Markets Overview

类型：投资策略机构：大华银行有限公司研究员：大华银行研究所日期：2016-05-10

Today’s data docket in the developed economies is relativelylight. In the U.S, we only have labor market conditions index(LMCI), something the market will pay a closer look after lastFriday’s big miss on the jobs report, together with mortgagedelinquencies and foreclosures. Elsewhere, we haveJapan’s labor cash earnings (Mar) and consumer confidence(Apr), Australia’s ANZ job advertisements (Apr), Germanfactory orders (Mar), UK’s Halifax house prices (Apr), andEurozone’s Sentix investor confidence (May).

    Most of Asia resumes a normal business week aftervarious public holidays regionally over the entire previousweek. Indonesia, Thailand and South Korea return fromFriday holiday. The focus this week will be on theChinese economic data and 1Q16 GDP data in Malaysia(Bloomberg: 4.1% y/y; 4Q15: 4.5%) and Hong Kong(Bloomberg: 1.5%; 4Q15: 1.9%) this Friday.

    Following China’s April trade data on Sunday (8 May), wewill be getting China’s April CPI & PPI data on Tuesday (10May) and the April industrial production (IP), April retail sales& fixed assets investment all on Saturday (14 May). China isalso poised to release its April FDI data between 8-12 Mayand April new CNY loans, April aggregate financing loans &money supply data from Tuesday onwards.

    This is another light data week for Singapore with Aprilforeign reserves data scheduled today while the March retailsales data will be released on Friday the 13 May.

    For today, Taiwan’s April trade data will be out at 4 pmSG time. Consensus is expecting export contraction of -8.0% y/y (Mar: -11.4%) and import contraction of -8.8% y/y (Mar: -17.0%). The rest of the Asian data docket includesIndonesia April foreign reserves (10 May), South Korea Aprilunemployment rate (11 May), Philippine March exports data(11 May), South Korea March money supply & April banklending to households data (12 May), Malaysia March IP &manufacturing production data (12 May), India April CPI &March IP (12 May) and Thailand’s May foreign reserves data(13 May).

    Voting in Philippines Presidential election today anddomestic markets will be closed. Opinion polls showDavao city Mayor Rodrigo Duterte leading over fourother candidates.