Highlights

Affin Hwang Capital Research Highlights

Author: kltrader   |   Latest post: Tue, 17 Nov 2020, 5:57 PM

 

Global News 21 October 2020

Author:   |    Publish date:


US Stocks Rise as Lawmakers Haggle Over Stimulus

US stocks rose even as lawmakers remained unable to clinch a fresh aid package to bolster the economic recovery. The dollar weakened. The S&P 500 rose by 0.47% to 3,443.12 while Dow Jones was up 113.37 points (0.40%) to 28,308.79.

Pelosi, Mnuchin Move Closer to Stimulus Deal Amid Senate Doubts

House Speaker Nancy Pelosi said she’s hopeful for a stimulus agreement this week, which would be crucial to getting a bill passed by Election Day, although Senate Majority Leader Mitch McConnell has warned the White House against a bigger Pelosiled deal before Nov. 3. “That’s the plan. That’s what I would hope,” Pelosi said about reaching a compromise this week.

US Housing Starts Increase Amid Shift to Single-family Homes

US new home starts increased in September on a sharp gain in single-family house construction while building permits climbed, indicating residential building had plenty of momentum at the end of the third quarter. Residential starts increased 1.9% to a 1.42 million annualized rate from a month earlier, according to a government report. Applications to build, a proxy for future construction, rose 5.2% to a 1.55 million rate, the fastest since 2007 and topping forecasts.

ECB’s Lagarde Says Virus Resurgence Is a Clear Risk to Economy

European Central Bank President Christine Lagarde said the unexpectedly early pickup in coronavirus infections is a “clear risk” to the economic outlook, in a sign that policy makers are gearing up for more monetary stimulus. “Most scientists in the euro zone were expecting the resurgence of the epidemic in November or December, with the cold,” Lagarde said.

China Leisure Spending Remains a Drag on Rebounding Economy

China’s hotels and restaurants, one of the hardest-hit industries in the economy during the coronavirus pandemic, remained a significant drag on growth in the third quarter even as the recovery steadily gains momentum. The sector contracted 5.1% from a year ago, the statistics bureau said in a supplemental report on gross domestic product, an improvement from the 18% decline in the second quarter. For the first nine months of the year, output was down 19.1% compared to the same period in 2019.

BOJ Considers Changing Inflation Forecasts Over Travel Program

The Bank of Japan is likely to consider changing its inflation forecasts to reflect the short-term impact on prices of a government travel campaign at its policy meeting next week, according to people familiar with the matter. The central bank will probably discuss cutting its price projection for the year ending in March to account for the downward price pressure of Prime Minister Yoshihide Suga’s Go To Travel campaign, the people said.

Thai Central Bank Chief Signals Support Amid Uneven Recovery

Bank of Thailand’s new governor said he’s looking into new measures to boost the economy as it faces a long and uneven road to recovery from the coronavirus pandemic. The policy response to the economic crisis should be long term, factoring in challenges likely to arise over the next two years, Governor Sethaput SuthiwartNarueput told reporter.

Oil Climbs While US Lawmakers Discuss a Potential Aid Package

Oil advanced in New York as US lawmakers negotiated the size of a potential spending bill to boost economic recovery, presenting a rare bright spot for the demand outlook. Brent crude for December settlement declined by US$0.54 to US$41.70 per barrel.

Source: Affin Hwang Research - 21 Oct 2020

Share this

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View Trading Signals and run Live Backtest
MQ Affiliate
Earn rewards with MQ Affiliate Program
 
 

241  924  499  511 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 AT 0.155-0.015 
 PHB 0.030.00 
 SAPNRG 0.115-0.005 
 VIVOCOM 0.855-0.365 
 KANGER 0.18-0.015 
 PA 0.145-0.005 
 MTRONIC 0.105-0.01 
 KGROUP-WC 0.020.00 
 XDL 0.07-0.005 
 ARMADA 0.27-0.005 

FEATURED POSTS

1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
PARTNERS & BROKERS