Wolf Money(world market review 13-19 Sept 2021)

Hernando R Ocampo Philippines 1911-1978

Dancing Mutants circa 1965

 Collection of National Gallery Singapore 

Market Summary 13-19 Sept 2021

🇺🇸 🇺🇸 🇺🇸 🇺🇸 🇺🇸 

- US annual inflation at 5.3% in Aug 

+ US retail sales increased in Aug boost by online and furniture store purchases, offset continued decline auto dealerships  

- US consumer sentiment remained broadly unchanged in early Sept, at subdued levels after Aug big drop  

- US initial jobless claims increased to 332,000 from 312,000 a week earlier 

- US failure to raise its debt limit could lead to the unthinkable: Yellen 

+ US Aug import prices fell for the 1st time in 10 mths, down by 0.3% after 0.4% up in July, evidence inflation probably peaked  

- FDA rejected offering a 3rd booster shot of Pfizer-BioNTech Covid-19 vaccine to general US population 

+ Biden said rules are in the works for big employers requiring US workers to be vaccinated or tested 

- Biden: Extreme weather to cost US over US$100bn this year 

+ US-India singed preliminary agreements with US tech giants to get hands on India’s US$24bn worth of farm data  

- US continued to pressure its European allies to delay Nord Stream 2 project certification 

+ US resumed talks with Huawe, lawyers for its CFO an agreement that could allow her to return to China: Globe n Mail 

- Biden: US, UK to help Australia to build ‘conventionally armed’ nuclear submarines 

+ Boeing upgraded long-term demand forecasts on expectation domestic travel will recover to pre-Covid crisis levels in 2022

+ Apple announced new generation of iPhones, iPads 

- US probes possible insider trading and market manipulation at Binance 

-Coinbase aimed to bolster its balance sheet through US$1.5bn bond sale

🇨🇳 🇨🇳 🇨🇳 🇨🇳 🇨🇳 

+ China to steadily and prudently promote internationalization of yuan, to strengthen the monitoring of cross-border capital flows and prevent systemic risks 

+ China field application to join CPTPP once rejected by Trump as way to isolate China 

+ China’s industrial output expanded 5.3% YoY in Aug: NBS

+ China added 90 billion yuan (US$14bn) in cash into market amid Evergrande crisis  

+ PBOC raised country’s currency against US dollar by 69 basis points to its maximum since mid-June

+ Chinese authorities mull expanding business scope to domestic banks’ overseas yuan loans 

+ Shanghai Cooperation Organization studying using local currency settlement 

- China’s factory and retail sectors faltered in Aug, output and sales growth hitting 1-year lows on Covid-19 disruptions 

- China’s Aug new home prices rose at slowest pace in mths as cooling measures expected to limit home prices growth 

+ China’s FDI in first 8 mths of the year jumped 22.3% YoY to US$117.7bn, non-financial ODI down 1.3% 

+ China should curb tech monopolies to ensure growth: PBOC Advisor

+ Chinese internet firms told to tear down ‘Walls’ that block links to rivals 

+ China to formulate a set of standard for ultrafast 6G, push forward international standard for 6G

- China planning to break up Ant Gp’s Alipay and create a separate app for fintech giant’s loans business: media reports  

+ China extends tariff exemptions on 81 products from US by 7 mths 

+ China reduced its crude imports by 5.7% since start of 2021, boosted natural gas purchases by >20%

- China numerous sectors could be exposed to heightened credit risk if Evergrande were to default: Fitch 

- China’s crude steel output drops 4.1% in Aug from previous mth, YoY decline of 13.2% 

- Evergrande reportedly begun repaying investors in its wealth management products with property 

- Evergrande 6 executives had redeemed some of the investment products in advance earlier this year  

+ China will unswervingly support healthy development of private economy, alleviate pressure from rapidly rising costs on SMEs

- China urges miners to boost output as coal prices keep surging

+ CATL to invest US$2bn to boost Lithium-Ion product output 

- Yum China warned Q3 profits may be slashed in half on Delta outbreak 

+ Chinese leads the world in new energy vehicle manufacturing, sales: vice-premier

+ China unveiled plans to consolidate country’s EV industry, believes unable to evolve as it has far too many players 

- Soho China plummets after Balckstone takeover falls apart 

- China ordered its companies that broke laws and environmental standards in Congo to cease operating and leave the country 

- Hainan Airlines missed one yuan note repayment 

- Taiwan threatens to take China to WTO in new spat over fruit 

+ Taiwan called for quick start to trade talks with EU 

🇯🇵 🇷🇺 🇨🇦 🇺🇾 🌍 

+ Japan’s PM contender, vaccine minister wants to focus on energy, 5G

+ Japan’s exports surged 26.2% in Aug YoY

+ Japan’s manufacturers’ confidence worsened to 5-mth low in Sept

+ Russia regard the integration with China’s financial market its priority for next decade: Central Bank 

+ Russia’s digital ruble will become legal tender before 2030  

+ Russia’s natural gas reserves to last another 100 years: Gazprom

- Canada inflation hits 18-year high at 4.1% in Aug 

+ Uruguay pushing ahead with free trade talks with China, hoping to become gateway for regional Mercosur bloc 

+ OPEC predicts demand for all fuel types to surpass pre-pandemic level in 2022

+ Global economy expected to bounce back this year with growth of 5.3%: UNCTAD 

- Global debt rose to new record high of nearly US$300 trillion in Q2, but debt-to-GDP ratio declined 1st time since pandemic 

- Bitcoin’s power consumption for 2021 has already surpassed the whole of 2020 

🇪🇺 🇩🇪 🇬🇧 🇫🇷 🇬🇷 🇮🇱 🇨🇬 

+ Eurozone industrial production recovers despite supply chain issues, up by 1.5% in July

