Wolf Money(world market review 21-26 Aug 2023)
Market Summary 21-26 Aug 2023
🇺🇸 🇺🇸 🇺🇸 🇺🇸 🇺🇸
- Powell: higher rates may be needed to cool still-too-high inflation, will move with care at upcoming meetings
- US consumer sentiment fell modestly in Aug at 69.5 vs 71.6 in Jul, inflation expectations worsened slightly
+ US economic activity picked up pace in Jul as gauges of production and personal consumption improved: Chicago Fed
- US 30-year fixed mortgage rate hit 7.49% at 23-year high, home-purchase applications fell for 6 weeks to lowest since 1995
+ US lawmakers working to reach agreement on fiscal year 2024 budget by Sept 30 to prevent federal govt shutdown
+ US seeks to extend science and technology agreement signed with China decades ago ahead of Raimondo’s visit
+ US Commerce Dept lifts 27 Chinese entities from unverified list
+ Boeing preparing to restart deliveries of 737 MAX jets to China after 4-year halt
+ US approved 6 more flights by Chinese airlines, 2nd expansion since May
+ US doubles uranium imports from Russia
+ US workers are demanding almost US$80,000 a year to take a new job
- Hawaii wildfire could cause up to US$6bn in losses: Moody’s RMS
🇨🇳 🇨🇳 🇨🇳 🇨🇳 🇨🇳
- China’s industrial profits fell 6.7% YoY in Jul vs a drop of 8.3% in Jun, profits declined 15.5% first 7 mths
+ Yuan retained its 5th most used currency for global payments in Jul with share of 3.06%, 2nd time exceeded 3% benchmark
+ China proposed further easing of mortgage policies to support real estate market, insiders predict an “immediate effect”
+ China cuts 1-yrst loan prime rate by 10 bps to 3.45%, leaving 5-year LPR at 4.2%
+ China plans to cut stamp duty on stocks by up to 50% to revive confidence
+ China CSRC seeks to guide more long-term capital into stock market
+ China expanding pilot planting of genetically modified corn and soybeans to more regions
- China imposed ban on all imports of Japanese aquatic products; food, cosmetic, tourism worth US$20bn after nuclear-contaminated wastewater was dumped into ocean
+ China announced tax incentives for investors in tech firms Chinses depositary receipts (CDRs)
+ China to step up support for Africa’s industrialisation, with focus on industrial parks, trade with Africa up 7.4% in first 7 mths
+ China to have >40 countries participating in 20th China-ASEAN Expo in Sept
+ Evergrande says resumption guidance fulfilled, shares set to trade next week
- Country Garden delayed bond repayment vote
- China fined US research firm Mintz Gp US$1.5m for doing unapproved statistical work
🇯🇵 🇷🇺 🌍
- Japan began discharging treated radioactive wastewater from Fukushima nuclear power plant into the ocean
- Japan >700 exporters hit by China’s seafood ban
+ BOJ will keep current policy until at least Jul 2024: Reuters poll
- Russia demands bigger discounts on price tags of assets westerners want to sell
+ Russia seeks to increase marine exports to China after Japan ban
+ BRICS invited 6 new members to join from Jan 2024; Saudi Arabia, Iran, UAE, Argentina, Ethiopia and Egypt
+ G20 agreed to work on reforms on WTO ahead of key meeting early next year
+ RCEP 2nd ministerial meeting reached multiple agreements on further accelerating implementation of rules under RCEP
🇪🇺 🇩🇪 🇬🇧 🇳🇱 🇹🇷
- Eurozone economy contracting at fastest rate in 3 years, Eurozone PMI survey by S&P Global fell to 47 in Aug from 48.6 in Jul
-ECB must gauge digital euro impact on banks before launch: Spanish official
- Germany’s economy stagnated in Q2 from previous qtr, adjusted GDP contracted by 0.2% in Q2
- UK interest rates might have to stay high for some time yet: BOE
+ BP urged world must invest in production of oil and gas to avoid sharp price spikes while speeding energy transition
- Heineken exited Russia with €1 sale of operations
- Turkish central bank raised benchmark interest rate by 7.5% to 25% to curb inflation
🇮🇳 🇸🇦
- India’s annual retail inflation at 15-mth high of 7.44% in Jul, food price inflation rose to 11.5%
+ India hopes to conclude free trade deal with UK this year: Minister
+ India Chandrayaan-3 became first spacecraft to land in lunar south pole region, the 4th nation to land spacecraft on moon
+ India is free to join RCEP trade bloc: Chinese minister
- India imposed 20% export duty on parboiled rice
+ Saudi Arabia considering Chinese bid for nuclear plant
🇮🇩 🇹🇭 🇻🇳 🇲🇾 🇸🇬
+ Indonesia aims to conclude FTA with Eurasian Economic Union by next year
- Thai exports shrank for 10th consecutive mth in Jul, down 6.2% YoY, slumped 10.8% from Jun
+ Vietnam signed agreement to be part of initiative by 5 other SEA countries to establish cross-border payments mechanisms
+ Malaysia’s inflation eased to 2% in Jul, lowest rate of increase in 11 mths
+ Malaysia looking to export green electricity to new Indonesia capital Nusantara
+ Anwar: special financial zone to be created in the Forest City property development area in Iskandar Puteri
- Sg factory output fell 0.9% YoY in Jul, marked 10 consecutive mths of contractions, key electronic segment returned to growth
+ Sg headline inflation eased to 4.1% YoY in Jul from 4.5% in Jun, core inflation at 3.8% vs 4.2% in Jun: MAS
- Sg services receipts growth slows for 4th straight qtr to 3.9% in Q2, easing from revised 7.7% growth previous qtr
+ Sg based new commodity exchange Abaxx Commodities Exchange aims to launch world’s first futures contract for EV nickel
Contribution by Derek@valueinvestments chat group. Thank you
Please consider following us on telegram for the latest update on Lone Wolf investor by clicking on the link below. No form filling, no payment required, no collection of data, no data mining, no hard selling, no obligation.
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