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?

OCBC bank - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/16	CIMB	OCBC	8.64	10.88	Add
01/08/16	DIR	OCBC	8.37	11.7	Buy
01/14/16	Macquarie	OCBC	8.24	0	Neutral
01/18/16	Deutsche	OCBC	7.95	10	Buy	GGM, PB1.2x
01/18/16	DMG & Partners	OCBC	7.95	10.7	Buy	GGM, PB1.25x FY16
01/18/16	Goldman Sachs	OCBC	7.95	9.1	Neutral
01/28/16	JP Morgan	OCBC	7.62	9	Overweight
01/28/16	UOB Kay Hian	OCBC	7.62	11.25	Buy
01/29/16	Credit Suisse	OCBC	7.63	9.9	Neutral
01/29/16	HSBC	OCBC	7.63	10.2	Buy
02/04/16	UOB Kay Hian	OCBC	7.49	9.8	Buy	GGM, PB1.21x
02/11/16	UBS	OCBC	756	9	Buy	PER9x FY16
02/17/16	Bloomberg	OCBC	7.77	9.67	Buy	Consenus target
02/17/16	Lim & Tan	OCBC	7.77	0	Buy
02/18/16	Amfrasers	OCBC	7.78	8.41	Buy
02/18/16	CIMB	OCBC	7.78	10.01	Add	GGM, PB1.16x CY16
02/18/16	Credit Suisse	OCBC	7.78	9.9	Neutral
02/18/16	DBS Vickers	OCBC	7.78	9.4	Buy	GGM, PB1x FY16
02/18/16	DIR	OCBC	7.78	9.8	Buy	Warranted Equity Valuation Method
02/18/16	Kim Eng	OCBC	7.78	7.2	Sell	PB0.84x FY16
02/18/16	UOB Kay Hian	OCBC	7.78	9.98	Buy	GGM, PB1.19x
02/19/16	phillip	OCBC	7.92	7.85	Neutral	PB0.95x FY16
02/26/16	Credit Suisse	OCBC	7.84	9	Neutral
03/03/16	CIMB	OCBC	8.31	10.01	Add
03/04/16	JP Morgan	OCBC	8.6	7.7	Neutral
03/07/16	DMG & Partners	OCBC	8.79	9.6	Buy
03/24/16	DIR	OCBC	9.15	11	Buy
03/24/16	Kim Eng	OCBC	9.15	7.2	Sell
03/24/16	UOB Kay Hian	OCBC	9.15	9.98	Buy	GGM, PB1.19x FY16
04/07/16	DBS Vickers	OCBC	8.72	9.4	Buy
04/07/16	UBS	OCBC	8.72	10	Buy
04/07/16	UOB Kay Hian	OCBC	8.72	10.68	Buy	GGM, PB1.26x
04/08/16	Amfrasers	OCBC	8.81	8.41	Hold
04/08/16	CIMB	OCBC	8.81	10.01	Add	PB1.16x CY16
04/08/16	DIR	OCBC	8.81	11	Buy	Warranted Equity Valuation Method
04/08/16	DMG & Partners	OCBC	8.81	9.6	Buy	GGM
04/08/16	Kim Eng	OCBC	8.81	7.2	Sell	PB0.8x FY16
04/08/16	Macquarie	OCBC	8.81	9.5	Outperform
04/11/16	phillip	OCBC	8.78	7.85	Neutral	PB
04/26/16	HSBC	OCBC	9.28	10.2	Hold	GGM, PB1.2x FY16, PER11x FY16
04/29/16	Bloomberg	OCBC	8.9	9.33	Hold
05/03/16	Amfrasers	OCBC	8.77	8.41	Hold
05/03/16	DBS Vickers	OCBC	8.77	9.4	Hold
05/03/16	Deutsche	OCBC	8.77	9.5	Hold
05/03/16	DMG & Partners	OCBC	8.77	9.5	Neutral	GGM, PB1.1x
05/03/16	Jefferies	OCBC	8.77	8	Hold
05/03/16	Kim Eng	OCBC	8.77	7.2	Sell	PB0.8x FY16
05/03/16	phillip	OCBC	8.77	8.07	Neutral	PB0.95x FY16
05/03/16	UOB Kay Hian	OCBC	8.77	10.98	Buy	GGM, PB1.27x
