( My Recommendation đ )
Market forecast for 4th Week of April
My call (long) this month (till first week of May):
Property / REIT
Transportation
Semiconductor industry / Chip makers (only April)
Remain bullish... but STI may pull back when comes to 2nd part of this week. Traders may consider profit-take latest by Wed morning...
With Apple shifting its focus away from China, the first Apple store was officially opened last week in India. And Japan will host G7 Summit in May, as such the flow of funds may buy into India and Japan, that in turn boost the performance of BSE and Nikkei 225. Hence, HSI Tech sector may face selling pressures from fund managers. However,
In addition, the market is currently forecasting the coming rate hike at the increase of 25 basis points in coming FOMC on 2-3 May, even though the US economic data that released last week looked worrisome that US recession may seem unavoidable. Therefore, after this week, investors should get ready to close off some long positions.
Market Update for 11 - 24 Apr 2023
Investor's Must-Know
Past Economic Events to note last week:
Singapore
Hightlights
Economic Data (last week)
GDP : qoq : 0.1% to -0.7%, yoy : 2.1% to 0.1%
Non-Oil Exports : Mar mom : -8.20% to 18.40%, yoy : -15.80% to -8.30%
Trade Balance : 6.687B to 6.166B
United States
Hightlights
In August 2020, Buffett's global conglomerate Berkshire Hathaway revealed it had acquired just over 5% of each of the country's top five trading houses: Itochu, Mitsubishi Corp., Mitsui & Co., Sumitomo Corp., and Marubeni. Last week, Buffett boosts stakes in Japanese trading houses, may invest more... [Reuters]
TSMC wants $15 billion in government aid for its U.S. chips plant [Fortune]
US Earning Announcement period started [Yahoo]
Biden Aims to Unveil China Investment Curbs With G-7 Backing [Bloomberg]
Economic Data (last week)
CPI : Mar mom : 0.4% to 0.1%, yoy : 6.0% to 5.0%
Core CPI : Mar mom : 0.5% to 0.4%, yoy : 5.5% to 5.6%
Crude Oil Inventories : -3.739M to 0.597M to -4.581M
Federal Budget Balance : -262.0B to -378.0B
Initial Jobless Claims : 228K to 239K to 245K
PPI : Mar mom : 0.0% to -0.5%
Reserve Bal w/ Fed Reserve Banks 3.381T to 3.348T to 3.165T
Retail Sales : Mar mom : -0.2% to -1.0%, yoy : 5.88% to 2.94%
Core Retail Sales : Mar mom : 0.0% to -0.8%
Ind Production : Mar mom : 0.2% to 0.4%, yoy : 0.95% to 0.53%
NY Empire State Manufacturing Index -24.60 to 10.80
Building Permit Mar mom :15.8% to -8.8%
Housing Starts Mar mom : 7.3% to -0.8%
Philadelphia Fed Manufacturing Index -23.2 to -31.3
Existing Home Sales Mar mom : 13.8% to -2.4%
Manufacturing PMI Apr : 49.2 to 50.4
Service PMI Apr : 52.6 to 53.7
Other Countries
China, Hong Kong
China's consumer, factory prices skid as demand falters [Reuters]
China's GDP yoy (Q1) from 2.9% to 4.5%
China's GDP qoq (Q1) from 0.6% to 2.2%
China's Industrial Production yoy from 2.4% to 3.9%
Japan
Japan approves building of first casino
G7 Japan Hiroshima Summit 2023: May 19th -21st
Warren Buffett's firm increases stakes in 5 Japanese trading houses
Observation: Nikkei 225 has been climbing higher, and ever crossed 28,650 points last week...
