Investment tip takeaway 🦉 this week:
The stock market this week will likely remain directionless and other than Singapore market, the rest of the Asian stock markets like Hang Seng and Nikkei closed lower on Monday as many investors taking a wait-and-see approach as FOMC Meeting will make another round of announcement on interest rate hike this coming Wednesday night (SG times).
And the current market forecast reckon on the US Fed Reserve may end the rate hike earlier than what it initially planned for since the chances of going into recessions are also increasing in reciprocal. The US markets last week began to embrace on the possible slower rate hike after July and rebounded in correspondence.
To Investors :
As mentioned in my Market Update 6th - 12th July 2022: I will remain cautious for short term trading... but I think buying in for long term can start anytime now........... I'm aware that some institutions don't encourage to buy on dip, but I am more optimistic...
In addition, being a SG investor and I want to pull the focus back to Singapore Market as I'm remain confident with STI index in 2022 based on the followings:
1. Strong Singapore Dollars
MAS had further tightened monetary policy, and will continue to do so again in October to strengthen SGD, in the effort to hedge against the aggressive rate hike from the U.S. And this will attract the global investors to park their money in our currency to avoid currency depreciation. And keeping the value of your holding currency is especially important in today's context.
2. SGX's effort in making secondary listing more efficient
With the recent listing of NIO on the SGX, more china companies that planned to delist from the US exchanges, are now having more choices of other exchanges to move on to for secondary listing.
Though, the current tightening of monetary policy can keep our spending power strong, but it need to be well managed as of not losing the competitive edge with other countries for production and manufacturing of goods for exportation.
🌀 Focal Point 1: FOMC Meeting
The upcoming FOMC meeting on July 26-27, will announce another rate hike this coming Wed night (SG times)... economists forecasted the Fed's rate hike may slow down after July's Fed meeting, and the market had responded positively last week. But selling pressure still started to build up last Thursday, and weaken the market sentiment. So be careful of any possible sell down after the FOMC meeting
🌀 Focal Point 2: Q2 Earning Announcements started
Beside POEMS will alert investors on the very day earning announcement of high profile companies before US market opening. Else Yahoo has it too... click here
"Keep your face always toward the sunshine, and shadows will fall behind you."📌
Other Focus (Results and Highlights of Corporate Actions):
Highlights:
Singapore's CPI all-items : 6.7% yoy in June (prev 5.6% in May)
MAS Core Inflation : 4.4% (prev 3.6% in May)
Results:
Mapletree Industrial Trust : DPU of 3.49 cents for 1QFY23
OUE C-REIT : DPU of 1.08 cents for 1HFY2022
Keppel DC REIT : DPU of 5.049 cents in 1HFY2022
Others:
MAS posts net loss of $7.4 bil for FY2021/22, warns of 'considerable downside risks'
iFast sinks into the red with $2.69 mil net loss in 2QFY2022 from one-off impairment and 'tough market conditions'
SATS records red ink of $22.5 million as it incurs higher costs to meet resumption of travel demand
Singtel achieves over 95% 5G standalone nationwide coverage
MNACT reports 4.1% higher NPI in 1QFY2022/2023
MLT records 5% rise in DPU in 1QFY2023
Apple to slow hiring and spending in 2023
Tesla sells majority of stake in Bitcoin
Coming Market Focus (Extract):
Monday, July 25, 2022 | |
SGD | CPI (YoY) Jun |
Tuesday, July 26, 2022 | |
SGD | Industrial Production (YoY) (MoM) Jun |
USD | CB Consumer Confidence Jul New Home Sales Jun |
SGD | Chinese Industrial Profit Jun |
Wednesday, July 27, 2022 | |
USD | Core Durable Goods Orders (MoM) Jun Pending Home Sales (MoM) Jun Crude Oil Inventories |
USD | FOMC Statement Fed Interest Rate Decision FOMC Press Conference |
AUD | Retail Sales (MoM) (Jun) |
Thursday, July 28, 2022 | |
USD | GDP (QoQ) Q2 GDP Price Index (QoQ) Q2 Initial Jobless Claims |
SGD | Bank Lending Unemployment Rate |
Friday, July 29, 2022 | |
USD | PCE Price Index Employment Cost Index Personal Spending |
Saturday, July 30, 2022 | |
CNY | Chinese Composite PMI Jul Manufacturing PMI Jul Non-Manufacturing PMI Jul |
p.s:
Next FOMC Meetings 2022; July. 26-27
Focus Point : Blockchain, NFTs and the Metaverse
Bitcoin rebounded to USD 24,000 last Wed, and now retreat back to 22,000 level. And critical support remain at 20,000 point.
Please take note that many cryptocurrency exchanges and crypto lenders platforms had suspended withdrawal by users as they are now facing liquidity pressure. Hence, traders still do crypto-currencies trading must take it as any other form of commodities and only deal with long-standing brokerage firms with strong financial standings.
And I recommend one Netflix documentary for your leisure viewing : Trust No One: The Hunt for the Crypto King ... Official Trailer
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.)
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