, Hong Kong
  * 3pm: JPMorgan Asset Management announces findings of latest investor confidence index
  * 3:30pm: Sands China press briefing, Macau
  * Analyst/investor meetings/calls: KDDI (9433 JP), JSW Steel (JSTL IN), JSR (4185 JP)


     STOCKS TO WATCH
  * Greater China Highlights
    * Dongfeng Motor (489 HK): Volvo agrees to pay $890m for minority stake in Chinese co.’s commercial vehicle unit
    * Zhejiang Geely (175 HK): May buy remaining 80% of Manganese Bronze for 2.7m pounds, SCMP reports
    * Sands China (1928 HK): Press conference in Macau, 3:30pm

  * India Highlights
    * Suzlon Energy (SUEL IN): Wind turbine installations will probably stall in 2013, chairman says
    * GTL Infrastructure (GTLI IN): Said to be in discussions with lenders to move some debt to affiliate
    * Steel Authority (SAIL IN): Govt to consider sale of stake after earnings report next month, Press Trust of India reports
    * Sun Pharmaceutical (SUNP IN): AbbVie sues, claiming infringement Zemplar patent
    * United Spirits (UNSP IN): Diageo to delay deal for majority stake to discuss with regulator, Sunday Telegraph reports

  * Japan Highlights
    * Advantest (6857 JP): To miss FY oper. profit forecast, Nikkei reports
    * Aeon (8267 JP): Is said to weigh bid for Indonesian retailer Matahari, Reuters says; Aeon denies report
    * Fanuc (6954 JP): Cuts FY oper. profit forecast 13% to 178b yen
    * Takeda (4502 JP): FDA approves diabetes drug to succeed Actos

  * South East Asia Highlights
    * Fraser & Neave (FNN SP): Chairman, 3 directors agree to sell shares to TCC Assets
    * Singapore Telecom (ST SP): Among bidders for Myanmar telecom licenses


     MARKETS:
  * S&P 500 up 0.5% to 1,502.96
  * Stoxx Europe 600 up 0.3% to 289.72
  * U.S. 10-year yield 1.949%
  * Brent futures  unchanged at $113.28/bbl
  * April gold futures down 0.8% to $1,685.80/oz


US Stocks


U.S. stocks rose at the start of trading, as measured by the Standard & Poor's 500 Index, at 9:31 a.m. New York time.

The S&P 500 rose 0.2 percent to 1,498.24. There were 325 stocks that rose and 101 that fell. Procter & Gamble Co., up 2.2 percent to 71.95, led the gain. The Dow Jones Industrial Average rose 0.2 percent to 13,846.75. For the year, the S&P 500 has gained 5.1 percent and the Dow has added 5.7 percent.
     
Molycorp Inc was the most-active U.S. stock. Trading totaled 9.9 million shares. Other actively traded shares included Bank of America Corp., Microsoft Corp., Procter & Gamble Co., and Research In Motion Ltd..

Procter & Gamble Co. contributed the most to the S&P 500's gain, lifting its value by 0.47 point, followed by AT&T Inc. at 0.22 point and Starbucks Corp. at 0.21 point. Microsoft Corp. limited the index's gain the most, reducing its value by 0.14 point, followed by Philip Morris International Inc. at 0.08 point and Caterpillar Inc. at 0.04 point.



Source: Bloomberg

Singapore Idea Snippets:

posted Jan 22, 2013, 6:49 PM by Stock Fanatic

Oil: Oil increased to a four-month high as German investor confidence climbed more than economists expected and a Bloomberg survey showed that international optimism about equities gained.

Futures rose 0.7 percent after Germany’s ZEW Center for European Economic Research said its index of investor and analyst forecasts climbed to 31.5 from 6.9 last month. Global investors are the most bullish on stocks in at least 3 1/2 years, with almost two-thirds planning to boost holdings during the next six months, a Bloomberg survey showed.



Asia Stocks

Singapore’s consumer price index in December probably rose 3.8 percent from a year earlier, from a gain of 3.6 percent in the previous month, according to the
median of 17 estimates compiled by Bloomberg.

     WHAT TO WATCH:
  * Singapore Exchange (SGX SP) 2Q net S$76m; analyst est. S$74.8m (6 ests.); 2Q rev. S$162m; analyst est. S$163.5m (6 ests.)
  * Tee International (TEE SP) reports purchase of piece of industrial land in Thailand
  * Keppel Telecommunications & Transportation (KPTT SP) FY net S$55.5m vs S$79.4m
  * Suntec REIT (SUN SP) 4Q net property income S$30.6m vs S$52m
  * China Animal Healthcare (CAL SP) reports 3rd party financing arrangements on-going relating to possible delisting
  * Fraser & Neave (FNN SP) reports TCC Assets revised offer of S$9.55/shr is final
  * Civmec (CVL SP) reports S$50m in new oil & gas contracts; work to start in Feb. 2013


     MARKETS:
  * S&P 500 up 0.3% to 1,490.42 at 3:24 p.m. New York time
  * Stoxx Europe 600 little changed at 287.66
  * MSCI Asia Pacific up 0.5% to 132.95
  * Straits Times Index fell 0.1% to 3,219.86


     ECONOMY:
* Singapore to release auction for car-ownership licenses known as certificate of entitlement or COE at 4 p.m.


