China tourism in the USA is faltering.

http://www.chinadaily.com.cn/a/201809/30/WS5bb0a08ba310eff3032806dc.html

Look like anti-USA sentiment is brewing in China.

The Chinese had reduced their US trips.

Trump threatens President Xi prior to G20 meeting.

https://sg.finance.yahoo.com/news/u-plans-more-china-tariffs-trump-xi-meeting-194826425--finance.html

If Trump continues in his antes such as economic threats and military FONs in the South China Sea, President Xi will just cancel the meeting with Trump during the G20 meeting and all the stock markets will continue to fall further.

China is ready to fight a prolonged economic war but Trump is not as he has an election to deal with.

Trump is destroying the semiconductor industry.

https://sg.finance.yahoo.com/news/u-restricts-exports-chinese-semiconductor-firm-181101429--sector.html

Micron tech will suffer because it generates more than 50% sales from China.  Is history going to repeat itself? Micron tech collapsed in the past under Singapore PM's wife Ho Ching before it was sold to the USA.  Ho Ching caused Micron to lose $500m in the past but Trump will cause Micron to lose more.

Sigh! Another company is leaving SGX.

https://sg.finance.yahoo.com/news/cityneon-gets-1-30-share-232839455.html

It looks like more companies are leaving SGX this year than those wanting to list on SGX.

SGX is fast becoming a derivatives exchange more than a securities exchange.

Noble Group warns of another loss.

https://sg.finance.yahoo.com/news/noble-group-warns-another-loss-restructuring-costs-mount-005456757.html

This is a foregone company.  Noble won't be able to repay its colossal debt as it is burning cash like hell.

Canadian bitcoin exchange was nothing but a scam.

https://finance.yahoo.com/news/newsflash-canadian-bitcoin-exchange-hacked-202509159.html

It's so easy to scam people by claiming that a hack happened and everything was gone.

This is the danger of investing in a dubious and anonymous financial product.  You cannot claim back your money because it is hard to trace your investment.

Koufu - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/28/18	DBS Vickers	Koufu	0.655	0.84	Buy	PER17x FY19

Kimly - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/10/17	Lim & Tan	Kimly	0.25	0	Subscribe	IPO
03/13/17	Amfrasers	Kimly	0.25	0	Do not subscribe	No competitive advantage
05/17/17	UOB Kay Hian	Kimly	0.44	0.48	Hold	DCF
08/08/17	UOB Kay Hian	Kimly	0.375	0.46	Buy	DCF
12/07/17	UOB Kay Hian	Kimly	0.355	0.45	Buy	DCF, PER22.8x FY18
04/16/18	DMG & Partners	Kimly	0.34	0.43	Buy	DCF, PER22.8x FY18
05/09/18	DMG & Partners	Kimly	0.345	0.43	Buy	DCF, PER22.8x FY18
06/22/18	DMG & Partners	Kimly	0.345	0.43	Buy	DCF
07/04/18	DMG & Partners	Kimly	0.37	0.46	Buy	DCF
08/10/18	DMG & Partners	Kimly	0.335	0.46	Buy	DCF
09/12/18	DMG & Partners	Kimly	0.325	0.46	Buy	DCF

Kim Heng - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/17	OCBC	Kim Heng	0.075	0.089	Hold	PB0.8x FY17

Stock calls for 29 October 2018

Date	Analyst	Company	Last	Target	Call	Valuation
10/29/18	phillip	Cache Logistics	0.71	0.75	Neutral	DDM
10/29/18	OCBC	Cache Logistics	0.71	0.78	Buy
10/29/18	CIMB	Cache Logistics	0.71	0.78	Hold
10/29/18	UOB Kay Hian	CapitaCommercial	1.72	2	Buy	DDM
10/29/18	OCBC	CapitaCommercial	1.72	1.68	Hold
10/29/18	CIMB	CapitaCommercial	1.72	1.9	Add
10/29/18	Kim Eng	Capitamall Trust	2.11	2.15	Hold
10/29/18	Kim Eng	Frasers Hospitality Trust	0.7	0.8	Buy	DDM
10/29/18	DBS Vickers	Frasers Hospitality Trust	0.7	0.78	Buy	DCF
10/29/18	OCBC	Golden Agri	0.255	0.24	Hold
10/29/18	DBS Vickers	Mapletree Commercial	1.64	1.8	Buy	DCF, PB1.2x
10/29/18	OCBC	Mapletree North Asia	1.13	1.34	Buy
10/29/18	phillip	Sembcorp Marine	1.61	1.65	Neutral	PB1.6x FY19
10/29/18	DBS Vickers	Sembcorp Marine	1.61	2.4	Buy	PB2.1x FY18
10/29/18	Lim & Tan	Sembcorp Marine	1.61	0	Hold
10/29/18	CIMB	Sunningdale	1.42	1.84	Add	PB0.92x
10/29/18	phillip	UOB	24.07	32.52	Buy	GGM, PB1.4x FY19
10/29/18	DBS Vickers	UOB	24.07	29.5	Buy	GGM, PB1.3x FY19
10/29/18	DMG & Partners	UOB	24.07	30.8	Buy	GGM, PB1.41x FY19
10/29/18	CIMB	UOB	24.07	31	Add
10/29/18	OCBC	UOB	24.07	28.8	Buy
10/29/18	Jefferies	UOB	24.07	32	Buy
10/29/18	OCBC	Wing Tai	1.94	2.41	Buy

The USD is rising.

We had stated previously that the USD would rise in our previous post below.

http://sg-stock.blogspot.com/2017/12/the-usd-has-been-falling-recently.html

Furthermore, there is a shortage of USD in the world except for USA.  Please read our post below to find out more.

http://sg-stock.blogspot.com/2018/10/usd-has-supply-shortage-now.html

Apple's Iphone XR is having lukewarm sales in China.

