SPH - Undergoing Strategic Review

2nd half of March 21, we starting seeing SPH creating value news, but if you look at the chart, SMART MONIES already know the news around Nov 2020.  The Smart Monies news are always 3 to 6 months ahead of retail investors.  Learn to trust the chart on its FIRST upthrust bar.

Many analyst put the TP at 2.00, but look out for any early reversal as that is how Smart Monies works, as by the time retail investors know the news, its already discounted.  Just look at those Gloves stocks, the are still making money now, but due to the DISCOUNTED news, their stock price went down.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

IReit - Nearing Its Breakout Point

Nearing its breakout point to retest 0.675

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

China Aviation - Trending Up

High Low Higher Higher.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

STI ETF - Price and Volume Divergent

STI ETF continue its uptrend but with price and volume divergent.  Technically, it means the uptrend is weak.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Lion OCBC Sec HSTech ETF HST - Turning Into a Cat

After the China Government crack down on Tech stocks, this Lion had turn into a Cat.

It is a bit tricky to buy and sell at the zone as price keep forming lower high and lower low.  Best to keep away for now and wait for the tide to turn.  

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Suntec - Sunny Days Coming

As the Government allow 75% of workforce to go back to office and allowing larger crowds, Suntec convention can see more sunny days soon.  

The uptrend is slow but steady.

Candlestick reading

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

AEM - Still Bullish Trend

Long-term trend still bullish.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

YZJ Shipping - The Sword is Still Sharp

Still looking bullish.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Great Eastern - Great Uptrend

Still in a Great Uptrend.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

City Dev - Looking Bullish

The rotational bulls seem to be going into property stocks like City Development.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Frencken - Uptrend Remain Unchanged

Despite the recent tech correction, no major change in uptrend direction.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Nikko STI ETF - Long-Term Uptrend Still Intact

Still bullish as no major break down of uptrend.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Haw Par - Climatic Up Move

Very suspicious climatic up move today.  Hopefully not a pump and dump.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Top Glove - Now Become Bottom Glove

Top Glove was the favourite money making stock 1 year ago during COVID-19, 1 year later, it come Bottom Glove as vaccination come into play.  Need to pay attention to the wind direction.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

DBS - 17 Mar 21

Uptrend continuation.

ThaiBev - 17 Mar 21

Looking bearish.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Diary Farm - 16 Mar 21

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

UMS - 16 Mar 21

Continuous 8 beautiful up bars.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Ascendas ITrust - 15 Mar 21

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

SIA - 15 Mar 21

Expect some correction as the price is very steep now.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

STI - 12 Mar 21

Last week up bar was very narrow, likely to face correction before continuing its uptrend.  

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Lion OCBC Sec HSTech ETF HST - 12 Mar 21

If another 2 bullish bar, probability of uptrend continuation will be great.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

ESR Reit - 12 Mar 21

Like all other reits, under pressure to go down due to the rising yield curve.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

EC World Reit - 12 Mar 21

Looks like a double head reversal.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

ThaiBev - 12 Mar 21

Bears in control today.  May test the lower low at 0.71

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Mapletree Ind - 12 Mar 21

Fallen by 50%, good time to accumulate at different price level.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Delfi - 11 Mar 21

In uptrend channel.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

DBS - 11 Mar 21

The next attempt to break 30. 

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Dasin Retail Trust - 11 Mar 21

Downtrend channel - avoid.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

CSE Global - 10 Mar 21

CSE Global ascending triangle.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

ComfortDelGro - 10 Mar 21

Mini uptrend in progress.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Astrea VI Private Equity Bonds

I am putting some money as Fixed Deposits into this bond.  Singapore Banks FD interest no eye see.

The retail tranche of the latest issuance of private equity bonds, Astrea VI, was launched on Tuesday with a fixed interest rate of 3 per cent per annum.

In a briefing on Tuesday, Azalea Asset Management said S$250 million worth of the lowest-risk Class A-1 bonds will be open for subscription from 9am on Wednesday (March 10).

The offer will close at noon on March 16. Applications will be in multiples of S$1,000 with a minimum of S$2000.

https://www.businesstimes.com.sg/banking-finance/astrea-vi-private-equity-bonds-launched-subscription-starts-march-10

City Dev - 09 Mar 21

Don't trade against a downtrend.  

