- Q3 earnings season continues with financial heavyweights DBS, OCBC, and UOB reporting their results, as well as several STI constituents.
- US presidential elections, Federal Reserve’s monetary policy decision, and China’s lawmakers expecting to approve a major fiscal package.
- Retail sales, PMI, and foreign reserves will be key releases of new Singapore economic indicators.
As November begins, the Singapore market is poised for significant activity with a mix of corporate earnings, economic data releases, and global events. Investors will be closely monitoring more Singapore Exchange (SGX) Q3 earnings reports, economic indicators such as Singapore’s September retail sales and October PMI by S&P Global, and the impact of global developments like the US presidential elections and Federal Reserve’s policy decisions.
1. SGX Q3 Earnings Season
Financial heavyweights DBS Group Holdings Ltd (SGX: D05), Oversea-Chinese Banking Corporation (OCBC) (SGX: O39), and United Overseas Bank Ltd (SGX: U11), will take centre stage as they report their Q3 earnings, given their substantial influence on the market.
Several constituents of the Straits Times Index (STI) will also be reporting their earnings. These include CapitaLand Investment Ltd (SGX: 9CI), Frasers Logistics & Commercial Trust (SGX: BUOU), SATS Ltd (SGX: S58), Singapore Airlines Ltd (SGX: C6L), and CapitaLand Integrated Commercial Trust (SGX: C38U).
Additionally, investors can watch for updates from REITs such as NetLink NBN Trust (SGX: CJLU), AIMS APAC REIT (SGX: O5RU), Cromwell European REIT (SGX: CNNU), Frasers Hospitality Trust (SGX: ACV), Manulife US REIT (SGX: BTOU), and Elite UK REIT (SGX: MXNU).
Other companies reporting include Great Eastern Holdings Ltd (SGX: G07), SIA Engineering Co Ltd (SGX: S59), and Singapore Post Ltd (SGX: S08).
2. US Developments
- US Presidential Elections: The outcome will have significant implications for global markets, including Singapore, given the US is the biggest source of foreign direct investment.
- Federal Reserve Monetary Policy Decision: A quarter-point move is anticipated from the Fed decision on Thursday. This decision will also provide insights into the Fed’s plans for the rest of the year, impacting global financial markets and investor sentiment.
3. Singapore Economic Data Releases
- Retail Sales: September’s retail sales data will be closely watched after a 0.6% year-on-year increase in August, which was a slight easing from the previous month’s 1% advance. Month-on-month, retail trade rose by 0.7% in August, down from a five-month high of 3.1% in July.
- S&P Global Singapore PMI: October’s PMI will be released, following a drop to 56.6 in September from August’s near two-year high of 57.6, marking the softest expansion in three months.
- Foreign Reserves: October’s foreign exchange reserves data will be scrutinized after a decrease to S$499.7 billion in September from S$501.3 billion in August, the smallest amount since March.
4. Global Developments
- Bank of England Interest Rate Decision: A 25-basis point rate cut is expected in response to slowing economic growth and persistent inflation, following a decision to hold rates steady in September.
- China’s Economic Updates: Starting Monday, China’s lawmakers will begin a week-long session likely to approve the largest fiscal package since the pandemic to boost confidence in the economy. Other key data releases include Chinese trade data and the non-manufacturing private PMI.
Retail investors should stay informed about the upcoming earnings reports in the SGX and local economic data releases like the retail sales and the S&P Global PMI. Monitoring these events can provide valuable insights into market trends and help in making informed investment decisions.
Global developments this week are particularly significant, especially the US presidential elections and Federal Reserve’s policy decisions, as they will likely influence market sentiment and volatility.
Disclaimer: ProsperUs Manager of Content Hailey Chung doesn’t own shares of any mentioned companies.
Reference
Economic Calendar | SGX Academy
