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The Week Ahead: Earnings Season Is Here

The Singapore earnings season kicks off next week with Singapore Press Holdings (SGX: T39) the first to step into the spotlight on Friday. A lot has happened since the newspaper publisher reported its second-quarter numbers in April. At the time, SPH said bottom-line profits fell 1.2% from a year ago.

But since then, the owner of The Straits Times has splashed out S$164 million on Orange Valley Healthcare. The acquisition is SPH’s first foray into the healthcare market.

On the economic front, all eyes could be on the latest US inflation data. The US Federal Reserve is still scratching its head as to why there is little inflationary pressure in the American economy. Some rate-setters are even wondering whether the Fed needs to raise rates at all under the benign conditions.

China will report inflation numbers too. Last month, it said consumer prices rose 1.5% year on year. It was the highest inflation rate this year, though most of it came from non-foods. The politically-sensitive food prices actually fell 1.6%.

Malaysia is on the hook for an interest-rate decision. At the last meeting, the central bank left interest rates unchanged at 3%. Bank Negara Malaysia reckons that the economy could continue to grow, while inflation could moderate in the second half of the year.

Singapore will report retail sales for May. Last month’s data appeared to suggest that sales at department stores and supermarkets rebounded. Meanwhile, sales of watches and jewellery, medical goods and apparel and footwear continued to do well.

And don’t forget Singapore Food Festival kicks off on Friday with a display of cuisines at the signature event, STREAT, at Clifford Pier. For me, it’s more than a chance to savour the scent and taste of local fare. It could be an inspiration for my next Take Stock Singapore. 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.

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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.