Wolf Money(world market review 27 Dec-2 Jan 2022)
Gift of the Artist’s family
Collection of National Gallery Singapore
Market Summary 27 Dec 2021 – 02 Jan 2022
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+ US holiday retail sales rise 8.5% from Nov 1 to Dec 24 as online shipping booms
+ US jobless claims drop below 200,000
- US trade deficit in goods hits record in Nov as imports surged, exports slipped, widen by 17.5% to US$97.8bn
+ S&P 500 ends at record, extending rally amid optimism latest Covid-19 strain will not significantly weigh on growth
- FAA warns travellers may face delays in coming days due to increased number of employees testing positive for Covid-19
+ US home prices surge 18.4% in Oct
- US adds near-record 497,151 daily virus cases
+ US equity funds receive big inflows as investor downgrade Omicron impact: Lipper
- US officials asked AT&T and Verizon to delay introduction of new 5G wireless service over aviation safety concerns
- US thousands of domestic and int’l flights delayed or cancelled on last day of the year
+ Apple secured top spot for phone sales in China for 2nd mth in a row in Nov of 23.6% market share
- Apple placed Foxconn Indian plant on probation over concerns food safety and accommodation conditions
- Tesla to recall >475,000 of Model 3 n Model S over safety issues
+ SpaceX raises >US$337m
+ Novavax to request emergency use authorisation for its Covid-19 vaccine from US
- IShares ESG MSCI EM Leaders ETF drop 91% AFTER biggest investor reduces ownership
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+ China’s manufacturing PMI rose to 50.3 in Dec vs 50.1 in Nov
+ China to roll out fiscal policies proactively to stabilise economic growth
+ China’s total imports and exports of goods expected >20% growth to reach US$6 trillion in 2021: Ministry
+ China’s industrial profits rose 9% in Nov YoY vs Oct 24.6% increase, up 38% for Jan to Nov on year: NBS
+ Xi’An foreign chipmakers plants continue operations despite lockdown, but at lower capacity
+ China will scale up tax and fee cuts to stabilise businesses after reducing estimated ¥1 trillion worth of taxes and fees in 2021
+ China expects retail sales to reach around ¥50 trillion (US$7.88 trillion) by 2025: MOFCOM
+ China to focus on continued recovery of consumption in 2022 and attracting more foreign investments: Ministry
+ China drafts rules requiring companies to improve management of their registration information
+ China will continue to exempt certain US goods from additional tariffs until June 2022
- China’s food import law kicks in on Jan 1, all producers of food shipped to China need to register with customs authority
+ China to extend preferential tax policies for foreigners until end 2023
+ China unveiled new plan for smart manufacturing; to digitise operations of 70% domestic manufacturers by 2025
+ China’s ‘artificial sun’ set new world record by running for 1056 seconds at high plasma temperature
- China to cut new energy vehicle subsidies by 30% in 2022
- Evergrande dialled back plans to repay investors in wealth management products
+ Evergrande NEV group started first mass production: sources
+ Evergrande said construction resumes at 91.7% of projects
+ Chinese property firms can lower debt through M&A: PBOC
+ PBOC urges financial institutions to fund property sector asset buyouts
- China 1/3 of rated developers would face cash crunch in scenario where sales fall by 30%: Fitch
+ China to extend some favourable income tax policies to ease burden from middle- and low-income groups
+ China pledges to slash carbon emission by 5% by 2025
+China Mainland, HK bourses to add ETFs to stock connect scheme
+ PBOC allocates >¥85bn (US$13.43bn) to support carbon reduction
+ China approved plans to build 4 mega clusters of data centres to support data needs of Beijing and major costal centres
+ China’s 2021 box office hits US$7.4bn, highest in the world
+ China moves to bar celebrity livestreamers from pitching financial products
+ China’s high-speed rail network hits new milestone as it reached the length of equator of around 40,000 km
- China Mobile loses court appeal, subsidiary CMLink business to cease operations in Canada next week
+ Didi posts net loss of US$4.8bn in Q3 amid tougher regulatory actions
+ Tencent has taken small stake in UK digital bank Monzo just weeks after it fetched a valuation of US$4.5bn
- Huawei expects 2021 revenues to decrease nearly 30%
+ SenseTime shares jump 23% on delayed HK IPO debut
- Cathay Pacific Airways to make significant schedule changes as quarantine hardens
+ CK Asset acquired total 720,000 own shares further
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+ Nikkei up 4.9% in 2021 for highest year-end finish since 1989
+ Japan’s factory output jumped at fastest pace on record in Nov as car production returns
+ Japan govt maps out steps enabling SME firms to pass costs to bigger firms
