Wolf Money(world market review 17-24 July 2022)
Market Summary 17-24 July 2022
๐บ๐ธ ๐บ๐ธ ๐บ๐ธ ๐บ๐ธ ๐บ๐ธ
- US business activity contracts in July for first time in 2 years: survey
- Yellen called on US allies to strengthen trade relationships to shore up global supply chains
- Yellen said had productive meetings proposed price cap on Russian oil with host of countries on the sidelines of G 20
- US blockade of major California seaport stretches into day three
- US weekly jobless claims hit fresh 8-mth high, rose 7000 to seasonally adjusted 251,000
+ US gas inventories up by 32 bn cubic feet compared to previous week to reach 2401 bn cubic feet: EIA
- US crude oil inventories declined by 0.4m to 426.6m barrels
- US existing home sales down 5.4% in June compared to previous mth and 14.2% annually
- Goldman warned may slow hiring, cut expenses as deals slump, reporting 4.8% down in quarterly profit
+ Boeing plans to boost 787 productions after regulatory bodies give green light to resume
- US probes into Huawei “over potential capture of American military information”
+ Amazon makes deeper health push with US$3.49bn One Medical deal
- Tesla sold a significant chunk of its stake in Bitcoin after turbulent crypto foray
+ Tesla’s Shanghai Gigafactory estimated to produce 750,000 vehicles annually, firms’ revenue up 42% YoY in Q2, called for more investment in globale lithium
+ Ford Motor intends to reach its targeted annual run rate of 600,000 EVs by late 2023 , >2m by end 2026
+ United Airlines Q2 revenue at US$12.1bn, highest in history, American Airlines’ Q2 revenue at US$13.24bn in Q2, up by 79.45%
๐จ๐ณ ๐จ๐ณ ๐จ๐ณ ๐จ๐ณ ๐จ๐ณ
- China’s US treasury holdings dip below US$1 trillion for the first time hitting 12-year low
+ China's major reason for change in foreign reserves due to the dollar index has risen significantly, leading to decrease in amount after conversion into dollars: SAFE
+ China keeps landing benchmark loan prime rate (LDR) unchanged in July as money rates stay low
+ China debuts US$3bn state-owned iron ore giant to have bigger say in pricing, consolidate massive mining investments
+ China’s value-added industrial output rose 3.4% in H1, added value of manufacturing sector ticked up 2.8%
+ China central bank propels yuan settlements in cross-border e-commerce and other new trading scenarios
+ China central bank keeps medium-term policy rate unchanged for 6 straight mths
+ China’s retail sales continued to see upward trend after gaining 3.1% in June
- China’s biggest chip investment fund under investigation for suspected server violations of discipline and law
+ China Banking n Insurance Regulatory Commission urging healthy financial institutions to merge with small n medium banks
+ China’s home-grown C919 jet nears certification as test planes complete tasks
+ China swindled depositors in Henan, Anhui rural banks scandal started receiving compensation from financial regulator
+ China multiple real estate projects resumed construction after homebuyers halting mortgage repayments
- China faces shortfall of US$6.5 bn in green financing over next 4 decades to reach emissions goal
+ China 1st hydropower plant generating capacity of 1m kWh in Xizang Autonomous Region entered operations
+ China railway linking Dali-Bashan started operation, breakthrough in construction of China-Myanmar Int’l railway corridor
- Didi fined US$1.2bn for 16 legal breaches; national security and data violations, signalled an end to year-long probe
+ China to allow homeowners temporarily halt mortgage and urging banks to increase lending to developers
- China several cities in Henan Province plans to set up working groups to address unfinished or stalled housing projects
- China some suppliers to Chinese real estate developers are refusing to repay bank loans because of unpaid bills owed to them
- Hainan Airlines’ operator seeks US$3bn emergency loan: sources
+ Huawei to launch an updated version of self-developed OS HarmonyOS 3.0, to shake off US export ban
+ Tencent speeding up efforts to turn WeChat channels into earnings driver
+ Hong Kong Monetary Authority makes 2nd intervention in 24 hrs to defend local currency peg, total 16 times this year
- Macau Sands China widened it loss by 1.5 times in H2 YoY todf US$422m
๐ฏ๐ต ๐ท๐บ ๐จ๐ฆ ๐
- Japan regulators approved release of Fukushima water into sea which still contain traces of tritium after treatment
- Japan’s trade deficit at ¥1,38 trillion in June
+ Japan’s inflation stays above central bank target for 3rd mth
- BOJ reaffirmed intention to ease its monetary policy further if needed
- Japan to cut this fiscal year’s economic growth forecast: Nikkei
+ Russia’s central bank will allow banks from “unfriendly countries” to trade between foreign currencies on its forex markets
+ Russia central bank lower interest to 8%
+ Russia-Ukraine singed Black Sea initiative on grain transportation
+ Russia exports of oil to China soared by 60% in H1
- Russian does not plan to sell its oil to the global markets should the price cap be introduced: Deputy PM
+ Russian started sending gas through Nord Stream to Europe after a 10-day maintenance period
