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?More Hopeful?

Bernanke is scheduled to speak in Washington today after Fed Bank of New York President William Dudley said yesterday that while he?s ?more hopeful? the U.S. economy is strengthening, it?s not enough to warrant stimulus cuts yet.

Chicago Fed President Charles Evans, among the most vocal advocates for additional easing from the Fed, said today that while the central bank is going to deliver highly accommodative policy until it can get the economy where it wants, the biggest challenge is credibility.

The Organization for Economic Cooperation and Development cut global growth forecasts for this year and next as emerging-market economies including India and Brazil cool. The world economy may expand 2.7 percent this year and 3.6 percent next year, instead of the 3.1 percent and 4 percent predicted in May, the Paris-based OECD said in a report today. Growth in the U.S. will be 1.7 percent and 2.9 percent this year and next, broadly similar to the outlook in May.

Fed Minutes

The Fed will release minutes of its October policy meeting tomorrow. The document will reveal more details behind the decision to press on with $85 billion in monthly asset purchases.

Policy makers will probably pare that pace to $70 billion at their March 18-19 meeting, according to the median estimate in a Bloomberg survey. Three rounds of monetary stimulus have helped propel the S& P 500 up 165 percent from a bear-market low in 2009.

Wall Street strategists have played catch-up in their U.S. stock-market forecasting for most of the year. Yesterday?s average prediction for the S& P 500 stood at 1,733, or almost 59 points below the index?s closing value. The gap dwindled to this year?s low of minus 70 points at the end of last week from a high of 84 points on Jan. 8.

John Stoltzfus, chief market strategist at Oppenheimer & Co. in New York, today boosted his 2013 projection for the S& P 500 by 4.7 percent to 1,812, citing the market?s strength. The index will end next year at 2,014, he forecast.

Economic Recovery

?Recent improvements in the tone of U.S. economic data suggest to us that prospects are good for investors to see a continuation of the economic recovery that could drive earnings higher in the year ahead,? Stoltzfus wrote in a note.

The S& P 500 trades at 16.9 times reported operating profit, a 20 percent increase from the beginning of 2013, according to data compiled by Bloomberg. Last week, the benchmark?s valuation reached the highest level since May 2010.

The Chicago Board Options Exchange Volatility Index (VIX), the gauge of S& P 500 options known as the VIX, rose 2.2 percent today to 13.39. The measure is down 26 percent this year.

Six out of the 10 main S& P 500 industries declined as industrial and utility shares fell more than 0.6 percent for the worst performance.

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20-Nov-2013 06:38

Straits Times Index / STI to cross 3000 boosted by long-term investors

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World Markets

North and South American markets finished broadly lower today with shares in Brazil leading the region. The Bovespa is down 2.35% while Mexico's IPC is off 0.95% and U.S.'s S& P 500 is lower by 0.20%.

North and South American Indexes

Index	Country	Change	% Change	Level	Last Update
Dow Jones Industrial Average	United States	-8.99	-0.06%	15,967.03	4:32pm ET
S& P 500 Index	United States	-3.66	-0.20%	1,787.87	4:32pm ET
Brazil Bovespa Stock Index	Brazil	-1,274.13	-2.35%	53,032.91	2:16pm ET
Canada S& P/TSX 60	Canada	-0.90	-0.12%	775.15	4:19pm ET
Santiago Index IPSA	Chile	-32.73	-1.00%	3,227.82	3:16pm ET
IPC	Mexico	-390.86	-0.95%	40,643.25	4:06pm ET

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19-Nov-2013 16:36

OUE / OUE LTD worth buying for long term

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NAV as at 30.9.13 : $ 3.43

OUE currently trades at 0.6x FY14 P/B and 0.55x FY14 P/RNAV, which we think are inexpensive.

We expect some re-rating with the fruition of the commercial REIT listing,

WanSiTong ( Date: 11-Nov-2013 21:14) Posted:

OUE Limited - In the Process of Transformation

Written By Stock Fanatic on Monday, November 11, 2013

3Q13 affected by higher borrowing costs and one-off expenses. OUE reported lower-than-expected 3Q13 net profit of SGD13.4m (-8% QoQ, -44% YoY), due mainly to higher borrowing costs as well as a SGD5m loss from the sale of its two hotels in China. 9M13 PATMI fell short, coming in at just 33% of our full-year estimate.

Maintain BUY with a revised TP of SGD3.05, pegged to a 30% discount to RNAV following a transfer of coverage.