( My Recommendation đŞđŞ )
Europe
FTSE 100, DAX, CAC 40 and EURO STOXX 50... the European indexes are advancing in the upbeat sentiment
Why European stocks are crushing US peers [CNN]
Observation: European Indexes had been rising for months and still intact with upward trend
Coming Important Economic Data to take note:
âĄď¸Singapore
Monday, April 24, 2023 : Core CPI , CPI
Wednesday, April 26, 2023 : Industrial Production***
Thursday, April 27, 2023 : Unemployment Rate
: URA Property Index
: Bank Lending
Friday, April 28, 2023 : Business Expectations
âĄď¸United States
Tuesday, April 25, 2023 : Building Permits
: CB Consumer Confidence**
: New Homes Sales
Wednesday, April 26, 2023 : Durable Goods Orders
: Crude Oil Inventories
Thursday, April 27, 2023 : GDP qoq
: Initial Jobless Claims***
: Pending Home Sales
Friday, April 28, 2023 : PCE Price Index
: Michigan Consumer Expectations / Sentiment
âĄď¸China
Saturday, April 29, 2023 : Caixin Manufacturing PMI
Market Focus that Matters
đ đHighlightsđ
IMF Warnings include :
Gold prices was at record up in early April
BRICS Currencies vs USD
China, Brazil strike deal to ditch dollar for trade [ST]
MAS sets aside $15 mil and five-year extension for grant supporting green bonds, loans
đ đSG Earning Announcementđ
Watch out for the First Quarter Earning reporting season in Apr-May 2023...
đ
đSGX & Other Newsfeedđ
CASH PLUS Promotion:
Low-commission trading account is available... and check out for Promotion Details
(Waived for US and HK Foreign Custody fee until 31 December 2022.)
Important Disclaimer
A. Reminders: 1. Phillip Securities Pte Ltd ("PSPL") will generally provide you "execution only" services - see Guide and Cautionary Notes for Trading Accounts on www.poems.com.sg. You are therefore personally responsible to make your own decisions on the suitability of every securities transaction you do through PSPL. One exception is if you specifically apply and pay for advice from PSPL. The other is referred to in reminder 2. 2. Execution-Related Advice ("ERA") on listed Excluded Investment Products may be given to you, but only subject to strict conditions. These include (a) you accepting personal responsibility to ensure any such advice is suitable before you act on it, and (b) you ensuring that you both receive and understand the rationale for every ERA given to you. 3. Materials (including market and analyst reports) are provided to you as information on an execution only basis for you to make your own suitability decisions. Materials which are not ERA are provided strictly as you asked. These reminders apply to the contents of this e-mail as well as any and all accompanying materials sent under its cover. B. General Disclaimer: The information/materials provided (whether as attachments to this e-mail or in its body), where they are not ERA on listed Excluded Investment Products in compliance with the second reminder above, are provided for general information/circulation only and not intended and therefore should not be taken as any offer or solicitation to do any investment or trade. No assessment has been made by PSPL as to the suitability for you of any materials in or under this e-mail. As always, the decision to trade and/or invest remains solely with you. Information/materials in or under this e-mail are provided as is without warranty of any kind, either express or implied. Such information/materials provided have been procured from sources which are believed to be reliable and accurate (but whose reliability and accuracy cannot be and are not warranted); and may have been acted on by PSPL or members of the PhillipCapital group of entities before being made available to you. All investments are subject to investment risks. Ideally you should and you may wish to seek advice from an independent financial adviser before making a commitment to purchase or invest in the investment product(s) mentioned either in this e-mail or its attachment(s). If you choose not to do so, you are then choosing to make your own decision on whether any of the said investment product(s) are suitable for you. Neither PSPL nor any fellow member of the PhillipCapital group of entities shall, in any event, be liable to you for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on any information in and/or materials attached to this email. C. General Confidentiality Note: This e-mail and its attachment(s) are intended only for the use of the recipient(s) named above. If you have received this message in error, please notify the sender immediately and delete all copies of it.
Confidentiality Note
This e-mail and its attachment(s) are intended only for the use of the recipient(s) named above. If you have received this message in error, please notify the sender immediately and delete all copies of it.
Comments