Think Thursday

Ranora Daily - Your daily source for reliable market analysis and news.

July 13, 2023

Market Data

Local

Global

*Data as of 6pm WAT

Market News

Local

Global

Weekly Investment Watchlist

Market Commentary

Asia and Australia

  • The Reserve Bank of New Zealand held rates steady as expected at 5.5%

  • Japan’s Core machinery orders fell 7.6% m/m in May, notably weaker than expectations of a 1.0% rise and falling back from 5.5% growth in the previous month.

  • In a speech, RBA Governor Lowe said it remains to be determined whether more rate hikes are needed, though this will depend on the evolution of the economy and inflation.

  • Chinese auto sales grew 9.8% in the first half, helped by a low base

  • Thai Court to decide if PM candidate Pita should be disqualified as a lawmaker in blow to democratic parties.

  • China lending is stronger than expected with new loans increasing to CNY3.05T in June, above consensus, CNY2.34T and following CNY1.36T in the previous month.

Europe, Middle East, Africa

  • Previews for the Q2 reporting season broadly expect it to be mixed. Refinitiv data forecasts Q2 Stoxx 600 earnings to decrease 8.3% from Q2'22, but ex-Energy sector, earnings are seen increasing by 4.4%.

  • Italy to request more post-COVID funds from EU despite payment delay

  • BoE Governor Bailey Bailey appeared to signal more rate hikes at the Financial Stability press conference.

The Americas

  • Judge’s ruling that Microsoft can close Activision deal could spur more M&A

  • Global PC shipments fell 12% in Q2, an improvement from the 30% decline in the past two quarters

  • Disney exploring options to sell or find a joint venture partner for its India digital and TV business

  • US consumers planning double-digit cuts to their budgets for back-to-school supplies

  • Businesses are starting to cut workers’ hours, forcing hundreds of thousands of people into part-time roles, in what could be an early warning sign for the economy.

The Week Ahead:

  • Wednesday:

    • US Consumer price index - 3.00%

    • US Core CPI

  • Thursday:

    • US Initial jobless claims.

    • US Producer price index.

    • US Federal budget.

  • Friday:

    • US Consumer Sentiment.

Investment Tip of The Day

Assess the historical performance, financial stability, and growth potential of a company before investing in its stocks. Conduct thorough fundamental analysis and evaluate key metrics such as revenue, earnings, and debt levels.

Meme of the Day

Disclaimer: The information contained in this report is intended for informational purposes only and should not be considered as investment advice. The information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed.