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PR Newswire
11-04-2012, 07:43 AM
Investors, or speculators? Another example where the media mixes up the two terms. 
The Straits Times
Apr 11, 2012
Investors turning to forex markets
THE search for better returns amid the low interest rates and high share market volatility is leading increasing numbers of investors here and across the world to the risky but potentially lucrative forex markets.
Foreign exchange looks to offer the best of both worlds - better returns than fixed income instruments like bank deposits but without the wild swings of stock markets.
The global forex market turned over an average US$4 trillion a day in 2010, 20 per cent more than in 2007, according to the Bank of International Settlements.
Singapore, the world's largest forex trading market, accounts for 5 per cent of the global turnover. The average daily turnover volume here in April 2010 was US$266 billion, up from US$242 billion in April 2007.
Mr Harmander Mahal, head of wealth and consumer assets at HSBC Singapore, said: 'HSBC Singapore has seen considerable growth in forex transactions.'
He expects the flow on GetRate, the bank's online forex currency conversion and transaction service, to continue to grow substantially.
GetRate allows users to obtain real-time exchange rates and carry out transactions such as transfers of money from one currency to another.
Mr Ronald Ip, director of Wealth Solutions Group at HSBC Global Markets, told The Straits Times yesterday that forex dealing can be carried out at any hour and on any day of the year, so the growth of online trading is no surprise.
'There is also no issue with insider trading, as with stocks. Sometimes when you trade in equities, you get information that is not reliable, or you don't get any. But the information that affects the forex markets are available to anyone,' added Mr Ip.
Some of his top currency picks for the next six months to nine months include the Chinese yuan and the Singapore dollar.
As the Chinese economy is still expected to grow at a fast clip this year, HSBC sees the yuan possibly appreciating to 6.12 to the US dollar by the fourth quarter of this year from 6.3091 now.
The Singdollar, now at $1.2615 against the greenback, is expected to appreciate to $1.20.
'The fundamentals in Singapore are very strong, and it is one of my favourites. Inflation is still relatively high, so the central bank is likely to maintain its appreciation stance,' said Mr Ip.
MAGDALEN NG
The Straits Times
Apr 11, 2012
Investors turning to forex markets
THE search for better returns amid the low interest rates and high share market volatility is leading increasing numbers of investors here and across the world to the risky but potentially lucrative forex markets.
Foreign exchange looks to offer the best of both worlds - better returns than fixed income instruments like bank deposits but without the wild swings of stock markets.
The global forex market turned over an average US$4 trillion a day in 2010, 20 per cent more than in 2007, according to the Bank of International Settlements.
Singapore, the world's largest forex trading market, accounts for 5 per cent of the global turnover. The average daily turnover volume here in April 2010 was US$266 billion, up from US$242 billion in April 2007.
Mr Harmander Mahal, head of wealth and consumer assets at HSBC Singapore, said: 'HSBC Singapore has seen considerable growth in forex transactions.'
He expects the flow on GetRate, the bank's online forex currency conversion and transaction service, to continue to grow substantially.
GetRate allows users to obtain real-time exchange rates and carry out transactions such as transfers of money from one currency to another.
Mr Ronald Ip, director of Wealth Solutions Group at HSBC Global Markets, told The Straits Times yesterday that forex dealing can be carried out at any hour and on any day of the year, so the growth of online trading is no surprise.
'There is also no issue with insider trading, as with stocks. Sometimes when you trade in equities, you get information that is not reliable, or you don't get any. But the information that affects the forex markets are available to anyone,' added Mr Ip.
Some of his top currency picks for the next six months to nine months include the Chinese yuan and the Singapore dollar.
As the Chinese economy is still expected to grow at a fast clip this year, HSBC sees the yuan possibly appreciating to 6.12 to the US dollar by the fourth quarter of this year from 6.3091 now.
The Singdollar, now at $1.2615 against the greenback, is expected to appreciate to $1.20.
'The fundamentals in Singapore are very strong, and it is one of my favourites. Inflation is still relatively high, so the central bank is likely to maintain its appreciation stance,' said Mr Ip.
MAGDALEN NG
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
