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QE Dead On Halloween, Now What?
Singapore Market Commentary | 31 October 2014
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By: Peter Ng
Articles (81) Profile

Quantative Easing, a six-year old stimulus programme broken into three phases, was directed by the US Federal Reserve to keep interest rates at close to zero, has officially concluded on 29 Oct (US time), just in time for Halloween.

While the ghouls and ghosts are not released just yet, at least not until the central bank’s interest rates are to officially rise, however Janet Yellen, chairwoman of the US Fed, spoke in a “hawkish” tone, which some deemed as a hint of an anticipated interest rate hike in Jun-15.

This was on the back of the latest minutes from the Federal Open Market Committee in October, the body within the US Fed which sets the direction of the nation’s monetary policy, concluded that “the US economy has expanded at a moderate pace while the labour market conditions have improved further on solid job gains and a lower unemployment rate.”

On local grounds, the Straits Times Index stood resilient as announcements from the US Fed hardly dented any buying sentiments, where the index continued its way up from a closing price of 3,224.03 on 29 Oct to 3274.25 on 31 Oct.

The index’s resilience could be stamped from the stellar performance registered at the three local banks, namely DBS Group Holdings, United Overseas Bank (UOB) and Oversea-Chinese Banking Corporation, who have reported their third quarter’s scorecard in the same week. UOB came into the spotlight as the bank posted an 18.6% gain in quarterly profit to a record of $866 million.

As the buyers and sellers maintain a prolonged battle, check out what the experts have to say in the SIC 2014 event on pg. 6.

Backed by a strong interest in investments, Peter's research spans across a range of industries, with his focus placed on companies listed on the SGX.

Please click here for more information about this author.

DBS Group Hldgs  24.710 -0.04 -0.16%   
Business: [FY18 Total Income] Institutional banking (43.7%), consumer banking/wealth management (42.9%), treasury markets and others (13.4%).

Insight: Apr-19, 1Q19 net profit rose 9% to a record $1.7b.... Read More
United Overseas Bank  24.990 -0.16 -0.64%   
Business: [FY18 Turnover] Group retail (43.3%), group wholesale (43.2%), global markets & investment management (5.1%), others (8.4%).

Insight: May-19, 1Q19 total income rose 7.8% to $2.4b due t... Read More
Oversea-Chinese Banking Corp  10.690 -0.02 -0.19%   
Business: [FY18 Turnover] Global corporate/investment banking (35%), global consumer/private banking (34.8%), OCBC Wing Hang (11.5%), insurance (11%), global treasury & mkts (7.7%).

Insight: May-19, 1Q19 total income rose 14.7% driven by str... Read More

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