Focal Point
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Reminder to stay vigilant of the ongoing scams
Please be reminded that there are ongoing scam concerning individuals recommending HKEx Small Cap & GEM, US small cap counters on the mobile application WeChat and Whatsapp. The counters recommended by these individuals have resulted in substantial losses to those investors who followed the recommendations. Channel News Asia has published a recent article on a “Pump and Dump” on a US-listed company.
Reference link: 'Pump and dump': Police warn of resurgence in stock-buying scam; victims cheated of US$1 million recently
Please be mindful of any exposure to HKEx Small Cap, GEM, US small cap counters and be vigilant and aware of such scams. As a precautionary measure to mitigate risk, we have suspended the buy function on all HKEx GEM counters (8XXX.HK) and certain HKEx Small Cap counters on POEMS.
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Jackson Hole Economic Symposium
Fed Chair Jerome Powell in a 10-minute speech at the annual Jackson Hole conference on Friday (26/8), Powell said returning the economy to price stability will take “some time” and will require bringing “some pain to households and businesses,” which he called the “unfortunate costs of reducing inflation.” quoted from Barron's
Reference link: Federal Reserve Chairman Jerome Powell speaks at Jackson Hole — 8/26/2022 (CNBC)
Dow Jones Index ⬇️ -1,008.38
DJ Index dropped 1000 points on Friday (US Indexes: Dow -3.03%, S&P -3.37%, Nasdaq -3.94%) after Powell signaled that the Federal Reserve is likely to keep the rising interest rate to continue staying high for a while to put a stop to the inflation.
Reference link: Monetary Policy and Price Stability
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Tesla : 3-1 stock split
Tesla split its stock for the second time last week, and the stock closed at US$891.29 on Wednesday before the 3-for-1 split took effect. On Thursday, the shares price rose 1.5 per cent to US$301.5 in premarket trading. Throughout the entire week, Tesla closed at US$284.60 on Friday.
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Investment tip takeaway 🦉 this week:
A directionless week after the Q2 earning announcement period was getting over soon... and economic data are putting back in focus with the soaring inflation.
Singapore
SG's Core CPI (YoY) / CPI (YoY), Jul, Previous: 4.4%/6.7%... Actual: 4.8%/7%
-> Consumer Price Index (CPI) measure changes in purchasing trends and inflation; consumers continue to pay high prices for foods, goods and services.
SG's Industrial Production (YoY) / Industrial Production (MoM),
Previous: 2.6%/-8.0%... Actual: 0.6%/-2.3%
-> Output produced by manufacturers, missed market expectation... Click HERE for Detail
United Stated
USD's New Home Sales (MoM) / New Home Sales, Jul,
Previous: -7.1%/-12.6%... Actual: 585K/511K
-> Drop in the number of new home sales
USD's API Weekly Crude Oil Stock, Previous: -0.448M... Actual: -5.632M
-> The decrease in crude inventories (in storage) is more than expected implies stronger demand and is bullish for crude prices
USD's Crude Oil Inventories, Previous: -7.056M... Actual: -3.282M
-> Number of barrels of commercial crude oil held by US firms... the increase in crude inventories is more than expected implies weaker demand and is bearish for crude prices
USD's Pending Home Sales (MoM), Previous: -8.9%... Actual: -1.0%
-> Number of homes under contract to be sold but still awaiting the closing transaction... increased.
USD's GDP (QoQ), Previous: -0.9%... Actual: -0.6%
-> Slight improved on economy's health
USD's Core PCE Price Index (MoM), Jul, Previous: 0.6%... Actual: 0.1%
-> Goods and services purchased by consumers for the purpose of consumption, excluding food and energy, dropped
In Comparison
SG's Trade Balance, Previous: 4.479B... Actual: 3.478B, announced last week
HK's Trade Balance, Previous: -68.5B... Actual: -27.6B
-> Hong Kong is catching up fast...
(Importance of Trade Balance: Country's Exports – Country's Imports) Trade surplus can create employment and economic growth, but may also lead to higher prices and interest rates within an economy
To Investors :
Our weak Industrial Production remained as the concern to investors, and with US indexes plunged 1000 points last Friday in correspondence to Fed Chair's speech on economy at the Jackson Hole Conference, it normally takes technically 3 - 5 days for the stock market to digest the news before the market could rebound again as investors may start bottom fishing if the share prices declined low enough and considered undervalued. Hence, investors need to be more patience this week.
As mentioned previously, after majority of the earnings surprises had been announced as scheduled, stock markets will go back to the fundamental issue: inflation. Therefore, investors need to take note of this week economic data and for Singapore, the retail sales index as well as the manufacturing PMI will be released this coming Friday. (The retail sales is one of the important economic indicator, that measures the consumer spending which can drive our economy. And the manufacturing PMI is the leading indicator that measures the performance of the manufacturing sector, which reflect whether the economy has really been recovered and expanding for good.)
