Wolf Money(world market review 10-16 Jul 2022)
Contemplation & Desire circa 1965
Collection of National Gallery Singapore
Market Summary 10 - 16 Jul 2022
🇺🇸 🇺🇸 🇺🇸 🇺🇸 🇺🇸
- US inflation hits new 4-decade high of 9.1% in June
- Fed senior governor Waller open to 1% rate rise if incoming data warrants move
- Fed 2 most hawkish policymakers said favoured another 75-basis-pt interest rate increase in July
- US manufacturing output fell 0.5% in June, down for 2nd straight mth
+ US retail sales shot up 1% in June amid ongoing surge in prices, poses challenge for US central bank
- US recession risk up in next 2 years but returns set to improve: Vanguard
- US weekly jobless claims hit 8-mth high, labour market still tight
- US factory output declined 0.5% in June for 2nd mth on consumer goods
+ US business inventories increased strongly in May, rose 1.4% after up 1.3% in April
+ US import prices increased less than expected in June likely due to strong dollar
- US oil and gas dealmaking fell to US$12bn in Q2, nearly 1/3 of US$34.8bn same period a year ago
+ Boeing delivered 51 passenger and cargo planes in June, best mth for deliveries >3 years
+ US to resume int’l space station flights with Russia
+ Biden started his 4-day visit to the Middle East
- Blackrock reported bigger fall in quarterly profit than expected to adjusted profit of US$1.12bn
- Morgan Stanley Q2 profit slumped 30% as deal stall
- JPMorgan reported worse-than-expected 28% fall in quarterly profit, suspended share buybacks, warns on global economy
- US Department of Justice expected to file antitrust lawsuit against Google in weeks
- US securities regulator steps up scrutiny over Musk comments on US$44bn Twitter deal
- Twitter officially sues Elon Musk after he abandoned the US$44bn deal
+ Amazon’s Prime Day shopping event jumped 8.5% YoY to nearly US$12bn
+ Netflix partners with Microsoft to offer cheaper plan with ads
- Starbucks closing 16 US stores for safety issues
🇨🇳 🇨🇳 🇨🇳 🇨🇳 🇨🇳
+ China’s monetary policy has ample and sufficient tools, including further cutting banks’ reserve requirements: state media
- China’s GDP grew by mere 0.4% Q2 YoY, weakest performance since Covid-19 outbreak, shrank 2.6% on quarterly basis
+ China’s CPI grows 2.5% in June, rose by its fastest annual pace in a year
+ China’s potential economic growth rate estimated to stand between 5% and 6%, within global medium-to-high range: official
- China’s regulators vowed to help local govts to deliver property projects on time after homebuyers threatened to stop mortgage payments on unfinished apartments
+ China’s new yuan loans came in at 2.81 trillion yuan (US$418.89bn) in June
+ China total imports and exports expanded 9.4% in H1, above expectation
+ China’s retail sales continue to see upward trend after gaining 3.1% in June
- China’s output in real estate industry contracted 7% in Q2 YoY
+ China-US trade expanded 11.7% in H1 to US$367bn
+ China’s agricultural exports up 21.7% in H1 to US$45.06bn
- China 15 banks disclose exposure to mortgage defaults, cites risks ‘controllable’
+ China to further communicate with more countries to increase int’l flights in H2
+ China’s auto production and sales both surged >20% in June YoY, led by 130% growth in sales of NEV
+ Global investors will increase their holdings of Chinese assets in H2: Standard Chartered
+ China to build 461,000km of highways by 2035, to become world-class highway network by 2050
+ China granted 393,000 invention patents in H1
+ Shanghai’s first nucleic acid industrial park will start construction to boost biomedicine industry
+ China aviation market on strong recovery with daily flights hitting 12,000, recovering to 65.4% of pre-covid levels
+ China’s shipbuilding industry retains global lead in H1 with 45.2% share of global market
- China to ban construction of skyscrapers >500m high, and strictly limit construction of building >250m high
+ China Ganfeng Lithium to buy 2 Argentinian mines, plans to spend up to US$962m on assets
- China 247 steelmakers’ surveyed producers reported Q2 margins of 15.2% on average, down from 83.6% QoQ
- Beijing-Shanghai high-speed railway to post first quarterly loss since IPO
- China’s anti-monopoly watchdog fines Alibaba, Tencnet for failing to report transactions
- Oppo being accused by India of evading US$551m of taxes
- Hang Seng Composite Index dumps 6 Chinese property firms
🇯🇵 🇷🇺 🌍
- Yen fell to fresh 24-year low in the 139 level against USD
+ Japan’s core consumer inflation seen above BOJ’s target for 3rd mth
+ Japan PM called for up to 9 nuclear reactors to be brought online this winter to help avert power crunch
