- Q3 Earnings: Expect business performance insights from companies listed on the Singapore Exchange (SGX) especially in the real estate investment trusts (REITs), agribusiness, and technology sectors.
- Economic Indicators: Catch latest unemployment rates and money supply trends, which may signal broader economic health in Singapore.
- Global Data: Earnings from ‘Magnificent 7’ stocks, US GDP growth, Japan’s interest rate decision, alongside China’s manufacturing data, could influence sentiment on SGX.
As we head into the last days of October, Singapore’s market is anticipating third quarter (Q3) earnings releases as more REITs are scheduled to release their business updates. Key economic indicators of the country include its Q3 preliminary unemployment rate as well as money supply M1 and M2 data. Meanwhile, global data releases from US tech giants’ earnings to China’s manufacturing data add an international dimension that could sway sentiment.
1. SGX Q3 Earnings
Earnings season continues to heat up on the SGX, leading the list are:
- Wilmar International Ltd (SGX:F34): As a large-cap player in agribusiness, Wilmar’s results will be indicative of trends in global demand and inflationary pressures on commodities.
- Mapletree Industrial Trust (MIT) (SGX:ME8U): Investors will closely examine the REIT’s performance, especially in the hi-tech buildings, data centres, and business park buildings.
- Aztech Global Ltd (SGX:8AZ): With Aztech’s exposure to the electronics sector, its performance will give a sense of manufacturing trends in IoT devices, data-communication products, and LED lighting products.
Other notable releases include CapitaLand China Trust (CLCT) (SGX:AU8U), shedding light on China’s retail sector, and CapitaLand Ascott Trust (SGX:HMN), reflecting on serviced residences and hospitality sectors.
Additionally company releases include CDL Hospitality Trusts (SGX:J85), Starhill Global REIT (SGX:P40U), First REIT (SGX:AW9U), Lippo Malls Indonesia Retail Trust (SGX:D5IU), Far East Hospitality Trust (SGX:Q5T), and Micro-Mechanics Holdings Ltd (SGX:5DD).
2. Singapore Economic Indicators
Singapore’s macroeconomic data releases this week include:
- Q3 Preliminary Unemployment Rate: Investors eye unemployment trends closely as they influence consumer confidence. In Q2 2024, the rate was 2%, slightly down from 2.1% in Q1.
- Money Supply (M1 and M2): Changes in money supply reveal liquidity conditions, which could signal economic growth potential or inflationary risks.
- Deposits and Balances of Residents Outside Singapore: This data will provide insights into capital flows and the financial stability of the banking sector.
3. Global Economic Data
On the global front, investors are watching closely:
- United States: The advance estimate of Q3 GDP growth, coupled with labor data like non-farm payrolls and Personal Consumption Expenditures (PCE) inflation, will be pivotal for gauging US economic momentum. The earnings reports from five ‘Magnificent 7’ companies—Apple, Microsoft, Amazon, Meta, and Alphabet—will offer insights into the tech sector’s resilience.
- Eurozone: Inflation and GDP data from Germany, France, and Spain will indicate economic health across Europe. Germany’s consumer sentiment and retail sales data will provide clues into the country’s consumption patterns.
- Asia: China’s manufacturing PMI data and Japan’s interest rate decision are key events, with implications for supply chains and trade flows affecting SGX-listed companies. In Taiwan and Hong Kong, Q3 GDP data could be important for assessing economic growth in these regions.
Closing Summary
This week promises a packed agenda for investors with earnings releases from many SGX-listed companies, Singapore’s unemployment and money supply data, and influential global data points. Keep a close watch on leading indicators as they signal how the SGX might fare going into the final quarter of the year.
Disclaimer: ProsperUs Manager of Content Hailey Chung doesn’t own shares of any mentioned companies.
Reference
Economic Calendar | SGX Academy
