Opportunities
DBS (D05, $16.70) announced 2Q13 results which was in-line with estimates. 16-month attempt to buy Bank Danamon Indonesia has collapsed. Some analysts believe that the end of the saga could spell higher dividends.
Comments: Good news for DBS. Price may continue to see upward action.
Genting Hong Kong (S21, US$0.440) plans to divest up to a 5.6% stake in Nasdaq-listed Norwegian Cruise Line Holdings for as much as US$352m, according to regulatory filings yesterday. The maximum sale price is US$30.65 per share. Norwegian Cruise shares closed at US$29.76.
Comments: Positive on Gent HK as NCL was loss making. Now Gent HK gets cash back.
Europtronic (E23, $0.056) in RTO deal to transform itself into gold miner.
Comments: Possible punt?
Commentary
US stocks continue “home bias” as first mentioned yesterday as other global stock markets remain relatively uninteresting. In Asia, the strongest net bought stock market remains South Korea.
Technically, I think we are in a period of sideways consolidation. After which, I presume anything can happen after this as negative and positive factors exist fundamentally.
Also, the Fed has to do something as inflation is still below their targets. Anyone can reasonably expect them to continue boosting money supply which may explain why USD continues to be weak and the observation we have above.
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