Expenses on the rise

Besides higher borrowing costs arising from fair value loss on derivatives, other OPEX also increased on higher legal and professional fees incurred in the listing of OUE Hospitality Trust (OUEHT). 3Q13 PATMI would have been even lower, if not for a SGD4.9m tax credit as opposed to a SGD4.4m tax charge in 2Q13. OUE Bayfront suffered a marginal SGD72.2m fair value loss, which was offset by a SGD73.1m fair value gain on US Bank Tower.

MOS and MG remain consolidated within OUE

OUE spun off Mandarin Orchard Singapore (MOS) and Mandarin Gallery (MG) into OUEHT, which was listed in Jul 2013. Despite the fact that MOS was transacted at SGD1.2b, the asset remains consolidated on OUE?s balance sheet at historical cost less accumulated depreciation (~SGD115m) due to the adoption of FRS110 ? a new accounting standard that requires investees to be consolidated if the investor retains control over the former, regardless of its equity stake.

Next up, OUE Commercial Trust?

Following the listing of OUEHT, OUE is exploring the listing of a commercial REIT comprising OUE Bayfront as a seed asset, along with Lippo Plaza in Shanghai, currently held by HK-listed Lippo China Resources Limited. While we see this positively as it will strengthen OUE?s fund management business and raise the probability of bumper dividends in FY14, we will also keenly watch how OUE will redeploy the balance of the proceeds.

Intra Day

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Valuations are inexpensive

We cut our FY13-15 forecasts by up to 45% after factoring in higher cost of borrowing and adjusting our sales assumptions for Twin Peaks. Nonetheless, OUE currently trades at 0.6x FY14 P/B and 0.55x FY14 P/RNAV, which we think are inexpensive. We expect some re-rating with the fruition of the commercial REIT listing, which is likely to happen in 2014.(Read Report)

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19-Nov-2013 16:06

CapitaMalls Asia / First Day trading open at $2.30

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CapitaMalls Asia - Initiation: building up its core

Written By Stock Fanatic on Tuesday, November 19, 2013 | 19.11.13

? A blue-chip pure play on necessity shopping and structural growth of Asia?s middle-income consumer group

? We expect CMA?s earnings quality and visibility to improve as it shifts its focus to nurturing its recurring income base

? Maturing of malls opened in recent years should drive a 30.9% core earnings CAGR for 2013-15E initiating with a Buy

■ Investment case

CapitaMalls Asia (CMA) is a blue-chip developer and operator of shopping malls in five Asian countries. It offers exposure to necessity spending and Asia?s middle-income consumer group ? segments that we believe will offer resilience and continue to see good structural growth for the next few years. We project strong core earnings growth for CMA for 2013-15 and see good valuation rerating potential. We thus initiate coverage with a Buy (1) rating.

CMA has an integrated shopping-mall business model spanning site location, development, leasing, operation and management of malls. The company is shifting its focus from developing projects towards nurturing its recurring income base, which we expect to improve its earnings quality and visibility in the next few years. We forecast a 30.9% core earnings CAGR for 2013-15, driven by its malls opened in recent years starting to mature and likely seeing positive rental reversions. We believe CMA?s overall portfolio has been conservatively appraised by independent valuers and should continue to experience positive revaluations.

■ Catalysts

We identify key share-price catalysts as continuous yield improvements at CMA?s China malls, successful openings of its two new malls in Singapore, and a sustained recovery in shopper traffic and tenant sales. Positive news flow on Asia retail sales would also support its share price. Further, in August 2013 CMA announced plans to collaborate with the Changi Airport Group to develop Project Jewel, a mixed-use complex at Changi airport. We think this would be positive for CMA if it can negotiate a sizeable equity stake in the project.

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■ Valuation

Our six-month target price is SGD2.39, based on a 1.32x PBR (1SD above CMA?s six-month forward PBR since listing) applied to our six-month forward BVPS, and implies a 1.8% discount to our 2014E RNAV. CMA is trading at a PBR of 1.13x (based on its reported BVPS of SGD1.79 at end- 3Q13), just above its average rolling PBR since listing of 1.11x. We see good scope for a continuous rerating given our outlook for growth in its operating asset base and robust core earnings.

■ Risks

Key risks include an oversupply of malls, increasing competition, a slower-than-expected ramp-up of its China malls, and falling mall valuations if capitalisation rates rise. (Read Report)

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19-Nov-2013 14:29

Citicode / AdvSCT 'alive' again!!

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Almost 74 m shares transacted at 0.006

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19-Nov-2013 13:20

Straits Times Index / STI to cross 3000 boosted by long-term investors

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NEWS HEADLINES

- US stocks closed mostly lower on Mon after activist investor Carl Icahn said he?s ?very cautious? on equities and they could experience a ?big drop.?

