Stock calls for 14 February 2018

Date	Analyst	Company	Last	Target	Call	Valuation
02/14/18	Deutsche	CapitaCommercial	1.74	1.9	Buy
02/14/18	OCBC	Capitaland	3.52	4.26	Buy
02/14/18	UOB Kay Hian	Capitaland	3.52	4.3	Buy	RNAV (15% discount)
02/14/18	Kim Eng	Capitaland	3.52	4.1	Buy	RNAV (25% discount)
02/14/18	CIMB	Capitaland	3.52	4.34	Add	RNAV (20% discount)
02/14/18	DMG & Partners	Capitaland	3.52	4.2	Buy	RNAV (15% discount)
02/14/18	DBS Vickers	Comfortdelgro	2.01	2.12	Hold	DCF & PER
02/14/18	Kim Eng	Comfortdelgro	2.01	2.35	Buy	DCF
02/14/18	OCBC	Comfortdelgro	2.01	2.25	Buy
02/14/18	CIMB	Comfortdelgro	2.01	2.16	Hold	DCF
02/14/18	Lim & Tan	Comfortdelgro	2.01	0	Buy on weakness
02/14/18	DMG & Partners	Comfortdelgro	2.01	2.01	Neutral
02/14/18	phillip	Comfortdelgro	2.01	2.5	Buy	DCF, PER17.4x FY18
02/14/18	phillip	HMI	0.63	0.83	Buy	DCF
02/14/18	UOB Kay Hian	HMI	0.63	0.83	Buy	DCF
02/14/18	Kim Eng	HMI	0.63	0.8	Buy	DCF
02/14/18	Amfrasers	Japan Foods	0.46	0.54	Buy	DCF
02/14/18	Deutsche	Keppel Reit	1.18	1.3	Buy
02/14/18	Deutsche	Mapletree Logistics	1.23	1.35	Buy
02/14/18	CIMB	Religare Health Trust	0.83	0.92	Hold	DDM
02/14/18	Kim Eng	SATS	5.25	6.1	Buy	PER21x FY20
02/14/18	UOB Kay Hian	SATS	5.25	5.9	Buy	DCF, PER25.2x FY18
02/14/18	OCBC	SATS	5.25	5.5	Hold	Buy @ $5.05 or lower
02/14/18	CIMB	SATS	5.25	5.17	Hold	PER20x FY19
02/14/18	phillip	SATS	5.25	5.33	Neutral
02/14/18	DBS Vickers	SATS	5.25	5.67	Buy
02/14/18	phillip	SGX	7.3	8.89	Buy	DCF
02/14/18	CIMB	SIA	10.62	12.05	Add	PB1x CY18
02/14/18	UOB Kay Hian	SIA	10.62	11.9	Buy	PB0.9x
02/14/18	DBS Vickers	SIA	10.62	12	Buy	PB1x FY19

US drone destroys Russian tank.

https://www.reuters.com/article/us-mideast-crisis-usa-syria-tank/u-s-drone-destroys-russian-made-tank-in-syria-idUSKCN1FX2SJ

Putin won't take this lying down and will definitely retaliate.

Russia will battle it out with the USA on Syria land but it will be some minor battle that won't escalate into a full-blown war.

Wow! Goldman Sachs reaffirmed our prediction for 10-year bond yield.

https://realmoney.thestreet.com/articles/02/13/2018/economic-growth-too-strong-market?puc=yahoo&cm_ven=YAHOO&yptr=yahoo

We predicted that Fed's target for 10-year bond yield would be at 3.5% on 9 Feb 2018.

Goldman Sachs is predicting the same 10-year bond yield too.

https://sg-stock.blogspot.sg/2018/02/stock-markets-are-falling-like-crazy_9.html

Maldives' political situation update.

https://www.reuters.com/article/us-maldives-politics/maldives-embattled-president-sends-envoys-to-china-saudi-for-support-idUSKBN1FS1B7

The Maldives sent envoys to China, Pakistan and Saudi for its support of the government's stance on the court ruling.  However, India was excluded from the list of the friendly nations.