05/04/16	CIMB	OCBC	8.6	8.8	Hold	GGM, PB1.02x CY16
05/04/16	Macquarie	OCBC	8.6	9.5	Outperform
05/06/16	Credit Suisse	OCBC	8.44	9	Neutral
05/10/16	DIR	OCBC	8.43	10.7	Buy	Warranted Equity Valuation Method
05/19/16	Goldman Sachs	OCBC	8.45	8.7	Neutral
05/19/16	UOB Kay Hian	OCBC	8.45	10.86	Buy	GGM, PB1.26x
06/09/16	DIR	OCBC	8.84	10.7	Buy
06/14/16	Deutsche	OCBC	8.46	9.5	Hold
06/30/16	Goldman Sachs	OCBC	8.49	9.2	Neutral
06/30/16	Kim Eng	OCBC	8.49	7.2	Sell
07/11/16	DBS Vickers	OCBC	8.74	9.4	Hold
07/11/16	DMG & Partners	OCBC	8.74	8.68	Neutral	GGM, PB0.98x FY16, PER10.3x FY16
07/19/16	DIR	OCBC	9	10.7	Buy
07/27/16	UOB Kay Hian	OCBC	8.84	10.86	Buy	GGM, PB1.26x FY16
07/28/16	Lim & Tan	OCBC	8.85	0	Hold
07/29/16	CIMB	OCBC	8.8	8.11	Reduce	GGM
07/29/16	Credit Suisse	OCBC	8.8	9	Neutral
07/29/16	DBS Vickers	OCBC	8.8	8.4	Hold
07/29/16	DIR	OCBC	8.8	11.3	Buy	Warranted Equity Valuation Method
07/29/16	Goldman Sachs	OCBC	8.8	9	Neutral
07/29/16	Kim Eng	OCBC	8.8	7.49	Sell	PB0.8x FY17
07/29/16	Lim & Tan	OCBC	8.8	0	Hold
07/29/16	Macquarie	OCBC	8.8	9.5	Outperform
07/29/16	UOB Kay Hian	OCBC	8.8	10.48	Buy	GGM, PB1.26x
08/01/16	phillip	OCBC	8.6	8.14	Neutral	PB0.95x FY16
08/12/16	Credit Suisse	OCBC	8.46	9	Neutral
08/12/16	Deutsche	OCBC	8.46	9	Hold
08/18/16	Kim Eng	OCBC	8.44	7.49	Sell
08/30/16	UOB Kay Hian	OCBC	8.58	10.3	Buy	GGM, PB1.21x
09/09/16	Credit Suisse	OCBC	8.87	8.8	Neutral
09/28/16	DIR	OCBC	8.59	11.3	Buy
10/03/16	Kim Eng	OCBC	8.65	7.49	Sell
10/05/16	DMG & Partners	OCBC	8.66	8.68	Neutral
10/11/16	UOB Kay Hian	OCBC	8.69	10.3	Buy
10/12/16	Goldman Sachs	OCBC	8.66	9	Neutral
10/17/16	DBS Vickers	OCBC	8.41	8.4	Hold
10/17/16	DIR	OCBC	8.41	11.3	Buy
10/19/16	CIMB	OCBC	8.49	8.11	Reduce
10/27/16	Lim & Tan	OCBC	8.53	0	Hold
10/28/16	CIMB	OCBC	8.58	8.18	Reduce	GGM, PB0.91x CY17
10/28/16	DBS Vickers	OCBC	8.58	8.6	Hold	GGM, PB0.9x FY17
10/28/16	DIR	OCBC	8.58	11	Buy	PB1.27x
10/28/16	DMG & Partners	OCBC	8.58	8.81	Neutral
10/28/16	Kim Eng	OCBC	8.58	7.4	Sell	PB0.8x FY17
10/28/16	phillip	OCBC	8.58	8.25	Neutral	PB0.95x FY16
10/28/16	UOB Kay Hian	OCBC	8.58	10.45	Buy	GGM, PB1.17x
11/07/16	Credit Suisse	OCBC	8.43	8.8	Neutral
11/14/16	UOB Kay Hian	OCBC	8.58	10.45	Buy	GGM, PB1.17x F717
11/25/16	Credit Suisse	OCBC	8.78	10.15	Outperform
11/28/16	DIR	OCBC	8.89	11	Buy
12/05/16	Kim Eng	OCBC	9.15	7.4	Sell	PB0.8x FY17
12/06/16	CIMB	OCBC	9.2	8.18	Reduce	GGM, PB0.91x CY17