     EARNINGS:
* Keppel Land Ltd. (KPLD SP) 4Q; CapitaCommercial Trust (CCT SP)


Today: Australia 4Q CPI, Singapore Dec. CPI, Olam rights issue result, Bank of Japan economic report.

     WHAT TO WATCH:
  * BHP Billiton 2Q iron ore output meets estimates, co. keeping FY13 W.A. iron ore, Escondida targets
  * Olam to release results of rights issue after 5pm
  * Google, IBM 4Q profits beat estimates
  * Microsoft is said to be joining Silver Lake’s offer for Dell
  * Apple-Samsung patent case: U.S. trade commission to say whether it will review or let stand Oct. 24 ruling that Samsung infringed 4 Apple patents
  * Polysilicon prices rose most in 10 mos. as production fell and solar panel demand continued to gain
  * Glencore-Xstrata merger conditional on Chinese regulatory approval now that S. Africa has approved deal
  * UN Security Council unanimously votes for tighter sanctions on North Korea


ECONOMY (Hong Kong time):
  * 5pm: Korea Dec. Discount Store Sales Y/y; no est. (prior -1.7%)
  * 5am: Korea Dec. Department Store Sales Y/y; no est. (prior 9.1%)
  * 6am: New Zealand Bloomberg Jan. New Zealand Economic Survey
  * 7am: Australia Bloomberg Jan. Australia Economic Survey
  * 7:30am: Australia Nov. Westpac Leading Index M/m; no est. (prior 0.1%)
  * 8:30am: Australia 4Q Consumer Prices Q/q; est. 0.4% (prior 1.4%)
  * 8:30am: Australia 4Q Consumer Prices Y/y; est. 2.4% (prior 2%)
  * 8:30am: Australia 4Q CPI - Trimmed Mean Q/q; est. 0.7% (prior 0.7%)
  * 8:30am: Australia 4Q CPI - Trimmed Mean Y/y; est. 2.4% (prior 2.4%)
  * 8:30am: Australia 4Q CPI - Weighted Median Q/q; est. 0.6% (prior 0.8%)
  * 8:30am: Australia 4Q CPI - Weighted Median Y/y; est. 2.4% (prior 2.6%)
  * 10am: China Conference Board Dec. Leading Economic Index
  * 1pm: Singapore Dec. CPI M/m; est. 0.5% (prior 0.1%)
  * 1pm: Singapore Dec. CPI Y/y; est. 3.8% (prior 3.6%)
  * 4pm: Thailand Dec. Exports Y/y; est. 21.45% (prior 26.86%)
  * 4pm: Thailand Dec. Imports Y/Y; est. 7.6% (prior 24.53%)
  * 4pm: Thailand Dec. Trade Balance; est. -$1.56b (prior - $1.454m)
  * 4pm: Taiwan Dec. Industrial Production Y/y; est. 6.8% (prior 5.85%)
  * 4pm: Taiwan Dec. Commercial Sales Y/y; est. 1.43% (prior 1.26%)
  * 5pm: Malaysia Dec. CPI Y/y; est. 1.4% (prior 1.3%)
  * TBA: Macau Dec. Visitor Arrivals; no est. (prior 2.37m)


     CENTRAL BANKS:
  * 1pm: BOJ Jan. Economic Report
  * 3:30pm: Philippine central bank Governor Amando Tetangco speaks in Manila
  * 6:30pm: HKMA Deputy CEO Arthur Yuen speaks in Hong Kong


 GOVERNMENT:
  * 8am: Indian Finance Minister Palaniappan Chidambaram speaks in Singapore
  * 10am: China’s Industry Ministry to hold briefing on 2012 performance, 2013 outlook
  * 10am: Thai Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong speaks at a conference in Bangkok
  * 3:45pm: APEC Business Advisory Council press briefing in Manila
  * 4:30pm: Indonesia Trade Minister Gita Wirjawan speaks in Singapore
  * 1:20pm: Hong Kong CEO Leung speaks at H.K. General Chamber of Commerce
  * TBA: Japan Cabinet Office Jan. Economic Report


     EARNINGS (ests. net income):
  * CapitaCommercial (CCT SP) FY S$213.5m (19 analysts)
  * Havells India (HAVL IN) 3Q net est. 911m rupees (17 analysts)
  * Inotera Memories (3474 TT) 4Q net loss NT$3.4b (10 analysts)
  * JSW Energy (JSW IN) 3Q 2b rupees (12 analysts)
  * Keppel Land (KPLD SP) FY S$402.5m (21 analysts)
  * Nanya Technology (2408 TT) 4Q net loss NT$5.9b (7 analysts)
  * Reliance Comms (RCOM IN) 3Q 1.6b rupees (20 analysts)
  * Sun TV Network (SUNTV IN) 3Q 1.7b rupees (8 analysts)
  * Syndicate Bank (SNDB IN) 3Q 3.9b rupees (5 analysts)
  * Yaskawa Electric (6506 JP) 3Q
  * Zee Entertainment (Z IN) 3Q 1.72b rupees (14 analysts)


     BOND SALES:
  * 11am: China To Sell 30b Yuan 7-Yr Bonds
  * 11:35am: Japan to Sell 2-Mo. Bills
  * 12:30pm: Taiwan to Sell NT$40b 20-Yr Bonds
  * 5:30pm: India to Sell 50b Rupees 91-Day Bills
  * 5:30pm: India to Sell 50b Rupees 364-Day Bills
  * TBA: Pakistan to Sell 250b Rupees 3-,6- and 12-Mo. T-Bills


