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Wednesday, April 3, 2019

Tee Land - Stock calls


Date Analyst Company Last Target Call Valuation
03/09/18 Tayona Tee Land 0.21 0.28 Overweight Sum of parts

Talkmed - Stock calls


Date Analyst Company Last Target Call Valuation
01/08/18 CIMB Talkmed 0.69 0.68 Hold DCF
02/21/18 DMG & Partners Talkmed 0.675 0.72 Neutral DCF
04/27/18 DMG & Partners Talkmed 0.69 0.7 Neutral DCF, PER29x FY18
11/09/18 DMG & Partners Talkmed 0.62 0.64 Neutral
01/07/19 DMG & Partners Talkmed 0.59 0.64 Neutral
02/21/19 DMG & Partners Talkmed 0.58 0.62 Neutral DCF

TA Corp - Stock calls


Date Analyst Company Last Target Call Valuation
10/02/18 Tayona TA Corp 0.24 0.35 Overweight RNAV (33% discount)
10/03/18 Tayrona Financial TA Corp 0.24 0.35 Overweight

Stock calls for 3 April 2019


Date Analyst Company Last Target Call Valuation
04/03/19 DBS Vickers CapitaRetail China 1.57 1.65 Buy
04/03/19 DMG & Partners Comfortdelgro 2.59 2.65 Take Profit Buy below $2.50
04/03/19 DBS Vickers Frasers Centrepoint Trust 2.38 2.6 Buy
04/03/19 DBS Vickers Frasers Logistics 1.16 1.2 Buy
04/03/19 DBS Vickers Keppel KBS 0.705 0.8 Buy
04/03/19 DBS Vickers Mapletree Industrial 2.12 2.3 Buy
04/03/19 DBS Vickers Mapletree North Asia 1.31 1.45 Buy
04/03/19 DBS Vickers OUE Commercial 0.52 0.6 Buy
04/03/19 CIMB Sasseur 0.78 0.92 Add
04/03/19 UOB Kay Hian SPH 2.43 2.82 Buy
04/03/19 Lim & Tan Venture 18.6 0 Hold

Tuesday, April 2, 2019

EU is trying to stop the Asian financial crisis from happening in Europe.

https://sg.finance.yahoo.com/news/eus-juncker-concerned-over-italys-093309757.html

The timing of EU's exhortation about Italy is uncanny after we have singled out Italy as the next target in Europe in our post below.  Maybe the EU is trying to nip it in the bud as a pre-emptive move.  However, it won't be easy for Italy to rein in its high debts.

http://sg-stock.blogspot.com/2019/03/1997-asian-financial-crisis-is.html

Look like this is a duel between the US financial firms and EU officials.  Let's see who will win.

Synagie - Stock calls


Date Analyst Company Last Target Call Valuation
08/27/18 UOB Kay Hian Synagie 0.27 0.45 Buy Price-to-Sales 4.2x FY19
09/06/18 CIMB Synagie 0.215 0.34 Add Price-to-Sales 2.2x CY19

