Wolf Money(world market review 10-16 Jan 2022)
Market Summary 10-16 Jan 2022
๐บ๐ธ ๐บ๐ธ ๐บ๐ธ ๐บ๐ธ ๐บ๐ธ
- US inflation soared to 7% in Dec, sharpest 12-mth spike in 40 years
- Powell says rate hikes, tighter policy needed to control inflation
- US retail sales dropped by the most in 10 mths of 1.9% in Dec due to shortages of goods and explosion of Covid-19 infections
- Fed’s most important task is to control inflation: Brainard
+ US trade with China surges 28.7% to US$755.6bn in 2021
- US aims to end China’s ‘chokehold’ on rare-earth supplies, require dept of Interior n Defence to create “strategic reserve” of rare earth minerals by 2025
- US proved oil reserves slipped 19% over the course of 2020, from 44.2bn barrels to 35.8bn barrels: EIA
+ US public political concerns shift from virus to economy: poll
- FAA requires precautions for some Boeing 787 landings after new 5G launches
+ Visa announced plans to build a platform for creating and launching central bank digital currencies (CBDCs)
- US judge dismisses FB’s request to throw out monopoly case
- FB faces US$3.2bn UK class action over market dominance
- Tesla isn’t in India yet due to ‘challenges with the govt’: Elon Musk
+ Tesla’s global deliveries 50% came from China in 2021
- Delta Air lost US$408m in final qtr of 2021, 8000 employees hit with infection
+ BlackRock has become first public asset manager with asset reaching US$10 trillion
+ Moderna co-founder: pandemic could start moving into endemic phase in 2022
๐จ๐ณ ๐จ๐ณ ๐จ๐ณ ๐จ๐ณ ๐จ๐ณ
+ China’s trade topped US$6 trillion for the first time in 2021: customs data
+ China’s Q4 GDP economy likely grew at slowest pace in 1.5-year
+ Xi called for improved regulation and governance of China’s digital economy to guard against its “unhealthy” development
+ China aims for contribution of core industries in digital economy to reach 10% of GDP by 2025
+ China’s consumer prices rose by moderate 0.9% YoY in 2021: official data
+ China’s PPI climbed 10.3% YoY in Dec vs expected 11.1%: Reuters poll
+ China new bank lending hit record U$3.13 trillion in 2021
+ China’s crude oil imports drop for first time since 2001
+ China received record FDI in 2021 at 1.15 trillion yuan, or 20.2% rise in US dollar terms to US$173.48bn
+ China will build 6.5m low-cost rental homes across 40 major cities in 5 years through 2025
+ China set to keep borrowing cost of medium-term loans unchanged
+ China’s trade surplus hit US$676.43bn in 2021, highest since records started in 1950, vs US$523.99bn in 2020
+ China’s trade surplus with US was US$396.5bn for 2021
+ China-India trade hits record high of US$126bn, up 43.3% YoY
+ China trade with Australia stood at US$231.2bn in 2021, imports from Australia reached US$164.8bn, up 40% YoY
+ China sold 3.52m new energy vehicles in 2021, topping the world for 7 consecutive years
+ China’s state-backed Blockchain Services Network (BSN) plans to roll out infrastructure that allow individuals and businesses to make, sell and buy NFTs
+ China’s overseas applicants’ registered patents grew 23% in 2021
- China suspends more int’l flights to Shanghai after detecting 46 passengers with confirmed Covid-19 infections
+ China had 24 cities with GDP exceeding I trillion yuan (US$157.2bn) in 2021
+ China vowed to keep 116.7m hectare of irrigated farmland by 2020
+ Shanghai will beef up IP protection and build city into leading Int’l IP centre by 2035
- China’s port city of Tianjin reported increase in Covid-19 infections as Omicron spreads to Dalian
- Alibaba-backed chip developer ASR Microelectronic flops in Shanghai STAR Market debut, losing 1/3 of its value
+ Huawei working with Zambia’s mobile telecom in pilot program to roll out African nation’s first 5G network
+ Didi begun informal talks with HK Stock Exchange, could list by Q2 as it seeks to delist from NY
- Sunac China planned to raise US$580m from share sales for repayment of loans, general corporate purposes
- TikTok’s advertising revenue reached nearly US$4bn in 2021, aims to triple earnings to at least US$12bn this year
- HK suspends transit flights from around 150 countries and territories due to Covid-19
- Macau cuts casino license tenure, caps public float in new law
๐ฏ๐ต ๐ธ๐ป ๐ณ๐ฎ ๐
- Japan’s wholesale prices up 8.5% in Dec, 2nd highest jump on record amid higher crude oil and commodity prices
+ Japan’s govt to focus on nurturing private-sector innovation, not monetary policy to help economy: Kishida
-Japan’s current account in Nov contracted 49% YoY to US$7.8bn, declining for 4th straight mth
+ Toyota tops global auto sales in 2021 for 2nd year in row
- El Salvador crypto-friendly govt incurred first crypto losses