     IPO WATCH:
  * Cowealth Medical to Price 6m shrs at NT$60-NT$66
  * Eslite Spectrum to Price 4.04m shrs at NT$155-NT$160
  * Quali-Smart 60m shrs at HK$1.50


     CORPORATE EVENTS/CONFERENCES (Hong Kong time):
  * Indonesia Gas conference, Jakarta
  * TBA: Medrx (4586 JP) to set IPO price range for Tokyo listing
  * TBA: Fujimori Kogyo (7917 JP) may price share sale
  * TBA: Japan Excellent (8987 JP) may price share sale
  * 9:30am: Societe Generale briefing on 2013 recommendations for rates, credit, FX, equities with Head of Research Asia Guy Stear, Chief Asia Pacific Economist Klaus Baader, Asia Rates Strategist Wee-Khoon Chong
  * 10am: Nippon Steel & Sumitomo Metal hold ceremony to mark ValeMax iron ore carrier’s first entry into Kimitsu port in Chiba
  * 10:30am: Citigroup consumer banking business briefing by Citi Global Head of Retail Banking Jonathan Larsen and Citibank Singapore CEO Han Kwee Juan
  * 10:30am: CapitaCommercial Trust (CCT SP) earnings call
  * 11:30am: CB Richard Ellis briefing on Philippine Property Outlook for 2013 in Manila
  * 1pm: Nomura Securities seminar about outlook for Japan REITs
  * 2pm: Infosys (INFO IN) presentation at World Economic Forum in Davos
  * 4pm: Fidelity International Chief Investment Officer Equities Dominic Rossi briefs reporters in Tokyo about 2013 outlook
  * 4:30pm: Time Watch Investments H.K. IPO press conference  
  * 5pm: Keppel Land 4Q earnings press conference
  * 5:30pm: Takeda Pharmaceutical (4502 JP) presentation at World Economic Forum in Davos
  * 5:45pm: Mahindra & Mahindra (MM IN) presentation at World Economic Forum
  * 6:30pm: Zee Entertainment (Z IN) earnings call
  * 10:45pm: China Merchants Bank (600036 CH) presentation at World Economic Forum


  * EGMs, Board meetings:
    * 9am: Dongfeng Motor (489 HK)


     STOCKS TO WATCH
  * Greater China Highlights
    * Macau gaming revenue growth slowed last week, Sterne Agee: Sands China (1928 HK), Melco Intl (200 HK), Galaxy (27 HK)
    * Chalco (2600 HK) urges Erdenes Tavan Tolgoi to honor $250m supply agreement after Mongolian coal miner halts deliveries
    * Glencore (805 HK)-Xstrata merger conditional on Chinese regulatory approval now that S. Africa has approved deal

  * India Highlights
    * Kingfisher Airlines (KAIR IN): Needs 10b rupees, endorsement from stakeholders for restart, minister says
   
* Japan Highlights
    * TDK (6762 JP): 3Q oper profit ~5b yen on weak smartphone parts demand, Nikkei reports; analyst est. 8.4b yen
 
 * South East Asia Highlights
    * Metro Pacific (MPI PM): Shareholder said seeking to raise ~$100m from shr sale
    * CapitaCommercial Trust (CCT SP), Keppel Land (KPLD SP) report 4Q earnings


     MARKETS
  * S&P 500 up 0.4% to 1,492.51
  * Stoxx Europe 600 little changed at 287.66
  * U.S. 10-year yield down 0.9 bps to 1.833%
  * Brent futures up 0.6% to $112.43/bbl
  * Feb. gold futures up 0.3% to $1,691.20/oz


US Stocks


U.S. stocks rose, following five-year highs for the benchmark indexes last week, after better-than-forecast earnings from companies including Travelers Cos.
and Freeport-McMoRan Copper & Gold Inc.

Travelers rose 2.2 percent after fourth-quarter profit beat estimates. Freeport-McMoRan rallied 4.6 percent as copper sales rose more than anticipated and costs fell. DuPont Co. advanced 1.8 percent after fourth-quarter profit beat estimates as demand climbed for plastics used in autos. Google Inc. jumped 4.8 percent after the close of regular trading as it posted higher fourth-quarter earnings.

The Standard & Poor’s 500 Index rose 0.4 percent to 1,492.51 at 4 p.m. in New York. The Dow Jones Industrial Average advanced 62.51 points, or 0.5 percent, to 13,712.21. About 6.2 billion shares changed hands on U.S. exchanges, or about in line with the three-month average.



Source: Bloomberg

NEWS HEADLINES

posted Jan 21, 2013, 6:31 PM by Stock Fanatic   [ updated Jan 21, 2013, 6:40 PM ]

- US stock markets were shut on Mon for the Martin Luther King Jr. holiday, ahead of a busy week of earnings releases. Heavyweights Google, IBM and Texas Instruments are scheduled to release quarterly results later today, while Apple and Microsoft are expected to release their results on Wed and Thu, respectively.


- Singapore's industrial production likely contracted 4.2% YoY in Dec, according to the median estimate of economists polled by Reuters, suggesting that 4Q and full-year 2012 GDP could be revised downwards.