Suntec Reit - Stock calls


Date Analyst Company Last Target Call Valuation
01/04/18 Deutsche Suntec Reit 2.14 2.05 Hold
01/05/18 DMG & Partners Suntec Reit 2.17 1.75 Neutral
01/25/18 CIMB Suntec Reit 2.15 2.17 Hold DDM
01/25/18 DBS Vickers Suntec Reit 2.15 2.3 Buy DCF
01/25/18 OCBC Suntec Reit 2.15 1.81 Sell
01/25/18 Kim Eng Suntec Reit 2.15 1.91 Hold
01/26/18 UOB Kay Hian Suntec Reit 2.14 2.13 Hold DDM
02/20/18 DBS Vickers Suntec Reit 1.97 2.3 Buy
04/25/18 DBS Vickers Suntec Reit 1.9 2.3 Buy
04/25/18 OCBC Suntec Reit 1.9 1.81 Sell
04/26/18 DMG & Partners Suntec Reit 1.9 1.75 Neutral DDM
04/26/18 UOB Kay Hian Suntec Reit 1.9 2.13 Hold DDM
04/26/18 OCBC Suntec Reit 1.9 1.84 Sell
04/26/18 CIMB Suntec Reit 1.9 2.12 Add DDM
04/26/18 Kim Eng Suntec Reit 1.9 1.94 Hold
05/08/18 DBS Vickers Suntec Reit 1.92 2.3 Buy
05/17/18 DMG & Partners Suntec Reit 1.83 1.75 Neutral
06/12/18 DBS Vickers Suntec Reit 1.74 2.3 Buy
07/25/18 OCBC Suntec Reit 1.89 1.84 Hold
07/26/18 CIMB Suntec Reit 1.87 2.08 Add DDM
07/26/18 UOB Kay Hian Suntec Reit 1.87 2.01 Hold DDM, Buy @ $1.83
07/26/18 DBS Vickers Suntec Reit 1.87 2.3 Buy DCF
08/02/18 DBS Vickers Suntec Reit 1.87 2.3 Buy
08/02/18 Deutsche Suntec Reit 1.87 2.1 Buy
09/14/18 DBS Vickers Suntec Reit 1.85 2.3 Buy
09/25/18 Deutsche Suntec Reit 1.85 2.1 Buy
10/10/18 CIMB Suntec Reit 1.84 2.08 Add
10/16/18 DMG & Partners Suntec Reit 1.78 1.9 Neutral DDM
10/24/18 OCBC Suntec Reit 1.81 1.84 Hold
10/25/18 CIMB Suntec Reit 1.81 2.06 Add DDM
10/25/18 UOB Kay Hian Suntec Reit 1.81 2.01 Hold
10/25/18 DBS Vickers Suntec Reit 1.81 2.3 Buy
10/25/18 OCBC Suntec Reit 1.81 1.83 Hold
11/02/18 UOB Kay Hian Suntec Reit 1.74 2.01 Hold
12/11/18 DMG & Partners Suntec Reit 1.78 1.9 Neutral
01/23/19 OCBC Suntec Reit 1.86 1.83 Hold
01/24/19 DBS Vickers Suntec Reit 1.87 2.12 Buy DCF
01/24/19 OCBC Suntec Reit 1.87 1.84 Hold
01/24/19 DMG & Partners Suntec Reit 1.87 1.9 Neutral DDM
01/24/19 Jefferies Suntec Reit 1.87 1.85 Hold Up from $1.80
01/28/19 UOB Kay Hian Suntec Reit 1.93 2.01 Hold Buy @ $1.83
01/28/19 CIMB Suntec Reit 1.93 2.06 Add
03/18/19 DMG & Partners Suntec Reit 1.93 1.9 Neutral
04/02/19 DBS Vickers Suntec Reit 1.96 2.12 Buy

Sunpower - Stock calls


Date Analyst Company Last Target Call Valuation
06/06/18 UOB Kay Hian Sunpower 0.48 0.77 Buy Sum of parts
06/06/18 Lim & Tan Sunpower 0.48 0.95 Buy Sum of parts
08/16/18 Lim & Tan Sunpower 0.595 0.95 Buy Sum of parts
11/12/18 Lim & Tan Sunpower 0.41 0 Buy
01/10/19 UOB Kay Hian Sunpower 0.385 0.76 Buy Sum of parts
03/01/19 UOB Kay Hian Sunpower 0.585 0.88 Buy Sum of parts

Stock calls for 2 April 2019


Date Analyst Company Last Target Call Valuation
04/02/19 Macquarie Capitaland 3.69 3.9 Outperform RNAV
04/02/19 OCBC Capitaland 3.69 3.98 Buy
04/02/19 CIMB China Aviation Oil 1.38 1.7 Add PER11x FY20
04/02/19 Lim & Tan CSE Global 0.545 0 Buy
04/02/19 phillip DBS 25.59 29 Buy
04/02/19 Kim Eng Japfa 0.665 1.05 Buy
04/02/19 phillip OCBC 11.21 13.7 Buy
04/02/19 DBS Vickers OCBC 11.21 12.9 Buy
04/02/19 DBS Vickers Suntec Reit 1.96 2.12 Buy
04/02/19 phillip UOB 25.42 32.5 Buy
04/02/19 DBS Vickers UOB 25.42 29.2 Buy
04/02/19 OCBC UOL 7.11 8.45 Buy RNAV

Johoreans are suffering because of Mahathir.

https://www.businesstimes.com.sg/government-economy/johor-businesses-suffering-from-drop-in-singapore-visitors-report

Malaysians must not think that there won't be any repercussion under Mahathir's leadership because he will bring more suffering to Malaysians.  Mahathir is well known to be anti-Singapore and anti-Chinese.  The Malacca gateway project is going to be a white elephant once it is completed because of Mahathir's policies.

Monday, April 1, 2019

Turkey has a strategic role in the Middle East.

Turkey has a strategic role in the Middle East and its economic collapse will bring great misfortunes in the Middle East and Europe.

