Market Summary
Monday, 3rd of September 2018
#Asian markets started Monday on a negative note as trade tensions returned to the fore with Donald Trump eyeing fresh tariffs on a swathe of Chinese goods and Nafta talks with Canada hitting a wall.

Japan's Nikkei ended the morning session 0.5 per cent lower, Hong Kong lost 0.9 per cent and Shanghai fell one percent. Singapore lost 0.4 per cent, Seoul shed 0.6 per cent and Sydney was marginally lower.

There were also losses in Wellington, Taipei, Manila and Jakarta.

The optimism that flowed through trading floors at the start of last week has been replaced by a now-familiar sense of dread after the US president hit out at Ottawa over the weekend as the two sides struggle to hammer out a new deal.

The Straits Times Index $STI(^STI.IN) also moved south with a 6.28 points or 0.2% lower to 3,207.20
Active stocks include $DBS(D05.SI) flat at $24.950, $SingTel(Z74.SI) drop 3 cents to $3.200, $UOB(U11.SI) drop 28 cents to $26.780 while $Genting Sing(G13.SI) gained 4 cents to $1.110 and $CapitaLand(C31.SI) drop 1 cent to $3.420.
Losers outnumbered gainers by 240 / 154

The STI components with 11 counters as gainers, 5 counters remain unchanged while 14 counters were losers.
Banks and Telcos might have pulled down the Indices or investors staying sideline.

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Thanks bro Anthony!


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Singtel Q2 profit plunges 77% to S$667m on absence of year-ago exceptional gain

SINGTEL's second quarter net profit plunged 77 per cent to S$667 million from the previous year. This was due to a net exceptional loss of S$48 million, comprised mainly of staff restructuring costs, compared to a net gain of S$1.94 billion in the year-ago period which came mainly from the sale of units in NetLink Trust in the last corresponding quarter.

The telco said on Thursday its second-quarter results were "adversely impacted" by negative currency movements and various headwinds, including lower National Broadband Network (NBN) migration revenues in Australia, decline in voice revenues and lower associates’ contributions from Airtel and Telkomsel on intense competition.

For the three months ended Sept 30, revenue was flat at S$4.27 billion and would have grown 3.9 per cent in constant currency terms with higher equipment sales, the telco said. 

Its Singapore consumer segment reduced churn for the quarter. Operating revenue was up 4.8 per cent to S$555 million, propelled by a strong increase in equipment sales on launches of higher priced popular handsets for the quarter, while ebitda (earnings before interest, tax, depreciation and amortisation) declined 7.4 per cent to S$180 million with lower contribution from the higher margin legacy carriage services and absence of Singtel TV sub-licence revenue for the Premier League.

Its group enterprise segment posted a 4.1 per cent drop in operating revenue to S$1.6 billion on lower info-communications technology (ICT) sales due to the lumpy nature of ICT deals which saw some major project completions last year, as well as continued declines in traditional legacy services, especially voice. Ebitda fell 4.8 per cent accordingly to S$440 million.


Basic earnings per share fell to 4.09 Singapore cents from 17.49 Singapore cents in the year-ago period. 

The board approved an interim dividend of 6.8 Singapore cents per share for the half year ended Sept 30, 2018, unchanged from a year ago, although shareholders also received a special dividend of three cents a share last year from the S$2.3 billion bonanza from the NetLink Trust sale.

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Good pick of the day, Agree !! YES, or NO
$DBS(D05.SI) $24.240/-
$OCBC Bank(O39.SI) $10.630
$UOB(U11.SI) $25.150/-

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