- Singapore's non-oil re-exports (NORX) surged to a record high of S$22.3b in Oct, rising 26.7% YoY....

- SingHaiyi Group has acquired the full equity stake of Vietnam Town, a partially completed commercial condominium development project in San Jose, California, for US$33.05m.

- Falcon Energy Group proposed a 1-for-10 bonus warrant issue of up to 82,453,751 free warrants for shareholders.

- Soilbuild Construction has won a contract to build a S$13m facility at the new Seletar Aerospace Park.

- NSL Chemicals, a wholly owned subsidiary of NSL Ltd, has agreed to sell its entire 100% stake in NSL Chemicals (Thailand) Ltd (NSCT) to SCG Chemicals Ltd for S$328.3m.

- Civmec Construction & Engineering, a subsidiary of Civmec Limited, has bagged new contracts worth a combined S$65m.

Market Recap

US equities closed mostly lower on concerns that the current rally is unsustainable.

The Dow finished modestly higher although it was up by as much as 69 points intraday. Boeing (+1.7%) led gains for 14 of the Dow?s components on news of strong aircraft orders. The S& P 500 was dragged lower by the consumer discretionary and energy sectors while the NASDAQ Composite experienced declines after Apple lost 1.2%.

WTI Crude for Dec lost 81 cents, or 0.9%, to end at US$93.03 while Jan Brent shed 3 cents to settle at US$108.47/barrel.

The slide by precious metals continued as investors evaluated the timing of the Fed?s tapering. Gold for Dec delivery fell by US$15.10, or 1.2%, to end at US$1,272.30/ounce while Dec Silver lost 37 cents, or 1.8%, to end at US$20.36/ounce.

Implications for Singapore

The pull-back on Wall Street overnight is likely to cue the local bourse to a poorer start this morning.

Despite other Asian markets having a strong run yesterday, the STI ended just 0.1% higher (just 3 points above the 3200 psychological level) this suggests that local sentiments remain rather uncertain at the moment.

And with today?s tone likely to be a tad more downside biased, we could see the index testing the 3200 level again.

Below that, the next base lies at the 3155 minor trough. On the upside, 3230 is still the immediate resistance (minor peaks), as the next hurdle is pegged at the 3260 key peaks.

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19-Nov-2013 13:17

Midas / Midas

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OCBC Securities says?

MIDAS HOLDINGS | BUY | TP: S$0.67

Midas Holdings? 3Q13 results exceeded our expectations, with revenue jumping 48.5% YoY to CNY301.0m, or 15.8% above our forecast

Gross margin of 20.8% (-10.7 ppt YoY) disappointed due to a change in product mix as more aluminium extrusion profile deliveries were made to the lower margin freight wagons, while there was also an increase in per unit production cost

Nevertheless, bottomline reversed from a CNY6.1m net loss in 3Q12 to a PATMI of CNY16.4m and beat our projection of CNY13.3m

This was attributed largely to a share of profit of CNY10.9m from its 32.5%-owned associated company Nanjing SR Puzhen Rail Transport (NPRT) as more train cars were delivered, versus a share of loss of CNY7.0m in 3Q12. For 9M13, revenue and PATMI increased by 20.6% and 145.6% to CNY787.5m and CNY26.4m, respectively

Current order book stands at CNY900m for Midas and CNY8.5b for NPR

Midas recently clinched CNY167.5m of contracts to supply aluminium alloy extrusion profiles for the manufacture of high-speed railway (HSR) train cars on 21 Oct this year
We expect the bulk of this contribution to be booked in 4Q13, with the remainder in 1Q14 due to tight delivery schedules from its customers
Meanwhile, the China Railway Corporation (CRC) recently opened the second round of HSR train car tenders on 7 Nov
This involves a total of 258 train car sets, of which 78 are of 250km/h speed and 180 are of 350km/h speed (higher value)
We believe the potential market size for aluminium alloy extrusion profile suppliers may amount to ~CNY715.5m
Midas could possibly secure ~CNY325-380m of contracts from its customers from this procurement exercise in late Dec or early Jan next year, based on our estimates
We raise our FY13 revenue and PATMI forecast by 11.0% and 27.0%, respectively
While our projection for Midas? FY14 revenue is bumped up by 9.7%, we keep our earnings estimate intact due to a lower gross margin assumption

Rolling forward our valuations to 1.3x FY14F P/B, we increase our fair value estimate marginally from S$0.65 to S$0.67

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19-Nov-2013 08:42

OUE / OUE LTD worth buying for long term

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SGX must have put in controls to prevent you from copy the links & announcements........I noticed that the links copied cannot be opened & the announcement comes out all rojak...