Turkey is acting as a spigot of capital flows between Europe and the Middle East because of the different financial philosophies that exist between the west and Islam.  The west is used to seeking a financial return based on interest yield while Islam is only allowed to seek a financial return based on profit sharing because of its religious belief.  This diverse dichotomy between the 2 philosophies engenders a great opportunity for Turkey to be a financial hub in the Middle East.

Turkey is able to repackage and re-export the investments between Islamic countries and Europe so that both opposing sides can flourish.  Thus, if anything happens to Turkey, the capital and investment flows between the Middle East and Europe will decline significantly and disrupt both continents.

Let's take a look at Turkey's economic situation now.



Turkey is in dire straits from the economic standpoint. It is not able to defend against any malicious attack on its economic and financial sectors.

We had highlighted this in our previous post below.

http://sg-stock.blogspot.com/2019/03/1997-asian-financial-crisis-is.html

Sunningdale - Stock calls


Date Analyst Company Last Target Call Valuation
01/10/18 CIMB Sunningdale 1.92 2.79 Add
02/07/18 CIMB Sunningdale 1.86 2.79 Add
02/23/18 CIMB Sunningdale 1.93 2.82 Add PB1.374x FY18
02/23/18 UOB Kay Hian Sunningdale 1.93 2.51 Buy PER11.4x FY18
02/23/18 DBS Vickers Sunningdale 1.93 2.7 Buy PER13x FY18
02/23/18 Lim & Tan Sunningdale 1.93 0 Buy on weakness
04/03/18 DBS Vickers Sunningdale 1.89 2.7 Buy
04/24/18 Lim & Tan Sunningdale 1.73 0 Hold
04/25/18 UOB Kay Hian Sunningdale 1.47 2 Buy PER11.9x FY18
04/25/18 CIMB Sunningdale 1.47 2.5 Add PB1.23x FY18
04/25/18 DBS Vickers Sunningdale 1.47 1.53 Hold PER11x FY18
05/23/18 UOB Kay Hian Sunningdale 1.27 2 Buy PER11.9x FY18
05/25/18 CIMB Sunningdale 1.28 2.5 Add PB1.02x
06/04/18 UOB Kay Hian Sunningdale 1.38 2 Buy
07/04/18 UOB Kay Hian Sunningdale 1.29 2 Buy
08/08/18 Lim & Tan Sunningdale 1.31 0 Buy
08/10/18 CIMB Sunningdale 1.42 2.05 Add PB1.02x FY18
09/14/18 UOB Kay Hian Sunningdale 1.35 1.7 Buy
10/29/18 CIMB Sunningdale 1.42 1.84 Add PB0.92x
11/12/18 CIMB Sunningdale 1.41 1.84 Add PB0.92x
11/12/18 UOB Kay Hian Sunningdale 1.41 1.5 Hold PER10.6x FY19, Buy @ $1.25
11/12/18 Lim & Tan Sunningdale 1.41 0 Buy
12/12/18 UOB Kay Hian Sunningdale 1.37 1.5 Hold PER10.6x FY19, Buy @ $1.25
12/12/18 Lim & Tan Sunningdale 1.37 0 Buy
03/01/19 UOB Kay Hian Sunningdale 1.56 1.3 Hold PER11x FY19, Buy @ $1.20
03/01/19 Lim & Tan Sunningdale 1.56 0 Hold
03/05/19 CIMB Sunningdale 1.4 1.38 Reduce PB0.69x FY19

