Two of Singapore’s biggest banks are set to join a couple of blue-chip property companies with results.
In February, DBS Group (SGX: D05) posted a 10% jump in fourth-quarter earnings, as it reported a 28% rise in full-year profits. Singapore’s largest bank said it could see high single-digit income growth for 2019.
United Overseas Bank (SGX: U11) is also set to report first-quarter numbers. At the time of its fourth-quarter results, the bank said it will be prudent in navigating headwinds that include heightened geopolitical risks and volatile markets.
In the final three months of its financial year, CapitaLand (SGX: C31) said profits jumped 71% to S$475.7 million. It said the improved performance was due to higher gains from asset recycling and fair value gains from revaluations of its investment properties.
Ascendas REIT (SGX: A17U) increased its third-quarter distribution by 0.7% in January. It said it will be developing and managing Grab’s new S$181.2 million headquarters located within the one-north business park for 11 years.
On the economic front, the US Fed will announce its latest interest-rate decision. It is likely to leave them unchanged at 2.5%. At the time it said it would slow the shrinking of its balance sheet, as it lowered its economic growth forecast for this year to 2.1%.
China will be hosting, yet again, a US trade delegation in the hope of resolving the bitter trade dispute between the two countries. China will also release some key purchasing managers indices, which is expected to show that manufacturing and services continue to expand.
Some flash GDP and inflation readings are expected to show that the eurozone grew at an annualised rate of 1% in the first quarter, and that core inflation in the economic bloc remains stuck below 1%.
And finally, lending figures for March could provide a fillip for Singapore banks. They are expected to show that lending rose from S$672.3 billion in February to S$678 billion in March.
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 has recommended, DBS, UOB, dairy Farm and Hongkong Land. Motley Fool Singapore Director David Kuo owns shares in DBS, UOB, Ascendas REIT, Dairy Farm and Hongkong Land.