The Afternoon Update with Lynlee Foo

After a pause last month, the US Federal Reserve is largely expected to implement another interest rate hike later this week. And that’s despite recent indications of slowing inflation.  But will this be the final hike? And is recession no longer on the cards?  To take a look at how markets are reacting at the moment ahead of this decision and how this will affect growth stocks including tech stocks, and to find out whether the S&P 500 is fully out of the bear market, on Money in the Market, Hongbin Jeong speaks to Tareck Horchani, Head of Dealing, Prime Brokerage, Maybank Securities. 

We’re just days ahead of the next interest rate decision from the US Federal Reserve. The Fed’s next meeting is on July 25 and 26, and the central bank is largely expected to announce another 0.25% rate hike after pausing its campaign in June. And as the meeting draws nearer, volatility in the stock market could increase.  So how should you allocate your assets? What are some of the implications the FOMC meeting will have on investment portfolios?  And speaking of allocating our assets carefully - is a 60/40 investment strategy working so far this year? Should we go back to the basics?  On Money in the Market, Hongbin Jeong speaks to Clarence Chan, Head of Client Solutions, APAC ex Japan at BNY Mellon Investment Management to find out more.

Market sentiment and trading activities look poised to improve along with the positive developments in macroeconomic conditions.  In the US, where investors ended last week bullish, investors have been encouraged by the sustained decline in inflation and a resilient economy. But over in China, investors have shown their pessimism about the weakness of the country’s economy. Will the divergence between return and sentiment, along with rising volatility and low volumes, lead to a market correction in China? What's the outlook like on Chinese equities in the second half?  On Money in the Market, Hongbin Jeong speaks to Olivier d’Assier, Head of Applied Research, APAC, Qontigo, to find out more. 

On The Afternoon Update, Hongbin Jeong is joined by Geoff Howie, Market Strategist at the SGX, for a market wrap of the week on Market View. They discuss STI's performance the past week; biggest movers; how NetLink NBN Trust is faring after being listed on SGX six years ago; more on Tesla, Netflix and Goldman Sachs earnings; whether TSMC can become a heavyweight in the global race to develop next-generation AI; AI frenzy here in Singapore; and what to expect for the US interest rate next week. 

Investors rushed into fixed income in the first few weeks of this year as expectations that major central banks would soon end their aggressive campaign of monetary policy tightening. But that record-breaking global bond market rally fizzled out as signs of persistent inflation continued to mount. Fast forward to the second half of the year - how are fixed income markets faring now? And what opportunities should we be looking out for? On Money in the Market, Hongbin Jeong speaks to Carol Lye, Associate Portfolio Manager & Senior Research Analyst, Brandywine Global Investment Management, to find out more.

Inflation across the Asian region has been relatively well contained as compared to developed-world counterparts, and such an improving macro backdrop is proving well for Asian investment grade credit. So what lies ahead in Asia’s fixed income markets? And where are the biggest opportunities within fixed income that may see robust returns? On Money in the Market, Hongbin Jeong speaks to Omar Slim, Co-Head of Asia ex Japan Fixed Income, PineBridge Investments, to find out more.

Stocks have been in rally mode after the Nasdaq Composite had its best first six months of year in four decades, and the S&P 500 gained 16% during the same period. So where are stocks headed in the second half of 2023? Some experts expect them to be "fat and flat," warning investors to beware of the bust that follows the boom. So are US stocks still an attractive option for us? On Money in the Market, Hongbin Jeong speaks to Jonathan Woo, Senior Research Analyst from Phillip Securities Research, to find out more.  Highlights: 01:11 - How have markets performed in the first half of the year?  02:14 - What’s the outlook of the US stock market in the second half of the year?  02:41 - Can the S&P 500 likely climb above 2022 high? 03:40 - Will the 'Magnificent 7"  continue to drive up markets for the second half?  06:14 - Are US stocks still an attractive option for Singaporeans?

It’s earnings season.  Over in the US, big banks kicked off the season with JPMorgan Chase, Wells Fargo , and Citigroup all reported quarterly results that topped analyst estimates. And Asia’s earnings kick off this week, with tech companies in the limelight. So what can we expect and what should we be looking out for? On Money in the Market, Hongbin Jeong speaks to Felix Tam, Breaking News Editor at Bloomberg, to find out more. 

Most Asian currencies have strengthened, while the dollar languished at 15-month lows after weaker-than-expected US inflation data spurred bets that the Federal Reserve was close to hitting peak interest rates. So who were the biggest gainers on the back of the weaker dollar? And are the best days for the greenback over? On Money in the Market, Hongbin Jeong speaks to Peter Chia, Senior FX Strategist at UOB to find out more. 

On The Afternoon Update, Hongbin Jeong speaks to Candace Li, Research Analyst from the SGX for a market wrap of the week. They discuss STI's performance in the past week; stocks that saw heavy trading this week, including Thomson Medical and Yangzijiang Shipbuilding; as well as how Singapore's economy has avoided a technical recession.