Live has been hectic this month as I focused more on work and learnt a new jap song (for no fucking reason, right?)
Seems like the optimism in January was short-lived. Correction immediately rode on the potential news of prolonged elevated interest rates, cessation of COVID support packages for business, and more realistic balance sheets.
Popular on the headlines are Keppel Corp and SMM's merger deal, roping in massive trading volumes on affected counters and probably shortsellers laughing their way to the bank.
Finally, some movement in Boustead as it made a daring move to acquire Boustead Projects under its umbrella. However, its game is much more on top than expected and thus faced the upward pressure to its offer price. An offer price too high is definitely not a good deal for Boustead shareholders.
Tech market is peaking. Demand is slowing as tech companies report less than favourable sales volume amid heightened political and economic uncertainty. UMS took a hit.
Looking forward to next month as I await a few Dividends. March shall be my another 'bonus' month. This time I shall pump all my proceeds back into POEMS to build my warchest.
Warchest: 23.69
Dividends received YTD: 0.00
Happy new year!
Markets showed signs of optimism as China's reopening boosted their economies.
I've been paying more attention to REITS recently. I attended my first physical AGM of the year - FLCT. I learnt a lot more about how concerned the shareholders are about the company's performance! Twas an eye opener for me.
Seems like REITS are threading their course very carefully through the very sensitive market these few months amid the elevated interest rate, political uncertainty, economic headwinds.
Some emerged with unexpected results, like maintaining a relatively low gearing and high % loans pegged to fixed rate, or there was focus on organic growth and re-strategising. Others took the brunt of the impact and resulted in a loss of profit, much to disappointment in investors, resulting in sell-off.
Thankfully, FLCT managed to retain shareholders confidence through its sustained performance. Ascott outperformed with a increase in dividend payouts, much thanks to increased traffic as most countries start to reopen their borders in 2022. Lendlease, having its price beaten down to a low of 0.66 last month, started regaining investor confidence due to the influx of Chinese in town. Prices shot up to the low 70s but I suppose it will hover around there for a while, testing resistance and support.
My portfolio started to rebound a bit. Is it because of the optimism the market have in the first month of the year? Or is it that markets are already eyeing the end of the rate hikes as perceived recession draws near?
This quarter I plan to pump in 3k. Note to self. Have adjusted my housing loan to include $200 cash per mth in instalments.. To prep for a lower P+I upon sale of the flat.
This month I'm going to keep a lookout for stocks worth loading. Especially the REITS.
Warchest: 23.69
Dividends received YTD: 0.00