+ EU plans new chipmaking “ecosystem” to be competitive and self-sufficient 

- Eurozone’s trade surplus with rest of the world declined in July as imports grew faster rate than exports 

+ European Commission President called on EU to rival China’s Belt and Road Initiative 

- European gas prices hit another record this week, exceeding US$900 per 1000 cubic meters 

+ Europe-China freight train trips surging 32% YoY to >10,000 by end Aug 

- EU economy could be weaken due to soaring natural gas prices: Saxo Bank 

+ ECB policy maker De Cos is not foreseeing an interest rate hike in 2023

+ Germany economy to grow 2.1% in 2021, slower than expected, 4.9% in 2022: DIW 

+ German inflation expected to slow to 2-2.5% in 2022 from estimated 3% this year: Ifo

+ Germany would decide by next Jan 8 whether it will certify Nord Stream 2 and issue an operating license 

- UK inflation surged to 3.2% in Aug from 2% in July, sharpest increase in annual rate on record 

- UK retail sales volumes unexpectedly fell in Aug; sales dropped 0.9% 

- UK a major fertilizer manufacturer forced to shut down 2 factories due to soaring energy prices in Europe 

+ Johnson to reshuffle cabinet 

- France recalled ambassadors to US, Australia in protest of submarine deal 

+ Greece’s int’l air traffic picked up strongly in Aug 

-Israel eyes 4th dose  

- DR Congo probe claims of illicit mining against Chinese firms, suspended activities of 9 of them

🇦🇺 🇮🇳 🇰🇷 🇸🇦 🇦🇪 

- Australia cancelled 2016 submarine deal with France in favour of an alternative deal with US and UK 

+ Indian economy to expand to 4-year high of 7.2% in 2021: UNCTAD

+ India could be included in 2 major global bond indexes from end 2022: Goldman Sachs 

+ India needs US$8 trillion in green field assets to become a US$5 trillion economy by FY27: Deloitte 

+ India-UK FTA talks to begin on Nov 1

+ India considering tacking cryptocurrency trades and ecosystem in the country 

- South Korea leading opposition candidate warned of collapse in housing market, spike in bankruptcies as interest rates rise 

- South Korea fined Google US$177m for squeezing out rivals that might compete Android

- Bank of Korea says Covid lowered potential growth rate to 2%

+ Saudi Arabia plans to overhaul education system to boost workforce 

+ UAE will pursue aggressive trade talks with 8 countries, hoping to wrap up some within a year 

+ UAE set to invest up to US$14bn in UK, target infrastructure, clean energy and technology 

🇮🇩 🇹🇭 🇲🇲 🇱🇦 🇲🇾 🇸🇬 

- Indonesia’s special economic zones on track to attract S$8.7bn in local, foreign investment by end 2021

+ Indonesia’s trade surplus surged to record as exports rise at US$4.7bn in Aug 

+ Indonesia SEA’s first EV battery plant began construction by LG Energy and Hyundai Motor 

+ CK Hutchison, Ooredoo agreed to US$6.1bn Indonesia wireless merger 

- Garuda plans to remove 80 aircraft from its fleet and renegotiate or cancel orders >90 

+ Thailand unveiled plan to develop areas in Nong Khai for rail link with China 

- Bangkok will not reopen to foreign tourists on Oct 15 until >70% of residents fully vaccinated: governor 

- Myanmar’s garment industry union leaders fear another 200,000 garment workers could lose their job by year end 

+ Laos maybe the next country to legalize crypotcurrencies, authorized 6 companies to trade, mine cryptocurrencies  on experimental use 

- Malaysia govt, opposition to sign memorandum to work together to strengthen political stability

+ Malaysia govt agency to funnel seed-stage startups to funding programme 

+ Malaysia’s new Covid-19 cases fell to 55-day low of 14,954 on Sept 19 

+ AirAsia and Airbus reached deal to restructure jet order to salvage contract worth tens of billions of dollars 

+ Temasek, MAS, EDB, SGX offering successful homegrown firms more funding to boost listings of high-growth tech startsups on SGX

+ Sg NODX expanded 2.7% YoY in Aug, slowest pace since Nov due to drop in non-electronic shipments

+ Sg economy will continue to recover in 2022 on global recovery: Minister

+ Sg sets sustainable energy as main focus LTMS power project, supported by Laos, Thailand and Malaysia 

+ Sg commercial landlords will be required to give 2 weeks of mandatory rental waiver to qualifying tenants  

- Sg new private home sales down 24% to 1211 units in Aug 

+ Sg review of gig worker protections likely to include CPF contributions and work injury 

+ Sg job vacancies hit record high of 92,100 in June: MOM

- Grab’s net loss widens to US$815m in Q2bn, although revenue more than doubled

- Sg, HK threaten to retaliate against EU’s plan to force airlines to start using take-off and landing slots frozen during pandemic 

- SIA passenger traffic up 7.4% in Aug, capacity remained steady at 32% of pre-Covid levels 

+ Sg more Covid-19 patients to recover at home at default from Sept 18

- Mercedes in Singapore to go all-electric by 2030

Contribution by Derek@valueinvestments chat group. Thank you.

Please follow us on telegram for the latest update on Lone Wolf Investor by clicking on the link below 

https://t.me/joinchat/oCgkD3sQFRMzMWM1

Disclaimers 

All investments is highly speculative in nature and involves substantial risk of loss. We encourage our reader to invest very carefully. We also encourage reader to get personal advice from your professional investment advisor and to make independent investigations before acting on information that we publish. Much of our information is derived directly from information published by companies or submitted to governmental agencies on which we believe are reliable but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way whatsoever warrant or guarantee the success of any action you take in reliance on our statements. All information provided are for information only. Buyer beware,do you own due diligence.