Wolf Money(world market review 3-9 Jan 2022) Anniversary post

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Wee Beng Chong Singapore 1938

Conflict circa 1978

Gift of the Artist 

Collection of National Gallery Singapore


Market Summary 03-09 Jan 2022

🇺🇸 🇺🇸 🇺🇸 🇺🇸 🇺🇸 

+ US added 199,000 nonfarm jobs in Dec, jobless rate dropped to 3.9%, however job growth misses’ expectations

+ US private sector job growth surges in Dec, added 807,000 jobs to their payroll: ADP

- US trade deficit jumped 19.4% to US$80.2bn in Nov on record high goods imports 

+ US factory orders increase 1.6% in Nov, orders increased 12.9% YoY 

- US inflation rate is probably going to spike again: Eco Week 

- S&P 500 posts worst start to a year since 2016: Markets Wrap

- US record 4.5m ppl quit their jobs in Nov 21

- US set new global daily record of over 1 million Covid infections 

+ US to offer US$1bn to aiding independent meat and poultry producers, to combat food prices hikes 

- Fauci warns of danger of hospitalisation surge in US due to large number of Covi-19 cases 

+ Wall Street banks set to report record profits for 2021, boosted by higher investment fee and lower loan losses: FT 

+ US low-cost carrier Allegiant Air said will buy 50 new Boeing 737 MAX jets 

- Citigroup to fire unvaccinated staff in US this mth 

- AT&T and Verizon agreed to hold off their 5G rollout amid concerns of problems for aircraft 

+ Apple become 1st company to reach US$3 trillion market cap 

+ Tesla said delivered 936,000 cars globally in 2021, almost double YoY

+ PayPal explores launch of own stablecoin as part of cryptocurrency push 

🇨🇳 🇨🇳 🇨🇳 🇨🇳 🇨🇳 

- China’s central bank injected ¥10bn worth of 7-day reverse reops, vs ¥110bn of such loans expiring same day 

+ China’s foreign exchange reserves reached US$3.25 trillion end Dec 21, hitting 6-year high 

+ China’s official economic growth target expected to set above 5% in 2022

+ China’s Caixin Services PMI rebounded in Dec stands at 53.1, maintaining expansion 

- China tighter rules on offshore listing, requiring companies with data >1m users to undergo security review 

- Tianjing began testing its population of 14m after at lease 2 local Omicron cases detected 

+ Heilongjiang Province to ramp up planting area of soybeans to 666,667 hectares in 2022

+ China’s property sector could see partial rebound in H2: Global Times 

- Evergrande founder reportedly seeking to offload luxury properties in Guangzhou 

- Evergrande ordered to remove its mega resort project in Hainan, citing unlawful means of obtaining project certificate 

+ China’s Bohai Sea oil field reached >30m tons in 2021, largest in the nation 

+ China has sufficient reserve of essential goods ahead of spring festival: officials 

+ China pilot reform set to boost innovation and expand use of digital yuan in more scenarios 

+ Chinese lab announced major achievement related to 6G with transmission rate 10-20 times higher than 5G networks 

+ China surpassed South Korea to become world’s No. 1 shipbuilder in 2021 

+ China-Europe freight train trips made hit record 15,000 in 2021, up 22% from previous year 

+ China’s first privately-owned 266km Hangtai high-speed railway links Hangzhou and Taizhou starts operations 

+ China to build 3300-km long new rail tracks in 2022

+ China-Laos railway has transported 670,000 passengers and 170,000 tons of good in the first mth 

+ Chinese firms showcase autonomous driving technology at Consumer Electronics Show (CES) in Las Vegas 

- Tencent’s US$3bn stake sales in Singapore Sea Ltd had nothing to do with regulatory risk: sources 

- Kuaishou starts off mass layoffs as losses double

- HK tightens restrictions on travel and social activity in response to Omicron outbreak 