The current Maldives president has had enough of India's intervention in its national policies and wanted to foster a better Maldives-China relationship.  Furthermore, the Maldives wants to get involved in the OBR initiatives for its own economic benefits.  The current Maldives president has realized that India only wants to control the Maldives without the intention to develop its economy whereas China is sincere in helping the Maldives to develop infrastructures and economy.

http://abcnews.go.com/International/wireStory/india-china-vie-influence-crisis-unfolds-maldives-52993084

Thus, India and China are vying for political influences in the Maldives now.

China Sky Chemical has dubious financial statement.

http://www.businesstimes.com.sg/companies-markets/china-sky-800m-yuan-loan-to-entity-represented-by-ex-director-not-recorded-in

Another mid-cap China firm listed on SGX is in trouble after Midas.  800m yuan loan was not recorded on its financial statement.

OMG!

http://sg-stock.blogspot.sg/2018/02/midas-assets-are-frozen-in-china.html

The petrol-yuan era is coming! - Part 2

https://www.reuters.com/article/us-china-oil-futures/china-plans-to-launch-crude-oil-futures-on-march-26-securities-regulator-idUSKBN1FT0P2

This posting is an update from our previous post below.

https://sg-stock.blogspot.sg/2018/01/the-petrol-yuan-era-is-coming.html

The oil price had been on a downward trajectory after China indicated the interest to start its own oil trading futures in RMB in Shanghai in January 2018.

The official date has been set for 26 March 2018 and this will definitely affect the international oil market as China is the largest oil importer now.

