Singapore Stock Exchange
Index snaps 10-day decline; ThaiBev leads
Alex Gray
Publish date: Thu, 29 Aug 2013, 05:19 PM
Alex Gray
0 413
It is the high time to make the most of your surplus money. We offers free real time tips and recommendations for Stock Market, Forex, Commodity, Live Stock Market Data and more. invest with our tips and enjoy bigger profits on your small investment.
simply leave a contact no and email address or take a free trial now.
simply leave a contact no and email address or take a free trial now.
Singapore shares rose, snapping a 10-day losing streak, led by a 7 percent jump in shares of Thai Beverage PCL, while Olam International Ltd posted its sharpest daily fall in nearly nine months, ahead of its results.
The benchmark Straits Times Index gained half a percent to 3,019.01 points, recovering from a nine-month low hit on Wednesday and taking a breather from 10 straight sessions of losses during which it fell 7.5 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 1 percent.
Nomura analysts said the recent turmoil in regional markets stemmed from the unwinding in fixed income and subsequent pressure on local currencies, rather than the dire outlook on economic growth. It is too soon to call a bottom to the downfall in a number of Asian markets, but Singapore, alongside Taiwan, Korea and China, are appealing, they said.
"These markets offer not only the comparative insulation of stronger external balances and more stable currencies, but also are generally more directly leveraged to the strengthening developed market demand that ultimately is the factor ushering U.S. Treasury yields higher," Nomura analysts said in a research note.
Thai Bev shares jumped as much as 7.1 percent to S$0.45, bouncing from a seven-month low of S$0.42 hit in the previous session, after Fraser and Neave Ltd, controlled by Thai Bev's owner, laid out plans to spin off its property arm.
"Moody's believes the spin-off will facilitate moves by ThaiBev to better leverage revenue and cost synergies with F&N's food & beverage business, while the latter -- in the absence of its property business -- can better focus on expanding," Moody's Investors Service said in a note.
Olam shares dropped as much as 4.6 percent to S$1.44, just before the company is due to report quarterly results after the market closes.
stock recommendation for tomorrow at http://goo.gl/jOzjfo
The benchmark Straits Times Index gained half a percent to 3,019.01 points, recovering from a nine-month low hit on Wednesday and taking a breather from 10 straight sessions of losses during which it fell 7.5 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 1 percent.
Nomura analysts said the recent turmoil in regional markets stemmed from the unwinding in fixed income and subsequent pressure on local currencies, rather than the dire outlook on economic growth. It is too soon to call a bottom to the downfall in a number of Asian markets, but Singapore, alongside Taiwan, Korea and China, are appealing, they said.
"These markets offer not only the comparative insulation of stronger external balances and more stable currencies, but also are generally more directly leveraged to the strengthening developed market demand that ultimately is the factor ushering U.S. Treasury yields higher," Nomura analysts said in a research note.
Thai Bev shares jumped as much as 7.1 percent to S$0.45, bouncing from a seven-month low of S$0.42 hit in the previous session, after Fraser and Neave Ltd, controlled by Thai Bev's owner, laid out plans to spin off its property arm.
"Moody's believes the spin-off will facilitate moves by ThaiBev to better leverage revenue and cost synergies with F&N's food & beverage business, while the latter -- in the absence of its property business -- can better focus on expanding," Moody's Investors Service said in a note.
Olam shares dropped as much as 4.6 percent to S$1.44, just before the company is due to report quarterly results after the market closes.
More articles on Singapore Stock Exchange
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Latest Videos
Apps
Top Articles
1
SGX Market Updates
SIA Engineering Resumes Buybacks After Reporting H1 FY2025 Results
2
CEO Morning Brief
Singapore Airlines Vows to Expand Capacity Despite Rising Competition
3
RHB Investment Research Reports
United Overseas Bank - 2025 Shaping Up to be An Interesting Year
4
THE SINGAPOREAN INVESTOR
DBS, UOB, or OCBC - Which Bank Had the Best Performance for Q3 and 9M FY2024?
5
RHB Investment Research Reports
OCBC Bank - More Patience Needed on Capital Management Plans
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