🇯🇵 🌍 🇰🇿 

+ Kishida called for aggressive wage hikes in push for wealth redistribution 

- Japan’s household spending posted annual drop for 4th straight mth in Nov 

- Japan’s Nov real wages fall for 3rd mth as inflation outstripped stagnant normal wages

+ Toyota overtakes GM to lead US auto sales for 2021, first time since 1931

+ Japan motorcycle sales appear to have hit 23-year high in 2021 

- Crude oil rally continues amid Kazakhstan turmoil  

- Uranium prices surge on Kazakhstan unrest as the country produces >40% of world’s metal  

- Global Covid-19 cases surpass 300m: John Hopkins University

- Bitcoin dives after world’s 2nd largest mining hub Kazakhstan shut down internet as anti-govt protests continues 

🇪🇺 🇩🇪 🇬🇧 🇫🇷 🇨🇾 🇮🇱 

- Eurozone inflation marking another record high hitting 5%

+ Eurozone Nov retail sales growth surges past expectations 

- ECB warns green energy push will drive inflation higher 

- European air carrier makes thousands of ‘ghost’ flights this winter to avoid losing take-off and landing rights 

+ Airbus exceeds target of 600 jet deliveries in 2021: sources 

- Germany annual inflation hit highest rate since 1993 at 3.1% in 2021 

- German antitrust regulator say ready to tackle Google 

+ Chrysler plans go all electricity by 2028 

- UK consumer spending falls sharply in Christmas week 

- France trade deficit hits record high in Nov as energy prices drove value of imports higher 

- France my see 40% electricity price surge by Feb 

- Cyprus reportedly discovered a Covid variant combines Omicron and Delta 

+ Israel to start reopening to foreigners, reviews quarantines, tests as Omicron surges 

🇦🇺 🇮🇳 🇰🇷 🇶🇦 

+ Australia to push ahead with reopening amid record Covid-19 cases 

- India’s high import tariffs negating PLI, impacting competition: ICEA

- India ordered Xiaomi to pay US$87.8m of import taxes

+ Samsung Electronic forecasts 52.5% jump in Q4 profits on record sales  

- Qatar Airways seeks >US$600m in Airbus A350 dispute 

🇮🇩 🇹🇭 🇻🇳 🇲🇲 🇲🇾 🇸🇬 

+ Indonesia Exchange had 53 IPOs raising total US$4.3bn in 2021, its best-ever showing 

- Indonesia revoked thousands of mining, coal and forestry permits as govt battles to rein in vast resources sectors 

+ Indonesia approved merger local telecom units of Qatar’s Ooredoo and HK CK Hutchison Indosat valued at US$6bn 

- Thailand suspends quarantine waiver scheme indefinitely, expands Sandbox programme 

+ Vietnam could be region’s brightest star in 2022; growth likely led by banks, retail, energy: Maybank 

+ Vietnam seeking 347 trillion dong in stimulus for Covid-battered economy 

- Vietnam’s inflation likely accelerate by 1.4% pts to 3.45% in 2022

+ VinFast delivers first EV (SUV) to customers in Vietnam

- Myanmar’s economy at risk from a likely prolonged civil conflict: Fitch 

+ Malaysia’s investment approvals projected RM200bn in 2022: UOB 

- Maybank group CEO to step down, leadership search under way   

+ Malaysia new domestic airline SKS Airways has been awarded a full Air Service License 

+ Sg economy grew 7.2% in 2021 on stronger than expected note

+ Sg unemployment rates continued to decline in Nov

+ Sg retail sales up 1.9% in Nov, lower than previous mth’s 7.5% 

+ Sg private home prices jumped 10.6% in 2021: URA 

+ HDB resale prices rose 12.5% in 2021, highest annual growth since 2010

+ Vertex, Tikehau blank-cheque vehicles lodge preliminary prospectus for S$200m SPAC to list on SGX 

+ NTUC Income co-op to become corporate entity amid intensifying headwinds in insurance sector 

+ Carousell said in US$1.5bn SPAC deal talks with L Catterton 


Contribution by Derek@valueinvestments chat group. Thank you.

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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.


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