OUE Hospitality - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/16	DBS Vickers	OUE Hospitality	0.755	0.91	Buy	DCF
01/26/16	Deutsche	OUE Hospitality	0.745	0.8	Hold
01/26/16	OCBC	OUE Hospitality	0.745	0.8	Hold
01/27/16	DMG & Partners	OUE Hospitality	0.75	0.67	Sell	DDM, PB0.74x
02/01/16	Amfrasers	OUE Hospitality	0.73	0.815	Buy
02/25/16	Deutsche	OUE Hospitality	0.74	0.8	Hold
03/07/16	CIMB	OUE Hospitality	0.77	0.77	Hold	DDM
03/08/16	Lim & Tan	OUE Hospitality	0.765	0	Hold	Buy @ $0.7092
03/09/16	CIMB	OUE Hospitality	0.755	0.67	Hold	DDM
03/10/16	OCBC	OUE Hospitality	0.75	0.7	Hold	Ex-Bonus 33 for 100 @ $0.54
03/11/16	Amfrasers	OUE Hospitality	0.75	0.75	Buy	Ex-Bonus 33 for 100 @ $0.54
03/17/16	DMG & Partners	OUE Hospitality	0.685	0.86	Buy	DDM
03/24/16	Deutsche	OUE Hospitality	0.67	0.7	Hold
04/13/16	Credit Suisse	OUE Hospitality	0.67	0.86	Neutral
05/09/16	CIMB	OUE Hospitality	0.675	0.71	Hold	DDM
05/09/16	DBS Vickers	OUE Hospitality	0.675	0.75	Buy
05/09/16	Lim & Tan	OUE Hospitality	0.675	0	Hold
05/09/16	OCBC	OUE Hospitality	0.675	0.67	Hold
05/10/16	Amfrasers	OUE Hospitality	0.67	0.72	Buy
05/10/16	DMG & Partners	OUE Hospitality	0.67	0.75	Buy	DDM
05/17/16	Deutsche	OUE Hospitality	0.66	0.65	Hold
06/22/16	DMG & Partners	OUE Hospitality	0.67	0.86	Buy
07/04/16	DMG & Partners	OUE Hospitality	0.69	0.75	Buy
07/04/16	OCBC	OUE Hospitality	0.69	0.67	Hold
07/26/16	Deutsche	OUE Hospitality	0.72	0.65	Hold
08/02/16	Credit Suisse	OUE Hospitality	0.71	0.78	Neutral
08/02/16	DBS Vickers	OUE Hospitality	0.71	0.75	Buy
08/02/16	Lim & Tan	OUE Hospitality	0.71	0	Hold
08/02/16	OCBC	OUE Hospitality	0.71	0.73	Hold
08/02/16	Religare	OUE Hospitality	0.71	0.74	Hold
08/03/16	CIMB	OUE Hospitality	0.69	0.79	Add	DDM
09/07/16	Credit Suisse	OUE Hospitality	0.685	0.78	Neutral
09/22/16	CIMB	OUE Hospitality	0.66	0.75	Add	DDM
10/18/16	DBS Vickers	OUE Hospitality	0.685	0.75	Buy
11/01/16	CIMB	OUE Hospitality	0.68	0.77	Add	DDM
11/01/16	DBS Vickers	OUE Hospitality	0.68	0.72	Buy	DCF
11/01/16	DMG & Partners	OUE Hospitality	0.68	0.7	Neutral
11/01/16	Lim & Tan	OUE Hospitality	0.68	0	Hold
11/01/16	OCBC	OUE Hospitality	0.68	0.73	Buy
11/16/16	Deutsche	OUE Hospitality	0.64	0.65	Hold
12/05/16	DMG & Partners	OUE Hospitality	0.655	0.7	Neutral
12/07/16	Deutsche	OUE Hospitality	0.65	0.65	Hold
12/16/16	OCBC	OUE Hospitality	0.64	0.73	Buy
01/04/17	OCBC	OUE Hospitality	0.685	0.73	Buy
01/09/17	DBS Vickers	OUE Hospitality	0.68	0.72	Buy	DCF
01/26/17	CIMB	OUE Hospitality	0.685	0.71	Add	DDM
01/26/17	DMG & Partners	OUE Hospitality	0.685	0.7	Neutral	DDM
01/26/17	OCBC	OUE Hospitality	0.685	0.75	Buy
01/27/17	DBS Vickers	OUE Hospitality	0.685	0.75	Buy	DCF
01/31/17	Credit Suisse	OUE Hospitality	0.69	0.78	Neutral
02/08/17	OCBC	OUE Hospitality	0.675	0.75	Buy
02/28/17	Deutsche	OUE Hospitality	0.69	0.65	Hold
03/10/17	DMG & Partners	OUE Hospitality	0.675	0.7	Neutral
03/16/17	OCBC	OUE Hospitality	0.68	0.75	Buy
04/03/17	DMG & Partners	OUE Hospitality	0.69	0.76	Buy	DDM
04/17/17	OCBC	OUE Hospitality	0.71	0.75	Buy
05/05/17	DBS Vickers	OUE Hospitality	0.715	0.76	Buy	DCF
05/05/17	DMG & Partners	OUE Hospitality	0.715	0.76	Buy	DDM
05/05/17	OCBC	OUE Hospitality	0.715	0.75	Buy
05/15/17	DMG & Partners	OUE Hospitality	0.705	0.78	Buy	DDM
06/09/17	OCBC	OUE Hospitality	0.72	0.75	Buy
06/22/17	Deutsche	OUE Hospitality	0.725	0.65	Hold
07/04/17	OCBC	OUE Hospitality	0.755	0.75	Buy
07/12/17	DMG & Partners	OUE Hospitality	0.76	0.78	Buy
08/02/17	CIMB	OUE Hospitality	0.76	0.82	Add	DDM
08/02/17	DMG & Partners	OUE Hospitality	0.76	0.83	Buy	DDM
08/02/17	OCBC	OUE Hospitality	0.76	0.82	Buy
08/02/17	Lim & Tan	OUE Hospitality	0.76	0	Hold
08/03/17	DBS Vickers	OUE Hospitality	0.77	0.8	Buy	DCF
09/21/17	DMG & Partners	OUE Hospitality	0.79	0.83	Buy
09/21/17	OCBC	OUE Hospitality	0.79	0.82	Buy
11/02/17	CIMB	OUE Hospitality	0.81	0.84	Add	DDM
11/02/17	Credit Suisse	OUE Hospitality	0.81	0.78	Neutral
11/02/17	OCBC	OUE Hospitality	0.81	0.82	Hold
11/02/17	DBS Vickers	OUE Hospitality	0.81	0.85	Buy	DCF
11/03/17	DMG & Partners	OUE Hospitality	0.815	0.88	Buy	DDM
12/01/17	OCBC	OUE Hospitality	0.815	0.82	Hold
12/06/17	DBS Vickers	OUE Hospitality	0.825	0.85	Buy
12/19/17	DMG & Partners	OUE Hospitality	0.835	0.88	Buy
01/03/18	DMG & Partners	OUE Hospitality	0.855	0.91	Buy	DDM
01/04/18	Deutsche	OUE Hospitality	0.87	0.65	Sell
01/04/18	CIMB	OUE Hospitality	0.87	0.89	Add	DDM
01/05/18	OCBC	OUE Hospitality	0.875	0.83	Hold
01/31/18	DBS Vickers	OUE Hospitality	0.885	0.93	Buy	DCF
01/31/18	Lim & Tan	OUE Hospitality	0.885	0	Hold