- Keppel REIT’s 4Q12 distributable income rose 45% YoY to S$51.9m, 13% above its forecast, as net property income grew 85% to S$32.8m. The REIT quashed talk that it was currently looking into acquiring a stake in Marina Bay Financial Centre Tower 3

Singapore Idea Snippets:

posted Jan 21, 2013, 6:15 PM by Stock Fanatic

Singapore News


A group led by Overseas Union Enterprise Ltd. said it won’t increase a S$13.1 billion ($10.7 billion) bid for Fraser & Neave Ltd., dashing speculation it might offer a higher price for the drinks and property company. Thai billionaire Charoen Sirivadhanabhakdi made a S$9.55 a share offer for F&N on Jan. 18, topping the OUE-led group’s Nov.
15 offer of S$9.08 per share.


WHAT TO WATCH:
  * M1 Ltd. (M1 SP) 4Q net profit S$37.9m vs S$37.6m
  * Global Logistic Properties (GLP SP) to invest $82 million in rooftop solar panels in Japan; to install solar panels on the rooftops of 22 properties
  * RH Petrogas (RHP SP) extends gas and condensate discovery in Kepala
  * Cache Logistics Trust (CACHE SP) achieves 12.8% growth in distributable income in 4Q
  * Hong Leong Asia (HLA SP) expects to report loss for financial year
  * KSH Holdings (KSHH SP) secures LOA for main contract works of Q Bay Residences worth about S$142.3m
  * Kian Ho Bearings (KH SP) expects significant drop in profit for financial year



MARKETS:
  * S&P 500 up 0.3% to 1,485.98 on Jan. 18
  * Stoxx Europe 600 up to 287.78
  * MSCI Asia Pacific down 0.4% to 132.25
  * Straits Times Index rose 0.3% to 3,221.32


EARNINGS:
  * Singapore Exchange (SGX SP) 2Q net analyst est. S$74.78m (6 ests.); sales analyst est. S$163.5m (6 ests.)

(Bloomberg)

Malaysian News

Tenaga Nasional Bhd. (TNB MK) received a letter of award for the operation and maintenance of the Shuaiba North Co-Generation (Power and Distillation) plant in Kuwait for seven years, according to a stock exchange filing. The contract, valued at about 1 billion ringgit, is a joint venture with Kharafi National of Kuwait and is expected to be signed soon, the statement showed.


EQUITY MOVERS:
  * Axis Real Estate Investment Trust (AXRB MK): 4Q profit gains to 43.4m ringgit vs 32m ringgit yr ago
  * Icapital.biz (ICAP MK): 2Q net income drops to 1.9m ringgit vs 3.6m ringgit yr earlier
  * Pasdec Holdings (PSD MK): Co. says unit’s joint venture gets conditional letter of award to develop UMS Link International Precinct project
  * Scomi Engineering (SEB MK): Kanesan Veluppillai appointed CEO as Shah Hakim Zain steps down
  * Tenaga Nasional (TNB MK): Co. signs deals with Samsung Engineering & Construction Malaysia and Siemens AG for 2.47 billion ringgit combined cycle-gas turbine power plant scheduled for completion by end-2015
  * TMC Life Sciences (TMCL MK): Co. posts 2Q net income of 4.54m ringgit vs net loss of 3.04m ringgit yr earlier


WHAT TO WATCH:
  * CapitaMalls Malaysia Trust (CMMT MK): Co. to announce 4Q and full-yr earnings
  * AIG Malaysia and My EG Services (MYEG MK) to hold press conference to formalize partnership


MARKETS:
  * Malaysia’s FTSE Bursa Malaysia KLCI Index fell 2.4%
  * The MSCI Asia Pacific Index lost 0.4%
  * The Dow Jones Industrial Average was closed for public holiday

(Bloomberg)

Asian News

Today: Bank of Japan policy decision, Taiwan unemployment.


WHAT TO WATCH:
  * The Bank of Japan holds a policy meeting, with analysts expecting increased asset purchases and an inflation target
  * Thailand’s richest man moves closer to buying Fraser & Neave after outbidding OUE and Kirin with an $11.2b offer
  * European stocks rose as EU finance ministers gathered to debate terms of channeling aid to banks
  * Dell is said to hire Evercore to test possibility of getting a better offer than an anticipated Silver Lake proposal
  * Japan continues an investigation at offices of GS Yuasa, supplier of batteries for Boeing’s 787 Dreamliners
  * Santander denies Sunday Times report it’s in talks to buy Clydesdale and Yorkshire Bank from National Australia Bank


ECONOMY (Hong Kong time):
  * 8:30am: Taiwan Dec. Unemployment; est. 4.25% (prior 4.27%)
  * 12:30pm: Japan Nov. All Industry Activity Index M/m; est. -0.5% (prior 0.2%)
  * 1pm: Japan Nov. Final Leading Index CI; no est. (prior 91.9)
  * 1pm: Japan Nov. Final Coincident Index CI; no est. (prior 90.1)
  * 1pm: Japan Dec. Supermarket Sales Y/y; no est. (prior -2.6%)
  * 5pm: Malaysia Foreign Reserves as of Jan. 15; no est. (prior $139.7b)


CENTRAL BANKS (Hong Kong time):
  * TBA: BOJ Target Rate; no est. (prior 0.1%)
  * 6:30am: Bank of Korea Governor Kim Choong-Soo meets economists, Seoul
  * 11am: Bank of Thailand’s Governor Prasarn Trairatvorakul gives 2013 policy
  * 2:30pm: Bank of Japan’s Governor Masaaki Shirakawa press briefing