+ Japan’s experts to work on Covid jab with lifelong protection
- Russia’s GDP will slow down to 2.5% and will not reach official forecast; low base effect can no longer support growth: TASS
+ Mexico to launch digital currency by 2024
- Mexico plans to end oil exports in 2023 to reach self-sufficiency
+ RCEP to take effect on fist day of 2022, extend Asia-Pacific industrial chains in closer bond, cover about 30% world GDP
+ Global equity funds drew massive inflows for 2nd week in 7 days to Dec 29 as Omicron fear ease: Lipper
+ Ocean cargo rates may drop as much as 40%, but could be still higher than pre-pandemic level
- Oil post their biggest annual gains in 12 years
+ Central banks around the world accelerate shift from dollar to gold, bringing total to 31-year high in 2021
๐ช๐บ ๐ฉ๐ช ๐ฌ๐ง ๐ซ๐ท ๐ธ๐ช ๐น๐ท ๐ช๐น
+ EU drafts plan to label some natural gas and nuclear energy projects as green investments
- ECB inflation forecasts will be below 2% in 2023 and 2034
+ ECB crucial to phase out negative interest rates and unconventional monetary policy in 2022: Holzmann
+ Euro zone business expanded by 2.9% in Nov vs 2.5% in Oct, well below 7% recorded a year earlier
- EU exports of sparkling wine to rest of the world fell for the first time in decade as champagne loses its fizz
+ Germany shuts 3 of its last 6 nuclear plants as it turns its focus to renewables
- Lufthansa plans to cut 33,000 flights from its winter schedule due to low demand
+ UK’s economy on track to outpace all G7 countries in 2022 for 2nd year in a row
- London Interbank Offered Rate (Libor) will no longer be used for new derivatives and loans
- UK’s daily Covid-19 cases at 189,213, new all-time high
+ HSBS gets approval to buy out China life insurance JV, the 3rd foreign firm to take full control
- France sees records 232,200 Covid cases on New Year’s Eve
+ IKEA raising prices by average 9% as supply chain woes persist
- Turkey’s lira logged its worst year since Erdogan came to power nearly 2 decades ago
- Israel became the first country to give 4th Covid vaccine shots, to ppl with weakened immunity
+ Ethiopian Airlines plans to resume flying Boeing 737 MAX planes 3 years after deadly crash
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- Australia started 2022 with record number of new Covid-19 cases at 33,161
+ Asia Pacific remittances up 6.7% in 2021, 5.9% in 2022: ADP
+ India-China trade volume hit record high of US$100bn by Nov, amid repeated domestic boycotts of Made-in-China
+ India’s likely to maintain real GDP growth of 9% in FY 2022 and FY2023: ICRA
+ India banks must bolster capital and augment credit flow when policy support is phased out: Reserve Bank of India
+ India to become 3rd largest economy in 2031: CEBR
- India’s antitrust body orders probe into Apple over alleged abuse of app market
+ South Korea’s exports expanded at their fastest pace in 11 years in 2021
- Samsung, Micron warn Xi’An lockdown could disrupt memory chip manufacturing
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- SEA economies inflation expected to hit it highest level in 10 years in 2022
+ SEA recorded robust IPO activities in 2021 with total funds up by 39%, total IPO market cap grew by 24%
+ Indonesia tax revenue exceeds target for first time in 12 years
- Indonesia bans coal exports on domestic supply worries
+ Indonesia building medical tourism hospital in Bali, run in partnership with US-based Mayo Clinic
+ Indonesia to allow Boeing’s 737 MAX to fly again after 2018 crash
+ Indonesia 87% of business owners expect revenue to increase in next 12 mths, tops survey on business optimism: IBR
+ Thailand Nov factory output rises 4.84% YoY
+ Thailand set export growth target at only 3-4% 2022
- Vietnam’s govt reported GDP grew 2.58% in 2021, beating a 30-year low set last year
+ Philippines sets target of 50% of digital payments in retail until 2023
+ Philippine Air exits bankruptcy with options to tap financing
- Malaysia to spend US$355m for flood relief, Johor became the latest state hit by floods
- Malaysian Meteorological Dept warns of continuous rain for east coast, Klang Valley, 5 other states
+ Sg GDP to grew 3%-5% in 2022, budget to cover GST hike: PM Lee
+ SG-China inked 14 pacts to step up cooperation, including and ETF product link
+ Sg can move closer back to treating Covid-19 like tuberculosis or influenza: Dr Tambyah
+ Sg Finance Minister to deliver Singapore budget in Parliament on Feb 18
- Sg GDP growth to moderate in Q4 on Omicron woes: Reuters poll
+ Sg to require vaccinations for all foreigners working in city
+ Sg welcomed 41,140 visitors in Nov, nearly double the 23,980 the mth before: STB
+ Sg hotel sector recorded highest occupancy rates and revenue per available rm since pandemic hit
- Sg electricity tariff for households to raise by 5.6% in Q1
Contribution by Derek@valueinvestments chat group. Thank you.
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