Singapore Market Week Ahead: Key events to watch out in Singapore, Top Glove earnings

Get ready for an eventful week as Singapore's market navigates a mix of local and international economic data, all of which will shape the city's financial landscape. Here’s what to keep an eye on:

1. Singapore’s Balance of Trade

Imagine you’re balancing your personal budget. In April 2024, Singapore managed to save a hefty S$4,525.96 million. Analysts are optimistic, forecasting that savings (or trade surplus) could grow to S$6,400 million by the end of this quarter. This indicates strong demand for Singapore's goods and smooth trading operations.

2. Non-oil Domestic Exports (NODX)

Think of this as how well Singapore’s exports are doing, excluding oil. In April, exports fell by 9.3% compared to the previous year, but it wasn't as bad as the expected 10% drop. Predictions suggest a smaller decline of 8% by the end of this quarter, hinting that things might be stabilizing.

3. Monetary Authority of Singapore (MAS) Bill Auctions

This is like checking the interest rates on your savings account. The MAS will auction several bills, and the yields on these bills give clues about short-term interest rates and how much money is circulating in the market. By the end of this quarter, expect the 12-week bill yield to be around 3.84%, the 4-week bill yield at 3.85%, and the 6-month Treasury bill yield at 3.63%.

4. Top Glove Corporation Bhd Earnings

Top Glove is set to release its Q3 FY2024 earnings. This company is a big player in the glove manufacturing industry. Just like waiting for a major brand to release its quarterly results, investors will watch closely for any signs of recovery despite pricing challenges.

5. International Data from China and the US

Think of China and the US as major customers whose buying habits affect your business. China will release data on industrial production and retail sales for May. Industrial production is expected to slow down slightly to 6.4% from 6.7%, while retail sales might improve to 3% from 2.3%, a recent low. These numbers will show how well China’s economy is bouncing back.

In the US, key data releases include May's Retail Sales, anticipated to grow by 0.3% after a flat April. Other important figures are Industrial Production for May, Existing Home Sales for May, and the Manufacturing and Services PMIs for June. These will help gauge how the US economy is performing and any impacts on Singapore.

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