Cory Diary : The Law of Growth – Population

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Singapore Population growth has seen some increase prior to the last election. Since then we have seen a more gradual growth. I would say outcome of the last election result in securing the 70% votes.I personally have been a proponent of quality of life rather than GDP growth. But is when the growth starts to slow down and stock market of local dependent economy starts to pinch that we start to … [Read more...]

Singapore Semiconductor Stocks Riding the Cyclical Upturn

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Global semiconductor industry is in a cyclical up-cycle, driven by Internet of Things (IoT) and mobile devices. Strong growth in electronics and precision engineering clusters likely to provide support to Sinapore’s economy in 2017. The 12 semiconductor SGX-listed stocks, riding on the strong near-term momentum in the industry, generated an average total return of 65.7% in the year-to-date, … [Read more...]

5 reasons why Moody’s has downgraded China for the first time in nearly 30 years

For the first time since 1989, Moody’s Investors Service has downgraded China’s long-term local currency and foreign currency issuer ratings to “A1” from “Aa3”, on expectations that the republic’s financial strength will erode somewhat over the coming years due to rising economy-wide debt as potential slows. China’s local currency bond and deposit ceilings, as well as the foreign currency bond … [Read more...]

STI Developers (HK Land, CapitaLand, GLP, CDL, UOL) average 23% YTD Gain

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The STI’s five Real Estate Developer & Operator stocks are Hongkong Land Holdings, CapitaLand, Global Logistic Properties, City Developments and UOL Group. Together the five stocks have averaged a 23% total return in the 2017 YTD. The majority of these returns occurred earlier in the year, amidst the global rotation from Emerging Markets to Developing Markets, and the Singapore Government … [Read more...]

The Everything Bubble?

Honestly, I like Mike Maloney a lot. Quite a number of people think he's a shill and just goes on about tin foil hat precious metals stuff so that people will buy his book. I don't think that's true. He has time after time given away his book away at heavily discounts, or even for free. And to be fair, he book is 4.6 stars on Amazon and considered as the only proper book for precious metals … [Read more...]

Ernest’s market opinion (19 May 17)

Dear all Below is my personal opinion on the market. As previously mentioned to my clients, I aim to reduce my percentage invested in stocks (currently around 130% invested), especially the non-performing stocks, with no immediate near term catalysts. I am cautious on the market in the next 1-2 months because a) The large market run up year to date. STI has appreciated approximately 12% YTD … [Read more...]

Emerging Technologies to Boost Opportunities for SGX’s EMS Providers

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Emerging Technologies seen driving global Electronics Manufacturing Services (EMS) industry’s 6.2% CAGR from 2015-2020. In recent years, SGX-listed EMS providers are diversifying their businesses away from traditional Technologies into emerging Technologies. Focus on emerging Technologies (e.g. Medical Technology, Life Sciences, Automotive Electronics) are now bearing fruit. The three … [Read more...]

#03 – Euro after Election

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Decided to hedge on Euro using the Major Pair (EURUSD) Monthly chart indicates an overall bearish trend, where market is currently trading in key levels. Price has been trading in this range since 2015, trying to find a stronger supply of sellers. Spotted a trend reversal on the Weekly chart, as market broke of from the bearish channel with a bullish price action build up. Market making higher … [Read more...]

Heritage & Highlights of the Straits Times Index

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The STI has generated a 14.5% YTD dividend inclusive return, with Yangzijiang Shipbuilding Holdings (which joined the STI in September 2015) the strongest of the 30 STI constituents. The strongest STI Sector in the YTD has been Real Estate Management & Development – with Global Logistic Properties, City Developments, CapitaLand, UOL Group and Hongkong Land Holdings averaging 24.5% total … [Read more...]

STI Analysis

Last March perhaps I was the few bold enough to state STI is on an uptrend (Has STI Bottom ?) and the subsequent 2 postings (What's Next For STI ? and STI Expanding Triangle ?) I maintained that analysis.  So, after 1 year and 2 months, with STI closed 3,249.97 on 9th May 2017, my bold analysis was indeed correct.  The reward for my bold and certain degree of confident analysis then was the … [Read more...]

