Asian investors are digesting a mixed US jobs report released on Friday. The rate for the jobless category dropped to 16-year lows at 4.2% in September, with wage gain of 0.5% – both beating market expectations.

Strong wage growth and decade-low unemployment rate helped to underpin disappointing non-farm jobs data, which dropped -30k due to major disruption brought by Hurricane Harway and Irma last month.

The likelihood of a December rate hike, according to CME’s FedWatch tool, has gone up to above 92% last Friday. The US dollar index fell from a two-month high of 94.1 to around 93.6 this morning, as the market is still digesting the jobs data.

EUR/USD rebounded to 1.173 area after testing immediate support level of 1.168 (78.6% Fibonacci extension). Technically its 10-Day Moving Average line and SuperTrend (10,2) are both trending downwards, suggest downtrend momentum prevails.

US indices hovered around record levels after the release of jobs data last Friday. Investors are waiting for the third quarter earnings season to support the recent rally and stocks’ rich valuation. The S&P 500 index consolidated near record high of 2,550 points as President Trump twitted that there is only “one way to resolve” the North Korea Nuclear threat, which was widely suspected to be the ‘military option’.

In Singapore, the Straits Times Index is facing some selling pressure at the technical resistance level of 3,300. Investors are also waiting for the earnings season to kick off this Wednesday to paint a clearer picture of outlook. This Friday’s advanced GDP data is also critical to Singapore’s stock market movement in the weeks to come. The STI has underperformed major developed markets over the last two months due to lack of positive surprises. Strong earnings and economic data are needed to wake up market participants in the fourth quarter.

NameTickerDateTimePeriodEstimate
Singapore Press Holdings LtdSPH SP10/11/2017 Y 170.146
Singapore Exchange LtdSGX SP10/19/2017 Q1 180.09
Keppel Corp LtdKEP SP10/19/2017 Q3 170.105
CapitaLand Commercial TrustCCT SP10/20/2017Bef-mktQ3 17 
Ascendas Real Estate Investment TrustAREIT SP10/20/2017 Q2 18 
CapitaLand Mall TrustCT SP10/20/2017Aft-mktQ3 170.029
Hutchison Port Holdings TrustHPHT SP10/24/2017 Q3 170.041
Oversea-Chinese Banking Corp LtdOCBC SP10/26/2017Bef-mktQ3 170.235
Sembcorp Industries LtdSCI SP10/27/2017 Q3 170.043
DBS Group Holdings LtdDBS SP10/31/2017 Q3 170.448
StarHub LtdSTH SP11/2/2017 Q3 170.044
Singapore Airlines LtdSIA SP11/3/2017 Q2 180.09
Genting Singapore plcGENS SP11/3/2017 Q3 170.01
United Overseas Bank LtdUOB SP11/3/2017 Q3 170.488
Global Logistic Properties LtdGLP SP11/8/2017 Q2 180.014
Jardine Cycle & Carriage LtdJCNC SP11/8/2017 Q3 17 
Yangzijiang Shipbuilding Holdings LtdYZJSGD SP11/8/2017 Q3 170.14
CapitaLand LtdCAPL SP11/9/2017 Q3 170.045
UOL Group LtdUOL SP11/10/2017 Q3 170.113
SATS LtdSATS SP11/10/2017 Q2 180.053
ComfortDelGro Corp LtdCD SP11/10/2017 Q3 170.035
Singapore Technologies Engineering LtdSTE SP11/10/2017 Q3 170.04
City Developments LtdCIT SP11/10/2017 Q3 170.13
Wilmar International LtdWIL SP11/10/2017 Q3 170.06
Singapore Telecommunications LtdST SP11/10/2017 Q2 180.059
Golden Agri-Resources LtdGGR SP11/14/2017 Q3 170.002
Thai Beverage plcTHBEV SP11/17/2017 Y171.08

 

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