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Mapletree Commercial - 09 Mar 21

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

S-REITs Yielding 6% & Leading the STI Reserve List

• Recent moves of the S-REIT Sector have been aligned with global REITs. In-line with the Bloomberg World REIT Index, the S-REITs have averaged a marginal return in the 2021 YTD, and an 8% decline over the past 12 months.
   
• The STI Reserve List (in order of highest market cap) are Frasers Logistics & Commercial Trust, Keppel REIT, Suntec REIT, Frasers Centrepoint Trust and NetLink NBN Trust. Should the Jardine Strategic amalgamation resolution be approved at the EGM, the STI Reserve stock with the highest market cap at the close two days prior to the Index deletion of Jardine Strategic will join the STI.
   
• The strongest performers of the S-REIT Sector in the 2021 YTD have been ARA Logos Logistics Trust Ascendas India Trust, ARA US Hospitality Trust, PLife REIT and Sabana Shariah Compliant Industrial REIT, with all five trusts generating double digit gains.
   
• The five REITs that maintained the highest yields and have generated gains over the past 12 months include EC World REIT, Sasseur REIT, Soilbuild Business Space REIT, ARA Logos Logistics Trust and Frasers Logistic & Commercial Trust. The five REITs average a 6.9% yield.

 

Key Singapore Sectors Taking Global Cues

Amidst recent equity rotations and rebalancing, higher 10-year UST Yields are coinciding with global bank stocks outpacing global REITs. With the longer end of the US 2/10 Yield Curve increasingly pricing an eventual economic normalisation, the Bloomberg World Bank Index has gained 15% versus the Bloomberg World REITs Index gaining 1% in the 2021 year to 5 March.

Key drivers over the past nine weeks are the decline in the COVID-19 infection rates and the pace of the global vaccine rollout. Globally the COVID-19 vaccine doses administered as of 6 March were at 300 million, up from 240 million at the end of February and up from 100 million at the end of January. Meanwhile the potential for new contagious strains of the virus remain a key social, economic and market risk. 

With COVID-19 the overarching market driver, that brings similar Sector impacts wherever stocks may be listed, most big Sector moves have been highly correlated over the past 12 months. For instance:

 

• Over the past 12 months, the trio of DBS Group Holdings, Oversea-Chinese Banking Corporation and United Overseas Bank averaged 17% total returns, in-line with the 17% total return of the Bloomberg World Bank Index in SGD terms.
   
• Likewise, the Bloomberg World REITs Index generated a 7% decline in total return over the period, which was also the median total return of the REITs, Stapled Trusts and two Business Trusts that make up the S-REIT Sector. The 42 trusts of the S-REIT Sector that are listed for trading have averaged an 8% decline in total return, whilst the iEdge S-REIT Index also declined 8% over the period.

 

This has brought the average total return of the trusts that make up the S-REIT Sector to 1.7%, with a median return of 0.4% in the 2021 year to 5 March. The average 12 month trailing dividend yield of the Sector is 6.2%, with the median yield of 5.6%. The five REITs that maintained the highest yields and have generated gains over the past 12 months include EC World REIT, Sasseur REIT, Soilbuild Business Space REIT, ARA Logos Logistics Trust and Frasers Logistic & Commercial Trust. These five REITs including the eight REITs that generated gains over the past 12 months on a total return basis are tabled below.