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19-Nov-2013 08:29

OUE / OUE LTD worth buying for long term

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Yes ..........see today SGX announcement 1 & 2...... early bird catch the worms.........Huat arh!

http://infopub.sgx.com/FileOpen/Despatch_of_Circular_Announcement.ashx?App=Announcement& FileID=264991

triphopper ( Date: 19-Nov-2013 08:17) Posted:

the proposed declaration of a distribution in specie of the stapled securities in OUE Hospitality Trust (the ?OUE H-Trust Stapled Securities?) held by the Company (the ?Company-held OUE H-Trust Stapled Securities?), to Shareholders on the basis of 1 Company-held OUE HTrust Stapled Security for every 6 Shares

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19-Nov-2013 08:22

OUE / OUE LTD worth buying for long term

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Copy & paste always come out rojak ....hope this one ok.....

2. THE PROPOSED DISTRIBUTION IN SPECIE OF STAPLED SECURITIES IN OUE HOSPITALITY TRUST TO THE SHAREHOLDERS OF OUE LIMITED

That subject to and contingent upon the passing of Ordinary Resolution 1:

(i) a distribution in specie of the stapled securities in OUE Hospitality Trust held by the Company be declared and distributed to shareholders of the Company after the Proposed Disposal is completed, subject to the terms and in the manner described in the Company?s circular to shareholders dated 19 November 2013 and

(ii) the Company and any director of the Company be and are hereby severally authorised to do all such acts and things as they may consider necessary, desirable or expedient for the purpose of giving effect to the Proposed Distribution In Specie by the Company and/or the transactions contemplated under this resolution, including without limitation to the foregoing, to negotiate, sign, execute and deliver all documents, approve any amendments, alterations or modifications to any document (if required).

WanSiTong ( Date: 19-Nov-2013 08:15) Posted:

　

2. THE PROPOSED DISTRIBUTION IN SPECIE OF STAPLED SECURITIES IN OUE HOSPITALITY TRUST TO THE SHAREHOLDERS OF OUE LIMITED
That subject to and contingent upon the passing of Ordinary Resolution 1:
(i) a distribution
(ii) the Company and any director of the Company be and are hereby severally authorised to do all such acts and things as they may consider necessary, desirable or expedient for the purpose of giving effect to the Proposed Distribution

in specie of the stapled securities in OUE Hospitality Trust held by the Company be declared and distributed to shareholders of the Company after the Proposed Disposal is completed, subject to the terms and in the manner described in the Company?s circular to shareholders dated 19 November 2013 andIn Specie by the Company and/or the transactions contemplated under this resolution, including without limitation to the foregoing, to negotiate, sign, execute and deliver all documents, approve any amendments, alterations or modifications to any document (if required).

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19-Nov-2013 08:15

OUE / OUE LTD worth buying for long term

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2. THE PROPOSED DISTRIBUTION IN SPECIE OF STAPLED SECURITIES IN OUE HOSPITALITY TRUST TO THE SHAREHOLDERS OF OUE LIMITED

That subject to and contingent upon the passing of Ordinary Resolution 1:

(i) a distribution

in specie of the stapled securities in OUE Hospitality Trust held by the Company be declared and distributed to shareholders of the Company after the Proposed Disposal is completed, subject to the terms and in the manner described in the Company?s circular to shareholders dated 19 November 2013 andIn Specie by the Company and/or the transactions contemplated under this resolution, including without limitation to the foregoing, to negotiate, sign, execute and deliver all documents, approve any amendments, alterations or modifications to any document (if required).

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19-Nov-2013 08:12

OUE / OUE LTD worth buying for long term

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NOTICE OF EXTRAORDINARY GENERAL MEETINGthat an EXTRAORDINARY GENERAL MEETING of OUE Limited (the " Company" ) will be held at 10.00 a.m. on 4 December 2013 at Mandarin Orchard Singapore, Mandarin Ballroom III, 6th Floor, Main Tower, 333 Orchard Road, Singapore 238867 for the purpose of considering and, if thought fit, passing (with or without modification) the following Ordinary Resolutions:

ORDINARY RESOLUTION

1. THE PROPOSED DISPOSAL OF THE OUE BAYFRONT PROPERTY TO OUE COMMERCIAL REAL ESTATE INVESTMENT TRUST

That:

