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Investing Thoughts 9 Aug to 15 Aug 2021

Investing Thoughts 9 Aug to 15 Aug 2021

– US consumer sentiment index fell to 70.2 in preliminary August reading, lowest reading since 2011
– US July consumer prices jumped 5.4%, up 0.5% MoM, core inflation rises less than expected
+ Yellen reportedly weighing a trip to China in coming mths
+ Fed is nearing the point of reducing its massive support for the economy, to begin cutting its US$120bn in mthly purchase of Treasuries, mortgage-backed securities
+ US job openings top 10m in June, a new record, 3.9m workers quite their jobs the same mth
+ US jobless claims total 375,000, falling for 3rd straight week, down 12,000
+ US home prices soaring 23% in Q2 YoY amid low number of listings and robust demand
+ US senate narrowly approved US$3.5 trillion budget plan
+ US House Democrats seek at least US$160bn in new EV funding as part of US$3.5 trillion spending measure
+ US import prices rose 0.3% in July after jumping 1.1% in June, at 9 straight monthly gains
+ CDC authorized 3rd dose of Pfizer and Moderna vaccines for ppl who have weak immune systems
+ US workplace regulator issued guidance urging employers to require vaccinated workers to wear masks
+ US drillers added the most oil rigs in a week since April as total rig count more than doubled from record low a year ago
– US wants OPEC to increase crude oil output to reign in petrol prices and curb shortages
+ NASA planning a mission to explore asteroid Psyche 16, located between orbits of Mars and Jupiter
+ Walt Disney rose in now of biggest boosts to both Dow and S&P 500 after its profit topped market expectations
+ AMC Entertainment may start accepting bitcoin as payment for tickets and concession at its US theaters
+ Pfizer, Moderna expected to reap billions of dollars from Covid-19 booster shots
– US lawmakers introduced a bill to curb monopolistic polices of Apple and Google app stores
+ Quaclcomm made US$4.6bn offer to buy auto-technology Veoneer, seeks to expand beyond core mobile-phone chip business
+ Tesla hopes to make the first cars at its Gigafactory near Berlin in Oct
– Tesla shipments of China-made cars to local market fell 69% following negative publicity and recall of vehicles
+ BlockRock slashed 88.3% stake in Alibaba in Q2, cashing out HK$117bn
– Airbnb said its current-qtr bookings could be hit by Delta variant and slowing pace of vaccination in US
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+ China’s PPI grew by 9% YoY in July
+ China’s total imports and exports expanded by 24.5% YoY to 3.29 trillion in first 7-mth
+ China’s FDI inflow up 25.5% YoY to US$103.69bn from Jan to July
– China halts private equity funds from raising money to invest in residential property developments
– China’s tightens scrutiny over IPO price-setting, punishes 19 institutions
– China shuts world’s 3rd busiest port after Covid case, raising fears of further strains on shipping and price increases for goods
+ China more than 770m residents have been fully vaccinated against Covid-19
+ China has provided about 800m doses of Covid-19 vaccine to world
+ Shanghai set to host world’s 2 biggest IPOs this year
+ China’s forex reserves rose to US$3.24 trillion end July, up US$21.9bn from a mth earlier
– China’s oil imports fell by 3% in H1
+ China steel, nation’s largest, would raise domestic prices by 1.2% to reflect higher manufacturing costs and higher demand
+ China’s inland provinces and autonomous regions’ share of foreign trade grows, thanks to China-EU freight train services, air cargo networks, B&R initiative
+ China’s most frost-resistant Fuxing bullet train takes its first test
+ Evergrande share surged after report considering selling property management businesses to consortium lead by Vanke
+ Overseas financial institutions moved to increase shares in Chinese internet giants: Morningstar cn
– China stepped up scrutiny of domestic insurance technology platforms, to curb improper marketing and pricing practices
+ China-EU transported 1352 freights in July, up 8% YoY, making >1000 trains runs in for 15 consecutive single mths
+ China’s new ambassador to US holds first meeting with Deputy Secretary of State
+ China should reduce business drinking and replace it with “correct values”: watchdog
– China’s quarantine hospitals told to clear out other patients within 48 hrs of Covid-9 outbreak
+ China restarts operations at 53 shuttered coal mines to keep up with power demand
+ China’s new energy vehicles sales hit historical high in first 7 mths, tripled from a year ago to near 1.48m units
– CATL, world’s largest EV power cells maker, plans US$9bn share placement to expand lithium-ion battery production
– Nio posted narrower than expected loss and surge in revenue, lost US$0.07 per share in Q2
+ Shanghai Lingang Special Area FTZ aims to become epicenter of NEVs, chips by 2025
+ Honor, smartphone maker split from Huawei, launches first flagship Magic 3 handset series, to rival Apple
+ China introduces measures, from reducing costs to longer maternity holidays to boost birth rate
– China’s plan to expand its anti-sanctions law into HK will become new headache for banks in HK
+ HK raised economic growth forecast to 6.5% as spending recovers
+ HK home prices jumped to record high, residential property values up 8.6% since beginning of the year
+ HKEX saw record interim net profit and revenue, net profit rose to HK$6.61bn YoY
– Cathay Pacific reported US$973m loss in H1, shrank by nearly a quarter, aided by cost-cutting, strong cargo demand
+ Taiwan raises 2021 economic growth forecast to 5.88% from 5.46% predicted in June, fastest pace in a decade
+ Foxconn’s set goal to build EV factories in US and Thailand
