Investors could expect the risk-on sentiment to spill over into Singapore shares today, after the disappointing jobs report in US last Friday sparked an overnight rally, with investors betting that the Fed will move slower in raising interest rates.
Regional bourses are trading mixed this morning in Tokyo (-0.2%) and Seoul (+0.3%).
Notably, the STI is just 2 points away from its 5-year high (3,454). A break above may portend to further upside towards the all-time high of 3,875 in Oct '07.
Stocks to watch:
*Palm Oil: Futures rose on Monday to its highest level in more than three weeks, aided by rising crude oil and firm US soyoil prices, and after Indonesia unveiled plans to impose export levies to fund biodiesel subsidies.
*Oil counters: Expected to continue their positive momentum, in tandem with the spike in crude oil prices, following Saudi Arabia’s latest move to raise oil prices to Asia.
*Property: Undervalued property developers may stay in focus fuelled by the on-going privatisation theme. Counters include UIC, Great Eastern, Wheelock Properties, Wing Tai, Ho Bee and Hong Fok. REITs previously touted as privatisation candidates include CapitaRetail China Trust, CDL Hospitality Trust and Saizen REIT.
*Jiutian Chemical: Auditor Baker Tilly TFW issued an emphasis of matter, highlighting that the group's current liabilities exceeded its current assets by Rmb150.8m and indicates a material uncertainty that may cast significant doubt on the group's ability to continue as a going concern.
*Frasers Centrepoint: 313 of 430 units from the soft-launch of its 920-unit North Park Residences held on Sunday have been sold, with Singaporeans accounting for 88% of buyers. Phase 1 units were released at an average $1,300 psf.
*Trek 2000: Clinches second contract with Rely/Mattel China worth US$50m, for the supply of Wi-Fi memory modules for children’s educational interactive devices.
*RH Petrogas: Latest qualified person's report shows 2P reserves of 19.9mmboe, up from 11.9mmboe last year, due to recognition of Fuyu 1 Block.
*Triyards: 2QFY15 net profit dipped 34% y/y to US$5.1m, on revenue of US$61.1m (-18%), dragged by the absence of significant contribution from the Lewek Constellation and three self-elevating units which were either delivered or at final completion stage, but partially offset by new contribution from its new acquisition, SM Group, and certain industrial and offshore fabrication projects. Operating expenses spiked 122% due to acquisition costs. NAV/share at US$0.6024.
*Triyards: Secured new contracts worth US$100m for a liftboat, a high speed aluminum craft project including integrated logistics support work and a fabrication project.
*Resources Prima: Expects lower waste mining rate due to cost reduction programme from May 2015 onwards.
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