(i) approval be and is hereby given for the proposed disposal of the property located at Collyer Quay in Singapore?s central business district comprising (i) OUE Bayfront, an 18-storey premium office building with rooftop restaurant premises located at 50 Collyer Quay, which is complemented by retail facilities at its ancillary properties, namely (ii) OUE Tower, a conserved tower building located at 60 Collyer Quay and (iii) OUE Link, a link bridge located at 62 Collyer Quay with retail units, together with the plant and equipment therein (collectively, the "

(ii) approval be and is hereby given for the payment of all fees and expenses relating to the Proposed Disposal

(iii) approval be and is hereby given for the entry by the Company (whether directly or indirectly through its subsidiaries) into all agreements and transactions in connection with the Proposed Disposal and all ancillary agreements contemplated thereby or incidental thereto, or which are necessary to give effect to the Proposed Disposal and

(iv) the Company and any director of the Company be and are hereby severally authorised to do all such acts and things as they may consider necessary, desirable or expedient for the purpose of giving effect to the Proposed Disposal by the Company and/or the transactions contemplated under this resolution, including without limitation to the foregoing, to negotiate, sign, execute and deliver all documents, approve any amendments, alterations or modifications to any document (if required).OUE Bayfront Property" ) to a proposed real estate investment trust to be known as OUE Commercial Real Estate Investment Trust (the " Proposed Disposal" ) by the Company on the terms and conditions set out in the property sale and purchase agreement to be entered into between the Company and DBS Trustee Limited, in its capacity as trustee of OUE Commercial Real Estate Investment Trust, for the Proposed Disposal

ORDINARY RESOLUTION

2. THE PROPOSED DISTRIBUTION IN SPECIE OF STAPLED SECURITIES IN OUE HOSPITALITY TRUST TO THE SHAREHOLDERS OF OUE LIMITED

That subject to and contingent upon the passing of Ordinary Resolution 1:

(i) a distribution

(ii) the Company and any director of the Company be and are hereby severally authorised to do all such acts and things as they may consider necessary, desirable or expedient for the purpose of giving effect to the Proposed Distribution in specie of the stapled securities in OUE Hospitality Trust held by the Company be declared and distributed to shareholders of the Company after the Proposed Disposal is completed, subject to the terms and in the manner described in the Company?s circular to shareholders dated 19 November 2013 andIn Specie by the Company and/or the transactions contemplated under this resolution, including without limitation to the foregoing, to negotiate, sign, execute and deliver all documents, approve any amendments, alterations or modifications to any document (if required).

NOTICE IS HEREBY GIVEN

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19-Nov-2013 07:51

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Most U.S. Stocks Decline After Dow Briefly Reaches 16,000

Most U.S. stocks fell after the Dow Jones Industrial Average rose above 16,000 for the first time, spurring concern that equities have risen too far, too fast.

Consumer companies and commodity stocks led the retreat. Microsoft Corp. (MSFT) slid 1.7 percent after Bank of America Corp. cut its rating to underperform from neutral. Tyson Foods Inc., the largest U.S. meat processor, advanced 2.3 percent after reporting revenue above analysts? estimates on a gain in prices and sales volumes for beef and chicken

The Standard & Poor?s 500 Index (SPX) slipped 0.4 percent to 1,791.53 at 4 p.m. in New York. Earlier, it topped 1,800. About three stocks fell for each that rose in the gauge. The Dow average gained 14.32 points, or 0.1 percent, to 15,976.02. About 6 billion shares changed hands on U.S. exchanges, in line with the three-month average.

?We?ve moved pretty far pretty fast,? Kevin Caron, a Florham Park, New Jersey-based market strategist at Stifel Nicolaus & Co., which oversees about $150 billion. ?Obviously there?s a potential for a little bit of a pullback.?

While four years of earnings growth and the Federal Reserve?s near-zero interest rate have led the S& P 500 on a 165 percent rally since March 2009, they have also driven valuations to a three-year high. Billionaire investor Carl Icahn, speaking at the Reuters Global Investment Outlook Summit, said he is ?very cautious? on equities.

The S& P 500 trades at 17 times reported operating profit, a 20 percent increase from the beginning of 2013, according to data compiled by Bloomberg. Last week, the benchmark?s valuation reached the highest level since May 2010.

Continued Stimulus

?As we keep going and making new highs, we get into new territory and the air keeps getting thinner and thinner up here,? Tim Hartzell, who helps manage about $425 million as chief investment officer at Sequent Asset Management, said via phone from Houston. ?Everybody is watching Yellen and feel comfortable that she?ll continue QE, maybe even put more into the system.?