+ Russian titanium producer dropped from sanctions list by EU: report
- Russia’s daily natural gas exports to Europe of 400-500m cubic meters at lowest in last 4 years
- Canada inflation rose 8.1% in June, highest in decades
- IMF will cut global economic growth outlook “substantially” in its next update
- Gold drops to 15-mth low after ECB raised rates more than expected
- Cryptocurrency exchange Zipmex that operates in Singapore and Thailand halted withdrawals
๐ช๐บ ๐ฉ๐ช ๐ฌ๐ง ๐ซ๐ท ๐ช๐ธ ๐บ๐ฆ
- ECB raised key interest rate by 50 basis points to 0%, ending negative rates era, 1st increase in 11 years and biggest since 2000
- Eurozone debt to GDP ratio at 95.6%, highest posted by Greece, Italy, Portugal
- Eurozone consumer confidence fell by 3.2 pts in July from June to lowest level on record
- Euro zone banks to keep tightening access to credit: ECB survey
+ Euro area will not face a recession in 2022 and 2023: Lagarde
- EU set to impose 7th round of sanctions on Russia, including gold embargo, freeze on Sberbank assets
+ EU-China trade exchanges valued at US$1.95bn daily
+ EU planning to amend sanctions on Moscow to facilitate in food and fertilizers: Reuters
- EU says full cut-off of Russian gas supplies to Europe, combined with cold winter could reduce average EU GDP by up to 1.5%
- Germany’s manufacturing activity hit 25-mth low at 49.2 in July: S&P Global
- Germany to bail out energy giant Uniper, to take 30% of stake for US$15bn after Russian gas hit
- UK business activity in July posts weakest rise in 17 mths
- UK consumer prices rose 9.4% in June at 40-year high, inflation set to hit 11% in Oct as food and energy cost rise
- UK bank seeks investors for stalled Chinese-backed London development with initially estimated investment of £1.7bn
- UK to stop importing Russian oil in Dec
+ HSBC to speed up exit from non-core markets and deploy additional capital in Asia, bid to push back against breakup proposal
- France to nationalise country’s biggest power provider EDF amid worsening energy crisis
+ France President set to discuss oil and diesel supplies with UAE
- Spain rejected EU to cut gas use by 15%
- Ukraine devalued its national currency by 25% against USD to improve competitiveness of producers
๐ฆ๐บ ๐ณ๐ฟ ๐ฎ๐ณ ๐ฐ๐ท ๐ธ๐ฆ ๐ฆ๐ช ๐ถ๐ฆ ๐ช๐ฌ
- Australia’s central bank says interest rate still too low after hikes as unemployment dips to lowest in nearly 50 years
- New Zealand inflation hits 32-year high, due to rising fuel, food and housing costs
+ Indian economy expected to expand 7% in fiscal 2022/23, lower than 7.4% previous estimate
+ South Korea said would not take any decision in hurry to join proposed US-led chip alliance
- South Korea prosecutors raided 15 local cryptocurrency exchanges and offices amid Luna probe
+ Samsung SDI to spend US$1.3bn on new battery factory in Malaysia
- Saudi Arabia approaching maximum oil production capacity and could theoretically raise output by 1.5m barrels a day
+ UAE economy set for strongest expansion in 11 years after 8.2% first-quarter growth
+ Qatar Airways finalised deal over purchase of 25 of 737 MAX airplanes
- Qatar telecom firm Ooredoo in talks to sell its Myanmar unit
+ Egypt begins its construction of US$30bn first nuclear power plant to be built by Russia
๐ฎ๐ฉ ๐น๐ญ ๐ต๐ญ ๐ฒ๐พ ๐ธ๐ฌ
+ Indonesia FDI accelerated to new record high in Q2 to Rp163.2 trillion, up by 40% in rupia terms YoY
+ Indonesia growth projection upgraded to 5.2% by ADB
+ Indonesia considering removing domestic sales requirement for palm oil exports
+ Indonesia plans to get 6 million units of electric motorcycles on the road nationwide by 2025
- Indonesia seeks to crack down on unhealthy peer-to-peer lenders
+ Thailand industrial sentiment picked up first time in 3 mths in June
- Thailand tourism revenue this year may total 1.2 trillion baht, below govt’s target of 1.5 trillion
+ Thailand’s cannabis market expected to grow about 15% between 2023 and 2025 with market value forecast 43bn baht
+ Philippines President Marcos Jr wants to renegotiate loan agreement struck by his predecessor with China
- Malaysia inflation rate rises to 3.4% in June, driven by surging food prices, vs 2.8% in May
+ Malaysia’s total trade reached record high of RM270.39bn in June
+ Malaysia to be manufacturing hub for Ericsson’s 5G equipment in APAC
- Malaysia’s air travel industry recovering slower than expected: CIMB
+ Sg non-oil exports rose 9% in June YoY, expanding for 19th straight mth
- MAS recorded net loss of S$7.4bn in FY2021/22, first time in 9 years
- Sg economy expected to experience slower growth, in lower half of 3%-5% forecast range
+ Sg private home prices up 3.5% in Q2 as market rebounds on record launch prices, increase volume
+ Sg luxury condo sales up 46.2% QoQ in Q2, transactions nearly S$900m
- HDB resales prices rise 2.8% in Q2, transactions fall amid rising interest rates
- Sg has lowest hospital population ratio among 33 developed countries, ratio of 1 hospital for >220,000 Singaporeans
+ SGX, NYSE to collaborate on dual listing of companies, include exploration of ETF products
- IMF lower forecast for Singapore economy to 3.7% growth this year
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