It will be an important five days for the Singapore stock market when nearly a-third of the Straits Times Index (SGX: ^STI) companies will step forward with results.
The three Singapore-listed banks are pencilled in for quarterly numbers. In April, DBS Group (SGX: D05) beat market estimates with a 9% rise in first-quarter earnings. Strong net-interest income helped to offset weakness in wealth management.
There are also results from United Overseas Bank (SGX: U11) and Oversea-Banking Corporation (SGX: O39).
A quintet of companies from the Jardine stable are pencilled in for results. In an interim management update in May, Jardine Strategic Holdings (SGX: J37) and Jardine Matheson (SGX: J36) said Hongkong Land (SGX: H78) saw positive rent reversion in its office portfolios in Hong Kong and Singapore.
It also said four of the five Daily Farm International (SGX: D01) divisions performed well, which helped to offset continuing softness in the supermarket sector.
But it was a mixed bag for Jardine C&C (SGX: C07) in the first quarter. While financial services, mining and construction fared well, there was lower contribution from its interests in companies not associated with its investment in Indonesia’s Astra International.
On the economic front, the Federal Reserve is expected to cut interest rates. The only question is whether the reduction will be a quarter or half percent. The Fed reckons that the cut is a necessary insurance against a slowdown in global economic growth, which ironically has been caused by America.
The Bank of Japan will also deliver its latest interest decision. It should keep it unchanged at -0.1%.
And finally, for what it’s worth, the Sino-US trade talks will resume on Tuesday. The ongoing saga between China and the US has dragged on for around a year without any sign of progress. The blame game could continue.
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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 owns shares in DBS Group, UOB, OCBC, Jardine Matheson, Jardine Strategic, Jardine C&C, Dairy Farm, Hongkong Land and Ascendas REIT. The Motley Fool has recommended DBS, OCBC, UOB, Dairy Farm and Hongkong Land.