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Editorial Desk
Editorial Desk | 21 July 2012
By: Xavier Lim
Articles (51) Profile

Disappointment set in and stocks fellas Federal Reserve Chairman Ben Bernanke failed to provide any hints of further quantitative easing. However, asell-off did not materialise as buying interest remained intact as investors’ focus turned from Bernanke to corporate earnings.

Slowdowns in Europe, the US and China have forced 18 central banks to reduce theirinterest rates in the first half of the year. The European Central Bank slashed its interest rates to a record low on 5 July, while the Chinese central bank surprised the market by cutting its benchmark interest rates for the second time in a month.

Meanwhile, the International Monetary Fund (IMF) cut its 2013 global economic growth forecast to 3.9 percent from the 4.1 percent estimate in April. It also warned that the prolonged European debt crisis will slow expansions in the emerging markets and flagged the risk of hard landing in China.

However, the IMF retained the 2012 global economic growth forecast at 3.5 percent on the back of faster-than-projected growths in German and Japanese economies.

Back home, International Enterprise Singapore reported that non-oil domestic exports for June expanded 6.8 percent year on-year. The better-than-expected growth was boosted by both electronics and nonelectronics
exports. On the other hand, new home sales for June, excluding executive condominiums, fell 19.4 percent month-on month to 1,371 units. Notably, new private home sales had already fallen 31.6 percent in May from April. Property experts said that the sales decline could be good news as it might take some pressure off additional government measures. As for our cover story this issue, we take a closer look at the growth prospects of StarHub.

As more and more people areusing smartphones to browse the Internet and watch videos, the second-largest phone company in Singapore is working to roll out the fourth-generation network in the central business district. Find out what analysts have to say on the company on page 6.

Next, we have a well respected stock market and wealth educator Marcus De Maria sharing with us his views and recommendations on the current commodity market situation and what traders should look out for.Turn to page 10 to find out more.

Happy reading!

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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