U.S. stocks have risen for the past six weeks, reaching all-time highs as Janet Yellen signaled she will continue stimulus efforts as the central bank?s chairman. New York Federal Reserve Bank President William C. Dudley today said he?s ?getting more hopeful? the U.S. economy is gaining strength as the drag from fiscal policy wanes. The central bank?s monetary policy is likely to be accommodative for a long time, he said.

China Reform

The policy-setting Federal Open Market Committee is buying $85 billion of bonds every month and won?t taper its purchases until its March 18-19 meeting, according to the median estimate of 32 economists surveyed by Bloomberg News Nov. 8.

China?s leaders vowed to allow more private investment in state-controlled industries and expand farmers? land rights as part of the ruling Communist Party?s biggest package of economic reforms since the 1990s. Chinese stocks rose, with the benchmark index for mainland companies in Hong Kong surging the most since December 2011.

?To the extent that these reforms might lead to some higher estimates of growth in the coming years, that would be welcomed by investors,? John Carey, a portfolio manager at Pioneer Investment Management, which oversees $20 billion.

The Chicago Board Options Exchange Volatility Index (VIX), the gauge of S& P 500 options known as the VIX, rose 7.5 percent to 13.10. It has fallen 27 percent this year.

Investors this week will scrutinize minutes of the Federal Open Market Committee from its Oct. 29-20 meeting and public remarks by Fed officials. The minutes are set to be released on Nov. 20. Fed Chairman Ben Bernanke is due to speak tomorrow, while Fed Bank of St. Louis President James Bullard will deliver a speech on Nov. 20.

?This week is crucial, there is a lot of Fed speak,? Quincy Krosby, a market strategist for Newark, New Jersey-based Prudential Financial Inc., which oversees more than $1 trillion, said by telephone. ?Investors want to get a little bit more color and atmospherics from the minutes.?

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19-Nov-2013 07:41

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Dow can't hold on to 16,000

dow final

Click the chart for more stock market data.

The Dow Jones industrial average topped 16,000 for the first time ever Monday, while the S& P 500 briefly surpassed 1,800. But neither indexes closed above those milestones.

The Dow rose to an all-time high of 16,040.20 but pulled back as the day wore on. The S& P 500 rose to a record of 1,802.37 but finished the day lower.

The Nasdaq fell 1% Monday, but it too is on the verge of a milestone. The tech-heavy index is nearing 4,000, a level it hasn't hit since September 2000 -- just months after the tech market collapsed.

Stocks lost momentum in afternoon trading after Carl Icahn said he is " very cautious" on the stock market going forward. Speaking at the Reuters Global Investment Outlook summit, the billionaire activist investor said he could see a " big drop" in stocks. Icahn blamed earnings for his downbeat outlook, nothing that companies are boosting profits thanks to low borrowing costs instead of strong management.

Still, the Dow and S& P 500 are up more than 20% so far in 2013.

Experts say that this year's roaring bull market is due largely to stimulative monetary policies from the Federal Reserve as well as decent corporate earnings.

Investors will be keeping a close eye on the Fed in particular during the coming months. Current Fed chairman Ben Bernanke, the architect of the central bank's bond purchase program, will leave that role when his term expires at the end of January. Bernanke is likely to be replaced by Fed vice chair Janet Yellen, who just needs to be confirmed by the Senate.

The market has been encouraged by comments from Yellen during her Senate confirmation hearing last week about how the Fed's policies, particularly the $85-billion-per-month bond-buying program, can continue to help the market and economy.

But ultimately, Yellen is expected to scale back, or taper, the bond buying program at some point next year, raising questions about how much longer the nearly 5-year old bull market can last. In fact, there are some traders who think it's possible the Fed could announce it will begin tapering following its next policy meeting in December.

StockTwits user Learnstocks101 quipped, " $SPY What happens if Ben yells 'taper' in a crowded bull market?"

When Bernanke first hinted at tapering in May, the S& P 500 tumbled 6% over the subsequent four weeks. But stocks have since rallied back.

" $SPY, The only fear in this market is the fear to actually sell a stock and miss out on the greed," noted Hoyasparanoia. " Dangerous!"

Related: What will keep the rally going?

Are stocks overvalued? The big gains in stocks have also raised concerns about whether stocks may be in a bubble.

According to FactSet, the S& P 500 is trading at 15 times earnings expectations for the next 12 months. That puts the valuation of the stock market slightly above its 5-year and 10-year average.

A slightly different measurement also shows that stocks aren't overvalued. The S& P 500 is trading at 17 times earnings from last year, just slightly above the historical average of 16, according to Bank of America Merrill Lynch. In the bubble days of 2000, the index was trading at nearly 30 times trailing earnings.

