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| 31-Jan-2013 11:12 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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A major wave of earnings news Thursday could keep the tug-of-war going between Wall Street's bulls and bears. Stocks slumped Wednesday, as the books were about to close on January -- so far the best January for the S& P 500 since 1997. On Wednesday morning, stocks overcame the first negative GDP print in more than three years, as many economists expected a positive revision in coming weeks and blamed the surprise 0.1 percent contraction in the fourth quarter on a big drop in defense spending and inventories. (Read More: Why This Is 'Best-Looking' GDP Drop You'll Ever See) The dip in defense spending came after a stronger third quarter for defense, and the decline was seen as the result of winding down war spending in Iraq and Afghanistan. It was also seen as possible advance activity ahead of the 'sequester,' the automatic cuts to defense and other government agencies that comes March 1 if Congress does not act. " The fact inventories collapsed tells me demand was bigger than investors expected. On the manufacturing and cap ex output side, you're probably going to see a bounce in Q1," said Larry Kantor, director of research at Barclays. Stocks fluctuated but finished the day lower, after the Fed released a statementproviding little new information. Fed officials did point out that economic activity " paused in recent months" due to weather and temporary factors. They also said they expect economic growth to continue at a moderate pace and the job market to improve, as they kept their $85 billion a month asset purchase program in place. (Read More: Fed Hawk Voices Doubts Over Benefits of Bond Buying) Art Cashin, director of floor operations at UBS, said stocks had an interesting finish Wednesday. He said there was a surge of buy orders –as much as $1 billion more to buy than sell- at the close, but the headlines of an Israeli attack on Syria weighed on sentiment and prices. " The market on close buyers are all playing the multinationals," he said. |
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| 31-Jan-2013 11:04 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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STI 3300 COME M NEY COME
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| 31-Jan-2013 10:07 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Slowly up...enjoy... | ||||
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| 31-Jan-2013 08:34 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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STI 3300 COME MNEY COME
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| 30-Jan-2013 21:22 |
Vard
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STXOSV
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Tonight sayang this precious... | ||||
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| 30-Jan-2013 19:54 |
Swiber
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Swiber
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Don't miss the boat woh... | ||||
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| 30-Jan-2013 19:01 |
Dyna-Mac
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Dyna-Mac Holdings
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Won't be too long. Today they are quite fed up.
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| 30-Jan-2013 18:32 |
Golden Agri-Res
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GoldenAgr
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There are too much supplies causing the price to face resistance. Labour costs are also contributing factors. Hope the China wave can give it a lift. Finger-crossed. | ||||
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| 30-Jan-2013 18:20 |
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STI to cross 3000 boosted by long-term investors
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Maybe all should meet up then set up a hedge fund company. Some in charge of the long's department, Isolator will be the head of short's department. Then no need to argue anymore. Everybody Huat together. Live happily ever after...
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| 30-Jan-2013 18:10 |
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STI to cross 3000 boosted by long-term investors
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Cheers!
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| 30-Jan-2013 14:16 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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STI 3300 COME MNEY COME
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| 30-Jan-2013 13:39 |
Dyna-Mac
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Dyna-Mac Holdings
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Btw, gap closed with huge volume. | ||||
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| 30-Jan-2013 12:45 |
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STI to cross 3000 boosted by long-term investors
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OCBC bullish on asia equities. Ample liquidity, attractive valuation, the US, European debt issues are the " new normal" . Money coming out of expensive bonds into equities. | ||||
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| 30-Jan-2013 12:41 |
Midas
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Midas