GOVERNMENT:
  * Japan Coalition Party Leader Natsuo Yamaguchi Visits China Jan. 22-25


EARNINGS (Hong Kong time):
  * Hindustan Unilever (HUVR IN) 3Q net income adj. parent median 8.88b rupees (29 analysts)
  * Kotak Mahindra (KMB IN) 3Q net income adj. parent median 3.13b rupees (8 analysts)
  * LG Household & Health Care (051900 KS) FY N.A.
  * Singapore Exchange (SGX SP) 2Q S$64.0m (6 analysts) Aft-mkt
  * CapitaMalls Malaysia Trust (CMMT MK) 4Q


BOND SALES:
  * 11am: Bank of Thailand to Sell 28b 91-Day Bills
  * 11am: Bank of Thailand to Sell 25b 182-Day Bills
  * 11:30am: Hong Kong to Sell HK$32.097b 91-Day Bills
  * 11:30am: Hong Kong to Sell HK$11b 182-Day Bills
  * 1:30pm: Philippines Plans to Sell 25b Pesos 7-Year Bonds Due 2020
  * 5:30pm: Sri Lanka to Sell 91-Day Bills
  * 5:30pm: Sri Lanka to Sell 182-Day Bills
  * 5:30pm: Sri Lanka to Sell 364-Day Bills
  * TBA: Bangladesh Plans to Sell 1b Taka 20-Yr Bonds


IPO WATCH:
  * Wooree E&L to price 9m shrs at 4,900-5,700 Won


STOCKS TO WATCH
  * Greater China Highlights
    * Geely (175 HK): May acquire U.K. cabmaker Manganese Bronze by month’s end, Sunday Times reports
    * Guangzhou Shipyard (600685 CH): Expects 2012 net income to fall by 80%-99%
  * India Highlights
    * Cairn India (CAIR IN): 3Q profit rises to 33.5b rupees, exceeds estimates
  * Japan Highlights
    * Kirin (2503 JP): Thai billionaire tops bid by OUE and Kirin for Fraser & Neave
    * NTT DoCoMo (9437 JP): Will release a low-priced tablet to compete against rival products, Nikkei reports
  * South East Asia Highlights
    * Fraser & Neave (FNN SP), Overseas Union Enterprise (OUE SP): Thai billionaire tops OUE group’s bid with S$13.8b offer
    * Tenaga Nasional (TNB MK): JV gets 1b ringgit, 7-yr contract from Kuwait power plant


MARKETS:
  * U.S. markets were closed for holiday
  * Stoxx Europe 600 up 0.3% to 287.78
  * U.S. 10-year yield at 1.843%
  * Brent futures down 0.1% to $111.77/bbl
  * Feb. gold futures up 0.2% to $1,689.70/oz

(Bloomberg)


US Stock News

WALL STREET: With 72 percent of corporate earnings exceeding analysts’ estimates, it may be difficult for U.S. stocks not to reach a record in 2013. The Standard & Poor’s 500 Index is 5.1 percent below the all-time high in October 2007. Profits in the benchmark gauge are forecast to exceed $1 trillion this year, or 31 percent more than when the gauge peaked, according to more than 11,000 analyst estimates compiled by Bloomberg. Even if the price- earnings ratio, now 9.8 percent below the six-decade mean, doesn’t expand, the S&P 500 is poised to recover fully from the financial crisis that began almost six years ago.


European stocks rose today and U.S. equity index futures advanced while German bonds declined as European finance ministers meet for the first time this year to discuss the debt crisis. The yen rose from a two-year low. The Stoxx Europe 600 Index added 0.3 percent, with the volume of shares changing hands 34 percent less than the 30-day average. Standard & Poor’s 500 Index futures gained 0.3 percent. Japan’s currency strengthened 0.5 percent to 89.64 per dollar at 4:08 p.m. in New York. In Canada, the S&P/TSX increased 0.5 percent. Oil dropped from a four-month high. U.S. natural gas climbed to its highest level since Dec. 7.


Implied volatility in crude oil, a measure of expectations for future price swings, eased to its lowest level in 17 years as growing confidence in the global economy was balanced by surging output in North America. The implied volatility for U.S. West Texas Intermediate crude on the New York Mercantile Exchange was at 21.7 percent on Jan. 18, based on data for the rolling second-month options contract. That’s the lowest since a level of 21.2 percent was reached on Jan. 9, 1996. Oil prices have been supported by the receding likelihood of any collapse in the single European currency, while at the same time price rallies have been prevented by booming U.S. production, according to Archbridge Capital AG.
 

(Bloomberg)

Singapore Idea Snippets:

posted Jan 20, 2013, 6:46 PM by Stock Fanatic

Singapore News


JPMorgan Chase & Co., which is Fraser & Neave Ltd.’s independent financial adviser, says Kirin’s offer price of S$2.7b for the food and beverage business is 5.2 percent lower than the mid-point range for the worth of the asset, according to a statement.