OUE Commercial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/16	DBS Vickers	OUE Commercial	0.65	0.67	Hold	DCF
01/28/16	OCBC	OUE Commercial	0.635	0.65	Hold
01/29/16	DBS Vickers	OUE Commercial	0.625	0.65	Hold
03/07/16	CIMB	OUE Commercial	0.675	0.8	Add	DDM
04/13/16	Kim Eng	OUE Commercial	0.64	0.64	Not Rated
05/11/16	CIMB	OUE Commercial	0.655	0.64	Hold	DDM
05/11/16	OCBC	OUE Commercial	0.655	0.65	Hold
05/12/16	DBS Vickers	OUE Commercial	0.665	0.7	Hold
08/03/16	DBS Vickers	OUE Commercial	0.69	0.65	Hold
08/04/16	CIMB	OUE Commercial	0.695	0.7	Hold	DDM
08/16/16	DBS Vickers	OUE Commercial	0.665	0.73	Hold
09/05/16	DBS Vickers	OUE Commercial	0.68	0.73	Hold
11/02/16	CIMB	OUE Commercial	0.69	0.7	Hold	DDM
11/02/16	DBS Vickers	OUE Commercial	0.69	0.74	Hold	DCF
11/02/16	OCBC	OUE Commercial	0.69	0.65	Hold
01/09/17	DBS Vickers	OUE Commercial	0.695	0.74	Hold	DCF
01/27/17	OCBC	OUE Commercial	0.7	0.65	Hold
03/10/17	OCBC	OUE Commercial	0.685	0.65	Hold
05/08/17	DBS Vickers	OUE Commercial	0.7	0.67	Hold	DCF
05/08/17	OCBC	OUE Commercial	0.7	0.65	Hold
05/08/17	CIMB	OUE Commercial	0.7	0.71	Hold
08/03/17	OCBC	OUE Commercial	0.73	0.68	Hold	DDM
08/04/17	CIMB	OUE Commercial	0.725	0.68	Hold	DDM
08/04/17	DBS Vickers	OUE Commercial	0.725	0.69	Hold
10/04/17	OCBC	OUE Commercial	0.715	0.67	Hold
11/03/17	OCBC	OUE Commercial	0.72	0.67	Hold
11/03/17	CIMB	OUE Commercial	0.72	0.68	Hold	DDM
11/10/17	DBS Vickers	OUE Commercial	0.71	0.73	Hold	DCF
12/05/17	OCBC	OUE Commercial	0.71	0.67	Hold
01/09/18	OCBC	OUE Commercial	0.75	0.67	Hold
02/01/18	CIMB	OUE Commercial	0.75	0.75	Hold	DDM
02/01/18	OCBC	OUE Commercial	0.75	0.69	Hold
02/05/18	DBS Vickers	OUE Commercial	0.755	0.73	Hold	DCF

