Wednesday, 2 January 2013

02 January 2013~ Good Morning Singapore!


Singapore Idea Snippets:
Singapore News

Singapore’s gross domestic product rose an annualized 1.6 percent in the three months through Dec., from the previous quarter, according to the median of 11 estimates in a Bloomberg News survey. The Ministry of Trade & Industry will release final data at 8 a.m. Singapore’s economy grew 1.2% in 2012, Prime Minister Lee Hsien Loong said in a new year message. The GDP is expected to grow 1 percent to 3 percent in 2013, he said.


* Fraser & Neave (FNN SP) extended deadline expires for Thai billionaire Charoen Sirivadhanabhakdi’s $7.3b bid for F&N; competing higher bid from group led by Overseas Union Enterprise expires Jan. 3; Co. reports JPMorgan says Kirin’s offer for F&N’s food and beverage business is ‘fair but not reasonable, from a financial point of view.’
* Jaya Holdings (JAYA SP) names Chong Chow Pin as CFO
* China Aviation Oil (CAO SP) signs term contracts with BP Singapore; continues collaboration agreement suspension
* DBS Group (DBS SP) completes purchase of 30% stake in Marina Bay Financial Centre Tower 3


MARKETS:
S&P 500 closed Dec. 31 at 1,426.19
Stoxx Europe 600 closed Dec. 31 at 279.68
MSCI Asia Pacific closed Dec. 31 at 129.40
Straits Times Index closed Dec. 31 at 3,167.08


ECONOMY:
* Singapore 4Q preliminary home prices

(Bloomberg)

Malaysian News

Global investors boosted holdings of Malaysian local-currency debt by two percent in November from a month earlier to an all-time high of 226.3 billion ringgit ($74 billion), according to data published on the central bank’s website. The value of securities owned by overseas investors rose 34 percent from the same month in 2011 and surpassed the previous record of 221.9 billion ringgit reached at the end of October, the monthly data showed.


EQUITY MOVERS:
* Crescendo (CCDO MK): 3Q net profit falls to 10.1m ringgit from 21.7m ringgit yr earlier
* Kim Loong (KIML MK): 3Q net income drops to 8.8m ringgit from 23.6m ringgit yr ago
* Malaysia Airports (MAHB MK): Targets 2013 ebitda of 751m ringgit; passenger growth of 7.1% vs 4.6% in 2012
* Sentoria (SNT MK): Signs joint-venture agreement with Sieremas to develop land in Selangor into houses, commercial units; expected sales from project estimated at 1.6b ringgit


MARKETS:
* Malaysia’s FTSE Bursa Malaysia KLCI Index advanced 0.5 percent Dec. 31
* The MSCI Asia Pacific Index little changed Dec. 31
* The Dow Jones Industrial Average rose 1.3 percent Dec. 31
* Palm oil Mar-delivery futures declined 2.4 percent Dec. 31

(Bloomberg)

Asian News

Today: Singapore GDP, South Korea, Indonesia and India manufacturing PMI, Indonesia trade and inflation, Thai CPI; New Zealand, Japan, China markets closed.


WHAT TO WATCH:
* U.S. House republicans will probably add more spending cuts to a bipartisan budget bill passed by the U.S. Senate
* U.S. stocks surged on the last day of a year by the most since 1974 as lawmakers neared a budget deal
* China’s Purchasing Managers’ Index expanded for a third month, evidence the recovery will extend into the new year
* Billionaire Charoen Sirivadhanabhakdi needs to have more than 50% of Fraser & Neave by today to prevent his bid from failing
* Posco agreed to buy a stake in ArcelorMittal Mines Canada, with Maeil and Yonhap newspapers reporting value at up to $1.1b
* Sharp says it’s considering increasing capital after Yomiuri newspaper reports possible $1.2b in fund raising
* Nissan President Carlos Ghosn says the yen is far from “neutral territory” of about 100 to the dollar
* Thousands take to the streets of Hong Kong, demanding the resignation of CEO Leung Chun-ying
* Singapore growth estimate suggests the economy probably contracted in the fourth quarter, slipping into recession
* Live Nation Chairman Irving Azoff resigns and sells stock to Liberty Media
* Herbalife, a stock shorted by hedge fund manager Bill Ackman, rose the most in more than seven months on Dec. 31