Related: Fear & Greed Index: Flirting with Extreme Greed!

Whether or not stocks are in a bubble, experts aren't expecting the robust gains from this year to keep coming.

Historically, when the market has advanced more than 25% in a year, that gain has been followed by a rise of no more than 10% the year after, said William Riegel, head of equity investments at TIAA-CREF.

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19-Nov-2013 07:37

Straits Times Index / STI to cross 3000 boosted by long-term investors

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World Markets

North and South American markets finished mixed as of the most recent closing prices. The IPC gained 1.80% and the Bovespa rose 1.60%. The S& P 500 lost 0.37%.

North and South American Indexes

Index	Country	Change	% Change	Level	Last Update
Dow Jones Industrial Average	United States	+14.32	+0.09%	15,976.02	4:33pm ET
S& P 500 Index	United States	-6.65	-0.37%	1,791.53	4:33pm ET
Brazil Bovespa Stock Index	Brazil	+855.44	+1.60%	54,307.04	6:01pm ET
Canada S& P/TSX 60	Canada	-1.24	-0.16%	776.05	4:20pm ET
Santiago Index IPSA	Chile	+37.12	+1.15%	3,260.56	2:58pm ET
IPC	Mexico	+727.41	+1.80%	41,034.11	Nov 15

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18-Nov-2013 22:53

Straits Times Index / STI to cross 3000 boosted by long-term investors

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My Market View
The views expressed here by the contributor does not belong to ShareJunction.

Straits Times Index in symmetrical triangle f...

Contributed by Jay Chia

18-Nov

Straits Times Index in symmetrical triangle formation.

It was a week of ups and downs for Straits Times Index as a mixed stream of good and bad news happened during the week. The week started with a slight rebound which helped STI to recover above 3180 level again. But this rebound was short-lived as the market reacts to the worries of possible changes in the economic situation in China. This lead to further falls on Wednesday as China and Hong Kong market went into deep red. However, over the night, reports were flying off-shelves that Dr Yellen, the possible upcoming Fed chief, will prefer to keep the current economic package intact. This lifted the worries of future tapering of the economic policy and sent regional markets rebounding. STI was able to be able above 3180 level after hitting a low of 3163 level on Wednesday. On the last day of the week, the rebound continues and STI faced resistance at 3200 level. Eventually, STI closed the week at 3201 level with 24.02pts up for the week. Will STI be able to break 3200 resistance level and head higher this week? Or will the bullish momentum starts to ease off again?

Let?s look at the chart to find out the answer.

Trend: Uptrend, 20ma flat, MacD slightly above 0.

Support: 3180(50 & 100ma), 3150, 3130

Resistance: 3200(20ma), 3230 (200ma), 3260, 3280

Observations:

Candlestick ?White candle.

Histogram ? 2 Gs. No divergence signal.

RSI ? At 47.8%. No divergence signal.

Stochastic ? At 62.2%. No bearish crossover.

Bollinger Band ? Testing mid band. Band contracting and pinching.

Conclusion:

Last week?s price movement for STI had shed new light to the way of looking at STI?s direction. The retracement action and rebound action by STI had formed higher low formation which can direct STI to start an uptrend momentum. However, as there was lower highs for the past months, STI could also be risking forming downtrend. Under closer observation, one can identify that STI is probably forming a symmetrical triangle formation. This formation indicates that the market is mixed and directionless. Breaking out of either direction can lead to a strong and sustainable trend. Therefore, it is important to take both directions? considerations right now.

The mid-term indicators were showing mixed direction which further confirms the symmetrical triangle?s formation. 20ma line was trading flat while MacD line was close to 0. The swing of the RSI between the lower and upper band is also another characteristic of a triangle formation. It is hard to conclude which mid-term momentum that STI will take based on these readings. Short-term indicators might be able to give cleared signs. Due to the last few days? rebound, it is clear to see that the Stochastic and Histogram are showing bullishness and will likely to continue. There is still no signs of overbought yesterday and this might lead to further upside movement during the start of the week.

With expected bullish start for this week, let?s identify the resistance levels that STI will face. Currently, STI is facing 3200 level which confluences with the 20ma line. This resistance level had prevented STI from going higher last Friday and it might remain intact till this week. In order for STI to maintain its integrity of triangle formation, a break of this resistance level is required for this week. If this happens, STI will be hovering towards the upper line of the triangle. The estimated level for the upper line will be 3220 level. Breaking the upper line will lead to the breakout of the triangle and it can imply a formation of uptrend. Breaking next resistance at 3230 level will further confirm STI?s uptrend and this will likely to lead to a more sustainable uptrend formation.

