Buy now... Is bottom-fishing or catching the falling knife?
The market obviously had made a comeback after the Fed Minutes last Wednesday, but whether the rebound was driven by short covering or the market had eventually digested the 50 basis points and move on, or investors are bottom fishing... I think it still too early to tell because there are many economic data awaiting in line to be announced over the entire week, that will weigh on the market sentiments. Therefore investors need to take note, if taking Nasdaq as a benchmark for the last 2 years of bull run on Tech stocks, it had risen from the bottom of 6,630 points in Mar 2020, hit the highest of 16,200 points in Nov 2021 till now retrace exactly 50%, hovering at 11,440 level last week. With inflation continues showing no sign of falling, the aggressive move of raising interest rates may not enough to steer the economies back on track.
Investors can consider to hold your buy next week. If you are a short-term trader, can consider to focus more on the market sentiment towards the economics data released for the month of May as it should reflect the current market health for investment. For long term investors, you can consider to buy after the mid of June.
Federal Reserve officials agreed at their gathering this month that they need to raise interest rates in half-point steps at their next two meetings, continuing an aggressive set of moves that ...
Weeks ago, China had started revising policies like cutting tax, relaxing rules and regulations on loan financing to help businesses and property sector to get through the current difficult times. The China government had also pointed out their current foremost concerns, which included unemployment, inflations.... With the worst-than-expected reports on economies data released last week, suggested the entire lockdown on the few key cities like Shanghai and Beijing for Zero-Covid policies may have overkilled, and made the worrisome-enough economies one step closer to recessions.
The corporate earning result announcement period continues and counters like Alibaba, Baidu... had received a fresh new call of buy, but with lower target prices.
US IPEF and China's Pacific Strategy
Last but not least, I think the resources-rich ASEAN and their neighbouring countries, Solomon Islands, had finally received a widespread attentions worldwide. Previously, the impact to the world over the recent bans on food and resources exports were devastating to non-agricultural countries in the midst of the rising food prices. Though the current situations seem better controlled, all kind of commodities will still continue to stay at high prices for a long while. Investors need to take note of it.
The United States formally introduced the Indo-Pacific Economic Framework, or IPEF, on last Monday, along with 12 initial partners
Other Focus (Results, and Corporate Actions Highlights):
Singtel posts net profit of $1.95 billion in FY2022
Econ Healthcare posts $1.26 mil loss for 2HFY2022 after losing $3.4 mil on Crosstech exit
Yongmao posts earnings of RMB55.3 mil for FY2022
Metro Holdings takes 10% stake in Hyphens Pharma subsidiary DocMed at $60 mil valuation
Metro's net profit falls 35% in FY2022 on impairment loss
MAS launches 2022 Global FinTech Hackcelerator focussing on Web 3.0 and green finance
Boustead Singapore reports 73% plunge in net profit of $30.6 million for FY2022
The Hour Glass’ earnings up 86% for FY2022, crosses $1 billion revenue mark
IHH Healthcare reports earnings of RM493 million for 1QFY2022, up 31% y-o-y
MAS imposes additional capital requirement of $330 mil on OCBC, dividend will not be affected
Sats reports full year earnings with government support, warns of costs pressures even as volume picks up
Jubilee Industries Holdings registers wider net loss for 2HFY2022 despite 32.4% growth in revenue
Yangzijiang Financial Holding to improve dividend payout to at least 40% of earnings
GoTo posts 54% growth in gross revenue for 1QFY2022 in first quarterly report since IPO
Coming Market Focus (Extract):
Monday, May 30, 2022 | |
USD | Holiday; Memorial Day |
USD | Fed Waller Speaks |
Tuesday, May 31, 2022 | |
USD | CB Consumer Confidence, May |
USD | Chicago PMI, May |
CNY | Caixin Manufacturing PMI, May |
AUD | GDP, qoq, yoy, q1 |
CAD | GDP, qoq, yoy, q1 |
Wednesday, June 1, 2022 | |
GBP | Manufacturing PMI, May |
USD | ADP Nonfarm Employment Change, May |
USD | ISM Manufacturing PMI, May |
USD | FOMC Members Speak |
USD | API Weekly Crude Oil Stock |
Thursday, June 2, 2022 | |
GBP | Holiday; Bank Holiday |
USD | OPEC Meeting |
USD | Initial Jobless Claims |
USD | ADP Nonfarm Employment Change, May |
USD | Crude Oil Investories |
USD | FOMC Member Mester Speaks |
Friday, June 3, 2022 | |
GBP | Holiday; Bank Holiday |
HKD | Holiday; Dragon Boat Festival |
CNY | Holiday; Dragon Boat Festival |
SGD | Resale Sales, mom, yoy |
USD | Unemployment Rate |
USD | Nonfarm Payrolls, May |
USD | ISM Non-Manufacturing PMI, May |
USD | FOMC Member Brainard Speaks |
News on Blockchain, NFTs and the Metaverse
Yesterday's Live Stream from Tesla CEO, Elon Musk, in discussion with Cathie Wood of ARK, and Jack Dorsey of Twitter on cryptocurrency.
#Elon #Musk #Bitcoin #BTC #Ethereum #ETH #Cryptocurrency #Teslabitcoin live news,latest bitcoin news,todays bitcoin news,bitcoin news,bitcoin 2022,bitcoin ne...
Investment Tips 💡 this month (May 2022) :)
STI had been hovering at 3200 critical level as you can see the following chart shown the red line is the SMA (Simple Moving Average) for 200 days and STI sitting right on it on Friday closing.
I am not so bearish this coming week until the 2nd weeks of June. I believed after more announcements are made right after this week, I should be tuned towards a more bearish market which currently still intact, and investors may consider to slow down the buying or may reduce some holdings if some of your holding had already in the profits. One point to note is that some lower return REITs may be under pressure of catching up with the rising interest rate to keep their investors to stay on with them, so investors need to take note of the REITs prices if you have a big portfolio of it on hands.
CASH PLUS Promotion:
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