Markets Overview

This week, overwhelming attention will be on the USPresidential elections on Tuesday (8 Nov). Typically, theresults are expected to be announced by 11:00pm US EastCoast time (9 Nov, 12 noon Singapore time) once there isa clear winner with the magic number being 270 electoralvotes. We think that a Clinton presidency will provide a“business-as-usual” outcome but a Trump presidencycould almost certainly lead to increased risk aversion in thefinancial markets as what we witnessed in the past week.

    Today, the data docket is limited, only receiving Germanfactory orders (Sep), U.K house prices (Oct) and U.S labormarket conditions index (Oct).

    It will be a busy week in Asia as we get various key ChineseOct data while Indonesia (7 Nov), Malaysia (11 Nov) andHong Kong (11 Nov) will announce their respective 3Q GDPwith growth likely leaning towards a more moderate pace.

    Indonesia’s 3Q GDP scheduled today is expected tomoderate to 5.08% y/y from 5.18% in 2Q, according toBloomberg’s consensus forecast. Taiwan’s Oct trade datais due at 4 pm today with consensus looking for strongerexports on the back of seasonal demand for technologygoods and activities picked up after Typhoon Megi in Sep.

    In China, the deluge of Oct data begins on Tue with tradenumbers, followed by CPI and PPI on Wed. Weaker-thanexpectedexport data may increase pressure on the CNY.

    Money supply and new loans data will be out from Thuronwards.

    In Singapore, October foreign reserves data (7 Nov) and aCOE auction (9 Nov) are scheduled this week.