CDP
| Security | # shares | Price S$ | % |
|---|---|---|---|
| DBS | 300 | 30.94 | 3.52 |
| OCBC Bank | 700 | 11.83 | 3.14 |
| SGX | 1,200 | 9.53 | 4.33 |
| iFast | 5,200 | 4.88 | 9.61 |
| SATS | 3,900 | 4.38 | 6.47 |
| ST Engineering | 4,100 | 4.11 | 6.38 |
| Micro-Mechanics | 7,900 | 3.05 | 9.13 |
| Powermatic Data | 5,000 | 2.81 | 5.32 |
| TheHourGlass | 5,000 | 2.34 | 4.46 |
| Sheng Siong | 13,000 | 1.53 | 7.54 |
| ComfortDelGro | 11,200 | 1.44 | 6.11 |
| Genting Singapore | 11,700 | 0.78 | 3.48 |
| HRnetGroup | 21,900 | 0.725 | 6.02 |
| HC Surgical | 35,500 | 0.47 | 6.32 |
| China Sunsine | 41,800 | 0.45 | 7.13 |
| Kimly | 27,000 | 0.38 | 3.89 |
| Silverlake Axis | 60,800 | 0.31 | 7.14 |
Trade Actions
- Bought 5,200 shares of iFast Corp.
- Bought 6,600 shares of Micro-Mechanics Holdings.
SRS
| Security | # shares | Price S$ | % |
|---|---|---|---|
| OCBC Bank | 900 | 11.83 | 9.67 |
| SGX | 1,300 | 9.53 | 11.26 |
| iFast | 2,100 | 4.88 | 9.31 |
| SATS | 2,200 | 4.38 | 8.76 |
| ST Engineering | 3,000 | 4.11 | 11.20 |
| Micro-Mechanics | 3,100 | 3.05 | 8.59 |
| Sheng Siong | 8,700 | 1.53 | 12.09 |
| ComfortDelGro | 6,900 | 1.44 | 9.03 |
| HC Surgical | 19,500 | 0.47 | 8.33 |
| China Sunsine | 10,800 | 0.45 | 4.42 |
| TalkMed Group | 3,700 | 0.40 | 1.34 |
| Silverlake Axis | 21,300 | 0.31 | 6.00 |
Trade Actions
- Bought 2,100 shares of iFast Corp.
- Bought 3,100 shares of Micro-Mechanics Holdings.
Commentary:
It has been a brutal month for tech stocks and markets in general. The selloff amplifies whenever a megacap reports worse-than-expected result. Any relief rally dissipates quickly the following day. The S&P 500 Index is hovering just above bear market territory. Interestingly, the STI is holding up well with a positive 3.5% YTD return amid a sea of red. Post-pandemic reopening optimism trumps recession fear at the moment.
Slowly but surely, Singapore is facing the onslaught of global inflationary headwinds. The MAS reported a 3.3% YoY increase in Core Inflation for April 2022, up from 2.9% in March. [data] India, Indonesia and Malaysia have implemented export bans to cater to their own domestic demand. I wouldn't be surprised if more food exporting countries follow suit. So far, I haven't read of any local listed company being affected, but SMEs like chicken rice sellers are feeling despair. [article] We will likely see the adverse impact materialise in 2Q2022 earning results.
I built a stake in iFast Corp, the fintech company that suffered a massive selloff recently. I understand market jitters may cause the stock to decline further, but I feel $4+ is a fair price to pay for the earnings potential of the company.
I have also added Micro-Mechanics Holdings during the recent share price weakness. I like the company's net cash position, compared to other local semicon plays like AEM Holdings and UMS Holdings.
Silverlake Axis extended the dateline for their Equal Access Offer, which gave me sufficient time to inform my custodial bank. I will tender the full allotment of 6,200 shares from my SRS account.
