Next Week’s News Today: Bye-Bye Jardines

Monday is Labor Day in the America, so the US markets will be closed. On the other side of the globe, China will return after a two-day break from celebrating Victory Day. So fasten your seatbelts next week for more shenanigans from the Shanghai stock exchange.

Staying with China, a raft of numbers is expected from the world’s second-largest economy. The Balance of Trade figures could be eyed for signs that the economy might be slowing down. In July China reported both a slump in exports and a drop in imports. But the Balance of Trade was positive because the “slump” wasn’t as bad as the “drop”.

Elsewhere, Retail Sales could provide some useful pointers as to how successful China has been in rebalancing its economy. Whilst there have been concerns about a slowdown in China’s economy, annual retail-sales growth has not dipped below 10% in the last 12 months.

The recent employment numbers from the US were a bit like a curate’s egg – good in parts. The world’s largest economy added jobs in August but not as much as economists had forecast. Only 173,000 jobs were created against a forecast of 217,000. But importantly, the unemployment rate has fallen to just 5.1%. Next week, American will report Continuing Jobless Claims, which is another useful gauge of the labour market.

Closer to home, Straits Times Index stalwarts Jardine Matheson (SGX: J36) and Jardine Strategic Holdings (SGX: J37) will bow out of the benchmark index on 21 September. Joining them will be Olam International (SGX: O32). The three companies’ shares are deemed to be not liquid enough to be included. They will be replaced by UOL Group (SGX: U14), Yangzijiang Shipbuilding (Holdings) (SGX: BS6) and SATS (SGX: S58).

And staying in Singapore, citizens of the Garden City will be going to the polls to vote in a General Election on Friday 11 September. For the first time since 1963, all 89 seats will be contested.

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