Stock calls for 13 February 2018

Date	Analyst	Company	Last	Target	Call	Valuation
02/13/18	UOB Kay Hian	A-Reit	2.58	3.05	Buy
02/13/18	Kim Eng	Bumitama	0.695	0.95	Buy
02/13/18	UOB Kay Hian	CapitaCommercial	1.72	2.09	Buy
02/13/18	Lim & Tan	Capitaland	3.47	0	Buy
02/13/18	UOB Kay Hian	CDL Hospitality	1.64	1.95	Buy
02/13/18	UOB Kay Hian	City Developments	12.31	14.03	Buy
02/13/18	UOB Kay Hian	Comfortdelgro	2.01	2.25	Buy
02/13/18	phillip	F & N	2.39	2.83	Accumulate	Sum of parts, PER27.1x FY18
02/13/18	Kim Eng	First Resources	1.75	2.04	Hold
02/13/18	UOB Kay Hian	ISOTeam	0.355	0.45	Buy	PER10.4x FY18
02/13/18	UOB Kay Hian	Keppel Corp	7.8	9.3	Buy
02/13/18	DBS Vickers	Keppel Corp	7.8	10.2	Buy
02/13/18	OCBC	KSH	0.695	0.79	Hold
02/13/18	DBS Vickers	PACC Offshore	0.37	0.51	Buy
02/13/18	UOB Kay Hian	Raffles Medical	1.08	1.34	Buy
02/13/18	DBS Vickers	Sembcorp Industries	3.21	4.5	Buy
02/13/18	DBS Vickers	Sembcorp Marine	2.37	3.1	Buy
02/13/18	JP Morgan	SGX	7.31	9	Overweight
02/13/18	Jefferies	SGX	7.31	8	Buy
02/13/18	UBS	SGX	7.31	8.7	Buy
02/13/18	CIMB	SGX	7.31	7.85	Hold	PER24x FY19
02/13/18	Goldman Sachs	SGX	7.31	6.6	Sell
02/13/18	CIMB	Valuetronics	0.92	1.1	Add	PER11x CY19
02/13/18	UOB Kay Hian	Valuetronics	0.92	0.95	Buy	PER11.3x FY19, Buy @ $0.86
02/13/18	UOB Kay Hian	Venture	21.92	23.5	Buy
02/13/18	OCBC	Wing Tai	2.13	2.64	Buy
02/13/18	UOB Kay Hian	Wing Tai	2.13	2.78	Buy

China imposes anti-dumping measures on imported chemicals.

http://www.xinhuanet.com/english/2018-02/12/c_136970405.htm

As more anti-dumping measures are being undertaken by EU, USA & China, raw material prices will increase substantially and this phenomenon will cause a worldwide inflation.

The long-awaited recession is really coming this time and stock falls are inevitable.

Good luck to us all!

OMG! Mad deer disease is spreading in the USA.

https://www.forbes.com/sites/brucelee/2018/01/23/zombie-deer-disease-is-spreading-what-you-should-do/#48c1d4244291

Stay away from wildlife in the USA or you may get CWD which will lead to death.

Turkey-USA relationship is turning from friends to foes.

https://sg.news.yahoo.com/ties-us-risk-breaking-down-turkey-120203758.html

Who will be the biggest loser?

The Turds will be the biggest loser because the USA will abandon the Turds in the end.

http://sg-stock.blogspot.sg/2017/10/turkey-and-usa-are-at-loggerheads-now.html

SGX fell 7% just because of Nifty futures.

http://www.businesstimes.com.sg/companies-markets/hot-stock-sgx-down-7-on-nifty-futures-exit-brokers-maintain-ratings

A single futures can have such a huge impact on SGX.  This is the price that SGX has to pay for being a derivatives exchange instead of a securities exchange.

A single stock delistment won't cause a 7% fall for SGX unless the stock is a STI stock component.

http://sg-stock.blogspot.sg/2018/02/the-1st-delistment-cwg-in-2018.html

OUE - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/14/16	Kim Eng	OUE	1.72	2.04	Hold	PB0.5x
01/26/16	Deutsche	OUE	1.665	2.35	Buy
02/22/16	Kim Eng	OUE	1.65	2.04	Hold	RNAV (46% discount)
02/24/16	OCBC	OUE	1.63	2.32	Buy
02/25/16	Deutsche	OUE	1.64	2.35	Buy	RNAV (43.3% discount)
02/25/16	DIR	OUE	1.64	3	Buy	Sum of parts
03/24/16	Deutsche	OUE	1.685	2.35	Buy	RNAV (51.3% discount)
05/13/16	DIR	OUE	1.625	3	Buy	Sum of parts
05/13/16	OCBC	OUE	1.625	2.17	Buy
07/26/16	Deutsche	OUE	1.52	2.1	Buy
08/10/16	OCBC	OUE	1.58	2.17	Buy
09/16/16	OCBC	OUE	1.585	2.17	Buy
10/10/16	Lim & Tan	OUE	1.77	0	Buy on weakness
11/03/16	OCBC	OUE	1.69	2.17	Buy
11/04/16	DIR	OUE	1.715	3.1	Buy	Sum of parts
12/07/16	Deutsche	OUE	1.8	2.1	Buy
02/20/17	DIR	OUE	1.95	3.05	Buy	Sum of parts
02/20/17	OCBC	OUE	1.95	2.17	Buy
04/12/17	Deutsche	OUE	2.06	2.2	Buy
04/12/17	OCBC	OUE	2.06	2.17	Buy
05/12/17	Deutsche	OUE	2	3	Buy
05/12/17	DIR	OUE	2	3	Buy	Sum of parts
06/22/17	Deutsche	OUE	1.985	3	Buy
10/20/17	Deutsche	OUE	2.02	3	Buy
11/07/17	OCBC	OUE	2.02	2.47	Buy