+ Galaxy Entertainment returns to profit of HK$947m in H1 vs net loss of HK2.86bn from a year ago
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– Japan health officials deliberately omitted mentions of highly contagious first Lambda variant case of Covid-19 linked to Olympics: report
– Japan’s July wholesale price rose at fastest annual pace in 13 years
+ Japan nearly 30% of large firms plan to boost green investments
– Japan’s Kirin brewery writes off nearly US$200m in Myanmar
+ Russia will reach 2019 levels of trade by end year, to reach pre-pandemic levels
+ Russian oil export revenues surged 21.5% in first 6-mth YoY
+ Russian energy giant Cazprom revenue surged 73% in H1 YoY on rising natural gas prices
+ Russian oil exports to US surged 23% this year to become US’s 2nd largest crude supplier after Canada
+ Cuba to allow SMEs to incorporate in coming mths
+ OEPC+ may increase global crude supply threefold next year, led by US: IEA
– IAE trimmed outlook for global oil demand in 2021, citing rapidly spreading Delta variant
– Gold slides to 5-mth low as upbeat jobs data from US boosting expectations of money tightening by Fed
– Hackers returned almost all of the US$613m in cryptocurrency stolen from blockchain platform Poly Network
+ Poly Network offered hackers US$500,000 “bug bounty”, thanked the hacker generally aims to expose cybervulnerabilities
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+ European stocks scaled new highs and clocked 4th consecutive week of gains on optimism over robust earnings
– European trade surplus shrinks due to supply chain disruption
– EU gas imports from Russia has increased by 28.52% in first 6-mth
+ UEFA said close to €6bn rescue package to help European soccer to recover from pandemic
– Germany’s July annual consumer price inflation accelerated by more than expected to hit 13-year high
– German rail union warns of further strike action
+ Adidas to sell brand Reebok to US company, worth €2.1bn
+ FTSE 100 on track for longest winning streak since Nov
– Virgin Galactic falls as Branson sell stake worth US$300m
+ Turkish lira rallied after central bank held its benchmark interest rate, resisted Erdogan’s calls for rate cut
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– Sydney tightens its lockdown as Delta cases surge to record
+ NZ central bank looks set to become first major economy to lift interest rates since Covid-19 hit
+ NZ hopes to cautiously reopen to the rest of the world in 2020
– India economy has not reached the level where central bank can begin pulling back liquidity: FM
+ India’s merchandise exports rose for 8th straight mth in July to US$35.43bn, up nearly 50% YoY
+ India is set to allow Boeing 737 Max jets to resume flights in the country within days
+ Samsung leader Jay Y. Lee released from jail on parole for ‘good beahviour’
+ Saudi Arabia saw its oil revenue rise 38% in Q2, due to higher oil and tax revenue
– Afghanistan Taliban enters capital Kabul, airport reportedly under fire
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+ Bank Indonesia working with other banks and govts in ASEAN region, China to reduce use of US dollar
+ Indonesia launches simplified business licensing system to boost investment
+ Thailand rice exports expected to continue to increase for the rest of this year, helped by weak baht n competitive prices
+ Thailand oil giant spending billions dollars on EVs and renewable energy companies
– Thai Baht has depreciated >10% against dollar so far this year, becoming Asia’s worst performing currecny
– Bangkok average occupancy rate retail spaces in Q3 falls to lowest level in almost 2 decades
+ Vietnam set goal that digital economy should represent 20% of GDP
+ Philippines economy saw its fastest YoY growth in 30 years, GDP rose 11.8% in Q2
– Philippines new lockdown in Metro Manila to case nearly US$3bn in economic damage per week
– Malaysian PM Muhyiddin expected to resign on Monday
– Malaysia central bank lowered 2021 economic outlook 2nd time to 3-4%, due to resurgence in Covid-19 infections
+ Malaysia has administered 31% or 10.14m ppl both doses of Covid-19 vaccine: Health Minister
– Malaysia reopens My Second Home (MM2H) with quadrupled income requirement, FD Ac with balance RM1m
+ Malaysia, Cambodia launch cross-border digital money transfers
+ Sg economy grows 14.7% in Q2 from low base, full-year GDP growth forecast upgraded to 6-7%, up from 4-6%
+ Sg >75% of population has completed full Covid-19 vaccination regimen: MOH
+ Sg introduces measures to retain work permit holders for construction, shipyard and process sectors: MOM
– Sg supermarkets, malls among sector to be included in Covid-19 ‘vaccinate or regular test’ regime
+ Sg secured S$3.6bn in fixed asset investment commitments in Q2
+ Sg ranked 4th most expensive construction market to build in Asia, 37th most expensive globally: Tuner & Townsend Int’l
+ Sg life insurance industry up 61% to S$2.68bn in H1
+ CDL looks to launch nearly 2000 units in 4 projects
+ SIA reinstated monthly variable component to basic salary of all its Singapore-based staff since Aug 1
+ DBSV received in-principal approval to provide trading services for digital payment tokens
+ Olam Int’l considering raising US$2bn through London listing of its food ingredients unit next year
– Isetan to exit Parkway Parade store after nearly 40 years

The above is only intended for reading pleasure, no assurance to the accuracy of content, readers are advised to verify and make their own assessment.

Please note that the information is only for entertainment purposes and should not be taken as any form of financial advice

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