(Update from 5th - 11th October and market forecast)
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Last week, U.S. S&P index surged almost 200 points and fell back as much as 150 points within the same week... before the 3rd quarter earning announcement period begins end of the month, economic data continue to take centre stage in the market.
The new export controls announced by the U.S. last Friday, on banning a broad array of chips to be exported to China hits the China‘s Tech Stocks, and also impact other chip-makers around the world.
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Points to Note
The Singapore government has announced new cooling measures, in a response to rising interest rates and record-high home prices. Ref Link: A summary of Singapore’s property cooling measures: 1996 to present day
Fixed home loan rates in Singapore hit 3.85% as all three local banks hike their fixed rate packages; Click HERE
OPEC+ agreed on a 2 million-barrel-a-day cut to output limit, and oil extends rally last Week
Credit Suisse's riskiest bonds sank Monday, and its shares hit record lows before recovering, as investors evaluated concerns about the Swiss bank's financial health. Click HERE
Elon Musk revives US$44 billion Twitter bid, aiming to avoid trial
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My Interview with ZaoBao dated 6th Oct:
MARKET SUMMARY
For ZaoBao Subscriber, Click HERE
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To Investors :
Investment tip takeaway 🦉 this week:
Continue reduce holdings for this week whenever there's rebound
Disappointment came last week Friday with the fallen U.S. Nonfarm Payrolls in September and higher Initial Jobless Claims, and suggested that the U.S. economies still far from recovery after numerous interest rate hikes kicked in since early this year. And all the gain accumulated throughout last week had almost evaporated as oil surged on the production cut announced during the OPEC + meeting.
STI performance was also dampened last week, as one of the possible worries could be triggered by the property cooling measures introduced by the government to curb the rising property prices. Such control could induce investors to encash from their equities investment to meet the new regulatory requirements imposed to the banks. As such, money flow would likely channel back to the property market and in result, the STI could continue to sink to the next support of 3080 points in the month of October.
SG Earning Announcement Dates
📍Economic Calendar: 10th - 14th Oct📍
Singapore
(Thu, 13 Oct 2022)
GDP
(Sat, 16 Oct 2022)
Non-Oil Exports
United States
(Mon - Sat, 10 -15 Oct 2022)
IMF Meetings
(Wed, 12 Oct 2022)
OPEC Monthly Meeting, Core PPI, EIA Short-term Energy Outlook, FOMC Meeting Minutes, API Weekly Crude Oil Stock (Thu, 13 Oct 2022)
Core CPI, CPI, Initial Jobless Claims, Crude Oil Inventories, Federal Budget Balance (Tentative)
(Fri, 14 Oct 2022)
Core Retail Sales, Retail Sales, Export Price Index, Import Price Index, Business Inventories
🕳️
2022 FOMC Meetings:
November. 1-2 ; December. 13-14*
British
(Wed, 12 Oct 2022)
GDP (YoY), Manufacturing Production (MoM) Aug, Trade Balance
China
(Thu, 13 Oct 2022)
CPI, PPI, Exports, Imports, Trade Balance (USD)
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Last Week Economic Data Review :
Singapore
URA Property Index (QoQ) Q3 (3.5% ➡️ 3.4%)
Manufacturing PMI Sep (50.0 ➡️ 49.9)
Retail Sales (MoM) Aug (0.7% ➡️ -1.3%)
Foreign Reserves USD (MoM) Sep (289.4B ➡️ 286.1B)
United States
ISM Manufacturing PMI Sep (52.8➡️ 50.9)
Factory Orders (MoM) Aug (-1.0% ➡️0.0%) ,
JOLTs Job Openings Aug (11.170M➡️10.053M)
API Weekly Crude Oil Stock (4.15M➡️-1.770M)
ADP Nonfarm Employment Change (Sep) (185K➡️208K)
Exports (259.6B➡️258.9B)
Imports (330.0B➡️326.3B)
Trade Balance Aug (-70.50B➡️-67.40B)
ISM Non-Manufacturing PMI Sep (56.9➡️56.7)
Crude Oil Inventories (-0.215M➡️-1.356M) Initial Jobless Claims (190K ➡️219K); Cause to Market tumble
Nonfarm Payrolls Sep (315K➡️263K); Cause to Market tumble
Unemployment Rate Sep (3.7%➡️3.5%)
Australia
RBA Interest Rate Decision Oct (2.35% ➡️2.6%)
China
Caixin Manufacturing PMI (55➡️49.3)
"Belief creates the actual fact."
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Other Focus (Highlights of Results / Corporate Actions):
💡 SGX <Analyst Research>
Other extracted news:
Yanlord's total contracted pre-sales surge 225.7% to RMB9.34 bil in Sept
Golden Energy shares surge on possible acquisition by controlling Widjaja family
Yangzijiang Financial appoints former GIC VP to head group’s investments in external funds
Yangzijiang Shipbuilding announces new orders
Singtel’s Dialog Group hit by cyber security attack, company data leaked
SMI Vantage to raise 100 million yen from existing shareholder for new investments
SPH REIT reports DPU of 5.52 cents for 12MFY2022
Crypto hacked again in US$100 million theft of Binance coin
Kim Heng units clinch US$35 million of contracts
SingTel receives arbitration award in Thailand
CEOs of Samudera, sponsor of Keppel DC REIT raise respective stakes
Retail sales in Aug fall below expectations, but analysts still optimistic
SGX RegCo has "no objection" to trading resumption of Best World shares
WTO slashes forecast for merchandise trade growth in 2023
Sembcorp Marine secures US$3 bil contract from Petrobas
Singapura Finance launches Mobile and Internet Banking.
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SGX & Other Newsfeed
📈 Singapore Net Fund Inflows in 3Q22 Led by Banks
For 3Q22, the broader Singapore-listed 200 stocks that have seen the most trading turnover for the first 9 months of 2022, booked just over S$850M on net fund inflows, with Banks, Telecommunications, Consumer Cyclicals, Technology, and Healthcare Sectors leading the net fund inflows.
The relevant stocks generated mixed performances, with the Telecommunications stocks, Technology stocks, and Healthcare stocks averaging respective declines in total return of 5.4%, 9.7%, and 12.8%, while the Banks stocks and Consumer Cyclical stocks averaged 7.3% and 4.7% total returns for the quarter respectively.
Read more: bit.ly/3rtn8KD
Resilient Amidst Evolving Dynamics
Recently, we spoke with Tripp Gantt, Chief Executive Officer of Manulife US Real Estate Investment Trust (MUST). Read on to find out how the 52-year-old intends to manage MUST's portfolio, ensuring it stays abreast of prevailing trends and remains relevant to tenant demands, so the REIT can continue to deliver sustainable returns to unitholders.
To read the full Kopi-C interview: bit.ly/3Eovvyt
Closing
With the rising interest rate, I believed investors are getting more more risk-averse with the current economic situation, would seriously consider to park their money in fixed deposit with the bank to earn higher interest. And now, you may consider to earn a higher interest return with the idle cash that standby inside your trading account while awaiting for trading opportunities... Try our Phillip Money Market Fund SGD : 1.9501% p.a.
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