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30-01-2013 12:31:38 DEAL REVIEW: China Railway opens central SOE space with USD8bn orders HONG KONG, Jan 30 (IFR) - Hong Kong- and Shanghai-listed [China Railway Group] opened the infrastructure construction space in Asian G3 market with stellar result as it collected USD8bn of orders for a USD500m deal. The first rated SOE issuer under the State-Owned Assets Supervision and Administration Commission to tap the international bond market in 2013 paved the way for other SOEs to follow suit. Indeed, [China State Construction International Holdings] (Baa3/BBB-/BBB-) duly followed, announcing this morning that it has mandated Bank of America Merrill Lynch, China International Capital Corporation Hong Kong Securities and Deutsche Bank to take it in roadshows to Hong Kong, Singapore and London starting tomorrow. There is also talk that CNPC has mandated a deal and rumours that more are in the works. " China Railway could have gone for a much larger deal, but it seems to have taken a disciplined approach - not to stretch its muscles but leaving some room for other Triple B rated SOEs," said a rival banker. The company did a good job of opening the door for other Chinese SOEs as it created a fairly tight benchmark but also left enough on the table to ensure secondary performance. The bonds were quoted this morning at 100.185. The state-owned company priced its USD500m 10-year Reg S only bond at 99.786 to yield 3.876% on a 3.85% coupon, or 190bp over the 10-year US Treasury. That was at the tight end of final guidance of T+195bp area and 30bp tight to initial price talk of 220bp over. The transaction was 16 times oversubscribed with 350 accounts putting orders, thanks to significant anchor interest from high-quality PRC accounts from the beginning. Fund managers and asset managers were allocated 52% of the transaction, while banks took up 21%. Insurance and public sector buyers took 9%, private banking accounts 9% and corporates and other investors bought 3%. Asia accounted for 70% of the bids while Europe came in with the rest. The issuer must be happy too with the significant tightening of 30bp from initial price guidance, however some investors commented that they would have preferred a larger, more liquid deal and with a juicier price. Having said that, in terms of credit and scarcity, it is almost a must buy for benchmark and portfolio reasons, according to an investor. And even at a tighter price, the deal still left some money on the table. The bonds offerd a decent pick-up over China Oilfield Services (A3/A-/A-), as its 3.25% due 2022 paper was quoted yesterday at 145bp over UST, or a G-spread of approximately 153bp. However, compared to the 3.95% due 2022 from China Overseas Land (Baa2/BBB), which was quoted at 205bp over UST, the China Railway deal looked fairly tight. That notion fades, though, when ratings are taken into account as China Railway is expected to be rated BBB+/BBB+, hence one notch above China Overseas Land. Railways is 56% owned by the Central Government, and while other names like Beijing Enterprises are maybe stronger standalone credits, they are also part-owned by a lesser municipal entity. And Beijing Enterprises 22s trade around +145/130, so call it z+158bps. China Railway Group and China Railway Construction share a virtual duopoly in domestic rail construction. China Railway Group has around 40%-45% of that market. It is also frequently allocated commercial construction contracts for overseas projects on behalf of the Chinese government. For that reason, analysts see the strategic importance of the company and the bond price should reflect that. BOC International and Standard Chartered Bank are joint global coordinators, as well as joint lead managers and joint bookrunners with Barclays, Deutsche Bank, HSBC and UBS. The banks had arranged a series of fixed income investor meetings in Hong Kong, Singapore and London, commencing on 24 January 2013. The Reg S offering will be issued via China Railway Resources Huitung. The deal will carry a guarantee from China Railway, with the approval for the guarantee already obtained from SAFE, the agency responsible for such guarantees in China. China Railway Group will be the first Chinese infrastructure construction company to tap the offshore market. The listco is expected to have ratings of BBB+ from both S& P and Fitch, while the notes are also projected to be BBB+. S& P views CRG as a government-related entity and sees a " high" likelihood of extraordinary support from the Chinese Government, based on the assessment that the company plays a key role in developing PRC's railway infrastructure. The company also has a key role in China's overseas infrastructure projects. CRG is the largest engineering and construction company for China's growing urban railways. S& P also notes the " very strong" link with the government. In the agency's view, the government is unlikely to dilute its ownership of CRG in the next five years. It believes the government exerts a strong influence on the company's strategy through the appointment of the board and senior management of the parent company. The deal settles on February 5 and final maturity is on the same date in 2023. |
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| 30-Jan-2013 12:16 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Bu Da Bu Xiang Shi | ||||
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| 30-Jan-2013 11:34 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Precisely, small percentage of inflows here can make a big difference...cheers!
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| 30-Jan-2013 11:28 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Funds don't put everything in one basket.
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| 30-Jan-2013 11:11 |
Ezra
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Ezra
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It is on course for the longest rally....congrats!
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| 30-Jan-2013 11:03 |
Dyna-Mac
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Dyna-Mac Holdings
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Due to the lack of investors willing to sell, the institutional buyers are having problems accumulating this stock. If they really want to accumulate for the long term benefits, they will have to offer a much higher price. | ||||
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| 30-Jan-2013 10:59 |
Dyna-Mac
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Dyna-Mac Holdings
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Near term target is 0.57. | ||||
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