The focus next week could be more on political events rather than economic numbers when Robert Mueller testifies before the House Judiciary Committee. This will be followed by a testimony before the House Intelligence Committee.
In Japan, the country will be totting up the votes for its Upper House election. The Abe-led Liberal Democratic Party-Komeito coalition is expected to maintain its majority. This should make it easier for the government to push through its sales-tax hike in October.
On the economic front, the market will get a first look at America’s second-quarter economic growth rate. It is expected to be considerably slower than in the first three months of the year.
The European Central Bank will announce its latest interest-rate decision. It is widely expected to keep it unchanged at 0%. Elsewhere, the Bank of England is forecast to keep its benchmark rate unchanged at 0.75%.
Thailand will report balance of trade for June. This is expected to jump significantly from US$0.18 billion in May to US$1.3 billion in June. Meanwhile, Vietnam is expected to say that foreign direct investment increased from US$9.1 billion in June to $10.5 billion in July. And inflation in Malaysia could have risen from 0.2% in May to 0.7% in June.
Could there be more cheer in store when CapitaLand Mall Trust (SGX: C38U) reports second-quarter results. In April, the shopping-mall landlord raised its first-quarter payout by 3.6%. But it expressed caution amidst a slowdown in both the global and Singapore economies. It also warned that competition amongst shopping malls could intensify.
Hutchison Port Holdings (SGX: NS8U) posted a minuscule 0.3% rise in first-quarter revenue. But net profit slumped by a-third. Interest and other finance costs rise by a-fifth because of higher Hibor and Libor applied to its loans.
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