Strongest Performing Trusts of the S-REIT Sector over past 12 months	Stock code	Mkt Cap S$M	Type of Property Sub-segment	2021 YTD (%)	Past 12 Months Total Return (%)	Div. Yield (%)
PARKWAYLIFE REIT	C2PU	2571	Health Care	10.8	21.5	3.4
SOILBUILD BUSINESS SPACE REIT	SV3U	683	Diversified	2.3	19.0	7.4
SASSEUR REIT	CRPU	1044	Retail	5.5	18.3	7.4
EC WORLD REIT	BWCU	596	Industrial	3.5	11.5	7.5
FRASERS LOGISTICS & COMMERCIAL TRUST	BUOU	4594	Diversified	-5.0	10.9	5.2
ARA LOGOS LOGISTICS TRUST	K2LU	895	Industrial	18.0	10.4	7.3
KEPPEL DC REIT	AJBU	4361	Specialised	-3.5	8.9	3.4
KEPPEL REIT	K71U	4286	Office	7.9	0.8	4.9
FAR EAST HOSPITALITY TRUST*	Q5T	1139	Hospitality	-4.2	-0.6	4.2
AIMS APAC REIT	O5RU	926	Industrial	6.5	-1.4	6.2
ELITE COMMERCIAL REIT	MXNU	401	Office	5.8	-1.7	6.5
CAPITALAND CHINA TRUST	AU8U	2014	Diversified	-3.9	-3.8	4.7
CDL HOSPITALITY TRUSTS*	J85	1518	Hospitality	0.4	-4.1	4.1
LENDLEASE GLOBAL COMMERCIAL REIT	JYEU	906	Diversified	8.6	-4.6	5.3
ASCENDAS INDIA TRUST**	CY6U	1773	Diversified	14.7	-4.8	5.9

 Note * Stapled Trust, ** Business Trust. Source: SREITs & Property Trust Chartbook, Refinitiv and Bloomberg (Data as 5 March 2021)

 

Amalgamation of Jardine Strategic Holdings Puts STI Reserve List in Focus

The Straits Times Index (“STI”) Reserve List (in order of highest market capitalisation) are Frasers Logistics & Commercial Trust, Keppel REIT, Suntec REIT, Frasers Centrepoint Trust and NetLink NBN Trust. Should the Jardine Strategic amalgamation resolution be approved at the special general meeting, the STI Reserve stock with the highest market cap at the close two days prior to the Index deletion of Jardine Strategic Holdings will join the STI.

On 8 March, Jardine Strategic Holdings announced that it had agreed to a proposal made by Jardine Matheson Holdings on the terms of a recommended cash acquisition by Jardine Matheson Holdings of the 15% of Jardine Strategic Holdings issued share capital which Jardine Matheson Holdings or its wholly-owned subsidiaries do not already own. Under the terms of the acquisition, Jardine Strategic Holdings shareholders (other than Jardine Matheson Holdings and its wholly-owned subsidiaries) shall be entitled to receive US$33.00 in cash for each Jardine Strategic Holdings Share, representing a premium of approximately 20.2% to the closing share price of US$27.45 per Jardine Strategic Holdings on 5 March 2021. Both companies report their FY20 (ending 31 Dec) preliminary results on 11 March, and the announcement noted a shareholder circular, setting out the details of the acquisition, the procedures to be followed to approve the acquisition and the notice of the Special General Meeting, will be published as soon as practicable (for more information) click here.

S-REIT Sector Highlights

While on average the trusts of the S-REIT Sector are trading at book value, on a median basis, global REITs are trading at a 4% premium to book value. At the same time, S-REITs maintain a lower debt to asset ratio of 37%, versus 39% for the global medium, and a higher trailing dividend yield with a 5.6% median, versus the global median which is 4.5%. The trust of the S-REIT Sector that are currently listed for trading are detailed below, with the table sort by REIT name. 

Name	Stock code	Mkt Cap S$M	Type of Property Sub-segment	2021 YTD (%)	Past 12 Months Total Return (%)	Div. Yield (%)	Debt/ Asset (%)	P/B (x)
AIMS APAC REIT	O5RU	926	Industrial	6.5	-1.4	6.2	34	0.9
ARA LOGOS LOGISTICS TRUST	K2LU	895	Industrial	18.0	10.4	7.3	39	1.4
ARA US HOSPITALITY TRUST*	XZL	373	Hospitality	13.2	-33.1	8.6	48	0.6
ASCENDAS INDIA TRUST**	CY6U	1773	Diversified	14.7	-4.8	5.9	30	1.4
ASCENDAS REIT	A17U	12174	Industrial	-1.1	-11.1	5.0	33	1.3
ASCOTT RESIDENCE TRUST*	HMN	3239	Hospitality	-1.9	-9.9	3.1	36	1.0
BHG RETAIL REIT	BMGU	281	Retail	0.0	-7.1	4.9	36	0.7
CAPITALAND INTEGRATED COMMERCIAL TRUST	C38U	13595	Diversified	-2.0	-13.3	4.1	41	1.0
CAPITALAND CHINA TRUST	AU8U	2014	Diversified	-3.9	-3.8	4.7	32	0.9
CDL HOSPITALITY TRUSTS*	J85	1518	Hospitality	0.4	-4.1	4.1	38	0.9
CROMWELL EUROPEAN REIT	CNNU	1940	Diversified	-5.5	-8.4	7.6	38	0.8
DASIN RETAIL TRUST**	CEDU	568	Retail	-7.0	-6.4	5.6	38	0.5
EC WORLD REIT	BWCU	596	Industrial	3.5	11.5	7.5	38	0.8
ELITE COMMERCIAL REIT	MXNU	401	Office	5.8	-1.7	6.5	31	1.0
ESR-REIT	J91U	1342	Industrial	-3.1	-25.3	7.3	42	1.0
FAR EAST HOSPITALITY TRUST*	Q5T	1139	Hospitality	-4.2	-0.6	4.2	41	0.7
FIRST REIT	AW9U	328	Health Care	-2.2	-75.4	18.7	49	0.4
FRASERS CENTREPOINT TRUST	J69U	4212	Retail	0.8	-16.0	3.6	38	1.1
FRASERS HOSPITALITY TRUST*	ACV	973	Hospitality	-3.8	-21.5	2.8	38	0.8
FRASERS LOGISTICS & COMMERCIAL TRUST	BUOU	4594	Diversified	-5.0	10.9	5.2	36	1.3
IREIT GLOBAL	UD1U	600	Office	1.8	-6.8	7.7	35	0.7
KEPPEL DC REIT	AJBU	4361	Specialized	-3.5	8.9	3.4	36	2.3
KEPPEL PACIFIC OAK US REIT	CMOU	863	Office	4.6	-7.3	9.2	37	0.8
KEPPEL REIT	K71U	4286	Office	7.9	0.8	4.9	37	0.9
LENDLEASE GLOBAL COMMERCIAL REIT	JYEU	906	Diversified	8.6	-4.6	5.3	36	0.9
LIPPO MALLS INDONESIA RETAIL TRUST	D5IU	472	Retail	0.0	-64.2	11.8	42	0.4
MANULIFE US REIT	BTOU	1506	Office	-0.3	-29.7	8.5	41	0.9
MAPLETREE COMMERCIAL TRUST	N2IU	6632	Diversified	-6.1	-10.6	4.1	34	1.2
MAPLETREE INDUSTRIAL TRUST	ME8U	6160	Industrial	-8.3	-9.5	4.5	37	1.6
MAPLETREE LOGISTICS TRUST	M44U	7526	Industrial	-8.8	-5.6	4.4	37	1.4
MAPLETREE NORTH ASIA COMMERCIAL TRUST	RW0U	3331	Diversified	0.0	-12.5	6.4	41	0.7
OUE COMMERCIAL REIT	TS0U	2008	Diversified	-0.3	-17.9	6.6	41	0.6
PARKWAYLIFE REIT	C2PU	2571	Health Care	10.8	21.5	3.4	39	2.1
PRIME US REIT	OXMU	1117	Office	5.3	-17.6	7.5	34	0.9
SABANA SHARIAH COMP IND REIT	M1GU	390	Industrial	10.5	-13.7	7.4	34	0.7
SASSEUR REIT	CRPU	1044	Retail	5.5	18.3	7.4	28	0.9
SOILBUILD BUSINESS SPACE REIT	SV3U	683	Diversified	2.3	19.0	7.4	39	1.0
SPH REIT	SK6U	2334	Retail	0.8	-15.1	3.1	31	0.8
STARHILL GLOBAL REIT	P40U	1157	Retail	7.7	-17.0	5.0	36	0.6
SUNTEC REIT	T82U	4285	Diversified	2.8	-10.6	5.1	44	0.7
UNITED HAMPSHIRE US REIT	ODBU	439	Retail	6.3	-14.2	7.4	36	0.9
Average				1.7	-8.3	6.2	37.3	1.0
Median				0.4	-7.3	5.6	37.3	0.9

Note * Stapled Trust, ** Business Trust. Source: SREITs & Property Trust Chartbook, Refinitiv and Bloomberg (Data as 5 March 2021)