Singapore’s earnings season should move up a notch next week with trading updates and results from a handful of blue chips.
Mapletree Industrial Trust (SGX: ME8U) is pencilled in for first-half results. In July, the industrial REIT said all property segments except for data centres recorded lower average occupancy rates compared to the previous quarter. At the time, MIT said even though it was still early to ascertain the trajectory of economic recovery, the manufacturing sector had anticipated a slightly better outlook ahead.
Industrial conglomerate Keppel Corporation (SGX: BN4) is set to deliver a third-quarter business update. In the second quarter, it reported a net loss of S$537 million because of impairments at its offshore and marine division. Keppel said that most of its businesses have remained resilient, underpinned by the essential services that they perform.
There could be trading updates from Ascendas REIT (SGX: A17U) and a host of Jardine related companies, too.
On the economic front, the US will report third-quarter GDP numbers that could show the economy bounced back between July and September. But the numbers refer to the three months before a resurgence of COVID-19 across many parts of the country.
Over on the other side of the world, the Communist Party of China will hold its annual meeting in which the next five-year economic plan will be unveiled. The policy document will be closely scrutinised for the country’s commitment to environmental issues and the opening of its economy to foreign companies.
Staying in the east, the Bank of Japan has an interest-rate decision. It would be a surprise if it does anything other than to keep the cost of borrowing unchanged at -0.1%. Other central banks with interest-rate decisions include the ECB, the Bank of Canada, and the Central Bank of Brazil. They are all expected to sit on their hands.
Malaysia will report trade numbers for September, which could show a sharp decline in the country’s trade balance with the rest of the world.
And finally, Singapore will report employment numbers for September. It could show that the proportion of people out of work rose from 2.8% in the previous month to 3.2%.
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Disclosure: David Kuo does not own shares in any of the companies mentioned.