Week Ahead: 20 Jan, 2025
·
A softer CPI report, combined with strong bank
earnings and robust results from TSMC, helped U.S. stock markets rebound from
their recent lows. In the coming weeks, earnings reports from the tech sector
will be closely watched.
·
Meanwhile, reports of potential gradual tariff
adjustments on China by the incoming Trump administration supported a recovery
in Greater China equity markets after a week of sell-offs. However, caution
remains due to recent Chinese economic data.
·
Trump’s inauguration, along with his initial
policy decisions and tech sector earnings (as shared earlier), will be key
events to watch in the coming weeks.
Medium Term:
·
S&P 500 (SPX): The S&P 500 traded
back within the 5832-6100 range. We maintain a neutral stance on the index's
direction.
·
The index needs to remain above the key
technical support level of 5780-5832 to sustain its bullish momentum.
·
Straits Times Index (STI): The STI traded
within the 3,700-3,850 range during the week. We continue to closely monitor
demand and supply dynamics to assess potential directional moves.
·
Hang Seng Index (HSI): The China A50
Index (grey line) continues its upward trend.
·
The Hang Seng Index (candlestick) has rebounded
above the 61.80% retracement level of the recent rally. We are closely
monitoring for further positive technical signals to confirm a reversal of the
current short-term downtrend.
Long Term:
·
S&P 500 (SPX) trend remains upward
·
Hang Seng Index (HSI) trend remains
upward
·
Straits Times Index (STI) trend neutral
to upward trend.
Headlines Next Week:
- US Corp Earnings: Netflix, Charles Schwab, P&G, J&J, Abbott, General
Electric, Texas Instruments, American Express
- US Corp Earnings: SG REITs
- US Trump’s
Inauguration, S&P PMI Surveys
- China LPR
Fixing
- SG CPI,
Ind Prod, MAS Policy
Disclaimers
apply