(Update from 27th Sep - 4th October and market forecast)
🌀
Last week... was the last week of 3rd quarter (Q3) and the three major U.S. indexes S&P, Dow Jones and Nasdaq had dropped to the lowest since mid of August. STI had also evaporated all the gains in Q3...
Q4 just started... and the equity markets started off well so far...
🌀
My Interview with ZaoBao dated 29th Sep:
MARKET SUMMARY
For ZaoBao Subscriber, Click HERE
🌀
To Investors :
Investment tip takeaway 🦉 this week:
This week is simply... Sell away or reduce your holdings by this Friday.
Last week, STI tested 3100 critical support, and any big chips were thrown down and broke down from support levels. And basically, I would maintain my previous recommendation: Sell whenever prices rebound. And entering into October, I preferred to unload more holdings and will only buy back in the month of Nov.
📍Economic Calendar: 2nd-7th Oct📍
Singapore
(Mon, 3 Oct 2022)
Manufacturing PMI Sep (50.0 ➡️ 49.9)
(Wed, 5 Oct 2022)
Retail Sales
(Fri, 7 Oct 2022)
Foreign Reserves USD (MoM) Sep
United States
(Mon, 3 Oct 2022)
ISM Manufacturing PMI Sep (52.8➡️ 50.9)
(Tues, 4 Oct 2022)
Factory Orders (MoM) Aug (-1.0% ➡️0.0%) ,
JOLTs Job Openings Aug (11.170M➡️10.053M)
(Wed, 5 Oct 2022)
OPEC Meeting, Exports, Imports, Trade Balance Aug, ISM Non-Manufacturing PMI, Crude Oil Inventories (Thu, 6 Oct 2022)
Initial Jobless Claims
(Fri, 7 Oct 2022)
Nonfarm Payrolls Sep, Unemployment Rate Sep
🕳️
2022 FOMC Meetings:
November. 1-2 ; December. 13-14*
Australia
(Mon, 3 Oct 2022)
RBA Interest Rate Decision Oct (2.35% ➡️2.6%)
China
(Mon-Fri, 3-7 Oct 2022)
Holiday
(Thu, 6 Oct 2022)
Caixin Manufacturing PMI, Manufacturing PMI, Non-Manufacturing PMI
🌀
Last Week Economic Data Review :
Singapore
Industrial Production YoY Aug (0.8%➡️0.5%) better than expected
URA Property Index Q3 (3.5➡️3.4%)
Bank Lending (838.0B➡️842.8B)
United States
CB Consumer Confidence Sep (103.6➡️108.0)
New Home Sales Aug (532K➡️685K)
Goods Trade Balance Aug (-90.19B➡️-87.30B)
Pending Home Sales MoM Aug (-0.6%➡️-2.0%)
Crude Oil Inventories (1.142M➡️-0.215M)
GDP QoQ Q2 (-1.6%➡️-0.6%)
Initial Jobless Claims (209K➡️193K)
Core PCE Price Index MoM Aug (0.1%➡️0.6%)
Personal Spending MoM Aug (-0.2%➡️0.4%)
Michigan Consumer Sentiment Sep (59.5➡️58.6)
China
China Industrial Profit Aug (-1.1%➡️-2.1%)
"It is during our darkest moments that we must focus to see the light."
📌
Other Focus (Highlights of Results / Corporate Actions):
💡 SGX <Analyst Research>
Other extracted news:
MAS October tightening may not be enough for Singdollar to outpace the US dollar
Government releases yet another set of property cooling measures amid rising market interest rates
Majority of Singapore CEOs believe that a recession is likely to impact their earnings over the next year: KPMG
Govt measures pull the brakes on accelerating HDB house prices as mortgage rates continue to rise
GIC seeks Japan property deals as Yen falls and tourists return
Singapura Finance launches Mobile and Internet Banking
Best World International submits trading resumption proposal
EC World REIT to divest indirect interests in Bei Gang Logistics and Chongxian Port Logistics for $276.0 mil
CapitaLand Ascendas REIT to convert office property in San Diego to life sciences property
SATS's 'transformational' acquisition rattles market but long-term potential in the making
OPEC+ will consider output cut of more than 1 mil barrels
Tesla slumps as deliveries disappoint due to shipping snarls
Meta to cut headcount for first time, slashes budgets across teams
📌
SGX & Other Newsfeed
Your Money with Michelle Martin (9am - 12pm)
SGX Research's 10 in 10 with Quantum Healthcare (V8Y | QUANH SP)
🦷Quantum Healthcare's recent restructuring and diversification across the healthcare business aims to create additional and recurrent revenue streams with a view to achieve long-term growth.
➡️ Read the full article: bit.ly/3xVbqvK
<Analyst Spotlight for 29 Sept 2022>
Kimly Group (1D0): Divestment of confectionery business (CGS-CIMB)
- Divesting its confectionery business (Rive Gauche) to Muginoho Global for S$2.8m to streamline operations.
- Reiterate Hold recommendation with a target share price of S$0.41 (current S$0.35 at 9 September 2022)
Choo Chiang Holdings Ltd (42E): Proprietary Brands to lead the way (Lim & Tan)
- 1HFY22 revenue of S$41.1m (+7.9%) driven by increase in selling prices for certain electrical products and accessories.
- Maintain Buy recommendation with a target share price of S$0.48 (current S$0.31 at 15 September 2022)
HRnetGroup Ltd (CHZ): Homing in on hot jobs (DBS Research)
- Singapore's job market remains tight, with the job vacancy-to unemployed person ratio at 2.5 - the highest in 24 years since 1998.
- Initiate coverage with Buy recommendation and a target share price of S$1.08 (current S$0.78 at 16 September 2022)
📈 REIT Watch on The Business Times - 5 S-Reits with net institutional and retail inflows in Q3 2022
In Q3 2022, Singapore's Reits and Property Trusts (S-Reits) sector declined 7% in total returns, slightly outperforming the 10% decline of the broader FTSE EPRA Nareit Developed Index.
Across the sub-sectors, industrial S-Reits saw the least declines, averaging -3% total returns during the quarter, while office S-Reits saw the most declines, averaging -16% total returns.
In terms of net fund flows, the S-Reit sector saw S$360M of net institutional outflows but received S$504M of net retail inflows. There were 5 S-Reits that received net inflows from both institutional and retail investors - CapitaLand Ascendas Reit, Mapletree Pan Asia Commercial Trust, Mapletree Logistics Trust, Lendlease Global Commercial Reit and Digital Core Reit.
To read the full article: bit.ly/3UYsMl8
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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