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Need 4 Speed Read - ASX Report - 08/11/22

ASX Trading

G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst! 

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Trading Idea of the Day


NYSE:PDD - Pinduoduo Inc - BULLISH BIAS

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • The company is pioneering what it calls a feed-based shopping experience where users are presented with a social media-like feed where they can discover products they may not have known they wanted.
  • However, this should be approached with some caution. As the impacts of the economic slowdown are felt among China’s population, consumer spending won’t be as frivolous. Consumers will no longer be looking for what they may want, as their primary concern will be only what they need.
  • While COVID-19 lockdowns and tougher economic conditions lead to a shaky start to 2022, the company saw a recovery in consumer sentiment in the second quarter, notably during the 618 shopping festival, a sign that consumer spending can be somewhat resilient even in trying times.
  • This is optimistic for the time being, but investors should be wary of consumer sentiment deteriorating if the macroeconomic impacts linger for the near future.

ASX & Economic Key Events


ASX Key Events Calendar (TODAY)

Economic Key Events (TODAY)

Economic Key Events (YESTERDAY)

OPTO For Investors Research


Article of the Day: Apple valued more than Amazon, Alphabet and Meta combined

Podcast of the Day: Portfolio manager Michael Kao’s dollar wrecking ball theory

APAC Daily Report


Market Snapshot & Highlights as of 7:30am AEDT


EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials HIGHER on overall higher base metal prices.

Global Markets Headlines
 

(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)


Disclaimer: CMC Markets Singapore may provide or make available research analysis or reports prepared or issued by entities within the CMC Markets group of companies, located and regulated under the laws in a foreign jurisdictions, in accordance with regulation 32C of the Financial Advisers Regulations. Where such information is issued or promulgated to a person who is not an accredited investor, expert investor or institutional investor, CMC Markets Singapore accepts legal responsibility for the contents of the analysis or report, to the extent required by law. Recipients of such information who are resident in Singapore may contact CMC Markets Singapore on 1800 559 6000 for any matters arising from or in connection with the information.

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