ECONOMY (Hong Kong time):
* 7am: Australia Dec. RPData-Rismark House PX Actual; no est. (prior unch.)
* 8am: Singapore 4Q GDP (annualized) Q/q; est. 1.6% (prior -5.9%)
* 8am: Singapore 4Q GDP Y/y; est. 1.4% (prior 0.3%)
* 8:01am: South Korea Dec. HSBC Manufacturing PMI; no est. (prior 48.2)
* 10am: Taiwan Dec. HSBC Manufacturing PMI; no est. (prior 47.4)
* 11am: Indonesia Dec. Markit Manufacturing PMI
* 12pm: Indonesia Dec. Inflation NSA M/m; est. 0.54% (prior 0.07%)
* 12pm: Indonesia Dec. Inflation Y/y; est. 4.20% (prior 4.32%)
* 12pm: Indonesia Nov. Exports Y/y; est. -7.0% (prior -7.6%)
* 12pm: Indonesia Nov. Total Imports Y/y; est. 7.0% (prior 10.8%)
* 12pm: Indonesia Dec. Core Inflation Y/y; est. 4.39% (prior 4.40%)
* 12pm: Indonesia Nov. Total Trade Balance; est. -$409M (prior -$1547M)
* 1pm: India Dec. Markit Manufacturing PMI
* 1:30pm: Australia Dec. RBA Commodity Price Index; no est. (prior 87)
* 1:30pm: Australia Dec. RBA Commodity Index SDR Y/y; no est. (prior -11.6%)
* TBA: Thailand Dec. Consumer Price Index NSA M/m; est. 0.04% (prior -0.35%)
* TBA: Thailand Dec. Consumer Price Index Y/y; est. 3.20% (prior 2.74%)
* TBA: Thailand Dec. Core CPI Y/y; est. 1.80% (prior 1.85%)
* Macau reports Dec. casino revenue; Stern Agee expects record


CENTRAL BANKS:
* Nothing major scheduled


GOVERNMENT:
* 12:20pm: South Korea Finance Minister Bahk Jae-Wan gives new year speech, Seoul


EARNINGS:
* Country Garden (2007 HK) 3Q


BOND SALES (Hong Kong time):
* 12pm: Bank Negara to Sell 1.5b Ringgit 91-Day Islamic Notes
* 5:30pm: Sri Lanka to Sell 91-Day Bills
* 5:30pm: Sri Lanka to Sell 182-Day Bills
* 5:30pm: Sri Lanka to Sell 364-Day Bills


IPO WATCH:
* Nothing major scheduled


CORPORATE EVENTS/CONFERENCES (Hong Kong time):
* NA: Thai Bev deadline for F&N bid
* 7am: Hyundai Motor, Kia target for 2013
* 9am: Samsung Heavy outlook for 2013
* 4:30pm: Fubon Financial (2881 TT) conf call on purchase of First Sino Bank 855 5003713 or 0808 2342782, pin FUBON
* Country Garden board meeting


STOCKS TO WATCH
* Hong Kong Highlights
* BYD Electronic (285 HK): Renews transactions agreement with BYD Group
* China Railway Cons. (1186 HK): To invest 10b yuan in Zhuhai city project
* North Asia Resources (61 HK): Extends placing period to Jan. 31
* India Highlights
* Kingfisher Airlines (KAIR IN): Operating license expired yday
* South East Asia Highlights
* Fraser & Neave (FNN SP): Thai billionaire Charoen Sirivadhanabhakdi’s bid expires
* Malaysia Airports (MAHB MK): Targets 2013 Ebitda of 751m ringgit; passenger growth of 7.1% vs 4.6% in 2012


MARKETS:
* S&P 500 up 1.7% to 1,426.19
* Stoxx Europe 600 up 0.3% to 279.68
* U.S. 10-year yield at 1.758%
* Brent futures up 0.4% to $111.11/bbl
* Feb. gold futures up 1.2% to $1,675.80/oz

(Bloomberg)


US Stock News

WALL STREET: Stocks rise as Washington budget debate continues. Indexes opened weak but trended up all session to close hear the highs.
* S&P 500 +1.69% to 1426.19
* DJIA +1.28% to 13104.14
* Nasdaq 100 +2.09% to 2660.931
* Gold up 1.11% to $1674.3
* WTI Crude up 0.99% to $91.7
* 10-yr Treasury +5.65bp to 1.7574%
* All prices as of 4:22pm in New York