12/07/16	DBS Vickers	OCBC	9.27	10.3	Buy	GGM, PB1.1x FY17
12/07/16	Deutsche	OCBC	9.27	9	Hold
01/03/17	DMG & Partners	OCBC	8.92	8.81	Neutral
01/03/17	UOB Kay Hian	OCBC	8.92	10.45	Buy
01/04/17	Kim Eng	OCBC	8.98	7.4	Sell
01/06/17	UOB Kay Hian	OCBC	9.18	10.65	Buy	GGM, PB1.2x FY17
01/11/17	DIR	OCBC	9.35	11	Buy
02/02/17	Lim & Tan	OCBC	9.48	0	Hold
02/03/17	CIMB	OCBC	9.45	8.18	Reduce
02/06/17	Macquarie	OCBC	9.42	10	Outperform
02/08/17	UOB Kay Hian	OCBC	9.66	10.65	Buy
02/14/17	Lim & Tan	OCBC	9.75	0	Take profit/Sell	Buy @ $8.49
02/15/17	CIMB	OCBC	9.43	8.83	Reduce	GGM, PB0.98x CY17
02/15/17	Credit Suisse	OCBC	9.43	10.5	Outperform
02/15/17	DBS Vickers	OCBC	9.43	10.3	Hold	GGM, PB1.1x FY17
02/15/17	DIR	OCBC	9.43	11	Buy	GGM, PB1.23x
02/15/17	DMG & Partners	OCBC	9.43	8.9	Neutral	GGM, PB1x FY17
02/15/17	Kim Eng	OCBC	9.43	8.05	Sell	PB0.9x FY17
02/15/17	UOB Kay Hian	OCBC	9.43	10.75	Buy	GGM, PB1.19x FY17
02/16/17	phillip	OCBC	9.45	8.48	Reduce	PB0.95x FY17
03/02/17	UOB Kay Hian	OCBC	9.53	10.75	Buy	GGM, PB1.19x FY17
03/03/17	CIMB	OCBC	9.51	8.83	Reduce
03/03/17	Jefferies	OCBC	9.51	8	Underperform
03/06/17	Macquarie	OCBC	9.49	10	Outperform
03/21/17	DMG & Partners	OCBC	9.63	8.9	Neutral	GGM, PB1x FY17
03/21/17	Kim Eng	OCBC	9.63	8.05	Sell
04/03/17	Kim Eng	OCBC	9.72	8.05	Sell
04/12/17	UOB Kay Hian	OCBC	9.59	10.75	Buy	GGM, PB1.19x FY17
04/18/17	DIR	OCBC	9.59	11	Buy
04/25/17	CIMB	OCBC	9.64	8.83	Reduce
04/25/17	Sanford C Bernstein	OCBC	9.64	10.95	Outperform
05/09/17	DMG & Partners	OCBC	10.3	8.9	Neutral
05/09/17	Lim & Tan	OCBC	10.3	0	Hold
05/11/17	CIMB	OCBC	10.46	9.94	Hold	GGM, PB1.1x CY17
05/11/17	Credit Suisse	OCBC	10.46	11.1	Outperform
05/11/17	DBS Vickers	OCBC	10.46	10.3	Hold	GGM, PB1.1x FY17
05/11/17	DIR	OCBC	10.46	11	Hold	GGM, PB1.22x FY17
05/11/17	DMG & Partners	OCBC	10.46	10.22	Neutral
05/11/17	Kim Eng	OCBC	10.46	9.85	Hold	PB1.1x FY17
05/11/17	Macquarie	OCBC	10.46	10	Outperform	PB1.19x
05/11/17	phillip	OCBC	10.46	8.48	Reduce	PB0.95x FY17
05/11/17	UOB Kay Hian	OCBC	10.46	11.7	Buy	GGM, PB1.3x FY17
05/23/17	Jefferies	OCBC	10.3	10.5	Hold
06/08/17	UOB Kay Hian	OCBC	10.58	11.7	Buy
06/14/17	Kim Eng	OCBC	10.74	9.85	Hold	PB1.1x FY18
06/28/17	DMG & Partners	OCBC	10.73	10.15	Neutral
06/28/17	UOB Kay Hian	OCBC	10.73	11.7	Buy	GGM, PB1.3x FY17
07/03/17	Kim Eng	OCBC	10.79	9.85	Hold
07/04/17	UOB Kay Hian	OCBC	10.72	13	Buy	GGM, PB1.36x FY18
