Singapore Market Week Ahead: SGX Earnings Highlights, April Balance of Trade, Bill Yield Trends and More

May 13, 2024

The Singapore Exchange (SGX) remains a hub of activity this week as numerous companies unveil their earnings reports.

Investors eagerly await results from real estate investment trusts (REITs), including retail-focused Sasseur REIT (SGX:CRPU), whose Q1 2024 will shed light on consumer sentiment and footfall in shopping centres. Additionally, EC World REIT (SGX:BWCU) is expected to report its Q1 2024 earnings, which could reflect the growth of online retail, while fibre broadband infrastructure provider Netlink NBN Trust (SGX:CJLU) will undergo analysis, with its FY2024 performance closely tied to Singapore’s digital connectivity.

In the telecommunications sector, investors are keenly watching the Q1 2024 results of major telecom player Starhub Ltd (SGX:CC3) and telecom solutions provider TeleChoice International Ltd (SGX:T41). As a bellwether for tourism, Singapore Airlines Ltd (SGX:C6L)’s FY2024 results will reveal whether the company will post its highest-ever net profit.

Moreover, Asian Pay Television Trust (SGX:S70U) will release its Q1 2024 results, offering insights into the state of pay-TV services in the region. Performance reports from palm oil producer Golden Agri-Resources Ltd (SGX:E5H) for Q1 2024, Thai Beverage PLC (SGX:Y92) for 1H 2024, and ASL Marine Holdings Ltd (SGX:A04) for Q3 2024 results will further gauge the performance of their respective sectors.

Turning to economic indicators, the release of Singapore’s Balance of Trade data for April is imminent. The trade surplus recorded in March 2024 underscores Singapore’s reliance on exports, with the country’s economy thriving on purchasing intermediate goods and exporting high-value products.

Other indicators to watch are Singapore’s 1-month and 3-month bill yields, which will impact the Singapore Dollar (SGD). A higher-than-expected yield signals optimism for the SGD, while a lower yield may be interpreted as bearish.

In addition to local developments, investors should also monitor developments in world economies in April 2024, particularly in the United States (US) and China. The US is releasing its Producer Price Index (PPI) for April, offering insight into changes in selling prices received by domestic producers for their output. Another highly anticipated event is the Federal Reserve Chair Jerome Powell’s Speech, which will offer hints on monetary policy and inflation targets. The United States Inflation and Core Inflation Rate for April are also on the radar.

Both US and China are announcing their retail sales data for April. China’s retail sales rose by 3.1% year-on-year in March 2024, which fell short of market forecasts of 4.5%. The modest growth in retail sales suggests that consumer confidence may not be fully restored.

China Industrial Production, which reflects output in manufacturing, mining, and utilities, will showcase its April data. China’s industrial production grew by 4.5% year-on-year in March 2024, also falling below market forecasts of a 5.4% increase.

China’s Urban Surveyed Unemployment Rate for April, calculated through sample surveys, will display the latest ratio of the urban unemployed population to the sum of the employed population and the unemployed population.

Investors who stay informed about these data are likely to quickly grasp the impact on investor sentiment and market trends in the upcoming week.

Disclaimer: ProsperUs Manager of Content Hailey Chung doesn’t own shares of any mentioned companies.


Hailey Chung

As a lifelong learner, Hailey strives to simplify finance for everyday investors, making it relatable and enjoyable. She desires to support investors with various background, whether they are grappling with limited time and resources in seeking financial freedom or are sincere in stewarding their money well as a token of gratitude for God's provision. With a focus on responsible investing, Hailey balances caution and opportunity, believing life's too short to stress over market fluctuations. Beyond the pursuit of profits, she advocates for investments aligned with building a better world. As Manager of Content at ProsperUs, she leverages her journalism background from The Edge Malaysia, where she honed her skills at the capital and corporate desk.

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