Wednesday, November 2, 2016

Market Update before the US Election



Singapore market was down 7 points today to 2807, the weak sentiment is mainly due the United States Presidential elections 2016 as it is due on the 8th of November, just next tuesday.  Overall market has been pretty range bound for the past few month for the singapore market, and for Hong kong and US market it seems like investors are taking profits off the table after the recent rallies, investors are not sure who will be elected and what will happen after the election hence putting profits into their pockets could be a good choice this week.

Some friends asked about Starthub..
Starhub result is out, net profit for Q3 is down by 28% compared to last year, due to lower profit from their operations and also higher interest expenses. Overall I am not keen in any of the telco sector as we can see they are downtrending and also weaker than the market. M1 has fallen near 50% since 2015, starhub falls about 25%, among the 3 telco singtel is the strongest by falling the least, only 15% over the past 2 years.

Interesting counter for this week:
OUE limited attributable profit surges to S$107.6 million in 3Q 2016
Increase in revenue by more than four times from S$99.0 million in 3Q 2015 to S$419.1 million.

I see that Gold price is creeping up as the US dollar weaken, it seems that the investors are running for safe havens before the elections. I think we can look into Gold Etf or Gold miners during this period of market uncertainty.

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