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Finally, QE3! But How Long Will This Rally Last?
Singapore Market Commentary | 14 September 2012
Related stocks:
F99
NR7
G13

So, Professor Chan’s much sought after, Quantitative Easing Part III is here! Federal Reserve Chairman, Ben Bernanke said that in doing so, the central bank hopes to boost growth and reduce unemployment. But, as many skeptics point out, how much of this has already been priced into the market?

Back in the Europe hot seat, European central banker, Mario Draghi also announced an unlimited European bond buying programme which was almost immediately undermined by unwilling parties in both Spain and Italy to subscribe to. In essence, it seemed that even if there was a bitter pill to swallow, the Europeans might just end up not taking the prescription.

In Asia, China continued on its worrying growth decline as import figures fell 2.6% in August, signaling further cooling of the Chinese economy. Back in Singapore, private sector economists saw further gloom in gross domestic product growth as they lowered the median GDP growth forecast to 2.4% from 3% in May.

The Fraser and Neave saga seems to have taken another twist as substantial shareholder, Thai Beverage mounted a $9b effort to take control of the company, raising doubts about the Asia Pacific Breweries-Heineken deal. Separately, Oei Hong Leong sparked a large jump in Raffles Education’s share price after he increased his stake, taking it above the substantial threshold.

An out-of-favour Genting Singapore seemed to be in the negative news spin of late, as it received a record single fine of $600k for flouting casino regulations here. And finally in potential listing news, RB Capital said that it intends to list a hospitality trust on the SGX after two relatively successful listing of similar trust funds.

All in all, it has been a relatively frantic week for news agencies and investors. Remember, when it comes to stocks, always think and see before you leap. You would not want to be like Wile E. Coyote in Looney Tune’s The Road Runner, would you?

Fraser & Neave  1.770 -0.010 -0.56%   
Business: [FY18 Turnover] Dairies (60%), beverages (25.4%), printing & publishing (14.6%).

Insight: Nov-18, FY18 revenue increased 1.5% to $1.9b due t... Read More
Raffles Education Corp  0.087 +0.005 +6.10%   
Business: Co is the largest private education group in Asia-Pacific. [FY18 Turnover] Education (81.6%), education facilities rental service (13.6%), real estate investment (4.8%).

Insight: Feb-19, 1H19 revenue fell marginally by 0.3% to $4... Read More
Genting Singapore  1.020 -0.010 -0.97%   
Business: Develops, operates & mkts casinos & IRs globally, including Australia, M'sia, Philippines & UK. [FY18 Turnover] Gaming (66.1%), non-gaming (33.8%), others & invs (0.1%).

Insight: Feb-19, FY18 revenue rose 6.1% as both the gaming ... Read More


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