In today’s briefing:
- Bear Market Rally or Turning Point (Again)?
- The Commodity Report #77
- The Week that Was in ASEAN@Smartkarma – Diagnosed with Prodia, ITail, and Jardine C&C
- CX Daily: Will Europe Pour More Money Into China?
Bear Market Rally or Turning Point (Again)?
- Do you remember July? Here we are again: left to assess whether we are looking at a bear market rally or a sustainable turning point for the stock market.
- Last week’s softer than expected inflation print spurred a massive rally across asset classes: the 60-40 portfolio posted one of its strongest 2-day performances ever, precious metals zoomed higher while the US Dollar took a beating.
- The magnitude of the market reaction was exacerbated by technical reasons we will discuss, but to assess medium-term implications we need to break down the CPI report and take a broader look at the global macro puzzle.
The Commodity Report #77
- Fundamentally speaking, it was nearly a perfect week for commodities as much major news aligned during the week after China eased some Covid restrictions, raising hopes of a demand recovery in the world’s second-biggest economy.
- Almost all major commodities traded higher following China’s move to reduce the time that travelers and close contacts of infected people must spend in quarantine, a significant amendment to the Covid Zero policy.
- China’s loosening of restrictions strengthened a rally that began on Wall Street, with risk assets rising after US inflation slowed.
The Week that Was in ASEAN@Smartkarma – Diagnosed with Prodia, ITail, and Jardine C&C
- The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia.
- The past week saw insights published on Prodia, I-Tail (ITC TB), Jardine Cycle & Carriage (JCNC SP) Singtel (ST SP), Golden Energy & Resources (GER SP), and Golden Agri Resources.
- There were also macro insights on Thailand’s economy and Malaysia’s impending election, as well as insights on Minor International, Berli Jucker, Kerry Express Thailand, and Bangkok Chain Hospital (BCH TB).
CX Daily: Will Europe Pour More Money Into China?
Business / Cover Story: Will Europe pour more money into China?
China-U.S. / Xi calls for China-U.S. relations to return to ‘right course’
Banking / Exclusive: Agricultural Bank of China to name Fu Wanjun president
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