+ Japanese govt called on Mitsubishi and Mitsui to keep shares in Sakhalin-2 Liquefied Natural Gas project in Russia
+ Japan’s ruling coalition wins big after Abe’s assassination
- Japan wholesale prices jump 9.2% in June YoY after import prices surged at fastest pace on record due to lower yen
+ Russian eyes final document soon on Ukraine grain exports
+ Russian to have largest drone fleet by end 2022: report
+ WTO, IMF, World Bank called for trade restrictions to be lifted
+ RCEP expected to boost global trade by nearly 3%, with 1.5% global growth effect in 5 years: Chinese FM
- OPEC’s first 2023 outlook shows no relief for oil market squeeze
- Copper tumbled to lowest level in 20 mths
🇪🇺 🇩🇪 🇬🇧 🇫🇷 🇮🇹 🇳🇱 🇹🇷
- Euro fallen below dollar for the first time in 20 years
- EU cuts its forecasts for economic growth in eurozone for this year and next, revised up inflation outlook
- EU forced to tap gas reserves, Nord Stream 1 pipeline has stopped pumping gas due to service maintenance
- EU auto sales slumped by 14% in H1 due to supply shortages
+ EU and China to hold high-level trade talks
- EU to target Russian gold in next sanctions package
+ EU approved €5.4bn hydrogen tech project
- Germany inflation will force govt to spend additional €14bn to service govt loans in 2023, public debt spending set to double
+ Germany’s Lufthansa returned to profitability in Q2, revenue >doubled vs previous year to €8.5bn
- Germany earmarks additional US$3.4bn for Ukraine refugee relief this year
- Germany won’t survive winter without Russian gas: official
- Germany will required to wear face mask indoors again as part of new measures
- UK approved windfall tax on oil and gas industry
- France inflation in June hit record high of 6.5%; preliminary figures
- France called on the nation to brace for Russia gas cut off by saving energy
- Italy’s President rejected PM Darghi’s resignation
- Netherlands and US are holding discussions on blocking ASML from selling to China technology used in making large chips
+ Turkey discovered 694m mt of rate earth element reserves, with infrastructure construction starting this year
🇦🇺 🇮🇳 🇰🇷
+ Australia’s total lithium concentrate exports jump 15% in first 5 mths, China accounting for 96% of the total
+ India to allow trade settlements between and other countries in rupees
- India further tightened rules for telecom licenses, mandating operators only purchase devices from “trusted sources”
- India projected to surpass China as world’s most populous country next year: PTI
+ South Korea, US to further cooperation on chips
+ Saudi Arabia to open airspace to all airlines, including from Israel
+ Saudi crown prince said more investment needed in fossil fuel and clean energy tech to meet global demand
+ Kazakhstan offered firms leaving Russia the chance to relocate to the country
- Sri Lankan declared state of emergency, President has fled the country
🇮🇩 🇹🇭 🇻🇳 🇲🇲 🇲🇾 🇸🇬
+ Indonesia waived palm oil export levy to cut bloated stockpiles
+ Indonesia to begin exporting chicken products to Singapore
+ Thailand will allow foreigners to fully own land for residential use, to own up to 0.16 hectares, to nvest 40m baht
+ Thailand planning to build US$37bn smart city in industrial hub in Eastern Economic Corridor
+ Vietnam VinFast signed agreements with banks to raise at least US$4bn globally to fund its US plant
- Myanmar Central Bank bans businesses, residents from repaying foreign loans
- Malaysia raises interest rate to 2.25% amid ‘positive growth prospects’ for economy
- Malaysia rejected fugitive Jho Low’s attempt with RM1.5bn settlement to settle charges against him
+ Malaysia govt plans to recoup 5% from prudent spending
+ Sg GDP grew 4.8% YoY in Q2, picking up form 4% in previous qtr, slower than expected
+ MAS tightens monetary policy in off-cycle move to slow inflation
+ MAS renewed bilateral currency swap arrangement with China for 5 more years
+ Sg Condo and HDB rental prices continued upward path in June, up by 2.1% and 2.3% from previous mth
- Sg core inflation forecast at 3-4%
+ SGD bond issues back regional trend in H1 to hit S$11.6bn
+ Sg grade A core CBD rents mark fastest pace of increase since 2021 to 3.2% QoQ in Q2
+ Sg int’l visitor arrivals see 12-flod boost in H1 with 1.5m visitors
+ Temasek Holdings reports record net portfolio value crossed S$400bn in last financial year
+ Sg plans to launch flying taxi by 2024, Seletar Airport planning to become regional hub for flying taxi
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 education only. Buyer beware,do you own due diligence.
Comments
Post a Comment