Wifey said I have been paying too much attention to the stock markets lately. I would wake up around 4 plus and check how the U.S. market closes for the day, and which company is the latest victim of The Big Sale. This has become a habit.
Slowly but surely, Singapore is facing the onslaught of global inflationary headwinds. The MAS reported a 3.3% YoY increase in Core Inflation for April 2022, up from 2.9% in March. [data] India, Indonesia and Malaysia have implemented export bans to cater to their own domestic demand. I wouldn't be surprised if more food exporting countries follow suit. So far, I haven't read of any local listed company being affected, but SMEs like chicken rice sellers are feeling despair. [article] We will likely see the adverse impact materialise in 2Q2022 earning results.
I built a stake in iFast Corp, the fintech company that suffered a massive selloff recently. I understand market jitters may cause the stock to decline further, but I feel $4+ is a fair price to pay for the earnings potential of the company.
I have also added Micro-Mechanics Holdings during the recent share price weakness. I like the company's net cash position, compared to other local semicon plays like AEM Holdings and UMS Holdings.
Silverlake Axis extended the dateline for their Equal Access Offer, which gave me sufficient time to inform my custodial bank. I will tender the full allotment of 6,200 shares from my SRS account.
Wifey said I have been paying too much attention to the stock markets lately. I would wake up around 4 plus and check how the U.S. market closes for the day, and which company is the latest victim of The Big Sale. This has become a habit.
Latest Fed minutes suggest the Fed is prepared to hike interest rate further than expected. [news] At this juncture, it is hard to say whether the Fed will succeed in containing the runaway inflation without causing a recession. The current situation is exacerbated by issues beyond the Fed's control, namely supply chain bottlenecks, the Russo-Ukrainian war and China's draconian COVID-19 lockdowns. The economy and company earnings remain under pressure.
So far, the market downturn has been pretty orderly. I do not see any sharp spike above 40 in the VIX, which is a pseudo indicator of widespread panic. Nonetheless, pockets of opportunity have started to appear in the local stock market. I will deploy my cash accordingly.
Speaking of waking up early, I was amused by my boss' surprised look when I told her I wake up at 5am to exercise, bathe and head to office. I start work at 7am when the sun has just risen. The quiet ambience is perfect for clearing my urgent priorities, although I sometimes get instant messages from my San Francisco colleagues for help, which add tasks to my To Do List. (Oh well.) This routine fits rather well to my Lion chronotype. [link] I am most productive in the morning. (Coincidentally, my Zodiac is Leo.)
How fast time flies. We are now approaching mid 2022. I read that many families are planning to travel abroad during the June holiday. Given the pandemic is still ongoing, my wife and I have opted to stay in Singapore. That said, we have booked another cruise in November. (Yes, I like the sea very much.) Looking forward to that.
Until next time, stay vigilant for buying opportunities, my friends!
So far, the market downturn has been pretty orderly. I do not see any sharp spike above 40 in the VIX, which is a pseudo indicator of widespread panic. Nonetheless, pockets of opportunity have started to appear in the local stock market. I will deploy my cash accordingly.
 |
| Chart of CBOE Volatility Index (VIX). (Source: Yahoo) |
Speaking of waking up early, I was amused by my boss' surprised look when I told her I wake up at 5am to exercise, bathe and head to office. I start work at 7am when the sun has just risen. The quiet ambience is perfect for clearing my urgent priorities, although I sometimes get instant messages from my San Francisco colleagues for help, which add tasks to my To Do List. (Oh well.) This routine fits rather well to my Lion chronotype. [link] I am most productive in the morning. (Coincidentally, my Zodiac is Leo.)
How fast time flies. We are now approaching mid 2022. I read that many families are planning to travel abroad during the June holiday. Given the pandemic is still ongoing, my wife and I have opted to stay in Singapore. That said, we have booked another cruise in November. (Yes, I like the sea very much.) Looking forward to that.
Until next time, stay vigilant for buying opportunities, my friends!
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