Why Commodities is in a Sweet Spot to Invest in

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The idea of business cycle investing is simple. Allocate more of your resource based on the different stages of the economy cycle. Invest in stock and property during the recession and early recovery of an economic cycle. Invest in commodities and financial related stock during the growth to stagnancy stage of the economic cycle as inflation and interest rates start to accelerate. The last stage … [Read more...]

Information Technology Stocks Continue to Shine

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Singapore’s Electronics cluster (27.4% of total manufacturing activity) demonstrates strong momentum with its 13th consecutive month of YoY output growth. SGX’s IT Sector is an outperformer in the YTD with total returns of 33.3%, above the STI’s +11.1% and the MSCI Asia ex-Japan IT Index’s +18.4%. Strong earnings outlook likely the key driver of IT Sector’s outperformance. Consensus expects … [Read more...]

MSCI Singapore Index at 18M High with Participation Records

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The MSCI Singapore Index (“SiMSCI Index”) ended yesterday at 358.3, which is a 18 month high and a 27% recovery from its February 2016 low. The SIMSCI Index has delivered a 14% YTD total return and been amongst the leading performers amongst key Asian indices. Half of the SiMSCI Index constituents have recently reported 1Q17 earnings. In addition, a slew of dividend distributions last week have … [Read more...]

China’s Yield Curve Inversion

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What is a yield curve inversion? When shorter tenure bonds have higher yield than long tenure bonds. Why is this a problem? Banks won't lend out money because they wouldn't borrow short term money (typically cheaper, but now more expensive) to lend for the long term (typically higher, to pay back the borrowers + profit for the bank). It's not a difficult concept to grasp. What happened in … [Read more...]

Are times really that bad these days?

recently i spoke to the man on the street, he said "gang kor", hang jeng si bei pai". In english, it means difficult and times are damn bad. I ask him how come. He said everything going up. utility bills up, a cup of kopi at kopitiam also going up and seems like won't come down. his pay appears to be the only thing which stays. "how to survive?" i think times are not good generally. the … [Read more...]

HOW WILL SINGAPORE STOCKS PERFORM NEXT?

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Dear readers, Mr Emmanuel Macron has become the French President, at least the factor of a Le Pen victory has not materialized into the global stocks markets. With Mr Macron’s win, what does it mean for the Singapore stocks markets? What does it mean for global stocks markets as a whole? Also, the geo-political tensions in the Korean Peninsula seems to simmer for now. On the back of all these, … [Read more...]

Can the strength of the ringgit be sustained?

The Malaysian ringgit is turning out to be the best-performing currency in the region, so far this year. This is a sharp reversal of its fortunes, after being heavily sold down in November-December last year. I believe this has much to do with our improved exports and outlook, and in particular Bank Negara’s new ruling (announced in December), which mandates that at least 75% of all export … [Read more...]

FRENCH ELECTIONS: WHAT IT MEANS FOR THE STOCKS MARKETS?

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France goes to the polls today with Emmanuel Macron and Le Pen contesting to win the French Presidential Elections. As what many news and media website will have reported, a Le Pen win might cause the stocks markets and Forex markets to respond more than a Macron win. Many expected Mr Macro to win, but until the results are announced, we are none the wiser. The French Presidential Elections … [Read more...]

India ETFs Grab Spotlight in 2017 Year-to-Date

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SGX lists four Indian equity ETFs, three of which track the MSCI India Index, while the fourth tracks the Nifty 50 Index. They were among the top performing ETFs in the year-to-date, averaging a return of 16.0%. In the year thus far, Indian equity fund inflows have reached US$6.3 billion, second only to Taiwan in Asia. In terms of global fund flows, India was ranked 11th, above key Asian … [Read more...]

Technology Sector Led Market Gains in April & YTD

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Information Technology (IT) was the best performing of Singapore’s Sectors in the 2017 YTD. The IT Sector generated a 4.9% capitalisation weighted total return in April, taking YTD gains to 33.3%. April was the third consecutive month the IT Sector was the best performing. The largest stock of Singapore IT Sector, Venture Corp reported 1Q17 results on Friday, with net profit up 36% YOY to … [Read more...]