Look like anti-US movement in China is taking effect and is affecting Apple's sales in China.

http://sg-stock.blogspot.com/2018/10/omg-anti-us-movement-has-started-in.html

Stores selling Apple's iPhones are reporting lukewarm sales in China now.

Lankom Electronics will be forced to delist on 5 Nov.

https://www.businesstimes.com.sg/companies-markets/lankom-electronics-to-be-delisted-on-nov-5

Lankom Electronics will be forced to delist on 5 Nov.

There a number of companies which have delisted from SGX this year and there would be more coming.

Noble group defaulted on its 2020 notes.

https://www.businesstimes.com.sg/companies-markets/noble-groups-2020-noteholders-informed-of-default-board

The high interest rate on the notes forced Noble to declare bankrupt in the US and rendered the default on the notes.

Even with the restructuring, Noble won't be able to service its high debt because of the high interest rates.  Furthermore, interest rates are rising globally now.

Many Singapore retail investors don't understand bond trading.

Temasek retail bond closed at $1.022 which denoted that the bond yield was a lot lower than 2.7%.

I've calculated the bond yield below in a simple bond cashflow table.

The bond yield at $1.022 is 2.23%.  Therefore, it is stupid for retail investors to purchase the bond at $1.022 as there are other financial derivatives to invest in to yield a much higher return.

A quick outlook on US GDP growth.

https://finance.yahoo.com/news/u-gdp-grows-above-forecast-123002246.html

The US economic growth was at 3.5% in the 3rd Quarter which was above forecast.

What were the growth sectors?

Inventory buildup was up.
Consumer spending was up.
Government spending was up.

What were the declining sectors?

Business investment was down
Net export was down.

In a nutshell, the US economic growth was supported by internal factors whilst the external factors were declining.

Baltic dry index - 1519

Today, Friday , October 26 2018, the Baltic Dry Index climbed by 3 points, reaching 1519 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.

====================

Related stocks: Sembcorp Marine, Cosco & Pan Ocean.

US rig count - 1068

The US drilling rig count was up 1 unit to 1,068 rigs working for the week ended Oct. 26, according to Baker Hughes data. The count is up 159 units from the 909 rigs working this time a year ago.

Land-based rigs rose 2 units to 1,046 for the week. Offshore units fell by 1 to 19 rigs working, while those drilling in inland waters remained unchanged at 3 rigs working.

Oil-directed rigs were up 2 units from last week to 875 units working, and up 138 units from the 737 rigs drilling for oil this week a year ago. Gas-directed rigs were down 1 unit to 193, yet up 21 units from the 172 rigs drilling for gas a year ago.

Among the major oil and gas-producing states, North Dakota and Alaska were the biggest gainers this week, up 2 rigs each to respective counts of 54 and 5.

New Mexico, with 101 rigs working, and West Virginia, with 14 units drilling, were up 1 unit each this week vs. last.

Seven states remained unchanged this week, namely, Oklahoma, 141; Pennsylvania, 44; Wyoming, 30; Ohio, 17; California, 15; Utah, 6; and Kansas, 1.

Colorado, down 1 rig from last week, reached 32 units working. Texas, at 537 units working, and Louisiana, with 61 rigs drilling, were each down 3 rigs vs. last week.

Canada’s rig count gained 9 units for the week. With 200 rigs running, the count is 9 units higher than the 191 rigs working this time last year. Canada gained 1 oil-directed rig to reach 124 units for the week. Its gas-directed rig count was up 8 units to 76 rigs working.

===========================

Related stocks: Keppel Corp, Sembcorp Marine, Cosco.

Anwar went to Beijing to meet Wang Yi to repair the soured relationship.

https://www.scmp.com/week-asia/geopolitics/article/2170051/malaysias-anwar-underlines-serious-bid-strengthen-ties-after

Anwar, the PM-in-waiting, went to Beijing to meet Wang Yi to repair the soured relationship between the 2 nations.

Anwar will rekindle the terminated China projects when he becomes the PM.

Keppel T&T - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	UOB Kay Hian	Keppel T&T	1.715	2.53	Buy
01/26/17	CIMB	Keppel T&T	1.765	1.7	Hold	Sum of parts (20% discount)
01/26/17	UOB Kay Hian	Keppel T&T	1.765	2.51	Buy	Sum of parts
03/21/17	UOB Kay Hian	Keppel T&T	1.75	2.51	Buy
04/07/17	Lim & Tan	Keppel T&T	1.765	0	Buy
04/19/17	CIMB	Keppel T&T	1.755	1.73	Hold	Sum of parts (20% discount)
04/19/17	UOB Kay Hian	Keppel T&T	1.755	2.51	Buy	Sum of parts
05/17/17	UOB Kay Hian	Keppel T&T	1.745	2.51	Buy	Sum of parts
09/08/17	UOB Kay Hian	Keppel T&T	1.5	1.9	Buy	Sum of parts
10/02/17	UOB Kay Hian	Keppel T&T	1.49	1.9	Buy	Sum of parts
01/25/18	UOB Kay Hian	Keppel T&T	1.7	1.9	Buy	Sum of parts
04/18/18	UOB Kay Hian	Keppel T&T	1.57	1.75	Buy	PER30.1x FY19
08/28/18	UOB Kay Hian	Keppel T&T	1.4	1.51	Hold	Sum of parts, Buy @ $1.36
09/17/18	UOB Kay Hian	Keppel T&T	1.34	1.51	Hold	Sum of parts, Buy @ $1.30
09/28/18	UOB Kay Hian	Keppel T&T	1.36	1.91	Accept Offer	Offer $1.91
09/28/18	Lim & Tan	Keppel T&T	1.36	0	Take Profit