(Update from 2 - 8 November and market forecast)
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US
Federal Reserve raises interest rate by 75 basis points, and remains hawkish in monetary policy as he stated that it's very premature and ideal to talk about pausing the rate hikes... pushing the interest rate to a new range of 3.75% - 4%
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SG
SIA reports 2QFY2022-23 earnings of $557 million; declares dividend of 10 cents
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HK
The Global Financial Leaders' Investment Summit hosted in Hong Kong last week for consecutive 3 days (1-3 Nov 22), and Heng Seng rebounded 1000 points last Friday
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Points to Note
Singapore's 3Q earning announcement seasons continue
DBS introduces Singapore's first programmable money live pilot for government vouchers
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My latest Market View published in ZaoBao dated on 4th Nov:
MARKET SUMMARY
For ZaoBao Subscriber, Click HERE
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To Investors :
Investment tip takeaway 🦉 this week:
Nov... uptrend intact...
STI had rebounded from 3000 points and pulled back last week from resistance of 3140 points, but still well supported at 3100 level. And the current resistance of STI is still 3140 points and I believe it's possible to break up from it.
With the grand closing of last week Global Financial Leaders' Investment Summit and border-reopening in Hong Kong, some hot money and funds may flow back to Hong Kong, given that the current extremely low market prices of their stocks could attract investors to bottom-fishing and short-sellers are also force to quick unwind their positions in turn may push the share price higher.
I continued to stay cautions with property sector for the month of Nov and Dec under the high rising interest rate environment. And investors may hold your buy on this sector at the moment.
Q3 Earning Result Announcement :
DBS posts record high earnings of $2.24 bil in 3QFY2022, up 32% y-o-y
OCBC reports record quarterly earnings of $1.6 billion, up 31% y-o-y
AEM reports 3QFY2022 earnings of $32.2 million, up 38.3%
Venture Corp reports 3QFY2022 earnings of $97.4 million, up 26.4% y-o-y
OUE C-REIT reports 13.3% y-o-y lower distributable income of $26.2 mil for 3QFY2022
FSL Trust reverses from net loss to report 3QFY2022 net profit of US$5.4 mil
Aztech Global reports 34.2% y-o-y growth in net profit for 9MFY2022, proposes interim dividend of 3 cents
SingPost reports $9.9 mil loss for 1HFY2022 due to exceptional charge of $21 mil
Nanofilm targets earnings and revenue of $100 mil and $500 mil respectively by 2025
Netlink NBN Trust reports 2.3% higher DPU at 2.62 cents for 1HFY2023
The Hour Glass reports 35% higher earnings to $85.5 mil for 1HFY2023
Great Eastern Holdings reports 30% higher 3QFY2022 earnings of $278 mil from higher profit from insurance business
SIA Engineering reports 30% higher earnings of $32.5 mil for 1HFY2022/2023
Centurion’s revenue increases by 35% y-o-y to $134.9 mil for 9MFY2022 amid healthy rental rate reversions
Nio Inc delivers 10,059 vehicles in October, up 174.3% y-o-y
Japfa reports 59.3% decline in PATMI for 9MFY2022 despite revenue growth in all segments
Raffles Medical Group reports 62.1% surge in 3QFY2022 profit after tax of $38.3 mil
LREIT maintains portfolio resiliency in 1QFY2023
REITs
Manulife US REIT occupancy slips further in 3QFY2022, doubles down on 'hotelisation', portfolio rejuvenation
ARA US Hospitality Trust outperforms in 9MFY2022 amid travel recovery
Frasers Hospitality Trust posts 22.4% increase in FY2022 DPS to 1.6355 cents
FHT reports higher distribution of 0.9316 cents per unit
CapitaLand Investment shows performance growth across all growth drivers in 3QFY2022
Parkway Life REIT reports 0.1% y-o-y increase in 9MFY2022 NPI of $82.8 mil
LHN Logistics reports loss of $4.3 mil for FY2022
CapitaLand Ascendas REIT maintains steady portfolio occupancy rate of 94.5% for 3QFY2022
CapitaLand China Trust reports NPI of $188.5 mil for 9MFY2022
CapitaLand India Trust reports 4% higher NPI of $41.5 mil for 3QFY2022
Far East Orchard reverses into profitability of $7.0 mil for the 9MFY2022
SG Earning Announcement Dates
Last Update : 3rd Nov 2022
📍Economic Calendar: 6th - 11th Nov📍
Singapore
(Monday, November 7, 2022)
Foreign Reserves USD (MoM) Oct (286.1B ➡️ 282.3B)
United States
