Last week recap
The market seemed to have fully digested the impact of QE3 on the economy. After continued euphoria from the week before, stock prices staged a short-lived Monday-to-Tuesday rally before retracing lower for the rest of the week.
- STI surged to 3075 in early week before tumbling to 3040 in mid week. Closed at 3060 by friday.
- Hang Seng index continued its strong rebound with QE3 funds expected to give boost to its property prices and financial sector, touching 20850 on Friday.
- Dow opened the week strongly to hit 13610 by Tuesday before turning down on Wednesday and remaining flat until Friday at around 13440.
US stock exchanges suffered on Friday, closing much lower on the back of fears that the US economy is stalling despite a slightly better than expected Spain capital requirement stress test of banks.
Week ahead
- Monday
- China, Italy, France, Germany, UK - Sept Manufacturing PMI
- Euro-zone - Sept Unemployment Rate
- Ben Bernanke speech at the Economic Club of Indiana in Indianapolis
- Tuesday
- SG - Sept PMI
- South Korea - Sept Manufacturing PMI
- Wednesday
- Nil
- Thursday
- US - Aug Factory Orders
- US - Sept Initial Jobless Claims
- US - Sept Continuing Claims
- UK, Europe - Interest Rates Announcements
- Friday
- US - Minutes of FOMC Meeting
- US - Sept Change in Nonfarm Payrolls
- US - Sept Unemployment Rate
- Germany - Aug Factory Orders
Source: SGX MyGateway Economic Calendar
No comments:
Post a Comment