Key Economic Indicators

Transcription

1 Global Weekly Market Summary as of 26 th December 2017 US stocks rose over the week as the tax reform bill was finally passed by US Congress and sent for the signature of President Trump. FedEx rose by 4.15% to US$ after raising their annual profit forecast due to a strong start of the holiday season. Noble energy rose by 12.20% to US$28.79 after its chairman and CEO disclosed a purchase of 19,000 shares for US$500,000. Over the week, DJIA rose by 0.42% to 24,754.06, the S&P 500 rose by 0.28% to 2, and the NASDAQ rose by 0.34% to 6, European stocks were mixed as investors were cautious over the outcomes of the US tax reform bill and the upcoming Catalan parliamentary election. In Germany, Deutsche Bank AG fell by 1.39% to after announcing its plan of cutting 1,000 jobs through voluntary departures. In France, Safran SA rose by 2.25% to after securing an unconditional EU approval for its US$7.7 billion bid for aircraft seat maker Zodiac Aerospace. In the UK, Glencore Plc rose by 3.49% to 3.75 after being upgraded by JP Morgan to overweight. Over the week, the French CAC 40 rose by 0.29% to 5, while UK FTSE100 rose by 1.36% to 7, However, the German DAX fell by 0.23% to 13, Japanese stocks rose over the week as JPY continued to weaken against USD. Hitachi Ltd rose by 8.08% to after projecting an increase in operating margin to 7.1% for its financial year ending in March from 6.4% in the previous year. Mitsubishi Electric rose by 5.68% to 1, after forecasting better-than-expected operating margin of 7.7% for its financial year ending March. Over the week, the TOPIX rose by 1.99% to 1,829.08, and the Nikkei 225 rose by 1.55% to 22, Asian stock markets, except for those in Singapore and South Korea, rose over the week. In Hong Kong, BOC Aviation rose by 2.79% to HKD40.90 after announcing that it agreed to sell two Boeing ER planes. In Singapore, Singtel fell by 4.27% to SGD3.59 as its underperformance is expected to continue in 2018 amid increased competition. Over the week, the Hang Seng Index rose by 2.53% to 29, and the HSCEI rose by 2.53 % to 11, However, the STI fell by 0.91% to 3, Over the week, Brent crude oil rose by 3.19% to US$ Gold rose by 1.69% to US$1, Key Economic Indicators United States Unemployment claims increased to 245,000 in the week ending 15 December Existing home sales increased to 5.81m annualized rate in November from 5.50m annualized rate in October New home sales increased to 733,000 annualized rate in November from 624,000 annualized rate in October Building permits decreased to 1.298m annualized rate in November from 1.316m annualized rate in October Housing starts increased to 1.297m annualized rate in November from 1.256m annualized rate in October Crude oil inventories decreased by 6.5m barrels in the week ending 15 December Eurozone/UK Eurozone s consumer confidence increased to 0.5 in December from 0.0 in November Germany s Gfk consumer confidence index remained unchanged at 10.7 in December Germany s Ifo business climate index decreased to in December from in November France s household consumption increased by 2.2% mom in November Italy s trade surplus decreased to 4.26b in November from 4.95b in October UK s Gfk consumer confidence index worsened to -13 in December from -12 in November Japan All industries activity index increased by 0.3% mom in October Trade surplus increased to 0.36t in November from 0.35t in October Asia Pacific ex Japan (APEJ) Hong Kong s CPI increased by 1.6% yoy in November Singapore s non-oil domestic exports increased by 9.1% yoy in November Malaysia s unemployment rate remained unchanged at 3.4% in October Malaysia s CPI increased by 3.4% yoy in November Taiwan s unemployment rate decreased to 3.71% in November from 3.75% in October

2 Stock Market Indices Week Week Previous Closing Closing Absolute Percentage Month Absolute Percentage Country Index Change (%) Change (%) US DJIA 24, , % 23, , % US S&P 500 2, , % 2, % US NASDAQ 6, , % 6, % UK FTSE 100 7, , % 7, % Eurozone EURO STOXX 50 3, , % 3, % Germany DAX 13, , % 13, % France CAC 5, , % 5, % Italy FTSE MIB 22, , % 22, % Japan TOPIX 1, , % 1, % Japan NIKKEI , , % 22, % China Shanghai Com 3, , % 3, % Hong Kong HANGSENG 29, , % 29, % Hong Kong HSCEI 11, , % 11, % Taiwan TAIEX 10, , % 10, % South Korea KOSPI 2, , % 2, % Singapore STI 3, , % 3, % Malaysia FTSEKLCI 1, , % 1, % Thailand SET 1, , % 1, % Indonesia JCI 6, , % 6, % Philippines PSE 8, , % 8, % Vietnam VNX % % India SENSEX 33, , % 33, % Australia All Ordinaries 6, , % 6, % Brazil Bovespa 75, , , % 74, , % Turkey IMKB Nat , , , % 104, , % Russia RTS 1, , % 1, % Crude Oil Brent % % WTI % % Gold 1, , % 1, %

3 Exchange Rates US$ S$ US$ S$ US$ Yen Pound RM Euro HK$ AUD Baht Bid Price Performance Recommended Funds Mgt Fee CPF Currency Weekly Monthly Fidelity European Growth A EUR 1.50% no % 0.79% Fidelity France 1.50% no % 3.87% Fidelity Italy 1.50% no % -0.31% Fidelity Asian Special Situations USD 1.50% no US$ % -1.50% Fidelity China Focus SGD 1.50% no S$ % -1.08% Nikko AM Shenton Japan Fund 1.00% yes S$ % 0.54% Lion Global Japan Growth Fund 1.40% yes S$ % -0.86% First State Global Resources 1.50% yes S$ % 2.39% Janus Henderson Asia Pacific Property Equity 1.33% no S$ % -0.40% Eastspring Inv SG Select Bond Fund 0.50% yes S$ % -0.09% Pimco Total Return Bond SGD-hedged 1.40% no S$ % -0.61% Legg Mason WA Global Bond Trust 0.75% yes S$ % -0.91% Schroder ISF Glb Co Bnd SGD hedged* 0.75% no S$ % -1.73% AB Glb High Yield SGD hedged 1.70% no S$ % -0.07% Aviva Inv Global High Yield SGD hedged 1.20% no S$ % -0.64% Fidelity Asian High Yield AMDIST SGD hedged 1.00% no S$ % -0.32% Eastspring Investments MIP M 1.25% no S$ % -0.43% Janus Henderson Hzn Asian Div Inc-A3 SGD 1.20% no S$ % -0.07% *The fund will pay a dividend in early-january Ex Date: 21 December 2017

4 FPA Financial Fund prices are for Thursday Weekly Chg Mthly Chg Mgt Fee CPF Currency v v EQUITIES (I) USA Aberdeen American Opportunities 1.50% no S$ % 3.09% Fidelity America A- (SGD) 1.50% no S$ % 3.63% Legg Mason Value Fund CL A 1.35% no S$ % 4.22% M & G American Fund 1.50% no % 3.46% (II) Europe Allianz Europe Equity Growth 1.50% no S$ % -0.51% Fidelity European Growth A EUR 1.50% no % 0.79% HGIF Eur Eq-P 1.00% no S$ % 1.69% Janus Henderson Pan European Equity 1.33% no S$ % 0.47% Janus Henderson Hzn Pan European Alpha 1.33% no % 0.06% Eastspring Inv UT Pan European 1.50% yes S$ % 1.42% Fidelity France 1.50% no % 3.87% Fidelity Germany 1.50% no % 2.26% Fidelity Italy 1.50% no % -0.31% Fidelity Iberia 1.50% no % 2.70% Schroder ISF European Value A Acc EUR 1.50% no % 0.52% (III) Japan Aberdeen Japan Equity Fund 1.50% no S$ % -0.88% Nikko AM Shenton Japan Fund 1.00% yes S$ % 0.54% Fidelity Japan A- 1.50% no S$ % 0.42% HGIF Economic Scale Index Japan Equity 1.00% no S$ % 0.51% Lion Global Japan Fund 1.25% no S$ % -1.23% Lion Global Japan Growth Fund 1.40% yes S$ % -0.86% Schroder ISF Jap Eq A Acc 1.50% no US$ % 1.54% United Japan Growth Fund 1.50% no S$ % 0.52%