07/12/17	Credit Suisse	OCBC	10.79	10.9	Neutral
07/27/17	Lim & Tan	OCBC	11.25	0	Hold
07/28/17	Macquarie	OCBC	11.49	10.4	Neutral	GGM, PB1.27x FY18
07/28/17	phillip	OCBC	11.49	10.81	Neutral	GGM, PB1.2x
07/28/17	DIR	OCBC	11.49	11.5	Hold	GGM, PB1.24x
07/28/17	UOB Kay Hian	OCBC	11.49	13.38	Buy	GGM, PB1.39x FY18
07/28/17	DMG & Partners	OCBC	11.49	10.96	Neutral	GGM, PB1.16x FY17
07/28/17	CIMB	OCBC	11.49	11.98	Hold	GGM, PB1.3x CY17
07/28/17	DBS Vickers	OCBC	11.49	12.8	Buy	GGM, PB1.3x FY18
08/07/17	UOB Kay Hian	OCBC	11.21	13.38	Buy
08/18/17	Macquarie	OCBC	11.14	10.4	Neutral
08/22/17	Kim Eng	OCBC	11.02	11.05	Hold	GGM, PB1.1x FY18
08/23/17	Macquarie	OCBC	11.07	12.2	Outperform
08/23/17	DBS Vickers	OCBC	11.07	12.8	Buy
08/23/17	Deutsche	OCBC	11.07	11.5	Hold
09/12/17	DMG & Partners	OCBC	10.92	10.96	Neutral	PB1.1x FY18
09/18/17	phillip	OCBC	10.95	10.81	Neutral
09/18/17	Kim Eng	OCBC	10.95	11.05	Hold
09/20/17	DBS Vickers	OCBC	11	12.8	Buy	GGM, PB1.3x FY18
09/20/17	Credit Suisse	OCBC	11	10.9	Neutral
09/20/17	Macquarie	OCBC	11	12.2	Outperform
10/06/17	UOB Kay Hian	OCBC	11.25	13.38	Buy	GGM, PB1.39x FY18
10/09/17	DIR	OCBC	11.37	11.5	Hold
10/09/17	DBS Vickers	OCBC	11.37	12.8	Buy	GGM, PB1.3x FY18
10/09/17	Credit Suisse	OCBC	11.37	11.6	Neutral
10/20/17	phillip	OCBC	11.44	11.95	Accumulate
10/23/17	Macquarie	OCBC	11.49	12.2	Outperform
10/25/17	DBS Vickers	OCBC	11.46	12.8	Buy
10/27/17	UOB Kay Hian	OCBC	11.57	13.56	Buy	GGM, PB1.44x FY18
10/27/17	phillip	OCBC	11.57	13.48	Buy	GGM, PB1.44x FY18
10/27/17	CIMB	OCBC	11.57	12.6	Add	GGM, PB1.29x FY18
10/27/17	DBS Vickers	OCBC	11.57	13.5	Buy	GGM, PB1.3x Fy18
10/27/17	Lim & Tan	OCBC	11.57	0	Buy
10/27/17	Credit Suisse	OCBC	11.57	11.7	Neutral
11/01/17	UOB Kay Hian	OCBC	11.9	13.56	Buy	GGM, PB1.44x FY18
11/01/17	Deutsche	OCBC	11.9	12.3	Hold
11/20/17	Credit Suisse	OCBC	11.65	12.6	Neutral
11/20/17	CIMB	OCBC	11.65	12.6	Add
11/23/17	DBS Vickers	OCBC	12.01	13.5	Buy	GGM, PB1.3x FY18
12/01/17	UOB Kay Hian	OCBC	12.45	13.56	Buy	GGM, PB1.44x FY18
12/08/17	phillip	OCBC	12.12	13.48	Buy
12/20/17	CIMB	OCBC	12.25	12.6	Add
01/02/18	UOB Kay Hian	OCBC	12.39	13.56	Buy	GGM, PB1.44x FY18
01/05/18	DBS Vickers	OCBC	12.95	14	Buy	GGM, PB1.4x FY18
01/05/18	UOB Kay Hian	OCBC	12.95	14.88	Buy	GGM, PB1.58x FY18
01/09/18	Deutsche	OCBC	12.99	13.6	Hold
01/10/18	phillip	OCBC	12.91	13.48	Buy
02/05/18	Macquarie	OCBC	12.81	14	Outperform

