We are at the tail end of the Singapore blue-chip earnings season. Just a couple more companies to go before the curtains can come down.
Singtel (SGX: Z74) is the only Straits Times Index company pencilled in for first-quarter results. In May, Singapore’s largest telecom company posted a 2% drop in full-year profit. It also took S$302 million exceptional charge for its Indian associate Bharti Airtel.
On the economic front, the initial jobless claims in the US will be scrutinised for signs that the jobs recovery could be gaining pace. The most recent data showed that the number of American filing new claims for unemployment dipped below 1 million for the first time since March.
China will announce its latest interest-rate decision. In July, the People’s Bank of China left its benchmark rate unchanged for the third straight month. It could hold the one-year loan prime rate at 3.85% again in August....