5 Weekly Chg Mthly Chg (IV) Asian Mkt ex Japan Mgt Fee CPF Currency v v APS Alpha Fund 0.00% no S$ % -4.12% Aberdeen Pacific Equity 1.50% yes S$ % -1.50% Nikko AM Shenton Asia Pacific Fund 1.50% no S$ % -2.22% Fidelity Asian Special Situations USD 1.50% no US$ % -1.50% Fidelity Asia Focus 1.50% no S$ % -1.09% Fidelity Asean A- 1.50% no S$ % 0.49% First State Asian Growth Fd 1.50% yes S$ % -1.82% FTIF-Templeton Asian Growth 1.35% no S$ % -3.07% Janus Henderson Asian Growth Fund 1.33% no S$ % -3.04% Legg Mason Asian Enterprise Trust 1.50% yes S$ % -2.99% Lion Global Asia Pacific 1.50% no S$ % -2.51% Schroder Asian Growth Fund 1.13% yes S$ % -2.05% United Asian Growth Opportunity 1.25% no S$ % 0.22% United Asia Fund 1.25% no S$ % -3.57% (V) China / Greater China Aberdeen China Opportunities 1.50% yes S$ % -0.27% Nikko AM Shenton Greater China Fund 1.50% no S$ % -2.65% DWS China Eqty Fund Cl A SGD 1.50% yes S$ % -2.63% Fidelity China Focus SGD 1.50% no S$ % -1.08% First State Regional China 1.50% yes S$ % -1.77% HGIF Chinese Equity-A 1.50% no S$ % -2.98% Janus Henderson Hzn China A2 1.20% no S$ % -2.05% United Greater China Fund 1.50% no S$ % -4.00% (VI) India Aberdeen India Opportunities 1.50% yes S$ % 1.75% Deutsche India Eqty Fd Cl A SGD 1.50% no S$ % 1.76% Eastspring Inv India Equity AS SGD 1.50% no S$ % 1.43% First State Regional India 1.50% no S$ % 2.46% HGIF Indian Eq-A 1.50% no S$ % 2.06% Lion Global India Fund 1.25% no S$ % 2.17% PineBridge India Equity A5 SGD 1.30% yes S$ % 3.54% (VII) Indonesia Aberdeen Indonesia Equity 1.50% yes S$ % 0.13% Fidelity Indonesia Equity 1.50% no US$ % 1.43%

6 Weekly Chg Mthly Chg (VIII) Malaysia Mgt Fee CPF Currency v v Aberdeen Malaysia Equity 1.50% yes S$ % 0.17% Lion Global Malaysia 1.25% no S$ % 1.81% (IX) Singapore Aberdeen Singapore Equity 1.50% yes S$ % -0.53% Nikko AM Shenton Thrift Fund 0.75% yes S$ % -2.14% Schroder Singapore Trust Cl A 1.13% yes S$ % -0.30% United Singapore Growth Fund 1.00% no S$ % -0.32% (X) Korea Lion Global Korea 1.25% no S$ % -5.64% (XI) Taiwan Fidelity Taiwan 1.50% no US$ % -4.23% Lion Global Taiwan 1.25% no S$ % -4.99% (XII) Thailand Aberdeen Thailand 1.50% yes S$ % -1.38% Fidelity Thailand 1.50% no US$ % 1.04% Lion Global Thailand 1.25% no S$ % 4.26% (XIII) Vietnam Lion Global Vietnam 1.50% no S$ % 5.50% (XIV) Emerging Markets Aberdeen Glb Em Mkts 1.50% yes S$ % -0.68% Fidelity Emer Mkt A-SGD 1.50% no S$ % -2.00% Stewart Investors Global Emerging Markets Leaders Fund 1.50% no S$ % 1.90% JPM Emerging Markets Equity A (dist) USD 1.50% no US$ % -1.15% HGIF Glb Emg Mkts Eq-AD SGD 1.50% no S$ % -0.94% Legg Mason QS Emerging Mkts Eq Cl A USD Acc 1.45% no US$ % 1.13% Schroder Emerging Markets Fund 1.85% no S$ % -2.20% Schroder Glb Emerging Market Opps Fund 1.25% yes S$ % -1.82%

7 Weekly Chg Mthly Chg (XV) Technology Mgt Fee CPF Currency v v Aberdeen Global Technology 1.50% no S$ % -0.43% AB Glb Thematic Research-A 1.70% no S$ % 0.12% First State Asia Opportunities Fund 1.75% no S$ % -2.23% Janus Henderson Global Technology 1.33% no S$ % -1.55% Eastspring Inv UT Global Tech 1.50% yes S$ % -1.50% United Global Technology Fund 1.75% no S$ % -1.59% United Global Telecoms Fund 1.50% no S$ % 2.97% (XVI) Life Sciences / Health Care AB International Health Care A 1.80% no S$ % 0.76% Fidelity Glb Healthcare 1.50% no % 0.97% UOB United Global Healthcare Fund 1.75% no S$ % 0.07% (XVII) Global Climate Change Schroder ISF Gb Climate Ch Eq A Acc SGD 1.50% no S$ % 0.82% (XVIII) Financials Fidelity Glb Financial Services 1.50% no % 4.08% United Global Financials 1.50% no S$ % 4.50% (XIX) Commodities First State Global Resources 1.50% yes S$ % 2.39% Schroder AS Commodity Fd SGD A Acc 1.50% no S$ % -2.42% United Global Resources Fund 1.50% no S$ % 4.26% United Gold & General Fund 1.50% no S$ % 1.67%