(Monday, November 7, 2022)
CB Employment Trends Index Oct
(Tuesday, November 8, 2022)
U.S. Mid Term Elections
(Wednesday, November 9, 2022)
Crude Oil Inventories
(Thursday, November 10, 2022)
CPI (YoY) Oct
PPI (YoY) Oct
Initial Jobless Claims
Federal Budget Balance Oct
🕳️
Next 2022 FOMC Meetings:
December. 14-15
China / Hong Kong
((Sunday, November 6, 2022))
China, Exports (YoY) Oct (5.7% ➡️ -0.3%)
China, Imports (YoY) Oct (0.3% ➡️ -0.7%)
China, Trade Balance (84.74B ➡️ 85.15B)
(Tuesday, November 8, 2022)
China, CPI (YoY) Oct
China, PPI (YoY) Oct
(Friday, November 11, 2022)
HK, GDP (YoY) Q3
🌀
Last Week Economic Data Review :
Singapore
Bank Lending (842.8B ➡️ 838.8B)
Business Expectations (Q3) (-8.00 ➡️ -20.00)
Retail Sales (YoY) Sep (13.3% ➡️11.2%)
United States
(Tuesday, November 1, 2022)
ISM Manufacturing PMI (50.9 ➡️50.2)
JOLTs Job Openings (10.28M ➡️10.717M)
API Weekly Crude Oil Stock (4.52M ➡️-6.53M)
ADP Nonfarm Employment Change (192K➡️239K)
Crude Oil Inventories (2.588M➡️-3.115M)
Fed Interest Rate Decision, FOMC Statement
(3.25%➡️4.00%)
Exports (260.80B ➡️258.00B)
Imports (326.50B ➡️331.30B)
Trade Balance Sep (-65.70B ➡️-73.30B)
Initial Jobless Claims (218K ➡️217K)
S&P Global Composite PMI (49.5 ➡️47.8)
Services PMI (49.3 ➡️47.8)
ISM Non-Manufacturing PMI Oct (56.7 ➡️54.4)
Nonfarm Payrolls Oct (315K ➡️261K)
Unemployment Rate Oct (3.5% ➡️3.7%)
British
BoE Interest Rate Decision (2.25%➡️3%)
Australia
RBA Interest Rate Decision (Nov) (2.6%➡️2.85%)
China / Hong Kong
China, Manufacturing PMI (Oct) (50.1➡️49.2)
HKD, GDP (YoY) (-1.3% ➡️-4.5%)
China, Caixin Manufacturing PMI (Oct) (48.1➡️49.2)
HKD, Manufacturing PMI (Oct) (48.0➡️49.3)
HKD, Interest Rate Decision (3.50%➡️4.25%)
China, Caixin Services PMI (Oct) (49.3➡️48.4)
“The measure of intelligence is the ability to change.” — Albert Einstein
📌
Other Focus (Highlights of Results / Corporate Actions):
Other extracted news:
Prudential helps SMEs go digital in business, health and wealth with Pulse
Keong Hong awarded $70 million contract
Chip Eng Seng's Tang still in discussion over 'possible transaction'
Chinese trade unexpectedly drops as domestic, global demand slow
ComfortDelGro wins 3 Sydney metropolitan bus tenders worth A$1.7 bil
Apple cuts outlook for iPhone shipments, cites China lockdowns
MSCI launches new digital asset indexes
MAS outlines five desired outcomes of Singapore fintech collaboration
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SGX & Other Newsfeed
💡 SGX <Analyst Research>
📣Earnings Calendar - 7 Nov 2022 to 11 Nov 2022
19 SGX-listed companies will be announcing their financial results and business updates this week, including 3 STI constituents, Frasers Logistics & Commercial Trust, SATS, and Singtel.
🔖Bookmark our Economic Calendar at bit.ly/3SzOWId for weekly updates of key macroeconomic events, earnings releases and corporate actions in the global and Singapore markets!
📈 Mixed Oct Returns for Singapore's Most Traded Non-STI stocks
Singapore's 30 most traded stocks outside of the STI have seen ~S$670 million in net fund outflows in the 2022 YTD. They averaged -5% total return in 2022 YTD, compared to +1% for the STI and -16% for the FTSE Developed Index. The most represented sectors among the 30 stocks are REITs, technology, consumer non-cyclicals and the energy sectors. 5 of the 30 stocks that saw the highest net fund inflows proportionate to market value in the 2022 YTD (till 28 Oct) included Riverstone, Semb Marine, Sheng Siong, Golden Energy & Res, and CapitaLand Ascott Trust. Total returns of the five stocks over the 43 weeks varied from -10% for Riverstone to +202% for Golden Energy & Res.
Read more at: bit.ly/3DnizXH
📈 REIT Watch on The Business Times - CapitaLand Reits see operational growth in Q3
CapitaLand Investment (CLI), one of Singapore's largest global real estate investment managers, has a strong Asia foothold with an asset under management of S$125B as of Jun 30, 2022. CLI's funds business comprises 5 Reits and business trusts listed on the Singapore Exchange.
In September, Ascendas REIT, Ascott Residence Trust and Ascendas India Trust officially changed their names to align with the CapitaLand brand. They are now known as CapitaLand Ascendas REIT, CapitaLand Ascott Trust, and CapitaLand India Trust respectively.
All 5 Reits and business trusts have reported business updates for 3Q22.
Read on for a round-up of their latest highlights: bit.ly/3UaQmKY
Closing
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