MAJOR STORY:
* U.S. budget debate continues
* House Plans No Votes On U.S. Budget Tonight
* House Republicans to Hold Private Conference at 5pm
* Senate Republicans Said to Plan 4:30pm Caucus Meeting
* Reid Hasn’t Signed Off on Fiscal Cliff Tax Deal, Aide Says


TOP NEWS:
* LodgeNet to File Chapter 11, Recapitalize With Colony
* Syndicate led by affiliate of Colony Capital to provide $60m in new capital, owns 100% after transaction
* Live Nation Entertainment Chairman Irving Azoff will exit co.
* S&P 500 gains 13.4% in 2012 for best annual gain since 2009


MARKET DATA:
* S&P 500 +1.69%; DJIA +1.28%; Nasdaq 100 +2.09%
* S&P 400 +1.61%; S&P 600 +1.96%; Russell 2K +2.07%; SOX +1.91%; KBW +1.36%
* CLF AMD PSX BBY FTI gained most in the S&P 500
* S&P 500: 495 stocks, 99% of the index, climbed
* 10 of 10 S&P sector groups positive
* Tech +2.16%, energy +2.09%, materials +2.01%, consumer discretionary +2%, industrials +1.87%
* Utilities +1.39%, financials +1.38%, health care +1.22%, telecom +1.14%, consumer staples +1.11%
* HPQ CAT GE AA BAC led in the DJIA; 30 components positive
* SHLD AAPL EA FOSL NFLX led to the upside in the Nasdaq 100; 98 components positive
* Advancers beat decliners 17.7 to 1 on the NYSE
* Total number of shares traded 6.064b; above 100-DMA


RISK ON/RISK OFF:
* VIX Index down 20.69% to 18.02
* ON:
* SPDR-Consumer Discretionary up 2% to 47.4391
* iShares MSCI Emerging Markets up 1.49% to 44.35
* MSCI Emerging Markets up 0.16% to 1056.91
* OFF:
* iShares DJ U.S. Healthcare Sector up 1.25% to 83.51
* SPDR-Consumer Staples up 1.31% to 34.9


TREASURIES:
* 30-yr +8.27bp to 2.9499%
* 10-yr +5.65bp to 1.7574%
* 2-yr +0.03bp to 0.2468%


CURRENCIES:
* Dollar Index Spot up 0.14% to 79.791
* Euro/dollar down 0.17% to 1.3193
* GBP/dollar up 0.48% to 1.6231
* Dollar/Yen down 0.92% to 86.76


COMMODITIES:
* Oil hits 2-mo. high
* Metals:
* Gold up 1.11% to 1674.3
* Silver up 0.85% to 30.173
* Copper up 1.63% to 364.8
* Aluminum up 0.48% to 2046.5
* Platinum up 1.4% to 1538.7
* China import iron ore benchmark grade up 3.95% to 144.9
* Fuels:
* WTI Crude up 0.99% to 91.7
* Nat Gas down 2.85% to 3.37
* Gasoline up 0.43% to 281.2
* Heating Oil up 0.01% to 304.51
* Agriculture:
* Corn up 0.61% to 698.25
* Wheat down 0.1% to 778
* Orange Juice down 7.53% to 116.05
* Soybeans down 0.37% to 1418.75
* Coffee down 2.08% to 143.8
* Cotton up 0.64% to 75.14
* Sugar up 0.46% to 19.51
* Cocoa down 0.58% to 2236


MERGERS & ACQUISITIONS:
* JHP Pharma (Private) Acquired by Warburg Pincus for $195m
* Vitamin Shoppe Extends Super Supplements Purchase Deadline
* FTC Investigates Vitamin Shoppe’s Purchase of Super Supplements


GOVERNMENT:
* Wind Tax Credit Said to Be Extended Under Tentative Budget Deal
* Details of Tentative Fiscal Cliff Deal
* U.S. Downgrade Risk Remains Even If Fiscal Deal Reached: Mizuho


EUROPE:
* European stocks were little changed amid U.S. budget debate
* First Word Europe wrap
* First Word European crisis wrap
* CAC 40 up 0.58%
* DAX down 0.57%
* IBEX 35 up 0.45%
* FTSE MIB down 0.82%
* Swiss Market Index down 0.58%

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