Noble - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/16	DBS Vickers	Noble	0.395	0.42	Hold	PB1x
01/07/16	Credit Suisse	Noble	0.38	0.4	Neutral
01/07/16	OCBC	Noble	0.38	0.44	Hold
01/07/16	UOB Kay Hian	Noble	0.38	0.65	Hold
01/29/16	Religare	Noble	0.27	0.37	Buy
02/23/16	Lim & Tan	Noble	0.37	0	Neutral
02/25/16	Iceberg Research	Noble	0.34	0.1	Sell	Fraud alert
02/26/16	Credit Suisse	Noble	0.335	0.3	Neutral	PB0.4x
02/26/16	OCBC	Noble	0.335	0.39	Hold
02/29/16	DBS Vickers	Noble	0.355	0.32	Hold	PER5.3x & PB1x
03/01/16	Lim & Tan	Noble	0.345	0	Neutral
03/04/16	OCBC	Noble	0.38	0.39	Hold
04/08/16	Credit Suisse	Noble	0.415	0.3	Neutral
05/13/16	DBS Vickers	Noble	0.36	0.32	Hold
05/13/16	OCBC	Noble	0.36	0.34	Hold	PER7.5x FY16, Buy @ $0.30 or lower
05/18/16	Lim & Tan	Noble	0.33	0	Neutral
06/06/16	Lim & Tan	Noble	0.26	0	Neutral
08/12/16	Credit Suisse	Noble	0.155	0.15	Neutral	Ex-Rights 1-for-1 at $0.11
08/12/16	Lim & Tan	Noble	0.155	0	Neutral
08/15/16	DBS Vickers	Noble	0.148	0.175	Hold	PER7.7x FY17 & PB1x
09/20/16	Lim & Tan	Noble	0.139	0	Avoid
10/10/16	DBS Vickers	Noble	0.192	0.19	Hold	PER7.7x FY17 & PB1x
11/11/16	Credit Suisse	Noble	0.205	0.21	Neutral
11/14/16	DBS Vickers	Noble	0.195	0.2	Hold	PER7.7x FY17 & PB1x
02/14/17	Credit Suisse	Noble	0.197	0.21	Neutral
02/28/17	DBS Vickers	Noble	0.23	0.23	Hold	PB1x
05/12/17	Credit Suisse	Noble	0.87	0.8	Neutral
05/12/17	DBS Vickers	Noble	0.87	0.94	Hold	Stock consol 10-into-1
05/12/17	Macquarie	Noble	0.87	0.7	Underperform	Cut from $1.40
08/03/17	Iceberg Research	Noble	0.395	0	Sell	Bankruptcy alert
08/17/17	Lim & Tan	Noble	0.435	0	Sell/Avoid	Bankruptcy alert
11/21/17	Lim & Tan	Noble	0.193	0	Avoid

