ASIAN stocks will be trading on Thursday after an expected
Fed rate hike.
Despite the hike, the path of rate hikes for the rest of the
year was not as steep as feared, analysts said.
That is a positive for commodity-linked and equity-flow-driven
emerging market currencies as the fear of a stronger dollar and higher US rates
gets dispelled, said Citi Research. These include the Korean, Indian,
Indonesian and Malaysian currencies, it said.
In Singapore, interest rate-sensitive real estate investment
trusts (Reits) might see trading upon expectations of rate hikes being reset to
three this year.
Property stocks remain in the limelight after the government
surprised with a slight tweak to cooling measures last week.
Reiterating its "neutral" stance on the sector,
Maybank Kim Eng Research said on Wednesday that demand from occupiers remains
weak while high land prices drag on developer profitability.
"We believe the market should curb their enthusiasm on
outperformers and switch to laggard, UOL, after the recent sector rally,"
the broker said.
Meanwhile, Super Group said on Thursday morning that its
offer by Jacobs Douwe Egberts has turned unconditional in all respects, and the
closing date for the offer has been extended to April 25. This means the
takeover attempt will be proceeding as planned given that it has been accepted
by more than half of existing shareholders.
Shares owned, controlled, or agreed to be acquired by the
offeror and concert parties amounted to 56.09 per cent of the company's issued
share capital as of March 15.
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