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Santa Rally Extends Through January
Singapore Market Commentary | 09 January 2015
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By: Peter Ng
Articles (81) Profile

Following a gun attack in Sydney, Australia, that happened slightly more than a week before Christmas in 2014, there was yet another one which occurred in Paris, France, on 8 Jan-15, which left 12 people dead.

France’s president, Francois Hollande, concluded the attack as an act of terrorism. However, the attack was insufficient to deter the market rally as Euro Stoxx 50 Index closed 108.29 points higher at 3,135.08 points on 8 Jan-15. The rally was kindled by hopes that the European Central Bank will provide stimulus to bolster economic activities amid the poor Euro-area consumer price index in Dec-14.

In Asia, with China in focus, the Shanghai Composite Index continued its advance past the “Santa rally” as the index registered a gain in excess of 60% since a year ago. The glow of optimism continued to brighten amid a slightly stronger set of data released from the world’s second largest economy’s HSBC/Markit Services Purchasing Managers’ Index (Dec: 53.4, Nov: 53), where an index above 50 signifies a growth in manufacturing activities.

Back home, the Straits Times Index stood mixed where the index hovered around the 3,350 points region. The weak sentiments were followed after the release of lacklustre US manufacturing data for Dec-14.

On 19 Jan-15, Singapore Exchange is set to reduce the trading lot size to 100 shares from 1,000. Liquidity is expected to flow into the local markets and boost trading volumes, in particular to counters which have been traditionally beyond reach to retail investors.

Meanwhile, mark your calendars as companies are scheduled to release their earnings. Leading the pack are SPH REIT and Singapore Press Holdings who will be releasing theirs on 12 and 13 Jan-15.

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.

SPH REIT  1.130 +0.020 +1.80%   
Business: S'pore-based REIT with a portfolio of assets primarily for retail purposes in Asia-Pacific.

Insight: Apr-19, 1H19 gross revenue rose 4.5% to $111.9m du... Read More
Singapore Press Hldgs  2.140 +0.02 +0.94%   
Business: Co is S'pore's main newspaper & magazines publisher that also has investment in properties. [FY18 Turnover] Media (66.7%), property (24.7%), others (8.6%).

Insight: Apr-19, 1H19 operating revenue fell 3% to $477.6m ... Read More

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