Global Stock Market Indices PE Ratio At a Glance (17 Sept 2016)

Market Indices PE Ratio for Major Stock Exchange globally

  • US: Dow Jones Industrial, S&P500, NASDAQ, Russell 2000
  • Europe: FTSE100, CAC40, DAX
  • Asia: KLCI, STI, HangSeng, ASX200, CSI 300, JCI, SET, KOSPI, NIKKEI 225, SENSEX, TWSE, NZX50, PSEi
  • Best Performer: Hong Kong Hang Seng Index (HSI) up for 2.5% with PE Ratio of 12.52
  • Valuation of Global Stock Market is NOT cheap base on PE Ratio. Simple Average PE Ratio increases from 23.33 to 23.52 with most market with negative return for past month.

stock-market-key-indices-pe-ratio-sept16-2016

  •  PE  = Price Per Earning

See Aug-2016 Global Stock Market PE Ratio here.

shiller-pe-ratio-sept-18-2016

Original post from http://mystocksinvesting.com

Singapore REIT Fundamental Analysis Comparison Table – 12 September 2016

FTSE ST Real Estate Investment Trusts (FTSE ST REIT Index) increases from 756.17 to 768.70 (+1.66%) compare to last post on Singapore REIT Fundamental Comparison Table on August 8, 2016. The index is rejected at the declining trend line resistance with an Evening Doji Star reversal pattern. Base on chart pattern, upside is limited although the index is still in bullish territory. SGX S-REIT (REIT.SI) Index increases from 1162.02  to 1183.53 (+1.85%)

ftse-st-reit-index-5y-sept-12-2016ftse-st-reit-index-6m-sept-12-2016

  • Price/NAV increases from  1.003 to 1.017 (Singapore Overall REIT sector is slightly over value now)
  • Distribution Yield decreases from 6.96% to 6.83% (take note that this is lagging number). Less than half of Singapore REITs (16 out of 39) have Distribution Yield > 7%. Not all the REITs have attractive yield now. A number of REITs like Capita Comm Trust, Capitaland Mall Trust, Frasers Centrepoint Trust, Keppel DC REIT, Mapletree Comm Trust, SPH REIT have less than 6% distribution yield. Selection of Singapore REITs have become much more important now because not all the high yield REIT has strong fundamental.
  • Gearing Ratio decreases from 34.50% to 34.44%.  20 out of 39 have Gearing Ratio more than 35%.
  • Most overvalue is Ascendas iTrust (Price/NAV = 1.623), followed by Parkway Life (Price/NAV = 1.549) and Keppel DC REIT (Price/NAV = 1.369)
  • Most undervalue (base on NAV) is Far East HTrust (Price/NAV = 0.645), followed by Sabana REIT (Price/NAV = 0.65) and Fortune REIT (Price/NAV = 0.779).
  • Highest Distribution Yield is Sabana REIT (9.52%), followed by Soilbuild Biz REIT (9.01%) and Lippo Malls Indonesia Retail Trust (8.95%)
  • Highest Gearing Ratio is Croesus Retail Trust (45.3%), iREIT Global (41.8%) and Sabana REIT (41.2%)

singapore-reit-fundamental-analysis-and-comparison-table-12-sep-2016

Disclaimer: The above table is best used for “screening and shortlisting only”. It is NOT for investing (Buy / Sell) decision. To learn how to use the table and make investing decision, Sign up next REIT Investing Seminar here to learn how to choose a fundamentally strong REIT for long term investing for passive income generation.

