The Christmas Week In Numbers: Here Comes Santa Claus

Merry Christmas everyone!

It might well be a holiday-shortened Christmas trading week on the Singapore markets, but there was no shortage of numbers to keep everyone on their toes.

Rudolph the Red-Nosed Reindeer appeared on the scene through China’s National Development and Reform Commission (NDRC). According to the think tank, the Chinese government should continue to cut interest rates and bank’s reserve requirement ratio to bolster flagging growth. Maybe a 7% economic growth rate for China could still be possible!

Staying in the Middle Kingdom, Scrooge was spreading his trademark doom and gloom amongst China’s entrepreneurs and bankers. A couple of separate surveys showed that the entrepreneurs’ confidence index fell to 46%, while confidence amongst bankers slipped to 37.9%. No sign of Christmas cheer in China, then?

The Christmas Elves appeared to have been on an extended tea break last month in Singapore. According to the Economic Development Broad (EDB), manufacturing output fell for the tenth consecutive month in November. On a year-on-year basis, manufacturing output dipped 5.5%. Where are Santa’s little helpers when you need them?

The Grinch was in evidence earlier this week, as the price of a barrel of “black gold” fell to an 11-year low of US$36.04, before recovering on Wednesday. Brent crude cratered on concerns that warmer-than-normal temperature in the Northern hemisphere could dampen demand for energy this winter. Experts believe that the key to finding the bottom of the market would come from a tightening of the supply side. Genius conclusion but no respite for Keppel Corporation (SGX: BN4) and Sembcorp Marine (SGX: S51).

And finally Secret Santa appeared this week through a waiter in central California. The restaurant worker handed over $32,000 in cash that a family forgot at a table. Brian Geery declined a reward from the family. He just said he did it because it was the right thing to do.

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