We are at the tail end of the Singapore blue-chip earnings season. Just a couple more companies to go before the curtains can come down.
Singtel (SGX: Z74) is the only Straits Times Index company pencilled in for first-quarter results. In May, Singapore’s largest telecom company posted a 2% drop in full-year profit. It also took S$302 million exceptional charge for its Indian associate Bharti Airtel.
On the economic front, the initial jobless claims in the US will be scrutinised for signs that the jobs recovery could be gaining pace. The most recent data showed that the number of American filing new claims for unemployment dipped below 1 million for the first time since March.
China will announce its latest interest-rate decision. In July, the People’s Bank of China left its benchmark rate unchanged for the third straight month. It could hold the one-year loan prime rate at 3.85% again in August.
Japan is set to announce GDP numbers for the second quarter. It is expected to show that the economy contracted at an annualised rate of 25%. The country, which is already in a technical recession, is heavily dependent on exports that show little signs of reviving. The government’s massive stimulus package should help to cushion the economy. But domestic consumption might only recover slowly.
Thailand is also expected to report GDP figures for the second quarter. It could show that the economy shrank at an annualised rate of 14.5%. Thailand will also report trade figures, which could show a positive trade balance for July.
And finally, Malaysia will report inflation numbers that could show consumer prices fell around 1% compared to a year ago. In June, consumer prices fell 1.9% year on year with softer transport prices more than offsetting higher prices for food.
If you’d like to learn more investing concepts, and how to apply them to your investing needs, sign up for our free investing education newsletter, Get Smart! Click HERE to sign up now.
Get more stock updates on our Facebook page. Click here to like and follow us on Facebook.
Disclosure: David Kuo does not own any of the shares mentioned.
