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Editorial Desk
Editorial Desk | 08 June 2012
By: Xavier Lim
Articles (51) Profile

Global stock markets finally received some form of reprieve following recent weeks of heavy selling. Nevertheless, investors’ sentiment remains cautious as they await more clarity regarding the situation in Europe.

Meanwhile, Spain sank deeper into its second recession since 2009 as its industrial production declined 8.2 percent in April from a year ago. Spanish industrial production has been on the decline or flat for 14 months.

At the same time, the European Central Bank (ECB) left its benchmark interest rate unchanged at 1 percent and ECB President Mario Draghi remarked that some ECB members are leaning towards a rate cut. He also expects the Euro area to recover gradually.

On the other hand, the US Treasury 10-year notes soared as investors seek safe haven amid concerns over Eurozone debt crisis, pushing yields down to record lows. Crude oil prices continue its fall to hit around US$85 per barrel as at 5 June on expectations of falling demand.

Over in Australia, its gross domestic product improved 1.3 percent in the first quarter of 2012, and rose 4.3 percent year-on-year, according to the Australian Bureau of Statistics. The data, which doubled expectations, was released after the Reserve Bank of Australia reduced 25 basis points in its key cash rate.

Back home, Singapore’s manufacturing activity reverts to an expansion with a Purchasing Manager Index reading of 50.4 in May, from 49.7 in April as orders and inventories rose. However, the Singapore Institute of Purchasing & Materials Management reported that the sub-indicator for employment contracted for the eleventh straight month.

Despite lingering concerns over the Eurozone debt crisis, Myanmar’s pro-democracy leader Aung San Suu Kyi has caught the attention of many investors and market watchers. This issue, we shall take a closer look at two companies that have vested interests in the rising jewel of South East Asia, Myanmar. Flip to page 6 for more details.

Last but not least, our top five articles that were most read by readers in May are: ‘Genting Singapore: How Are You Lately?’, ‘Some Stocks To Watch Out As Market Falls’, ‘Should We Sell In May And Go Away?’, ‘STI: How Are We Looking This Week?’ and ‘Up Close With Robert Kiyosaki: Bringing The Unfair Advantage Into The Financial World’. Do visit our website, www.sharesinv.com, to read about them.

Armed with an arsenal of investment knowledge, Xavier is the Senior Research Editor at Shares Investment.

Please click here for more information about this author.


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