Olam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/04/16	phillip	Old Chang Kee	0.705	0.98	Buy	DCF
12/05/16	phillip	Old Chang Kee	0.765	0.98	Buy	DCF
02/14/17	phillip	Old Chang Kee	0.835	0.98	Buy	DCF
04/17/17	phillip	Old Chang Kee	0.85	0.98	Buy
06/05/17	phillip	Old Chang Kee	0.83	0.98	Buy	DCF
08/17/17	phillip	Old Chang Kee	0.765	0.98	Buy	DCF
11/14/17	phillip	Old Chang Kee	0.75	0.98	Buy	DCF
12/04/17	phillip	Old Chang Kee	0.76	0.98	Buy	DCF

Stock calls for 12 February 2018

Date	Analyst	Company	Last	Target	Call	Valuation
02/12/18	Phillip	800Super	1.14	1.35	Accumulate	DCF, PER17.8x FY18
02/12/18	Phillip	A-Reit	2.57	2.87	Accumulate
02/12/18	CIMB	CEI	1	1.02	Hold	PER10.48x
02/12/18	UOB Kay Hian	Citic Envirotech	0.705	1.11	Buy	DCF, PER11.1x FY19
02/12/18	phillip	DBS	26.71	29.3	Buy	GGM, PB1.58x
02/12/18	CIMB	Frasers Property	1.96	2.4	Add	RNAV (30% discount)
02/12/18	DBS Vickers	Frasers Property	1.96	2.35	Buy	RNAV (20% discount), PB1x
02/12/18	Phillip	Keppel DC Reit	1.34	1.47	Neutral	DDM
02/12/18	Lim & Tan	KSH	0.705	0	Hold
02/12/18	Phillip	Mapletree Industrial	1.93	2.15	Neutral
02/12/18	Phillip	Nam Lee	0.38	0.56	Buy	DCF, PER11.1x FY18, PB0.96x FY18
02/12/18	phillip	OCBC	12.19	13.48	Buy
02/12/18	DBS Vickers	Perennial Reit	0.835	1.05	Buy	RNAV (50% discount)
02/12/18	phillip	UOB	26.24	25.22	Accumulate

Was Sir Stamford Raffles a badass?

https://sg.style.yahoo.com/sir-stamford-raffles-monster-090425904.html

Are we studying the wrong history?

Historians, please come out to state the truth!  If Sir Stamford Raffles was truly a badass, then we should stop honouring him.

Singapore didn't invite Taiwan defence minister to the Singapore Airshow 2018.

Singapore didn't invite Taiwan defence minister to the Singapore Airshow 2018 after taking cognizant of the simmering anti-Singapore sentiment in China.

SG is showing a goodwill gesture to China by downgrading the SG-Taiwan diplomatic relationship because SG doesn't want to be ostracized in ASEAN by offending China especially when Philippines is so proactive in boosting its political and economic powers in ASEAN.

http://sg-stock.blogspot.sg/2018/02/philippines-wants-to-displace-singapore.html

Asia will see no peace soon!

https://sg.finance.yahoo.com/news/us-may-boost-marine-corps-000800611.html

Asia will soon become like the Middle East as the USA increases its military strength in Asia.  History has taught us that the USA will bring chaos into the region as it increases its military strength and the Middle East is a good example.

Good luck to Asia as long as the USA is around!