WHAT TO WATCH:
  * Fraser & Neave (FNN SP) Thai billionaire Charoen Sirivadhanabhakdi boosted his stake in Fraser & Neave Ltd. to almost 40 percent and raised his takeover offer for the  real estate and soft-drink company to block a rival group.
  * Olam International (OLAM SP) rights offer closes, co. allots bonds, warrants
  * M1 Ltd. (M1 SP) reported partially affected 3G service fully restored; IDA said it will investigate service outage, according to Today newspaper
  * Chosen Holdings (CHOS SP) group expected to report loss for first half
  * Fabchem China (FABC SP) group’s profit expected to be ‘significantly’ lower in 3Q
  * United Overseas (UOB SP) establishes $10b U.S. commercial paper program


MARKETS:
  * S&P 500 up 0.3% to 1,485.98
  * Stoxx Europe 600 down to 287.03
  * MSCI Asia Pacific up 1.2% to 132.72
  * Straits Times Index rose 0.5% to 3,211.22


ECONOMY:
  * Singapore plans to sell S$2 billion of 91-day bills and S$2 billion of 182-day notes


EARNINGS:
  * M1 Ltd. (M1 SP) full-year

(Bloomberg)

Malaysian News

RAM Rating Services Bhd. will hold a briefing today to announce a corporate development, according to an e-mailed statement from the company.


EQUITY MOVERS:
  * Aliran Ihsan (AIRB MK): To halt share trade on Jan. 22 for capital reduction
  * Bright Packaging (BPKG MK): Q1 net profit 1.7m ringgit vs 663,000 ringgit yr ago
  * CIMB (CIMB MK): Unit CIMB Thai FY2012 net 1.6 billion baht ($53.8 million) vs 1.3 billion baht year ago
  * Kumpulan Jetson (KJB MK): Gets 35m ringgit building contract
  * Patimas (PATI MK): Not approached for tie-up with China companies


WHAT TO WATCH:
  * Intertek and SGS to announce Malaysia’s Jan. 1-20 palm oil export estimates


MARKETS:
  * Malaysia’s FTSE Bursa Malaysia KLCI Index fell 0.3%
  * The MSCI Asia Pacific Index increased 1.2%
  * The Dow Jones Industrial Average gained 0.4%
  * Palm oil April-delivery futures rose 0.8%

(Bloomberg)

Asian News

A look at the coming week in Asian equity markets (Bloomberg data unless stated -- click here for instructions how to receive the story in your inbox):


WHAT TO WATCH:
  * BOJ’s next move on asset-purchase program as yen reaches lowest vs dollar since June 2010
  * Earnings incl. Apple, Samsung, Hyundai Motor, NTPC, HDFC, Keppel Corp.
  * Fraser & Neave denouement; OUE must respond today to TCC bid
  * Australian output reports incl. BHP, Fortescue
  * World Economic Forum in Davos
  * 787 developments; Boeing woes may hurt Japan suppliers: BofAML
  * HSBC’s Ping An stake sale under scrutiny from regulator


MONDAY
  * FNN auction may take place after TCC raised bid
  * Earnings include HDFC, NTPC, Shree Cement, Kasikornbank, Cairn India, Asian Paints
  * Japan Dec. final machine tool orders
  * Hong Kong Dec. CPI
  * Taiwan Dec. export orders est. +9.1% Y/y
  * Tokyo Steel Manufacturing briefs on Feb. prices; co.’s price of H-beam considered benchmark in Japan
  * Huawei CFO Meng Wanzhou, daughter of founder Ren Zhengfei, holds her first press conference in Beijing
  * Olam rights offer closes, co. allots bonds, warrants
  * PTT Exploration & Production gives 2013-17 investment plan
  * Euro finance ministers meet in Brussels
  * U.S. markets closed for public holiday


TUESDAY
  * Bank of Japan likely to establish 2% annual inflation target and add to asset-purchase program; may pledge open-ended asset buying, Reuters reported; Governor Shirakawa to address reporters
  * Earnings include Hindustan Uniliver, Indiabulls Financial, SGX, Dish TV, Kotak Mahindra
  * Bank of Thailand Governor Trairatvorakul to announce policy for 2013
  * Japan Finance Ministry briefing on primary dealers, JGB investor meetings
  * Japan Nov. all industry activity index
  * Euro finance ministers discuss financial-transaction tax
  * U.S. existing home sales in Dec.
  * U.S. earnings include Google, IBM, Texas Instruments


WEDNESDAY
  * Earnings incl. Reliance Comm, Keppel Land, CapitaCommercial Trust, Havells India, Zee, JSW Energy, Yaskawa Electric, Inotera, Nanya Tech
  * BHP gives Dec. quarter output
  * Apple earnings, may report first drop in profit since 2003
  * Apple-Samsung patent case: U.S. trade commission to say whether it will review or let stand Oct. 24 ruling that Samsung infringed 4 Apple patents
  * Conference Board China Dec. leading economic index
  * Australia consumer prices 4Q
  * Malaysia CPI Dec. est. +1.4% y/y
  * Taiwan Dec. industrial production est. +6.35%
  * Singapore Dec. CPI est. +3.8% Y/y
  * BOJ monthly economic assessment
  * Japan Cabinet Office Jan. economic report
  * Hong Kong CEO Leung attends H.K. General Chamber of Commerce
  * Indian Finance Minister Chidambaram visits Singapore
  * Davos runs through Sunday; speakers include Merkel, Draghi, Dimon
  * Earnings ex-Asia incl. Novartis, McDonald’s, Siemens, Unilever


