Beyond the much-awaited Taylor Swift’s Eras Tour in Singapore this week and the market’s anticipation of the impact of Swiftonomics, there is the unveiling of Nio Inc’s quarterly results and several pivotal macroeconomic indicators across Asia that should be on the radar of Singaporean retail investors.
SGX Corporate Earnings Focus
Chinese electric vehicle (EV) company Nio Inc is scheduled to publish its 4Q results and full-year 2023 performance on Tuesday. The report will offer valuable insights into the growth potential of the EV sector amidst challenges of slowdown. Based on CGS’s view, Nio, which has listings in the US (NYSE: NIO), Singapore (SGX: NIO), and Hong Kong (SEHK: 9866), continues to attract forward-thinking investors. (Read: 5 Key Highlights Showcasing NIO’s Robust Investment Appeal – ProsperUs)
Additionally, attention will be on ex-dividend and ex-entitlement dates for Daiwa House Logistics Trust (SGX:DHLU) on Wednesday, potentially impacting stock movements. DHLT has maintained its distribution per unit of 2.61 Singapore cents for 2HFY2023.
Singapore Economic Data Highlights
Throughout this week, a series of important economic data releases will reveal indications of Singapore’s economic health. These include the Singapore Automobile COE Open Bid on Wednesday, which will display clues into the demand for cars.
The S&P Global Singapore Purchasing Managers’ Index (PMI) figures will be out early on Tuesday, providing a gauge of the economic activity in the services sector. Furthermore, the release of Singapore’s January retail sales data and foreign reserves data on Tuesday and Thursday respectively, will assess the strength of its domestic consumer behaviour and the nation’s financial stability.
We can also expect the Bloomberg March Singapore Economic Survey on Friday.
Asia Economic Data Overview
Neighbouring countries Malaysia, Indonesia, China, Hong Kong, Taiwan, South Korea, and Australia are also set to release their foreign reserves data this week, which will have indirect effects on the Singapore market. Of particular interest is the Malaysia’s monetary policy decision on Thursday, with the overnight policy rate (OPR) widely expected to be maintained at 3%.
South Korea will unveil its February Consumer Price Index (CPI) on Wednesday, following the release of its latest Gross Domestic Product (GDP) figures on Tuesday. Japan is slated to put out its February CPI for Tokyo on Tuesday, along with January’s trade data and household spending statistics on Friday.
Australia will issue its GDP numbers for the December quarter on Wednesday. Hong Kong’s economic pulse will be gauged with the S&P Global Hong Kong PMI on Tuesday, followed by the Bloomberg March Hong Kong Economic Survey on Friday. Meanwhile, Taiwan will publish its February CPI and Producer Price Index (PPI) data on Thursday, with expectations of a rebound in inflation reflecting the New Year effect.
Global Economic Indicators
Investors will also keep an eye on US economic indicators such as the release of January wholesale trade sales on Wednesday and February unemployment and under-employment rates on Friday. The release of US Federal Reserve’s so-called Beige Book, a qualitative review of economic conditions, on March 7, will provide guidance on economic activity across the country. Moreover, China’s latest trade data, scheduled to be announced on Thursday, will also be a focus.
As investors navigate through a week filled with data and analysis, the convergence of corporate earnings, economic indicators, and global trends sets the stage for strategic decision-making. Whether seeking opportunities in local markets or monitoring the pulse of global economies, stakeholders are reminded to stay vigilant, adaptable, and informed amidst the ever-evolving landscape of investment dynamics.
Disclaimer: ProsperUs Content Manager Hailey Chung doesn’t own shares of any companies mentioned.
