It is going to be a holiday-shortened trading week in Singapore next week. The Singapore bourse will be closed on Monday. Elsewhere in Asia, the Shanghai market will be closed from Monday to Thursday, Hong Kong will be shut on Monday and Tuesday, while Bursa Malaysia will be closed on Monday.
Ascendas REIT (SGX: A17U) is pencilled in for third-quarter results on Friday. In November, the business-space landlord upped its distribution per unit thanks to a full-quarter contribution from its UK logistics properties.
The REIT, which also has properties in Australia, said it will continue to diversify its portfolio geographically to ensure resilience and future growth.
The Fed decides
On the economic front, the US Fed will announce its latest interest-rate decision. It would be a massive shock if it did anything other than leave the Fed fund rate unchanged at 1.75%.
The US will also provide a first estimate of its GDP growth rate for the fourth quarter. It is reckoned that the economy expanded 2.1% in the final three months of 2019.
Across the pond, the Eurozone could say that the economy expanded at an annualised rate of 1% in the fourth quarter compared to 1.2% in the previous three months.
Wuhan woes
China is on an extended Lunar New Year break. So, economic numbers will be in short supply. But look out for updates on how the Wuhan virus outbreak could affect Singapore businesses that are exposed to China.
China will report purchasing-managers’ indices for the manufacturing and non-manufacturing sectors. Both sectors could show modest expansion.
And finally, Singapore will release bank lending numbers for December. In November, lending jumped to an all-time high of S$692.7 billion. But it could moderate to around S$672 billion this time.
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Disclosure: David Kuo owns shares in Ascendas REIT.