THURSDAY
  * Earnings incl. Hyundai Motor, LG Display, Keppel Corp., Nidec, Larsen & Toubro, Sesa Goa, ResMed
  * Fortescue, Newcrest, OZ Minerals, PanAust give Dec. quarter output
  * China preliminary HSBC PMI for Jan.; Dec. was highest in 19 mos.
  * Philippines interest rate decision; no change forecast by all 11 economists in survey
  * Japan trade data Dec.; est. 759b yen deficit
  * S. Korea prelim. 4Q GDP est. +1.8% Y/y
  * H.K. Dec. exports est. +10% Y/y
  * Toyota Industries deadline for $65/shr tender offer for Cascade Corp.
  * Earnings ex-Asia incl. Microsoft, AT&T, Starbucks
  * U.S. new homes sales in Dec. seen at highest since April 2010
  * Australia options & futures expire (individual equity)


FRIDAY
  * Earnings include Samsung Electronics, Maruti Suzuki, Shriram Transport, Reliance Power, Samsung Techwin, Samsung Card
  * Japan inflation data Dec. est. -0.2%
  * BOJ Dec. 19-20 policy meeting minutes
  * Singapore Dec. industrial production est. -4.5% Y/y
  * Tim Geithner steps down as U.S. Treasury Secretarty; Jack Lew nominated by president
  * Earnings ex-Asia incl. Proctor & Gamble


Also this week:
  * Cnooc may announce output target for 2013
  * L’Occitane may announce 9-month sales figures


M&A WATCH
  * Monday:  Thai group led by billionaire Charoen raised offer; auction may take place today
  * Thursday: Toyota Industries deadline for $65/shr tender offer for Cascade Corp.


IPOs
  * No major IPOs due to start trading


MARKETS CLOSED:
  * Monday: U.S.
  * Thursday: Indonesia, Malaysia
  * Friday: Sri Lanka


WEEK’S WINNERS AND LOSERS:
  * MXAP index rises for eight week in nine to highest week-end level since July 29, 2011
  * Ninth straight week of net inflows to emerging markets by foreign institutional investors
  * Avg volume Mon.-Thurs. $9.2b vs 2012 weekly avg $7.8b
  * Health care, consumer discretionary lead gains in 7/10 sub- sectors; IT falls most
  * MXAP’s top gainers incl. Sharp, Ricoh, Sony, Bharat Petroleum, Chongqing Rural Commercial Bank, Panasonic, Mazda; biggest losers incl. Li & Fung, United Breweries,   Obayashi, Innolux, Yangzijiang Shipping, City Developments
  * India, Thailand, China best-performing markets; worst performers incl. Vietnam, Taiwan, Korea
  * CDS movers (CMA prices) incl. Hopson Development (-695), Sharp (-266)


OTHER DATA:
  * Biggest weekly rise in FY consensus net income ests. incl. Nintendo, NKSJ, Ibiden, Nippon Yusen, Cathay Pacific; biggest drops incl. LG Uplus, Li & Fung, LG Innotek, Mitsui Chemicals
  * Biggest consensus rating upgrades by analysts in past week incl. Yingde Gases, Commonwealth Property, Techtronic; biggest cuts incl. BEC World, Haitian International,   Malaysian Resources Corp., Mitsui OSK
  * Highest short interest (Markit data) as % of free float in Singapore, Olam; in H.K., ASM Pacific Tech; in Japan, Gree; in Australia, Flight Centre
  * “Oversold list” (trade below 20/50/200 DMAs, Bollinger lower band, RSI below 30) incl. Hero MotoCorp, Ranbaxy

(Bloomberg)


US Stock News

WALL STREET: Stocks end mostly higher, S&P 500 and DJIA close at 5-yr highs, amid talk of a short-term increase to the debt limit. Indexes trended up since noon, rallied in the final half-hour to close at the highs.
  * S&P 500 +0.34% to 1485.98
  * DJIA +0.39% to 13649.7
  * Nasdaq 100 -0.14% to 2743.239
  * Gold down 0.34% to $1685
  * WTI Crude down 0.15% to $95.35
  * 10-yr Treasury -4.31bp to 1.8372%
  * All prices as of 4:18pm in New York


MAJOR STORY:
  * House to Pass Temporary Debt Rise Next Wk, Cantor Says
    * White House “Encouraged” by House Republican Debt-Limit Plan
    * “Clean” Debt-Limit Increase May Be Considered: Reid Aide
    * Boehner Says Long-Term Debt Limit Hike Must be Tied to Cuts
    * GOP Debt Ceiling Proposal a “Gimmick,” Pelosi Aide Says


TOP NEWS:
  * J&J Said to Offer Hip Case Accord That May Exceed $2b
  * HSBC to Pay $249m in Settlement Over Foreclosure Errors
  * Pentagon Orders Temporary Grounding of F-35B: Reuters
  * No Shortcuts on Assault-Weapons Bill Process, Feinstein Says
    * Holder: Assault Weapons Ban and Ammunition Limits “Essential”
  * Flu-Related Deaths Above Epidemic Levels, CDC Says
  * ST-Ericsson Hired JPMorgan to Explore Options, Possible Sale: WSJ
  * Citigroup Said to Cut Some Banker Bonuses by as Much as 20%
  * University of Michigan Jan. 71.3 (Prelim) vs 75.0 Estimate; Dec. Final 72.9
  * Heathrow Airport to Sell Stansted for GBP1.5b
  * Weekend movie preview