The conspiracy theory of Trump’s policies.

The conspiracy theorists said that the recent USD depreciation was orchestrated by Trump for US companies to repatriate their overseas monies back to the USA at lower exchange rates and special tax rates.

http://sg-stock.blogspot.sg/2018/02/stock-markets-are-falling-like-crazy_9.html

Thereafter, US bond yields started to move higher rapidly to cause the sudden market falls for these companies to use the repatriated monies to buy back their shares at much lower prices, resulting in huge financial profits for these companies.

The theorists alleged that Trump only wanted to benefit and enrich the corporations and his business associates, and this allegation seemed to have some validity that was in sync with the recent movements in USD, bond yields and stock markets.

World bank says bitcoin is a scam!

https://finance.yahoo.com/news/cryptocurrencies-apos-ponzi-schemes-apos-000400404.html

Mathematicians, Economists, Central bank, World bank, etc have been saying bitcoin is a bit scam but the millennials still invest in bitcoin.

https://sg-stock.blogspot.sg/2018/02/mathematicians-say-that-bitcoin-is-scam.html

When the bitcoin implodes, the millennials cannot blame somebody except themselves for investing in crypto.

China mid-course anti-missile test was successful.

https://www.reuters.com/article/us-china-defence/china-says-carries-out-another-anti-missile-test-idUSKBN1FQ08X

USA aegis system failed but China mid-course anti-missile test was successful.

https://sg-stock.blogspot.sg/2018/02/usa-aegis-missile-defence-system-failed.html

Mid-course interception is difficult because the incoming missile has not re-entered the atmosphere from outer space yet.

Congrats to China for the successful test!

Baltic dry index - 1125

Today, Friday, February 09 2018, the Baltic Dry Index climbed by 19 points, reaching 1125 points.

Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday the 10th of February 2016, when the index dropped to 290 points.

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Related stocks: Sembcorp Marine, Cosco & Pan Ocean

US rig count - 975

HOUSTON (AP) - The number of rigs exploring for oil and natural gas in the U.S. increased by 29 this week to 975.

That exceeds the 741 rigs that were active this time a year ago.

Houston oilfield services company Baker Hughes reported Friday that 791 rigs drilled for oil this week and 184 for gas.

Among major oil- and gas-producing states, Texas increased by 14 rigs, North Dakota and Wyoming each gained four, Louisiana and New Mexico each increased by three and Kansas and Oklahoma each gained one.

Colorado decreased by one.

Alaska, Arkansas, California, Ohio, Pennsylvania, Utah and West Virginia were unchanged.

The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.

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Related stocks: Keppel Corp, Sembcorp Marine & Cosco

The USA has abandoned the Syrian Kurds.

https://www.reuters.com/article/us-mideast-crisis-syria-turkey-usa/u-s-to-end-weapons-support-for-syrian-kurdish-ypg-turkey-says-idUSKBN1FG08W

We've stated before that the USA would betray the Syrian Kurds.  The Syrian Kurds will perish if they still continue to harbour any false hope.

http://sg-stock.blogspot.sg/2017/12/the-kurds-are-living-in-land-of.html

Syrian Kurds, please wake up and face the reality.  The USA will only think of its own political interest and will betray the Syrian Kurds anytime.

Olam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/16	UOB Kay Hian	Olam	1.695	2.3	Buy
01/12/16	DBS Vickers	Olam	1.7	2.01	Hold
01/12/16	Lim & Tan	Olam	1.7	0	Hold
01/12/16	OCBC	Olam	1.7	1.86	Hold
03/01/16	DBS Vickers	Olam	1.595	1.58	Hold	DCF & PER10.3x
04/11/16	Lim & Tan	Olam	1.655	0	Hold
04/11/16	OCBC	Olam	1.655	1.67	Hold
06/10/16	Lim & Tan	Olam	1.89	0	Hold
11/16/16	DBS Vickers	Olam	2.03	1.94	Hold	DCF & PER10.3x
03/01/17	DBS Vickers	Olam	2.05	2.12	Hold	DCF & PER16.4x
05/16/17	DBS Vickers	Olam	1.99	2.15	Hold	DCF & PER16.3x

