Leading all segments were gains in management and technical consulting services and computer systems design. – U.S.
employment numbers released Jan. 7 by the Department of Labor’s Bureau of
Statistics revealed a net gain of 9,600 in IT-related jobs in December,
representing the seventh straight month of positive job growth in IT labor
segments in federal employment data.
Five bellwether IT job segments…
Activity in Singapore’s manufacturing sector grew for a third straight month in December but at a slightly slower pace than in the previous month due to sluggish growth in new orders, a survey showed on Tuesday. The Institute of Purchasing & Materials Management said its overall purchasing managers’ index (PMI) in December dipped 0.7 point from November to 50.7, while its PMI for the electronics sector slipped 1 point to 52.2.
{jcomments on}
Credit Suisse keeps the Asia container shipping sector at Overweight, noting China outbound freight rate and utilisation on major trades rebounded last week after weeks of decline, with cargo volumes starting to recover ahead of the Lunar New Year holiday.
The house also notes leading indicators such as the US ISM and China PMI new export orders for December continued to expand on-month and it views as suggesting decent Asian exports in the next few months, while the latest US and European consumer sentiment and retail data also point toward an improving demand outlook.
Goldman Sachs downgrades the Asian airline sector to Neutral from Attractive following the sector’s outperformance in 2H 2010.
“Our downgrade is underpinned by three key reasons: (1) slower traffic growth momentum expected; (2) rising unit costs to result in margin pressure; and (3) sector appears fairly valued.”
Says investors should be selective in 2011, prefers Buy-rated Cathay Pacific (0293.HK), Singapore Airlines (C6L.SG), and CEA H- (0670.HK) and A-shares (600115.SH).
DBS Vickers advocates a “selective stockpicking stance” in Singapore’s property sector in 2011; it says the sector is trading at mid-cycle valuations and stock performances “will continue to be led by volatile macroeconomic news flow.”
It adds, the office sector has ongoing re-rating catalysts, supported by the office upcycle and further details on the M+S JV (60% owned by Malaysia, 40% held by Temasek).
CIMB remains Neutral on dry bulk shipping, as it believes the sector “is in for rough seas in 2011-2012 as supply growth is outstripping demand, particularly for capesize.”
The house says the BDI dropped 3.4% last week, and has declined 9.5% over the past month, dragged by the capesize sector where rates ended last week 26% below the Nov. 12 close.
Prime Minister Dr. Manmohan Singh on Tuesday said India”s corporate sector is poised to become the Indian economy”s main engine of growth. Addressing at the inaugural session of the India Corporate Week here, Dr. Singh said: “India”s corporate sector is poised to become the main engine of growth for the Indian economy. The responsibility it [...]
Beyonics Technology’s (B19.SG) recent weakness appears to have run its course, as the shares are currently not trading despite just-released results showing a $2.8 million net loss for the quarter to end October vs a $2.0 million profit in fiscal 1Q10.
Coupled with hot capital inflows pouring into Asia, says it’s likely that spot rental rates and asset prices will continue to be inflated. “At the same time, many REIT managers are capitalizing on the recovery cycle for further asset enhancement initiatives and acquisitions.”
Can you just point out a single sector that doesnt require any graphic work in the present world? It is at most sure that you wont be able to find out even a single one even if you sit and think for hours together.
HSBC says Singapore Airlines (C6L.SG) one of top picks among Asian conglomerates, transport stocks, as remains “positive on passenger driven airlines, hotels and conglomerates leveraged to Asian consumption.”
Global sales of disk-based storage arrays posted another double-digit gain in Q3 2010 following a 21 percent rise in Q2. – The good financial news continues for the solid-as-a-rock data storage
industry.
Global sales of disk-based storage arrays, which had grown only slightly during
2008 and 2009, posted another double-digit gain in the third quarter of 2010
following a 21 percent rise in the second quarter, indus…
Multi-year bull cycle awaits Singapore offshore & marine companies as demand for rigs expected to be strong from 2011-2013, says CIMB.
Forecasts orders for 167 rigs worth combined US$74 billion ($96.8 billion), including orders from Petrobras, to be placed globally in next 3 years.
OCBC expects oil & gas companies with expertise in deepwater production to fare better vs those limited to shallow waters in 2011.
“The demand for premium deeper water jack-ups has returned, and Keppel Corp. (BN4.SG) and SembCorp Marine (S51.SG) are likely to see more of such high-spec orders.”
Information Technology (IT) giant Infosys chairman N.R. Narayana Murthy on Friday reiterated his call for promoting professionalism and ethics in the competitive and complex IT sector. He was speaking at a round table conference organized by Institution of Engineering and Technology (IET). Murthy, termed the need of professionalism and work ethics in the IT sector [...]
Mewah (MV4.SG) at $1.01, 8.9% off $1.10 IPO price; fall unsurprising given weaker market sentiment, tepid response to offering, which only 1.9x subscribed, priced well below $1.25-$1.55 indicative range.
Not the best time to come to market — STI’s pared all its November gains, weak market volume heading into year-end, also after string of listings in recent weeks.
Also, sheen coming off agri-commodities sector, which perhaps denting appetite for the palm product refiner; Singapore-listed palm plays retracing sharp gains made in run-up to QE2.
“Too many people are hyped up on the commodity sector … (Agri) Commodities prices have been supported by bad weather problems and the weaker US dollar, which has made it easy to buy commodity plays as a hedge against inflation,” says dealer at foreign house.
Quotes tip firm support at $0.95.
{jcomments on}
DBS Vickers says Singapore hospitality sector to end 2010 on high note, approaching year-end holiday season, year-to-date arrivals of 8.6 million within 69%-75% of Singapore Tourist Board’s 11.5-12.5 million target, “which we believe is achievable.”
Notes arrivals in coming months likely stronger vs prior years with Universal Studios one of major crowd pullers. “From 4Q10, RWS will unveil a slew of new attractions and rides in USS while Singapore will be geared up to host larger conferences and meetings throughout the course of 2011.”
Tips visitor arrivals to hit new peak of 13 million in 2011, translating to estimated demand of 11.8 million room nights. Hospitality-related stocks to continue delivering strong earnings; top picks, all rated Buy: CDL Hospitality Trusts (J85.SG) with $2.28 target; Ascott REIT (A68U.SG) with $1.38, UOL (U14.SG) $5.22, SIA (C6L.SG) $18.74, Genting Singapore (G13.SG) $2.70, Asiatravel (5AM.SG) $0.63.
{jcomments on}
The Prime Minister, Dr. Manmohan Singh, on Tuesday said the Central Government is committed to working with trade unions and industry to ensure that the regulatory framework in the labour sector is conducive to both employment generation and workers” welfare and well being. Inaugurating the 43rd session of Indian Labour Conference here, Dr. Singh said: [...]
