The Week Ahead DBS, UOB And OCBC In Focus Again

Another G20 meeting kicks off on Monday. This time it will be in China. The talking shop of global leaders in Hangzhou next week is likely to focus on issues such as how to achieve growth in a slow-growth global economy and good financial governance.

There are always high hopes that something good will come out of G20 summits. But can anyone really remember what happens after the leaders return to their respective homes?

It is time for those closely-watched Non-farm Payroll numbers again. Last time out, a whopping 225,000 jobs non-farm jobs were created, which exceeded market expectations. The strength of the US jobs market coupled with the low unemployment rate could have an influence on the Fed’s decision on interest rates in October.

The state of consumer spending in Japan will be laid bare next week. Despite the huge efforts by the Bank of Japan to stimulate a moribund Japanese economy, Japanese consumers continue to dig in their heels. Last month, consumer spending declined by 2.2%, which marked the fourth straight month of falls?

Staying with consumers, the confidence of UK households will be put under the microscope following Britain’s decision to leave the European Union. Last month, confidence levels fell sharply to a reading of minus 12. It was the sharpest drop in 26 years.

Closer to home, the Monetary Authority of Singapore will release the latest bank lending figures on Wednesday. The numbers could have an impact on Singapore’s three biggest lenders, namely, DBS Group (SGX: D05), UOB (SGX: U11) and OCBC (SG: O39). Lending by banks to the private sector has been on the slide as Singapore manufacturers lose their appetite to borrow money.

The Motley Fool's purpose is to help the world invest, better. Click here now for your FREE subscription to Take Stock - Singapore, The Motley Fool's free investing newsletter. Written by David Kuo, Take Stock - Singapore tells you exactly what's happening in today's markets, and shows how you can GROW your wealth in the years ahead.

Like us on Facebook to keep up to date with our latest news and articles. The Motley Fool's purpose is to help the world invest, better.

The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned.