The Weekly Review: New Cooling Measures on Singapore Property Market

The Euro continues to show strength as AUD falters after much struggle up. The huge bar rally was on Thursday where rate of the Euro was announced. Certainly drove the Euro and markets up in just a few hours. A really good and quick profit for those who traded the breakout of the consolidation. We shall see how it goes next week. EUR is still certainly bullish.

US Stocks

Dow Jones continues its rally up for 2013.

Alcoa drops. Wait for that support.

Amgen continues to be supported. But it seems to be at a top.

Singapore Stocks

The Singapore Government just announced another cooling measure to prevent excessive speculation of the property market. There has been alot of new ECs building up in Singapore and people are flocking to buy a piece of it, which makes me wonder if people can really afford it? The reason behind this is that the continuous selling of the investment idea of renting out your property and obtaining passive income from it is causing the balloon of money pouring in. There has been word also that some foreigners are buying these properties to hide their ill-gotten gains rather than depositing into a bank, lessening the chances of being caught by their own country's taxman. The news about the new cooling measures was announced on Friday. So it will be a wild guess if the property stocks will tumble on Monday since there will be a weekend for people to digest the news. Of course the first people who got the news on Friday are the big players and insiders. Let us take a look at the property counters:

Capitaland was down of Friday after the continued rally.

Kepland was also in a continued rally after the huge profit taking.

Yanlord seemed to hit a resistance.

So we shall see next week on the direction the property counters.

One more thing.

Yangzijiang had a good rally since my last post. Congrats on those who longed.