Starhub - Stock calls


Date Analyst Company Last Target Call Valuation
01/10/18 DMG & Partners Starhub 2.89 2.7 Neutral
01/12/18 UOB Kay Hian Starhub 2.93 2.62 Hold
01/17/18 CIMB Starhub 2.92 2.8 Hold DCF
01/26/18 DBS Vickers Starhub 2.97 2.2 Fully Valued DCF
02/15/18 OCBC Starhub 2.86 2.2 Sell
02/15/18 UOB Kay Hian Starhub 2.86 2.7 Hold DCF, Buy @ $2.50
02/15/18 Kim Eng Starhub 2.86 2.27 Sell DCF
02/15/18 Credit Suisse Starhub 2.86 2.15 Underperform
02/15/18 CIMB Starhub 2.86 2.7 Hold DCF
02/15/18 Lim & Tan Starhub 2.86 0 Sell
02/15/18 DMG & Partners Starhub 2.86 2.65 Neutral
02/15/18 Citibank Starhub 2.86 2.3 Sell
02/20/18 DBS Vickers Starhub 2.6 2.2 Fully Valued DCF
03/12/18 UOB Kay Hian Starhub 2.47 2.7 Hold
03/14/18 Kim Eng Starhub 2.44 2.27 Sell DCF
03/15/18 CIMB Starhub 2.43 2.7 Hold DCF
03/15/18 DMG & Partners Starhub 2.43 2.65 Neutral
03/20/18 UOB Kay Hian Starhub 2.43 2.25 Sell
04/03/18 Kim Eng Starhub 2.33 2.27 Hold
04/10/18 OCBC Starhub 2.28 2.2 Hold
04/10/18 UOB Kay Hian Starhub 2.28 2.25 Sell
04/10/18 Citibank Starhub 2.28 2.3 Hold
05/04/18 UOB Kay Hian Starhub 2.31 2.25 Sell DCF
05/04/18 Kim Eng Starhub 2.31 2.27 Hold DCF
05/04/18 DMG & Partners Starhub 2.31 2.5 Neutral DCF
05/04/18 OCBC Starhub 2.31 2.2 Hold
05/07/18 CIMB Starhub 2.29 2.4 Hold DCF
05/07/18 DBS Vickers Starhub 2.29 2.05 Fully Valued DCF
06/12/18 UOB Kay Hian Starhub 1.84 1.98 Hold DCF
06/12/18 Citibank Starhub 1.84 2 Hold
06/27/18 DMG & Partners Starhub 1.73 1.9 Neutral DCF
06/27/18 DBS Vickers Starhub 1.73 1.42 Hold EV/Ebitda5.6x
07/03/18 UOB Kay Hian Starhub 1.64 1.98 Hold
07/09/18 Kim Eng Starhub 1.7 1.96 Buy DCF
08/08/18 UOB Kay Hian Starhub 1.69 1.92 Hold DCF, Buy @ $1.65
08/08/18 DBS Vickers Starhub 1.69 1.42 Hold EV/Ebitda5.6x
08/08/18 DMG & Partners Starhub 1.69 1.78 Neutral DCF
08/08/18 OCBC Starhub 1.69 1.65 Hold
08/08/18 Citibank Starhub 1.69 1.55 Hold
08/15/18 CIMB Starhub 1.65 1.85 Add DCF
08/20/18 UOB Kay Hian Starhub 1.66 1.82 Hold DCF, Buy @ $1.64
09/06/18 Kim Eng Starhub 1.61 1.96 Buy DCF
09/06/18 UOB Kay Hian Starhub 1.61 1.85 Hold DCF
09/06/18 CIMB Starhub 1.61 1.85 Add DCF
09/06/18 DBS Vickers Starhub 1.61 1.42 Hold EV/Ebitda5.6x
09/06/18 DMG & Partners Starhub 1.61 1.78 Neutral DCF
09/25/18 UOB Kay Hian Starhub 1.71 1.92 Buy DCF
09/28/18 Citibank Starhub 1.88 1.55 Sell
10/01/18 UOB Kay Hian Starhub 1.87 2.1 Buy DCF
10/04/18 DMG & Partners Starhub 1.87 1.78 Neutral
10/04/18 OCBC Starhub 1.87 1.65 Hold
10/04/18 CIMB Starhub 1.87 2 Add DCF
10/04/18 DBS Vickers Starhub 1.87 2.45 Buy DCF
10/05/18 Kim Eng Starhub 1.95 2.21 Buy DCF
10/19/18 UOB Kay Hian Starhub 1.96 2.3 Buy DCF
11/02/18 DBS Vickers Starhub 1.98 2.45 Buy DCF
11/07/18 CIMB Starhub 1.96 2 Hold DCF
11/07/18 Kim Eng Starhub 1.96 2.21 Buy DCF
11/12/18 UOB Kay Hian Starhub 1.94 2.3 Buy DCF
11/12/18 DMG & Partners Starhub 1.94 1.9 Neutral DCF
11/12/18 OCBC Starhub 1.94 1.92 Hold
12/20/18 DBS Vickers Starhub 1.77 2.45 Buy
01/02/19 UOB Kay Hian Starhub 1.75 1.6 Sell
01/02/19 Kim Eng Starhub 1.75 2.21 Buy
01/04/19 Phillip Starhub 1.71 1.88 Accumlate EV/Ebitda6x FY19
01/14/19 DMG & Partners Starhub 1.77 1.9 Neutral
01/15/19 DBS Vickers Starhub 1.77 2.45 Buy DCF
02/07/19 Kim Eng Starhub 1.82 2.21 Buy
02/08/19 DBS Vickers Starhub 1.89 2.45 Buy
02/15/19 OCBC Starhub 1.9 1.64 Sell
02/15/19 DMG & Partners Starhub 1.9 2.02 Neutral DCF
02/15/19 DBS Vickers Starhub 1.9 1.92 Hold DCF
02/15/19 Lim & Tan Starhub 1.9 0 Sell
02/18/19 Phillip Starhub 1.67 1.58 Neutral EV/Ebitda
02/18/19 Kim Eng Starhub 1.67 2.18 Buy DCF
02/18/19 UOB Kay Hian Starhub 1.67 1.45 Sell DCF
02/19/19 CIMB Starhub 1.61 2 Hold DCF
03/26/19 CIMB Starhub 1.51 1.65 Hold DCF (10% discount)
04/01/19 Kim Eng Starhub 1.49 2.18 Buy