However, if STI fails to break the upper triangle line, it can lead to formation for a downward trend movement. If STI breaks 3180 level this time round again, it will mean that STI will be forming a downtrend instead. This downtrend can lead to further selling pressure which can erase off the whole year of gains that STI had achieved. Therefore, it is crucial for STI to hold above 3180 currently in order to maintain the integrity of the uptrend movement.

Henceforth, it will be an important week for STI currently. STI is now nearing the edge of the triangle and will be able to draw decisive conclusion soon. The odds are currently skewed to the bullish side as the short-term indicators are indicating a bullish start for the week. The key will be watching for both 3220 and 3230 levels are they will determine and confirm the uptrend momentum for STI. Failing to break 3220 level will lead to risk of downtrend formation. Breaking 3180 level will confirm the downtrend formation for STI which might lead to further losses. Therefore, bullish traders should start praying and hope that the upside resistance will be broken this week.

What to watch out for this week:

1) Testing of 3230 resistance level

2) Breaking of 3230 resistance level

3) Testing of 3180 support level.

4) Breaking of 3180 support level.

Trading strategy to adapt right now:

- Long traders hold on to their long positions and add when there is confirmation.

- Shortists should stay sidelines.

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18-Nov-2013 22:50

Straits Times Index / STI to cross 3000 boosted by long-term investors

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S& P 500 Exceeds 1,800 for First Time Amid Global Rally

By Alexis Xydias & Nick Taborek - Nov 18, 2013 10:34 PM

U.S. stocks rose, sending the Standard & Poor?s 500 Index above 1,800 for the first time, as global equities rallied after China pledged to expand economic freedoms.

The S& P 500 climbed 0.2 percent to 1,801.09 at 9:32 a.m. in New York. Stocks rose for the sixth week to a record after Janet Yellen signaled she will continue Federal Reserve stimulus efforts as the central bank?s chairman. The Dow Jones Industrial Average added 54 points, or 0.3 percent, to 16,015.96.

?There is room here to take profits from this bullish trend,? Arnaud Scarpaci, who helps oversee about $270 million at Montaigne Capital in Paris, said by phone today. ?As we head towards the end of the year and next year?s debt-ceiling debate, I expect volatility to start rising. I am very cautious about the beginning of next year.?

China?s leaders vowed to allow more private investment in state-controlled industries and expand farmers? land rights as part of the ruling Communist Party?s biggest package of economic reforms since the 1990s. New York Federal Reserve Bank President William C. Dudley and Philadelphia Fed Bank President Charles Plosser are scheduled to speak today. The Fed?s decision to maintain the pace of stimulus has helped the S& P 500 jump 26 percent this year.

China?s stocks rose today, with the benchmark index for mainland companies in Hong Kong surging the most since December 2011. The Stoxx Europe 600 Index rose 0.5 percent.

?We believe China is on the cusp of a massive multiyear bull run,? Christie Ju, managing director at Jefferies Group LLC in Hong Kong, wrote in a note to clients.

While four years of earnings growth and the Federal Reserve?s near-zero interest rate have led the S& P 500 on a 166 percent rally since March 2009, they have also driven up valuations just as the bull market approaches the end of its fifth year.

Cheap is converging with expensive in the American equity market, narrowing options for investors looking for bargains after the broadest rally on record lifted almost 90 percent of the S& P 500 this year. A measure of the dispersion of price-earnings ratios in the S& P 500 compiled by Goldman Sachs Group Inc. narrowed to 41 percent in June, the lowest on record, and held around that level since.

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18-Nov-2013 21:43

CapitaMalls Asia / First Day trading open at $2.30

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Citi's top picks include Keppel Corp Ltd, Keppel Land Ltd, Wilmar International Ltd, CapitaMalls Asia Ltd and DBS Group Holdings.

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18-Nov-2013 14:34

SPH / SPH

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Singapore Press Holdings ST: as long as 4.18 is support look for 4.38

Trading Central | 2013-11-17 23:46:00

Alternative scenario: the downside breakout of 4.18 would call for 4.1 and 4.06.

4.18 is our pivot point.

Our preference: as long as 4.18 is support look for 4.38.

Alternative scenario: below 4.18, expect 4.1 and 4.06.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day MA (respectively at 4.24 and 4.15). Singapore Press Holdings is currently trading near its 52 week high reached at 4.49 on 11/04/13.

Supports

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