OKP - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/15/17	DBS Vickers	OKP	0.395	0.45	Not Rated	PER11x FY17
06/28/17	Amfrasers	OKP	0.445	0.52	Buy	PER11x FY17
07/17/17	Amfrasers	OKP	0.395	0.39	Hold

Stock calls for 9 February 2018

Date	Analyst	Company	Last	Target	Call	Valuation
02/09/18	Kim Eng	DBS	26.71	29.66	Hold
02/09/18	UOB Kay Hian	DBS	26.71	30.4	Buy	GGM, PB1.62x FY18
02/09/18	CIMB	DBS	26.71	29	Add	GGM, PB1.5x FY18, PER11.6x FY19
02/09/18	Lim & Tan	First Sponsor	1.41	0	Buy
02/09/18	UOB Kay Hian	Memtech	1.29	1.43	Buy	PER11.6x FY18
02/09/18	DMG & Partners	Moya Asia	0.091	0.17	Buy	DCF
02/09/18	DMG & Partners	Neo Group	0.67	0.67	Neutral
02/09/18	CIMB	Perennial Reit	0.835	1.12	Add
02/09/18	Kim Eng	SIA	10.86	10.95	Hold	PB0.93x FY18
02/09/18	OCBC	Singtel	3.4	4.15	Buy
02/09/18	UOB Kay Hian	Singtel	3.4	4.4	Buy	DCF
02/09/18	CIMB	Singtel	3.4	4	Add

Here we go again! The USA government has to shut down again.

https://sg.news.yahoo.com/happens-u-government-shutdown-054756485--business.html

When a government has no money to pay its government employees, do you still think the USA can repay its national debt of more than USD$20T?

New crypto will cannibalize old crypto.

https://finance.yahoo.com/news/bitcoin-cash-leads-crypto-gainers-192707030.html

Bitcoin cash is cannibalizing bitcoin now.

We stated this before based on common economic principle.

https://sg-stock.blogspot.sg/2017/12/bitcoin-will-have-another-fork-after.html

Stock markets are falling like crazy because of rising treasury yield - Part 2

Dow Jones fell more than 1,000 points again for the 2nd time within 4 days. It fell more than 1,000 points after 10-year bond yield first reached 2.84% on 2 Feb.  10-year bond yield is at 2.85% now and the Dow Jones falls more than 1,000 points again.

High bond yields are detrimental to the stock markets but will cause USD to appreciate as the risk-free rate affects other interest rates.

https://sg-stock.blogspot.sg/2018/02/stock-markets-are-falling-like-crazy.html

USD has been appreciating because of higher bond yields which will cause other interest rates to increase.

The USA had increased its national debt by about USD$10T in the past decade (2008) and higher interest rates would increase its interest repayment burden.  This is the primary reason for the stock market fall.  The stock market will see more volatilities from now because FED has to increase interest rates gradually.

Midas assets are frozen in China.

https://www.theedgesingapore.com/midas-ceo-says-shares-and-money-china-subsidiaries-and-associates-frozen-courts?utm_source=Singapore+Market+Report&utm_campaign=4cce0ed852-EMAIL_CAMPAIGN_2018_02_08&utm_medium=email&utm_term=0_46b7beec93-4cce0ed852-90900869

Things are not looking good for Midas as its assets are frozen in China.

Midas is definitely not innocent and this is something that investors have to bear for investing in mid-size China firms.  Many China listed companies got into troubles already insofar.

Something happened to CNY today!

Look at the long green bar which is circled in red.  Downward trajectory means CNY appreciation and upward trajectory means CNY depreciation.

The long green bar appears because China revives QDLP outbound investment scheme.  This QDLP scheme means foreign fund managers can raise money from China and invest overseas and there'll be an outflow of CNY.  Thus, CNY depreciates today due to an impending increase in CNY supply in the international market.

https://www.reuters.com/article/us-china-economy-outbound-investment/china-revives-qdlp-outbound-investment-scheme-in-boost-for-foreign-funds-sources-idUSKBN1FS0DV

Wow! Our Singapore Post got robbed!

https://sg.news.yahoo.com/male-suspect-sought-robbery-singpost-branch-potong-pasir-091438514.html

This is definitely the first such robbery in SG.  Who would expect our Singpost to be robbed?