8 FIXED INCOME Weekly Chg Mthly Chg (I) Global Mgt Fee CPF Currency v v Nikko AM Shenton World Bank Green Bond Fund 1.00% no S$ % 0.00% Nikko AM Shenton Income Fund SGD 1.00% no S$ % -0.23% Nikko AM Shenton ShortTerm Bond SGD 0.30% yes S$ % -0.04% FTIF-Templeton Glb Bond A(mdis) SGD-H1 0.75% no S$ % -0.53% Legg Mason WA Global Bond Trust 0.75% yes S$ % -0.91% LionGlobal Short Duration Bond Fund 1.00% yes S$ % -0.03% Schroder ISF Glb Co Bnd A Acc USD 0.75% no US$ % -0.26% Schroder ISF Glb Co Bnd SGD hedged* 0.75% no S$ % -1.73% *The fund will pay a dividend in early-january Ex Date: 21 December 2017 (II) Regional Pimco Total Return Bond SGD-hedged 1.40% no S$ % -0.61% Pimco Income Fund SGD-Hedged 1.45% no S$ % -0.48% Nikko AM Shenton Asia Bond S$(CL A) 1.00% no S$ % 0.24% Deutsche Lion Bond Cl A* 0.50% yes S$ % -0.06% Lion Global SGD Money Market 0.25% no S$ % 0.08% PIMCO Emerg Mkt Bd Cl E SGD Hedged 1.69% no S$ % 0.24% Eastspring Inv SG Select Bond Fund 0.50% yes S$ % -0.09% Schroder Asian Credit Opportunities 0.75% no S$ % -0.17% Schroder Asian Investment Grade Credit Class A 1.10% yes S$ % -0.46% Schroder ISF EM Debt Ab Return SGD hedged** 1.50% no S$ % -0.57% *The fund would no longer be CPF approved from 15 February **The fund will pay a dividend in early-january Ex Date: 21 December 2017 (III) High Yield Allianz US High Yield SGD hedged 1.20% no S$ % -0.25% AB Glb High Yield SGD hedged 1.70% no S$ % -0.07% Aviva Inv Global High Yield SGD hedged 1.20% no S$ % -0.64% Eastspring Inv Asian HY Bond SGD ASDM hedged 1.25% no S$ % -0.72% Fidelity US High Yield AMDIST 1.00% no S$ % 0.00% Fidelity EUR High Yield AMDIST 1.00% no S$ % -0.59% Fidelity Asian High Yield AMDIST SGD hedged 1.00% no S$ % -0.32% Legg Mason Glb High Yield SGD hedged 1.25% no S$ % -0.24% PIMCO US High Yield Bond 1.45% no US$ % 0.20% Schroder ISF Glb HY A DIS SGD-H 1.00% no S$ % -0.88%

9 Weekly Chg Mthly Chg REAL ESTATE Mgt Fee CPF Currency v v Nikko AM Shenton Gl Prop SecsFund SGD 1.50% yes S$ % -1.32% First State Global Property Invt 1.50% no S$ % -4.54% Janus Henderson Asia Pacific Property Equity 1.33% no S$ % -0.40% Janus Henderson Pan European Prop Sec 1.33% no S$ % 3.98% Janus Henderson Global Property Eq Fd 1.33% no S$ % -0.82% United Global Real Estate Securities Fd 1.30% no S$ % -0.28% HIGH PAYOUT Allianz Glb High Payout (SGD)* 1.65% yes S$ % -0.81% DWS Invest Top Dividend LDQ SGD 1.50% no S$ % 0.00% First State Bridge 1.25% yes S$ % -0.81% First State Dividend Advantage 1.50% yes S$ % -1.10% Janus Henderson Hzn Asian Div Inc-A3 SGD 1.20% no S$ % -0.07% Schroder Asian Income SGD 1.25% no S$ % 0.17% Eastspring Investments MIP A 1.25% no S$ % 0.00% Eastspring Investments MIP M 1.25% no S$ % -0.43% *The fund will pay a dividend in late-december. Ex Date: 18 December 2017 FPA Financial latest list of recommended funds are highlighted in blue. Disclaimer: The research data, information, or opinion expressed herein may include those that are provided by third parties. They are provided by sources we believe to be reliable, but we do not warrant or guarantee their accuracy, timeliness, completeness or suitability for any particular purpose. Any research data, information, or opinion expressed does not constitute a solicitation for the purchase or sale of any investment. The opinions or recommendations expressed herein are premised upon reasonably available data at the relevant time. Please note that markets and the value of investments may experience significant fluctuations in short periods of time, which may render the opinions or recommendations incomplete, inaccurate or inappropriate. You should take into account such fluctuations or other material events before relying on the opinion or recommendation for assessing your investment decisions. We shall not be howsoever liable for any opinions or recommendations being incomplete, inaccurate or inappropriate due in whole or in part to subsequent unforeseen events.