Stock calls for 8 February 2018

Date	Analyst	Company	Last	Target	Call	Valuation
02/08/18	NRA	Addvalue	0.042	0.079	Not Rated
02/08/18	Macquarie	DBS	25.36	27.5	Outperform
02/08/18	Lim & Tan	DBS	25.36	0	Buy
02/08/18	DMG & Partners	DBS	25.36	25	Neutral	PB1.3x FY18
02/08/18	UOB Kay Hian	First Resources	1.84	1.95	Hold	PER16x FY18x, Buy @ $1.75
02/08/18	DBS Vickers	MM2 Asia	0.495	0.75	Buy
02/08/18	DMG & Partners	Singtel	3.44	4.1	Buy
02/08/18	DBS Vickers	Singtel	3.44	4.3	Buy
02/08/18	Lim & Tan	Singtel	3.44	0	Buy on weakness
02/08/18	Macquarie	UOB	26.4	27.5	Neutral
02/08/18	CIMB	Venture	22.29	29.13	Add

Travel alert to Maldives.

https://www.theedgesingapore.com/singaporeans-urged-avoid-non-essential-travel-maldives-mfa

There is a coup going on in Maldives now.  Avoid travelling to Maldives!

Mathematicians say that bitcoin is a scam now!

https://www.bloomberg.com/news/articles/2018-02-07/bitcoin-may-evolve-into-what-everyone-fears-mathematicians-say

More and more people are saying that bitcoin is a scam.

If you still don't listen, you deserve to be burnt in bitcoin investment.

Chinese bike-sharing firm has gone bankrupt - Part 2

https://sg.finance.yahoo.com/news/china-bike-sharing-firm-no-1-bicycle-shutters-020150045--finance.html

Another casualty in China!

This is not surprising as we've been stating that bike sharing is a flawed business concept.

https://sg-stock.blogspot.sg/2017/11/chinese-bike-sharing-firm-has-gone.html

Netlink - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/20/17	DIR	Netlink	0.81	0.97	Buy	DCF
08/01/17	Deutsche	Netlink	0.815	0.95	Buy	DCF
08/29/17	DBS Vickers	Netlink	0.81	0.95	Buy	DCF
08/29/17	UOB Kay Hian	Netlink	0.81	0.93	Buy	DCF
09/25/17	UOB Kay Hian	Netlink	0.825	0.93	Buy
09/28/17	DIR	Netlink	0.825	0.97	Buy	DCF
11/10/17	DBS Vickers	Netlink	0.825	0.95	Buy	DCF
11/13/17	UOB Kay Hian	Netlink	0.825	0.93	Buy	DCF
01/12/18	UOB Kay Hian	Netlink	835	0.93	Buy
01/26/18	DBS Vickers	Netlink	0.83	0.95	Buy	DCF
02/07/18	UOB Kay Hian	Netlink	0.82	0.93	Buy	DCF
02/07/18	DBS Vickers	Netlink	0.82	0.97	Buy	DCF

Nera Telecom - Stock calls

Date	Analyst	Code	Company	Last	Target	Call	Percent	Valuation
02/25/16	Lim & Tan	N01	Nera Telecom	0.6	0	Hold	-100.00
02/29/16	DMG & Partners	N01	Nera Telecom	0.57	0.55	Neutral	-3.51	DCF, PER14.3x FY16
05/05/16	Lim & Tan	N01	Nera Telecom	0.625	0	Hold	-100.00
05/10/16	DMG & Partners	N01	Nera Telecom	0.635	0.55	Neutral	-13.39	DCF
05/23/16	DMG & Partners	N01	Nera Telecom	0.7	0.8	Trading Buy	14.29	DCF, PER12.6x ex-cash
05/23/16	UOB Kay Hian	N01	Nera Telecom	0.7	0.835	Buy	19.29	Sum of parts
06/15/16	UOB Kay Hian	N01	Nera Telecom	0.685	0.835	Buy	21.90
07/14/16	UOB Kay Hian	N01	Nera Telecom	0.68	0.835	Buy	22.79
08/03/16	Lim & Tan	N01	Nera Telecom	0.705	0	Hold	-100.00
08/04/16	DMG & Partners	N01	Nera Telecom	0.68	0.8	Trading Buy	17.65	DCF
08/04/16	Lim & Tan	N01	Nera Telecom	0.68	0	Trading Buy	-100.00
08/04/16	UOB Kay Hian	N01	Nera Telecom	0.68	0.835	Buy	22.79	Sum of parts
09/27/16	UOB Kay Hian	N01	Nera Telecom	0.735	0.835	Buy	13.61	Sum of parts
10/26/16	Lim & Tan	N01	Nera Telecom	0.73	0	Buy on weakness	-100.00
10/27/16	DMG & Partners	N01	Nera Telecom	0.735	0.8	Trading Buy	8.84
10/27/16	UOB Kay Hian	N01	Nera Telecom	0.735	0.835	Buy	13.61	Sum of parts
11/09/16	Lim & Tan	N01	Nera Telecom	0.775	0	Take profit	-100.00
11/10/16	UOB Kay Hian	N01	Nera Telecom	0.685	0.58	Sell	-15.33	PER14.6x FY17
02/22/17	Lim & Tan	N01	Nera Telecom	0.435	0	Sell	-100.00
05/05/17	Lim & Tan	N01	Nera Telecom	0.39	0	Hold	-100.00
08/07/17	Lim & Tan	N01	Nera Telecom	0.39	0	Hold	-100.00

