Monday, 31 December 2012

31 December 2012~ Good Morning Singapore!


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Singapore Idea Snippets:
Asia Stocks

Keppel Land Ltd. (KPLD SP) said its China unit secured a prime city center site for mixed-use development in China for about S$82 million ($67 million),
comprising 1,135 high-rise residential apartments and commercial components, according to a statement to the Singapore stock exchange.

Gross domestic product contracted in the final three months of 2012 from the previous quarter, according to five of 10 economists in a Bloomberg News survey, where the median was for an annualized expansion of 0.3 percent. A decline would lead to the country’s first recession since 2009. The report will be released at 8 a.m. on Jan. 2.

* SC Global (SCGD SP) says CEO Simon Cheong “has no intention of increasing the offer price” of S$1.80/shr. There is currently no discussion with Wheelock Properties with respect to any merger, co. says in separate filing
* KS Energy (KST SP) says unit bought jack-up drilling rig for $68.2m
* Sim Lian Group (SLG SP) says joint venture co. gets new mixed development contract
* Chip Eng Seng (CHIP SP) names Raymond Chia Lee Meng as executive deputy chairman
* Sky China Petroleum (SKYP SP) expects net loss for financial year
* Scintronix (SCIN SP) reports accepts offer for sale of property in Senai Johor, Malaysia
* Prime Minister Lee Hsien Loong issues statement on the outlook for 2013 at 6 p.m.


MARKETS:
S&P 500 down 1.1% to 1,402.43
Stoxx Europe 600 down to 278.78
MSCI Asia Pacific up 0.6% to 129.61
Straits Times Index rose 0.3% to 3,191.8


ECONOMY:
* Singapore plans to sell S$2 billion of 91-day notes
* Singapore will release its monthly data for credit card bad debts, bank loans and advances and money supply


Today: China manufacturing PMI, South Korea and Sri Lanka CPI; Japan, South Korea, Taiwan, Indonesia, Thailand, Philippines, Vietnam markets closed; Hong
Kong, Australia, Singapore, New Zealand close early.

WHAT TO WATCH:
* Click here for market closures
* U.S. Senate Democrats reject Republican offer to resolve fiscal crisis as talks continue
* China’s central bank focuses on controlling financial system risk in possible signal of concern about non-bank lending
* China asks IPO advisers to inspect clients’ financial statements as regulators combat fraud
* China cuts rare earth export quotas; watch producers Chalco, Inner Mongolia Baotou Steel, Maanshan Dingtai Rare Earth
* KKR considers $2.9b bid for Trader Media, Sunday Times reports
* Carlyle is expected to pay > $600m for Duff & Phelps, WSJ reports
* RBS will cut bonuses to cover Libor fines, Sunday Times says


ECONOMY (Hong Kong time):
* 7am: Korea Dec. Consumer Price Index M/m; est. 0.2% (prior -0.4%)
* 7am: Korea Dec. Consumer Price Index Y/y; est. 1.5% (prior 1.6%)
* 7am: Korea Dec. Core Consumer Price Index Y/y; no est. (prior 1.3%)
* 8:30am: Australia Nov. Private Sector Credit M/m; est. 0.2% (prior 0.1%)
* 8:30am: Australia Nov. Private Sector Credit Y/y; est. 3.7% (prior 3.8%)
* 9:45am: China Dec. HSBC Manufacturing PMI; est. 50.9 (prior 50.5)
* 10am: Singapore Nov. Credit Card Bad Debts; no est. (prior S$18.8m)
* 10am: Singapore Nov. Credit Card Billings; no est. (prior S$3.36b)
* 10am: Singapore Nov. Bank Loans& Advances Y/y; no est. (prior 17.9%)
* 10am: Singapore Nov. M1 Money Supply Y/y; no est. (prior 4%)
* 10am: Singapore Nov. M2 Money Supply Y/y; no est. (prior 5.4%)
* 4:30pm: Hong Kong Nov. Budget Surplus/Deficit; no est. (prior HK$21.5b)
* 5pm: Hong Kong Nov. Money Supply M1 Y/y; no est. (prior 13.1%)
* 5pm: Hong Kong Nov. Money Supply M2 Y/y; no est. (prior 10%)
* 5pm: Hong Kong Nov. Money Supply M3 Y/y; no est. (prior 10%)
* 5:30pm: Sri Lanka Dec. CPI Moving Average Y/y; est. 7.6% (prior 7.2%)
* 5:30pm: Sri Lanka Dec. CPI Y/y; est. 9.3% (prior 9.5%)
* 7:30pm: India 3Q Current Account Balance; est. -$23.5b (prior -$16.4b)
* TBA: India Nov. Fiscal Deficit; no est.


CENTRAL BANKS:
* Nothing major scheduled


GOVERNMENT:
* 6pm: Singapore PM’s New Year speech


EARNINGS:
* Nothing major scheduled


BOND SALES (Hong Kong time):
* 11:30am: Hong Kong to Sell HK$1.3b 365-Day Bills
* 12pm: Singapore to Sell S$2b 91-Day Bills
* 12am: India to sell 60b-70b Rupees 10-14yr bonds
* 12am: India to sell 20b-30b Rupees 15-19yr bonds
* 12am: India to sell 30b-40b Rupees 5-9yr bonds


IPO WATCH:
* Nothing major scheduled


CORPORATE EVENTS/CONFERENCES (Hong Kong time):
* Nothing major scheduled


STOCKS TO WATCH
* Greater China Highlights
* Rare earth producers: China cuts export quota as demand drops; Chalco (2600 HK); Inner Mongolia Baotou Steel (600111 CH), Maanshan Dingtai Rare Earth (002352 CH)
* China Railway Construction (601186 CH): Withdraws application for placement

* India Highlights
* Dewan Housing (DEWH): Says competition commission approves merger

* South East Asia Highlights
* Keppel Land (KPLD SP): China unit gets city center site for mixed-use development for ~S$82m ($67m)
* SC Global (SCGD SP): CEO says no intention to raise offer price for co.


MARKETS:
* S&P 500 down 1.1% to 1,402.43
* Stoxx Europe 600 down 0.7% to 278.78
* U.S. 10-year yield at 1.701%
* Brent futures down 0.2% to $110.62/bbl
* Feb. gold futures down 0.5% to $1,655.90/oz



US Stocks


U.S. stocks posted their fifth straight losing day Friday. Stocks opened lower as investors worried over the approaching "fiscal cliff," with declines accelerating at the end of the day on reports that President Barack Obama wouldn't make a new budget proposal in a meeting with congressional leaders.
The Dow Jones industrial average fell 158.20, or 1.2 percent, to 12,928.11.
The Standard & Poor's 500 fell 15.67, or 1.1 percent, to 1,402.43.
The Nasdaq composite index fell 25.59, or 0.9 percent, to 2,960.31.

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