Trump may see Vietnam as another trade war target, but Taimur Baig, chief economist at DBS, said it likely won’t keep firms from setting up shop there.
Economy and Trade
Global markets may have heaved a sigh of relief after this weekend’s G-20 meeting in Japan, but the trade-war hostilities likely won’t end anytime soon.
Singapore banks are seeing rising credit demand from trade-related sectors, suggesting Southeast Asia is benefiting from the trade war, Maybank KE said Monday.
“Fighting won’t stop you from eating,” the brokerage said in a note Friday.
Small-to-medium sized enterprises (SMEs) are likely to benefit from Singapore’s move to allow digital banks into the market, DBS said in a note Monday.
The Monetary Authority of Singapore said Friday it would issue up to five new digital bank licences, opening the banking sector to non-bank players.
Investors should be watching the earnings impact of the trade war, Steven Wieting, chief investment strategist at Citi Private Bank, said Tuesday.
Huawei may be under fire from U.S. trade restrictions, but so far, Konesh Kochhal, a director at the company, said the carrier business wasn’t affected.
These are Singapore companies which may be in focus Wednesday, 19 June 2019: BofA-ML fund manager survey, Sembcorp Industries, SGX, CapitaLand and Hyflux.
Global fund managers are at their most pessimistic since the Global Financial Crisis amid trade war concerns, the BofA-ML survey for June found.
U.S.-China trade tensions may be knocking market sentiment, but despite the risks, CapitaLand Retail China Trust has added to its China mall portfolio.
These are Singapore companies which may be in focus on Tuesday, 11 June 2019: CapitaLand, CRCT, SGX, Kingsmen Creatives, Ascendas REIT and Accordia Golf.
The U.S.-China trade war spurred a surge in derivatives trading in May, with total derivatives traded volume jumping 46 percent on-year, SGX said Monday.
Singapore isn’t expecting the trade tensions between the U.S. and China to be resolved anytime soon.
India’s newly re-elected Prime Minister Modi has plans to boost private-sector exports, eschewing the country’s traditional focus on domestic consumption.
These are Singapore companies which may be in focus on Thursday, 23 May 2019: UOL, PSA, Yongnam, Sabana REIT and Stamford Land.
CGS-CIMB downgraded Singapore’s bank sector to Neutral from Overweight, on expectations of “harder days ahead” for UOB, OCBC and DBS.
Singapore’s MTI lowered its economic growth forecast for the city-state to 1.5 percent to 2.5 percent for 2019, from 1.5 percent to 3.5 percent previously.
Singapore’s April NODX dropped 10.1% on-year on a high base a year earlier, with declines in both electronic and non-electronic exports, data showed Friday.
The U.S. trade war with China may have dented a broad swathe of sectors, but it’s given China’s property market a big fillip.