Other link: Singapore Manufacturing Production
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My Interview with ZaoBao:
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Next Week Focal Point :
📣 Singapore: Retail Sales (YoY) Jul and Manufacturing PMI Aug, will be announced this coming Friday.
📣 United State, important indexes to take note:
CB Consumer Confidence (announced on Tues),
Crude Oil Inventories (announced on Wed),
ISM Manufacturing Employment Aug (announced on Thu),
Unemployment Rate Aug (announced on Fri),
"Success is walking from failure to failure with no loss of enthusiasm."📌
Other Focus (Results and Highlights of Corporate Actions):
💡 SGX <Analyst Research>
Results :
Avi-Tech | FY2022 | Reported net profit falls 9.7% y-o-y to $3.1 mil despite revenue growth EPS : 1.84 cents | a final dividend of 1.0 cent per share |
ESR Group | 1HFY2021 | Reports revenue of US$432 mil, up 9.4% from previous year's pro-forma revenue | an interim dividend of 12.5 HK cents |
F J Benjamin | 2HFY2022 | Reports earnings of $4.3 mil, reversing from previous year's loss EPS : 0.37 cents | - |
IHH Healthcare | 2QFY2022 | Reported earnings of RM612 mil, up 27% y-o-y EPS of 6.69 sen for the quarter | - |
iX Biopharma | FY2022 | Reported loss despite eight-fold rise in revenue Loss per share: 0.62 cent on a fully diluted basis | - |
Singtel | 1QFY2022 | Reported net profit up by 41.3% y-o-y to $628 mil | - |
Tai Sin Electric | FY2022 | Reported earnings of $22 mil with demand for electronics sustained EPS: 4.78 cents | an interim tax-exempt dividends of 0.75 cents |
UG Healthcare | 2HFY2022 | Report earnings down by 75.6% to $15.5 mil, proposes special dividend EPS: 2.48 cents | a special dividend of 32 cents per share and a final dividend of 32 cents per share |
Wing Tai | FY2022 | Reported 222% surge in earnings of $140.2 mil from higher contributions from associated and JV companies EPS: 16.62 cents on a fully diluted basis | a total dividend of 6 cents per share |
Zhongxin Fruit | FY2022 | Reverses to earnings of RMB47.4 mil, boosted by RMB27.5 million settlement payout EPS: RMB4.49 on a fully diluted basis | - |
Other extracted news:
Grab reduced loss by 29% to US$572 mil in 2QFY2022.
Singapore MAS wraps up Noble probe with $12.6 million civil penalty
Coming Market Focus (Extract):
Monday, August 29, 2022 | |
USD | Dallas Fed Mfg Business Index |
Tuesday, August 30, 2022 | |
SGD | Bank Lending |
USD | CB Consumer Confidence JOLTs Job Opening Jul FOMC Member Williams Speaks API Weekly Crude Oil Stock |
CNY | Chinese Composite PMI Aug Manufacturing PMI Aug Non-Manufacturing PMI Aug |
Wednesday, August 31, 2022 | |
USD | FOMC Member Mester Speaks ADP Nonfarm Employment Change Crude Oil Inventories Chicago Oil Inventories |
CNY HKD | Caixin Manufacturing PMI Aug M3 Money Supply Jul Retail Sales YoY Jul |
Thursday, September 1, 2022 | |
USD | Initial Jobless Claims ADP Nonfarm Employment Change Jun Nonfarm Productivity QoQ Q2 ISM Manufacturing Employment Aug ISM Manufacturing PMI Aug |
HKD | Exports / Imports (MoM) Jul, Trade Balance |
Friday, September 2, 2022 | |
SGD | Retail Sales (MoM) Jul Retail Sales (YoY) Jul Manufacturing PMI Aug |
USD | Unemployment Rate Aug Participation Rate Aug Nonfarm Payrolls Aug |
p.s:
Next FOMC Meetings 2022; September. 20-21
Avant-Garde : Blockchain, NFTs, Metaverse... and Emerging New Wave
📣Highlights: Emerging Nuclear Energy Countries
Crypto-currency pricing trend:
This Week, let take a look at 6G Networks
6G - the sixth generation of wireless technology, and though it is not exist in the market at the moment. But there have been several companies, research institutes and even countries, working on a great deal of researches and some had even successfully launched its own testbeds to develop this latest technologies to compete in the global race of being the first to take on the leadership of the 6G network... Who will be the ultimate 6G leader and who are the leading hardware vendors, worth our attentions... to spot on
Reference Link: What Is 6G and What Will It Look Like?
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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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.
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