The Week Ahead: Earnings Season Kicks Off With SPH

The Singapore earnings season kicks off with third-quarter numbers from Singapore Press Holdings (SGX: T39).

The media and property company reported a 25% drop in second-quarter earnings in April. The owner of the Straits Times said it will focus on investments with steady cash yield to generate new sources of revenue and profit. SPH subsidiary SPH REIT (SGX: SK6U) will also announce results.

On the economic front, America will report inflation numbers for June. Headline inflation is expected to edge up again to 2.9%. In May, inflation increased to 2.8% because of higher gasoline prices.

China will also report inflation numbers for June that are expected to show an increase from 1.8% to 2%.

Of more interest, though, will be June’s trade surplus with the rest of the world. That is expected to indicate that China exported US$29 billion more than it imported. The trade surplus with the US will be closely scrutinised.

There are inflation numbers from India that could provide some clues to the direction of interest rates. The headline rate could climb for the fourth consecutive month to 5.2%. In April, upward pressure came from rising food prices.

Finally, Singapore will provide a first look at how the economy fared in the second quarter. It is expected to have grown at an annualised rate of 3.7% between April and June.

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