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STI’s 2014 Bulls & Bears
Featured, Perspective | 09 January 2015
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By: Peter Ng
Articles (81) Profile
By: Tan Jia Hui
Articles (82) Profile

1H14

  1. US Fed began to taper quantitative easing (QE).
  2. Upward revision of Singapore’s 2013 gross domestic product (GDP) growth to 4.1%, from advanced estimates of 3.7%. 4Q13 GDP expanded 5.5% y-o-y due to a surge in manufacturing output, beating consensus estimates of 5.2%.
  3. Hawkish comments by the US Fed to raise interest rates sooner than expected echoed fears in the market.
  4. Tension arose between Russia and Ukraine amid Russia’s move of seizing Crimea from Ukraine.
  5. Heightened M&A activities in Singapore with notable deals such as the privatisation of Goodpack and CapitaMalls Asia.
  6. Flattish and quiet market as market braced for the World Cup fever.
  7. Oil prices surged to US$116 per barrel after former al-Qaeda organisation, ISIS, threatened to topple the Baghdad government.
  8. European Central Bank cut interest rates on deposit facilities to below 0 and instated a EUR400b lending programme.

2H14

  1. US Fed concluded its 6-year QE programme on 29 Oct-14, but hinted that rate hikes will likely come in from 2Q15, which helped to maintain investors’ bullish sentiments.
  2. US and Europe imposed broader sanctions on Russia over its support of Ukraine rebels. Geopolitical tensions in Ukraine and Russia and their possible impact sent shockwaves throughout the markets.
  3. Renewed fears over the crisis in Iraq as ISIS advanced into several territories in Iraq since June.
  4. Rapid decline of crude oil prices, on the back of weaker China economic data. Investors worried for an earlier than expected rate hike by the Fed.
  5. US Fed concluded its 6-year QE programme on 29 Oct-14, but hinted that rate hikes will likely come in from 2Q15, which helped to maintain investors’ bullish sentiments.
  6. US unemployment rate fell to 5.8% in Oct-14, the lowest level in 6 years.
  7. Local banks exhibited robust 3Q14 performances, on positive earnings reports and major share buybacks.
  8. Companies with oil inputs rallied on the back of lower fuel prices, such as transport operators, Singapore Airlines, SBS Transit and ComfortDelGro Corporation.
  9. Oil prices sank to 5-year low, due to a possible supply glut and OPEC’s refusal to cut oil production.
  10. US reported 5% expansion in 3Q14 GDP, strongest GDP growth since 3Q03. Dow Jones Industrial Average closed above 18,000 for the first time in history.
This is a co-written article of Shares Investment, which lays out the analytical ideas and thoughts of the authors, who are well versed in investments and market concepts.

Singapore Airlines  9.040 -0.13 -1.42%   
Business: Co provides air transportation services to destinations spanning a network spread over 6 continents. [FY19 Turnover] SIA (80%), Budget Aviation (10.5%), SilkAir (6.2%), SIAEC (3.1%), others (0.2%).

Insight: May-19, FY19 revenue edged up 3.3% to $16.3b. Pass... Read More
SBS Transit  4.200 +0.13 +3.19%   
Business: Public transport operator in S'pore. [FY18 Turnover] Public transport svcs (95.8%), other commercial svcs (4.2%).

Insight: Feb-19, FY18 revenue jumped 16.1% to $1.4b mainly ... Read More
ComfortDelGro Corp  2.410 -0.02 -0.82%   
Business: [FY18 Turnover] Public transport services (71.2%), taxi (19.1%), others (9.7%).

Insight: May-19, 1Q19 revenue rose 7.8% to $947.3m, underpi... Read More


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