+ Nicaragua became the latest nation to join China Belt and Road Initiative cooperation
- Latin American’s economy expected to grow 2.1% in 2022 from previous forecast of 2.9%: UN
- NFT market has ballooned to US$44bn, rules about taxing the tokens are not clear: Chainalysis data
- Inflation in rich economies surges to a 25-year high: incoming Bundesbank chief
- Nickel prices has surged to its highest in a decade
๐ช๐บ ๐ฉ๐ช ๐ฌ๐ง ๐ซ๐ท ๐ช๐ธ ๐ณ๐ด
- Eurozone swung to small trade deficit in Nov from large surplus 12 mths due to energy bill
+ ECB ready to take any measures necessary to get inflation down to its 2% target
+ ECB is not expected to start raising rates until next year
+ Euro area will outgrow US economy over next 2 years: Goldman
- EU warns frequent Covid boosters could adversely affect immune response
- Europe half of the ppl could get infected by Covid-19: WHO
+ Germany economy grew 2.7% in 2021 after plunge of 4.6% in 2020 first Covid crisis year
+ German industry expects economy to grow by 3.5% in 2022
+ Volkswagen nearly doubled number of EVs it produced last year, delivering almost 432,000
+ UK economy grew 0.9% in Nov, finally bigger than before pandemic
+ UK number of jobs, institutions in finance sector shifting to EU due to Brexit has turned out to be far smaller than expected
- GSK rejected 50bn pound offer from Unilever for tis consumer goods arm, citing “fundamentally undervalued”
+ London Stock Exchange proposed a special market for private companies to trade their shares publicly on certain days
+ France’s 2021 budget deficit seen lower than expected at 7% GDP: Minister
- Spanish PM’s call for change in approach to handling Covid-19 pandemic
+ Norway gvot will allocate US$670m to compensate households for 300% rise in electricity price
๐ฎ๐ณ ๐ฐ๐ท ๐ฎ๐ท ๐ฐ๐ฟ ๐ฑ๐ฐ ๐ฐ๐ต
- India is experiencing 3rd wave of Covid infections but overall impact expected to be less disruptive than previous waves
+ India’s merchandise exports in Dec rose 39% to US$37.8bn YoY
+ South Korea to adopt RECP tariff rates starting from Feb 1
- Hyundai, Daewoo shipbuilders merger were rejected by EU
+ Iran and Saudi Arabia to re-establish diplomatic ties, to reopen their embassies in Tehran and Riyadh: Iranian lawmaker
+ Iran says 25-year China agreement enter implementation stage
- Kazakhstan’s may no longer be the bitcoin sanctuary it once was: some big miners
- Sri Lanka sough to reschedule its huge Chinese debt burden as foreign reserves dropped to just US$1.5bn end Nov 2021
- North Korea hacker stole US$400m in crypto last year: Chainalysis
๐ฎ๐ฉ ๐น๐ญ ๐ป๐ณ ๐ต๐ญ ๐ฐ๐ญ ๐ฒ๐พ ๐ธ๐ฌ
+ Indonesia’s GDP seen to grow 5.1% despite Omicron threat: HSBC
+ Indonesia trade surplus to narrow in 2022 as commodity prices normalise
- Garuda’s creditors demanded nearly US$14bn in claims as part of carrier’s debt restructuring
- Thai market weakness on proposed transaction tax offers a “good buying opportunity”: CGS-CIMB
+ Thailand will begin collection US$9 entry fee from foreign tourists starting from April
- Thai authorities consider reducing excise tax on diesel to deal with higher cost of living
+ Vietnam approved US$15.3bn in aid for Covid-hit economy
- Philippines will keep movement restrictions in Manila from Jan 16 to Jan 31 as daily Covid-19 infections hit record highs
+ Cambodia to have Ford setting up assembly plant for production of Ford Ranger and Ford Everest model
- Malaysia’s biodiesel exports to fall to 4-year low on European decarbonisation: MBA
- Genting HK plunges 56% on fears of more defaults
+ Johor port expects 1% YoY volume growth
+ Sabah hope to attract more tourists from China when the borders reopen to int’l visitors
+ Sg does not plan to shutter its borders in the face of Omicron virus variant: Minister
+ Sg container throughput rose to new record of 37.5m TEUs, retain as world’s busiest container transhipment port
+ GIC set to manage extra US$137bn in reserves
- Sg manpower shortage a key concern raised by panellists at pre-Budget roundtable
- Sg workers refuse to be inoculated against Covid-19 may risk losing jobs
+ Sg real estate market attracts US$26.2bn investment sales in 2021, clocking 10.4% YoY increase: Cushman & Wakefield
+ Sg e-commerce market projected to grow at compound annual growth rate of 16.2% to reach S$14.2bn by 2025: GlobalData
+ UOB to acquire Citigroup’s consumer banking assets in Indonesia, Malaysia, Thailand and Vietnam for almost S$5bn
- SIA has priced US$600m in fixed notes due 2029 at 3.375%
Contribution by Derek@valueinvestments chat group. Thank you.
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