Stock calls for 7 February 2018

Date	Analyst	Company	Last	Target	Call	Valuation
02/07/18	CIMB	China Sunsine	1.13	1.5	Add
02/07/18	OCBC	City Developments	12.76	15.3	Buy
02/07/18	CIMB	Genting	1.27	1.45	Add
02/07/18	CIMB	Keppel Corp	8.19	10	Add
02/07/18	DBS Vickers	Manulife US Reit	0.91	1	Buy	DCF
02/07/18	CIMB	MM2 Asia	0.49	0.76	Add
02/07/18	UOB Kay Hian	Netlink	0.82	0.93	Buy	DCF
02/07/18	DBS Vickers	Netlink	0.82	0.97	Buy	DCF
02/07/18	CIMB	Sembcorp Marine	2.71	2.49	Neutral	Buy @ $2
02/07/18	CIMB	SGX	7.88	8.5	Add	PER24x FY19
02/07/18	DMG & Partners	SGX	7.88	9	Buy	PER24x FY19
02/07/18	OCBC	SGX	7.88	8.16	Hold
02/07/18	Kim Eng	SGX	7.88	8.82	Buy	PER23x FY19
02/07/18	DBS Vickers	SGX	7.88	8.9	Buy	DDM, PER21x FY19
02/07/18	OCBC	Singtel	3.42	4.19	Buy
02/07/18	OCBC	ST Engineering	3.23	4	Buy
02/07/18	CIMB	ST Engineering	3.23	3.85	Add
02/07/18	CIMB	Sunningdale	1.86	2.79	Add
02/07/18	OCBC	UOB	26.62	30.1	Buy
02/07/18	OCBC	UOL	8.71	9.7	Buy
02/07/18	CIMB	UOL	8.71	9.62	Add
02/07/18	CIMB	Venture	22.48	24.74	Add
02/07/18	OCBC	Yoma	0.48	0.55	Buy

Goldman Sachs gives the harshest rating on cryptocurrency.

https://www.bloomberg.com/news/articles/2018-02-07/get-ready-for-most-cryptocurrencies-to-hit-zero-goldman-says

When a cryptocurrency has no genuine use except for a speculative purpose, it will come to a naught in a time to come.

When more governments and merchants are banning and forsaking crypto trading and crypto paying system but the crypto prices are still moving higher, we know that the crypto exists only for a speculative purpose and it will be decimated in the future.

The 1st delistment, CWG, in 2018.

https://sg.finance.yahoo.com/news/cwg-international-proceed-delisting-public-043456311.html

CWG will be the first delistment from SGX in 2018.  SGX is undergoing a structural change currently, from a securities exchange to a derivatives exchange because companies prefer to list in overseas stock exchanges due to higher liquidity and valuation.

When SGX top management doesn't understand the capital market, we will lose more companies to overseas stock exchanges.

http://sg-stock.blogspot.sg/2018/02/it-seems-that-sgx-is-kicked-out-of.html

Bitcoin rebounds because of ignorant millennium investors

https://sg.finance.yahoo.com/news/bitcoin-slides-below-6-000-half-value-lost-082627524--sector.html

The millennium investors who are ignorant and foolish will buy bitcoins now as they've been deceived by bitcoin proponents.  The millennium investors are buying bitcoins without any careful consideration for the outcome of G20 summit in March 2018.  If the G20 summit comes out with harsh regulations for Crypto, bitcoin will continue on its downward trajectory.

The 1st derivative product, XIV, imploded because of the recent market rout.

https://www.cnbc.com/2018/02/06/the-obscure-volatility-security-thats-become-the-focus-of-this-sell-off-is-halted-after-an-80-percent-plunge.html

XIV, the opposite of VIX, is the first derivative product to collapse after the recent market rout.  Many big investors and fund managers will lose big money because they cannot unwind the XIV contracts and will have to settle for any sum offered by Credit Suisse.