The Afternoon Update with Lynlee Foo

For market wrap of the week, Hongbin Jeong speaks to Emelia Tan, research analysts at the SGX to find out how the STI performed in the past week; the biggest movers on the STI; what to expect from local banks as they report earnings in the following weeks; a look at US initial jobless claims and what it signals; whether there has been a shift in market optimism that rate hikes are going to end by this year; and what to look out for in the following week. 

Investor sentiments seem to be improving despite the slowing down of the global economy, especially in Asia. But what’s driving this positive sentiment? And will this bullish tone of markets continue?  On Money in the Market, The Afternoon Update’s Hongbin Jeong speaks to Olivier d’Assier, Head of Applied Research, APAC at Qontigo to find out more.

We’re only in the second month of the year, and we’ve already seen an impressive year-to-date rally in the stock market to kick off the year. But will this momentum continue? Will 2023 be a repeat of 2022 or something different? On Money in the Market, The Afternoon Update’s Hongbin Jeong speaks to Samuel Rhee, Chairman & Chief Investment Officer, Endowus to find out whether or not right now is the best time to buy equities and how investors should be better positioned this year. 01:40 - Will the stock market rally continue throughout the rest of the year?  03:31 - Is now the time to buy equities? Or should we wait?  06:11 - What sectors will outperform this year? 13:36 - Does a 60/40 portfolio still work in the current market condition?  15:20 - How can investors well position themselves this year?

While the dollar has eased after Jerome Powell’s latest speech failed to offer fresh signs of a hawkish pushback against a resilient labour market in the United States, the dollar had seen a rally prior following Friday's blockbuster jobs report- which sent the U.S. dollar index to a one-month high. But was this a short-lived rally? Or is it signally more gains for the dollar are to come? On Money in the Market, The Afternoon Update’s Hongbin Jeong speaks to Lim Jun Kit, Strategist at Phillip Nova to find out more. 

It’s been a long, hard struggle for emerging-market equities. Since peaking in late 2010, emerging markets have underperformed global developed equities amid a confluence of macroeconomic and market headwinds. But, in the beginning of this year -  emerging market equities have rallied more than a fifth from their October trough. So could this emerging-market equities’ rebound rally extend throughout the rest of the year? On Money in the Market, The Afternoon Update’s Hongbin Jeong speaks to Dr Sailesh Jha, Group Chief Economist and Head of Market Research at RHB to find out more. 

The stock rout in Gautam Adani’s indebted conglomerate has entered a third week. And the continued selloff is indicating growing concerns about the conglomerate’s access to funding after Adani Enterprises shelved a key bond sale plan, less than a week after it abruptly abandoned a record domestic stock offering. On Money in the Market, Hongbin Jeong spoke to Suvashree Ghosh, Finance Reporter for APAC and Abhishek Vishnoi, Senior Reporter for Equities from Bloomberg to find out what’s happening in the Adani saga and how much the turmoil has impacted markets.

On The Afternoon Update, Geoff Howie, Market Strategist at the SGX, joins Hongbin Jeong for a wrap of markets for the week; including how the STI performed; the biggest movers of the week; financial results from several REITs; Keppel Corp shares following its earnings; how the latest US Fed rate hike affects local bank shares; as well as what to look out for in the week ahead. 

The Federal Reserve has raised its target interest rate by a quarter of a percentage point, yet policy makers have continued to promise “ongoing increases” in borrowing costs. But despite another warning that rate hikes are here to stay for longer - investors took heart from the chair’s remarks acknowledging that price pressures have started to ease. On Money in the Market, Hongbin Jeong speak to Vishnu Varathan, Head of Economics & Strategy, Asia at Mizuho Bank on how markets have reacted after this decision and what we can make of Jerome Powell’s speech. 

The World Gold Council has just launched their flagship quarterly Gold Demand Trends report for Q4 2022 and the full year of 2022- which discusses gold demand and supply in the past year and an outlook for 2023. According to the latest report, 2022 was the strongest year for gold demand since 2011, rising 18% year-on-year. On Money in the Market, Hongbin Jeong speaks to Andrew Naylor, Regional CEO (ex-China) & Public Policy at the World Gold Council to find out more. Highlights:  01:00 - What led to the surge in gold demand in 2022?  02:45 - Which countries saw a boost in gold demand last year?  04:02 - Was there strong demand for gold in Singapore?  05:14 - What does Singapore's demand for gold tell us about the economy? 06:16 - What were some trends seen from retail investors? 08:00 - What's the outlook for gold demand in the year ahead? 

The dollar is eyeing a fourth monthly loss as investors expect a peak in US interest rates could swing into view as soon as this week's Federal Reserve meeting. The currency market is subdued in the lead-up to Wednesday's Fed rate decision, though cautiousness across financial markets lifted the greenback by a fraction. On Money in the Market, Hongbin Jeong speaks to Philip Wee, Senior Currency Economist at DBS to find out where the US dollar is headed.