The Week Ahead: A REIT-tastic Week

The earnings season carries on apace with plenty of Real Estate Investment Trust (REITs) stepping into the spotlight.

Mapletree Logistics Trust (SGX: M44U) will be the standard bearer, when it reports number on Monday. Other notable REITs include Ascendas REIT (SGX: A17U), Suntec REIT (SGX: T82U), Fortune REIT (SGX: F25U) and CDL Hospitality Trusts (SGX: J85).

Away from the REITs, Keppel Corporation (SGX: BN4) could provide some useful insights into the state of the oil services industry on Thursday. Profits and revenues at the oil-rig builder have slumped in first nine months of the year. But higher oil prices could signal start of better things to come. Ezra Holdings (SGX: 5DN) will report figures next week too.

Shares in Singapore’s third-largest telecom company M1 Limited (SGX: B2F) slumped by more than 25% last year. They are up 11% this year. Could this be a sign that the market believes that M1 has what it takes to cope with Singapore’s newest telecom operator TPG Telecom.

On the economic front, the US will provide its first estimate for growth in the fourth quarter of 2016. In the three months to September, the US economy grew at an annualised rate of 3.5%, which was the fastest growth for two years. Growth was thanks in part to consumer spending, investment in Intellectual Property and government expenditure.

China will be reporting some closely-watched economic numbers. These include Manufacturing and Non-manufacturing PMI numbers. Any figure above 50 would be considered to be good enough.

British Prime Minister, Theresa May, could be on tenterhooks on Tuesday, when the Supreme Court will rule on Brexit. The court will decide whether to reject or uphold the UK Government’s appeal against a High Court ruling that blocked the royal prerogative from being used to trigger Brexit without first giving MPs a vote.

And finally, Singapore will post the latest inflation numbers on Monday. For the first time in two years, year-on-year was not negative in November. This was thanks to a faster rise in food prices and a slower drop in housing costs. Core inflation, however, has been on an upward trend.

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