Asian markets ahead of China’s key economic data

Singapore’s non-oil domestic exports fell 15.5% year-on-year in June, the ninth consecutive month such exports fell.

That was a deeper drop than the 14.8% drop reported in May, but slightly less than the 15.8% drop expected by economists polled by Reuters.

Enterprise Singapore is an enterprise development company in Singapore He elaborated Domestic non-oil exports declined as exports to Malaysia, Indonesia and South Korea fell, although exports to Hong Kong and China increased.

– Lim Hui Jee

According to Berenberg, shares of venture capital funds focused on the high-growth technology sector could rise by more than 180%.

The bank’s analyst said even if the VC fund’s portfolio experienced no growth and was valued at a 20% discount to its peers, it would still represent a 54% upside.

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– Ganesh Rao

UBS has named a raft of US and global stocks expected to beat a major index in 2023, describing it as a year of „inflection points.”

The stock picks are its „high confidence” names, and the list aims to beat the MSCI All-Country World Index, the Swiss bank said in a July 11 research note, „not shying away from taking some contrarian positions.”

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– Lucy Handley

In the Group of 20 countries, inflation has peaked. According to International Monetary Fund. However, in most G20 countries, especially in advanced economies, core inflation is well above central banks’ targets.

„There are some early signs of monetary policy action in the fight against inflation, with the tightening of bank lending standards in the euro area and the US. Policymakers should avoid 'premature celebrations’: the lessons of previous deflationary events show that too soon easing policy can undo the progress in inflation,” the IMF managing director said. Kristalina Georgieva wrote in a note on Friday.

The IMF predicts that global growth will slow to about 3% over the medium term, down from the historical average of 3.8% from 2000 to 2019.

– Hakyung Kim

The International Monetary Fund said China’s growth is slowing due to weak private investment and a slowdown in exports and falling domestic demand.

Spokesperson of the organization Julie Kozak told a conference„The pace of growth has been slowing in China recently, largely due to weaker-than-expected private investment,” pointing to a recent decline in exports after seeing a strong performance in the first quarter of the year.

„The overall picture for China’s growth is one of a slower economy, and this is consistent with the forecast we had in April,” the „updated forecast” for China will reflect in the IMF’s next World Economic Outlook.

– Jihye Lee

Stocks could continue to gain momentum in the coming week as traders turn their attention to earnings results after last week’s soft inflation news.

Key benchmarks headed for a positive week on Friday after boosting consumer and headline inflation in June and confirming the possibility that the Federal Reserve is nearing the end of its rate hike campaign. Traders see a 95% certainty of a Federal Reserve hike at the central bank’s July meeting. CME Group’s FedWatch tool. 81% of them are sure the central bank will stand by in September.

„I think the Fed is locked in for another hike,” said Rob Williams of Sage Advisory. „But given these inflation data, I think they’re one and done.”

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– Sarah Min

A third of the 32 stocks in the S&P 500 that hit new 52-week highs on Friday are trading at all-time highs. Three of the 32 (JPM, V, CRM) are also in the Dow Jones Industrial Average. The highest number of house builders ever. And then there’s Nvidia, of course:

• Netflix is ​​trading at the highest since February 2022
• Booking Holdings trades at record highs since 1999 IPO
• TR Horton’s all-time high until 1992 IPO
• Lennar hit an all-time high when it began trading in 1971
• PulteGroup traded all the time until its IPO in 1972
• CBOE Holdings hit all-time high until 2010 IPO
• Intercontinental Exchange, maximum after April 2022
• JPMorgan (JPM), highest since February 2022
• Moody’s, highest after February 2022
• S&P Global, highest since April 2022
• Visa, maximum after August 2021
• Refurbishing technology, maximum after April 2022
• Cooper Institutions, maximum after April 2022
• DexCom, maximum after December 2021
• IDEXX Laboratories, highest since April 2022
• Intuitive Surgery, Jan. Maximum after 2022
• Steris, maximum after June 2022
• Cobart hit an all-time high until its 1994 IPO
• Moscow, maximum after February 2022
• Rollins Inc., 1968 High since trading began
• Adobe, no later than February 2022
• Ansis, Jan. Maximum after 2022
• Cadence Design Systems has been around since its predecessor, ECAD, went public in 1987
• Salesforce.com, at most after February 2022
• Fortinet hit an all-time high until its 2009 IPO
• Gartner, maximum after November 2021
• ServiceNow, after March 2022 at the latest
• Nvidia’s highest since its 1999 IPO
• In semiconductors, the highest volume since the 2000 IPO
• Teratyne, maximum after April 2022
• Sherwin-Williams, maximum after June 2022
• Jan. Max Equinix after 2022

Meanwhile, five stocks in the S&P 500 fell to 52-week lows on Friday, with none set, although AT&T hit a 20-year low:

– Scott Schnipper, Christopher Hayes