Starhill - Stock calls


Date Analyst Company Last Target Call Valuation
01/02/18 Kim Eng Starhill 0.78 0.7 Sell DDM
01/05/18 DMG & Partners Starhill 0.775 0.81 Neutral DDM
01/30/18 OCBC Starhill 0.78 0.77 Hold
01/30/18 Lim & Tan Starhill 0.78 0 Hold
03/19/18 DBS Vickers Starhill 0.725 0.82 Buy
04/27/18 OCBC Starhill 0.72 0.77 Hold
04/27/18 Kim Eng Starhill 0.72 0.7 Sell
05/17/18 DMG & Partners Starhill 0.685 0.81 Neutral
06/19/18 OCBC Starhill 0.66 0.65 Hold
07/30/18 Kim Eng Starhill 0.685 0.65 Hold DDM
07/30/18 OCBC Starhill 0.685 0.65 Hold
07/31/18 CIMB Starhill 0.685 0.69 Hold DDM
08/17/18 OCBC Starhill 0.675 0.74 Buy
10/16/18 DMG & Partners Starhill 0.67 0.8 Buy DDM
10/31/18 OCBC Starhill 0.665 0.71 Buy
11/01/18 CIMB Starhill 0.67 0.74 Add DDM
11/20/18 DMG & Partners Starhill 0.665 0.8 Buy
12/11/18 DBS Vickers Starhill 0.67 0.75 Buy DCF
12/11/18 DMG & Partners Starhill 0.67 0.8 Buy
01/02/19 DMG & Partners Starhill 0.68 0.8 Buy DDM
01/31/19 CIMB Starhill 0.72 0.75 Add DDM
01/31/19 DBS Vickers Starhill 0.72 0.75 Buy
02/01/19 OCBC Starhill 0.715 0.75 Buy
03/13/19 DMG & Partners Starhill 0.7 0.8 Buy
03/19/19 OCBC Starhill 0.7 0.75 Buy
03/20/19 DBS Vickers Starhill 0.695 0.75 Buy
03/21/19 DMG & Partners Starhill 0.705 0.78 Buy DDM
03/22/19 CIMB Starhill 0.7 0.74 Add DDM

Stock calls for 1 April 2019


Date Analyst Company Last Target Call Valuation
04/01/19 UOB Kay Hian Capitaland 3.65 4.4 Buy
04/01/19 phillip Clearbridge 0.142 0.28 Buy DCF
04/01/19 UOB Kay Hian DBS 25.23 28.4 Buy
04/01/19 Lim & Tan Ho Bee 2.52 0 Buy
04/01/19 UOB Kay Hian Keppel Reit 1.29 1.35 Buy
04/01/19 UOB Kay Hian Netlink 0.83 0.92 Buy
04/01/19 Kim Eng Netlink 0.83 0.93 Buy
04/01/19 UOB Kay Hian Parkway Life 2.92 3.25 Buy
04/01/19 UOB Kay Hian Propnex 0.595 0.66 Buy
04/01/19 Kim Eng Singtel 3.02 3.39 Hold
04/01/19 Kim Eng Starhub 1.49 2.18 Buy
04/01/19 UOB Kay Hian Tianjin Zhongxin 0.915 1.7 Buy

Germany's PMI is weaker than expected.

https://sg.finance.yahoo.com/news/germanys-manufacturing-recession-worsens-pmi-070916655--finance.html

Germany's PMI is 44.1 and is lower than the expected 44.7.

http://sg-stock.blogspot.com/2019/03/germany-will-enter-into-recession-in.html

Europe has the perfect condition set up for a financial crisis.  Let's see if the US financial firms will launch an attack against Europe.

