Monday 20 May 2013

Market Daily - 20 May 2013


Good afternoon from Asia and good morning to Europe.

Asia markets continue to rally tracking last Friday US equity performance as today spark a new trading week.

Mid-day report from the Singapore equities

Gainers:
·         XMH up 17% as Credence Capital Fund II agrees to buy 36m new shares at S$0.2774
·         WE Holdings up 8.8% as they announce S$20m investment into Myanmar cement plant
·         Cordlife up 3.8% as they seek to buy assets in Indonesia, Philippines, HK and India
·         Capitaland up 0.8% after its Ascott Limited get first serviced residence management contract in Saudi Arabia

Losers:
·         Ace Achieve down 23%
·         Mercator Lines down 0.9% as its reported a full year loss of $77.7m vs profit of $7.8m a year ago

Data this week:

Monday:

USD Chicago Fed National Activity Index

Tuesday:

AUD Conference Board Leading Index, RBA Meeting Minutes
NZD RBNZ 2 Year Inflation Expectation, Credit Card Spending
JPY All Industry Activity Index
GBP PPI, CPY

Wednesday:

JPY BoJ Rate Decision
AUD Westpac Consumer Confidence
GBP BoE Minutes, Retail Sales, Public Finances
USD Bernanke Speech on Economic Outlook, Existing Home Sales

Thursday:

AUD Consumer Inflation Expectation
CNY HSBC Flash Manufacturing PMI
JPY BoJ Monthly Eco Report for May
EUR PMI
GBP GDP
USD Jobless Data, Housie Price Index, PMI (Prelim)

Friday;

EUR GDP, German Consumer Confidence, German IFO
USD Durable Goods

Interesting Read of the Day

Why this week might be a week of sell off, cnbc has the answer here: http://www.cnbc.com/id/100746660

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