Oil’s 5 percent tumble Wednesday, the biggest slide since March, followed government data that showed U.S. crude and fuel stockpiles unexpectedly soaring at a time of year when they normally decline. Here are three charts showing what made oil bulls run scared.
Hedge funds trimmed bets on rising crude prices to the lowest level since November as oil futures dipped below $50 a barrel amid scepticism that an OPEC-led campaign to cut output will soon curb a worldwide supply glut. Speculators fled bearish positions for a second week.
Hong Kong’s Nan Fung Development has purchased a commercial site in the Kai Tak district at the price of HK$12,864 per square foot. Last November, Lifestyle International Holdings Ltd (1212.HK) had purchased another Kai Tak site at HK$7.39 billion (only HK$6,733 per square foot). Hence, we can see that the land price of Kai Tak’s commercial site has risen by 91 percent within half a year.
Singapore's shipyards order book fell more than 50 percent in 2016 as compared to 2015 - a plunge from $19 billion to $8 billion. That might change soon, though, according to UOB Kay Hian's (UOBKH) report dated 29 May 2017.
When the Energy Information Administration reports on June 1 and if U.S. stockpiles shrank for another week, oil investors will have a chance to reassess if their frustration following the OPEC meeting was exaggerated.
In the previous article, we highlighted three stocks that DBS is optimistic about for the month of May. In this article, we will be highlighting five stocks that DBS Research suggests avoiding holding in May as they have either been fairly priced or are exposed to potential headwinds in their respective sectors.
OPEC is going to have to do much more than just extend its current production deal when it meets next week if it's serious about addressing surplus inventory. In fact, its figures show it needs to double the cut it made in January. That means finding another 1.2 million barrels a day to take out of production.
Oil prices increased slightly on Monday (8 May 2017) but could not make up for the losses suffered previously, having fallen six percent in the past week. The US’s increasing production is eroding OPEC countries’ effort to prop up oil prices through agreed cuts to production level.
The Hang Seng Index has been flat for the past few days, while stocks registered varying performances. My favourite stocks are still the super performance stocks, i.e. stocks whose prices reach historical high or 52-week high, such as MTR Corp Ltd (066.HK), Galaxy Entertainment Group Ltd (027.HK), Henderson Land Development Co Ltd (012.HK), Yanzhou Coal Mining Co Ltd (1171.HK), and K Wah International Holdings Ltd (173.HK), etc.
Concerns over the health of the debt-ridden O&G sector in Singapore will be a likely repercussion of Ezra’s bankruptcy announcement. Here are three O&G companies that could become prime targets for privatisation as mentioned in DBS Research’s report.