Midas will go bankrupt faster than Hyflux.

https://sg.finance.yahoo.com/news/facing-insolvency-no-rescuer-sight-081430368.html

Midas is unable to find a white knight because it doesn't know its own debt situation.

We stated this in our previous post below.

http://sg-stock.blogspot.com/2018/05/midas-is-facing-bankruptcy-now.html

It is useless for the Hyflux investors to protest.

https://sg.finance.yahoo.com/news/rare-singapore-protest-flags-investor-anger-hyflux-slump-025643570.html

There is no point in protesting because the Hyflux investors won't achieve anything. Just look at and learn from the history of Lehman Brothers' minibonds sold by DBS.  DBS also refused to compensate the Singapore minibond's investors until the HKMA forced DBS's subsidiary in HK to compensate the HK investors.  It was the HKMA's action that compelled DBS to compensate our Singapore investors.

The Hyflux investors have to bite the bullets and move on because there is nothing they can do.


Sunday, March 31, 2019

1997 Asian financial crisis is replaying in the Middle East now. Here's why!

https://www.businessinsider.sg/turkey-probes-jpmorgan-for-lira-advice-before-currency-plunged-2019-3/?r=US&IR=T

JP Morgan is trying to start the spark of a financial crisis in the Middle East which has the same modus operandi as the 1997 Asian financial crisis.

The first step will be to devalue the currency and JPM has selected Lira because Turkey is a big economic with bad fundamentals.  Turkey is in a technical recession now.

https://www.nytimes.com/2019/03/11/business/turkey-recession.html

JPM had issued a shorting report on Lira just before the Turkey election and it was successful in creating a Lira panic.  The Turkey swap rates soared past 1200% at one point.

https://www.theguardian.com/world/2019/mar/31/turkey-votes-local-elections-seen-key-test-of-erdogan-rule

https://www.dailysabah.com/economy/2019/03/29/turkey-aware-of-currency-market-manipulation-ahead-of-local-elections

https://www.bloomberg.com/news/articles/2019-03-27/foreign-investors-are-trapped-in-turkey-days-before-elections

The intention of JPM is not to earn a huge windfall from the currency market but to force the Turkish central bank to hike interest rates or keep its high interest rates long enough to impact interest rate sensitive industries such as banking and finance, property, etc.  Consequently, the high interest rates will cause the Turkish stock market to crash and the US financial firms will earn the huge windfalls from shorting the index futures in Turkey and other affected countries as the contagion spreads.

Let's reminisce the 1997 Asian financial crisis in steps.

1. Steep currency devaluation.
2. Central bank hikes interest rates or keeps high interest rates long enough to prevent the steep currency depreciation.
3. Stock market crashes
4. Another big but weak economy is targeted (HK)
5. Contagion spreads like fire in Asia.

The Thai baht was first targeted by George Soros (GS) because Thailand had high non-performing loans in the banking and financial industries and the Thai baht was pegged to the USD back then.  The steep devaluation of the Thai baht forced the Thailand central bank to raise interest rates to prevent the steep Thai baht depreciation.  Subsequently, the high interest rates caused the Thai stock market to collapse and exacerbate its economy.  Thereafter, the contagion started to spread and Hong Kong became the next target for GS.  In 1997, HK was returned to China with limited coffer because the UK had siphoned the HK government funds.  Therefore, the new HK became the perfect target for GS.

Turkey is just like Thailand in 1997 now.  Currently, step 1 (Steep currency devaluation) has happened.  Turkey looks set to hike or keep its high interest rates long enough to protect its lira.

Let's see how this will pan out.

When step 2 and 3 have taken place, the next target will be one of the pigs (Portugal, Italy, Greece, Spain) in Europe.  My guess will be Italy because it is a big economy with high debts.


Saturday, March 30, 2019

Baltic dry index - 689

Today, Friday, March 29 2019, the Baltic Dry Index decreased by 3 points, reaching 689 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 - 1006

The weekly Baker Hughes rig count 

  • Total rig count 1006 vs 1016 last week
  • Oil rig count 816 vs 824 last week
  • Gas rig count 190 vs 192 last week.
The price of crude is trading at $60.10 up $0.79 or 1.32%. The high reached $60.73. The low extended to $59.41

It is the 4th down week in a row for oil rigs.  The high water mark for oil rigs reached 888 in November 2018. Today's number is the lowest since April 2018.

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Related stocks: Keppel Corp, Sembcorp Marine & Cosco