  • Singapore Interest Rate increases from 0.37% to 0.38%.

singapore-interest-rate-sept12-2016 sibor-sept-12-2016

  • 1 month decreases 0.63458% to 0.62233%
  • 3 month decreases from 0.87630% to 0.87192%
  • 6 month decreases from 1.15072% to 1.15071%
  • 12 month decreases from 1.31250% to 1.31183%

singapore-manufacturing-pmi-sept12-2016

The Singapore PMI increased to 49.8 in August of 2016 from 49.3 in the previous month. Although the reading pointed to the fourteenth consecutive month of contraction, new orders, new export orders, production and employment declined at a slower pace. Also, electronics sector expanded for the first time in 14 months (50.2 from 49.7 in July). Manufacturing PMI in Singapore averaged 50.13 from 2012 until 2015, reaching an all time high of 51.90 in October of 2014 and a record low of 48.30 in October of 2012. Manufacturing PMI in Singapore is reported by the Singapore Institute of Purchasing & Materials Management, SIPMM.

 

Singapore REITs in general is slightly over value now. Distribution yield for some Singapore REITs with bigger market capitalization is not very attractive. However, there are still opportunities in Singapore REITs with smaller market capitalization. The high distribution yield of these REITs are caused by huge drop in share price due to weak fundamental instead of strong DPU growth.  Technically Singapore REITs sector is in bullish territory and on uptrend but facing immediate declining trend line resistance. US Fed is now starting to talk about the interest rate hike which may put pressure on Singapore REITs moving forward.  Nevertheless, not all the REIT are affected by the rate hike due to the different debt profile. This may present an opportunity to pick up some fundamentally strong Singapore REITs if there is a knee jerk sell off in the Singapore REITs sector. Come and learn how to spot these gems and identify how to time an good entry in the coming Singapore REIT Investing course.

 

Original post from http://mystocksinvesting.com

 

 

Weekly Inter Market Analysis Sept 11-2016

Learnt about JW5IMA in PMP. I create a KL8WIMA (Kenny Loh 8 Weekly Inter Market Analysis) for my own market watch. The objective is to monitor the correlation of different asset class / sectors movement every week. Feel free to comment if there are better alternatives.

Original post from http://mystocksinvesting.com

A long awaited sell off finally came on Friday (Sept 9-2016) after 2 months of low volatility and trading in a tight range for US market. Has the correction finally came? Will the sell off continue next week?

us-indices-sept9-2016 heatmap-sept-9-2016

SPY (SPDR S&P500 ETF)

SPY gapped down and broken the support on last trading session. Next week will be crucial to see whether SPY can break the support to continue the sell off or rebound from here to continue the uptrend.

spy-sept11-2016

VIX

VIX spiked about 40% at last trading session. If VIX continues to move higher next week, tighten your seat belt!

vix-sept11-2016

SUDX (S&P US Dollar Futures Index)

SUDX is currently trading within a Symmetrical Triangle and likely to be trading in a tight range until a breakout. Wait for Yellen’s speech on the interest rate hike confirmation.

sudx-sept11-2016

FXE (Currency Shares Euro ETF)

Down trend has stopped for FXE. FXE is curently trading sideway and range bound. Wait for Yellen’s speech on the interest rate hike confirmation before we can see the next big move.

fxe-sept11-2016

XLE (SPDR Energy Sector ETF)

XLE came out from the down trend channel and currently looks like reversing to the uptrend. Crude Oil has bottomed up?

xle-sept11-2016

USO (United States Oil Fund)

USO is currently trading in a Symmetrical Triangle. Keep an eye on the next move when USO is trading closer to the apex of the triangle.

uso-sept11-2016

TLT (iShares 20+ Years Treasury Bond ETF)

SPY sold off, TLT sold off together? US Equity and Bond Market are moving in the same direction at the moment. This is not normal. Will the “Sell equity and move to bond in the bear market” strategy work moving forward? Base on the current equity and bond “synchronized movement”,  we may need to watch this space very closely and rethink our portfolio re-balancing strategy.

tlt-sept11-2016

GLD (SPDR Gold Shares)

Gold is currently trading in a consolidation (Rectangle pattern) and still on uptrend.  Expect GLD to move to 141.19 (161.8% Fibonacci Retracement Level) as long as the uptrend support holds. Can GLD be the safe harbor if Equity & Bond market sell off?

gld-sept11-2016

Next Week Economic Calendar

economic-calandar-sept11-sept17-2016