MARKET DATA:
  * S&P 500 +0.34%; DJIA +0.39%; Nasdaq 100 -0.14%
    * S&P 400 +0.27%; S&P 600 +0.39%; Russell 2K +0.27%; SOX  -0.46%; KBW -0.26%
  * LIFE MS STT SLB CNX gained most in the S&P 500
  * S&P 500: 340 stocks, 68% of the index, climbed
  * 9 of 10 S&P sector groups positive
    * Industrials +1%, energy +0.9%, utilities +0.86%, telecom +0.78%, materials +0.55%
    * Consumer Staples +0.38%, health care +0.37%, consumer discretionary +0.18%, financials +0.15%, tech -0.33%
  * GE CAT DD HPQ VZ led in the DJIA; 23 components positive
  * INTC MNST AMGN CHKP FFIV led to the downside in the Nasdaq 100; 37 components negative
  * Advancers beat decliners 1.7 to 1 on the NYSE
  * Total number of shares traded 6.572b; above 50-, 100-, 200-DMAs


RISK ON/RISK OFF:
  * VIX Index down 8.18% to 12.46
  * ON:
    * SPDR-Consumer Discretionary up 0.12% to 49.82
    * iShares MSCI Emerging Markets up 0.22% to 44.775
    * MSCI Emerging Markets up 0.74% to 1081.05
  * OFF:
    * iShares DJ U.S. Healthcare Sector up 0.22% to 88.3
    * SPDR-Consumer Staples up 0.41% to 36.48


TREASURIES:
  * UST yields significantly lower on flows out of EUR, disappointing U. Mich., concern about debt ceiling, says Bloomberg analyst TJ Marta
    * 2Y yield now above 25bps, though stuck among congested technical levels
    * Yields further out remain in downtrends
  * 30-yr -4.74bp to 3.0256%
  * 10-yr -4.31bp to 1.8372%
  * 2-yr -1.13bp to 0.2503%


CURRENCIES:
  * FX mostly lower with modest to moderate changes, says Bloomberg analyst TJ Marta
    * GBP underperforms on weak retail sales data, with GBP/USD extending breach below congested technical support
    * USD/JPY, EUR/JPY trading to new highs on continuing shift in market paradigm regarding more accommodative Japanese policy
    * EUR/USD stalled at 1.34 with prospects for LTRO repayments offset by weak economic outlook, simmering debt problems among EU countries
  * Dollar Index Spot up 0.51% to 80.053
  * Euro/dollar down 0.46% to 1.3315
  * GBP/dollar down 0.76% to 1.5872
  * Dollar/Yen down 0.23% to 90.09


COMMODITIES:
  * Silver hits one month high
  * Metals:
    * Gold down 0.34% to 1685
    * Silver up 0.36% to 31.902
    * Copper up 0.42% to 367.75
    * Aluminum down 0.31% to 2020.75
    * Platinum down 1.67% to 1669.5
    * China import iron ore benchmark grade down 0.21% to
      145.1
  * Fuels:
    * WTI Crude down 0.15% to 95.35
    * Nat Gas up 2.09% to 3.567
    * Gasoline up 1.24% to 280.27
    * Heating Oil up 1.12% to 305.5
  * Agriculture:
    * Corn up 0.41% to 727.5
    * Wheat up 1.28% to 791.25
    * Orange Juice up 1.96% to 114.55
    * Soybeans down 0.07% to 1429.25
    * Coffee up 0.51% to 156.3
    * Cotton up 0.99% to 78.55
    * Sugar down 0.27% to 18.37
    * Cocoa down 0.65% to 2285


MERGERS & ACQUISITIONS:
  * Brocade’s New CEO Lloyd Carney Rules Out Plan to Sell Company
  * Knight Said to Seek Credit Team’s Sale as Bond Traders Defect
  * Arbitron Deal Spread Narrows; Nielsen May Close by March 15
  * Yahoo Acquisitions Could Include Start-Ups: BusinessInsider
  * Life Tech Hires Advisers for Review


GOVERNMENT:
  * Pay Rules for U.S. Mortgage Brokers Issued by Consumer Bureau
  * Pa. Congressman Asks Argonne Lab to Help Boeing on Dreamliner
  * U.S. Appeals Court Panel Upholds Wisconsin Public Unions Law
  * Treasury Commences Plan to Sell General Motors Common Stock
  * Hawaii Court Orders Online Travel Cos. to Pay $150m Taxes: BNA


WHAT TO WATCH TUESDAY:
  * U.S. markets closed Monday for holiday
  * Earnings: TRV DD VZ JNJ IBM RF WAT FCX TXN TSS CSX AMD CA NSC GOOG IGT ISRG PKG KSU RFMD CREE
    * Preview: FCX, VZ
  * Economic: Dec. Chicago Fed national activity index, Jan. Richmond Fed manufacturing index, Dec. existing home sales
  * Government: House, Senate in session
  * Lockups expiring: On Jan. 21 EOPN HPTX NTI
    * On Jan. 22 DFRG AMRE JPI NDP


Stocks that may move in U.S. trading on Jan. 22:
  * Crocs (CROX): May rise 35% or more in next yr as footwear retailer adds style selection, expands full-line outlets, Barron’s reported, without citing anyone
  * Fossil (FOSL): May rise as much as 15% as it expands Asian ops and licensing rev. grows, Barron’s said, citing Cowen analyst John Kernan
  * Lumber Liquidators (LL): Shrs look fully priced and may fall if LL fails to keep expanding earns. above est., Barron’s said, without citing anyone

(Bloomberg)

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