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Editorial Desk
Editorial Desk | 23 November 2012
By: Xavier Lim
Articles (51) Profile

Sparked by continued optimism that the leaders in Congress will reach a compromise with the US President to avoid pushing the US economy off the “fiscal cliff”, global stock market indices moved higher.

The Japan’s Nikkei 225 index rallied to a six-month high, mainly attributable to a weakening yen. Speculation that Japan’s main opposition party will win next month’s election and push for greater monetary easing also added to the bullish momentum.

Elsewhere, oil prices rose to a one-month high as tensions in the Middle East stoked supply fears and a weaker dollar further stirred buying interest for oil futures.

Meanwhile, the euro fell to US$1.2748 against the US dollar immediately after the Eurozone finance ministers failed to strike a deal to unblock bailout funds needed to keep Greece from the bay of bankruptcy. Nevertheless, they planned to meet again on 26 November 12 to continue the discussions.

On the corporate front, the takeover battle for Fraser & Neave continues to draw strong attention from traders and speculators. Overseas Union Enterprise made its offer to acquire Fraser & Neave at $9.08 a share, beating Thai billionaire Charoen Sirivadhanabhakdi’s offer of $8.88 a share. To read more on this, flip no more to our cover story this issue on page 6.

At the same time, we take a closer look at TEE International as the group proposed to spin-off its integrated real estate segment and list it on the Main Board of the Singapore Stock Exchange. In addition, TEE International has also made its first foray into Myanmar’s cement industry. Turn to page 10 to read about its management’s views on the proposed integrated real estate listing and Myanmar venture.

Next, we explore on how the 18th Century’s ‘Sinking Fund’ concept could possibly help the US to resolve the “fiscal cliff”. Details are from page 14.

Given so many uncertainties hanging over the US’ “fiscal cliff” and the ongoing Eurozone debt crisis, volatility is here to stay.

Invest with care!

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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