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US & IMF See Rosier Days Ahead; Not So For STI?
Forward, Tradeable | 23 December 2013
By: Simeon Ang
Articles (125) Profile
By: Justin Harper
Articles (23) Profile

Santa is not coming to town if you are a trader in Singapore. Coupled with a fairly quiet week due to the holidays, we can expect the Straits Times Index to languish below where it started at the beginning of December.

Elsewhere, the benchmark S&P500 has powered ahead in the U.S and could finish almost 30 percent up for 2013. Staying in the US, economic growth climbed at a faster pace than expected. US GDP rose 4.1 percent on a year-on-year basis, the strongest since 4Q11.

Early morning trade pushed the Straits Times Index northward after last week’s gains. Doing particularly well were stocks in the FTSE ST Basic Materials Index and FTSE ST Technology Index.

Read on to find out what’s in store for the trading week ahead!

In Singapore…

  • November consumer price index (CPI)
  • November manufacturing production

Inflation figures for the city state are due out on Monday. October’s figure saw a slight rise compared to the previous month, coming in at 2 percent. The over-riding factor as of late has been higher transport costs due to rising COE prices.

Singapore also has manufacturing production figures to be released on Thursday which may be treated with caution. Last week, traders saw exports figures fall sharply as the health of the economy was unusually called into question.

Manufacturing has held up well this year, with October’s print coming in at 8 percent. However, this was a fall from September’s 9.2 percent reading.

Around the World…
In the US, look out for,

  • November new home sales
  • Jobless claims

The US housing market has been pretty resilient, holding up well this year. Recently it has been showing strong growth signs off the back of employment gains in the U.S and a rising stock market, both of which have boosted consumer confidence.

New home sales shot up 25.4 percent in October, compared to September. September’s print was the lowest in one year, with U.S traders hoping things have bottomed out.

Asia will have China relatively quiet…

  • Japan retail sales, industrial production, unemployment and CPI
  • China leading indicators

The busiest economy this week will be Japan which is due for a major data dump. Traders are expecting retail sales, industrial production, unemployment, CPI, trade balance and PMI readings.

It’s still early days for Abenomics and these figures may have little bearing on the overall course of the Japanese economy. Industrial production figures are likely to be the most watched.

Factory output rose 0.5 percent in October, signalling a second month of expansion. Analysts expect a 0.9 percent rise for November, followed by a 2.1 percent increase for December. These are quite optimistic figures for an economy that has been showing sluggish recovery at best.

Scroll down to our Calendar below to find out more about the exact dates of these figures release as well as other important economic data.

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This is a co-written article of Shares Investment, which lays out the analytical ideas and thoughts of the authors, who are well versed in investments and market concepts.

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