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English translation

Hi Everyone, I m Eric Oh, Financial Services Manager from Phillip Securities.

On Wednesday, we see regional stocks rally after the FED signal it will maintain its stance of 3 interest rate cut this year which is aligned with market expectations.

Powell said the timing of those reductions still depends on officials becoming more secure that inflation will continue to decline towards the Fed's 2% target even as the economy continues to outperform expectations.

The Fed also left interest rates unchanged and released new quarterly economic projections that showed officials now expect the economy to grow 2.1% this year, above what's considered the U.S. economy's long-run potential and a substantial upgrade from the 1.4% growth seen as of December. 

Concurrently, the unemployment rate is only expected to hit 4% by the end of 2024, barely changed from the current 3.9% level.

Another important news this week is when Japan's central bank has raised the cost of borrowing for the first time in 17 years. The Bank of the Japan (BOJ) increased its key interest rate from -0.1% to a range of 0%-0.1%. 

Risk asset may continue to see upside potential but may not be suitable for speculation in the short term as volatility may increase due to sudden, unexpected geopolitics, conflicts or negative news. 

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Wishing all a healthy, meaningful and prosperous Lunar New Year ahead 2024

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29 Sep 2023 FM 96.3 radio sharing

My english translation for today radio sharing on FM 96.3 on my views and insights on the markets: 🙂

Hi Everyone, I m Eric Oh, Financial Services Manager from Phillip Securities.

In this radio sharing, let’s talk about the US market first. The potential federal government shut down that may occur next week may cause the credit rating agencies to downgrade US credit grade. This potential downgrade underscores the weakness of US institutional and governance strength.

Another important release on 26 September showed the drop in US consumer confidence to 103 in September from 108.7 in August. This measure reflects how consumers view the overall economy, business conditions, and labour market presently and over the next six months which could be due to persistent worries on higher prices and rising fears of recession.

As a result, this may lead to potential increased volatility in the market. Another area is the US high oil price WTI which has surged more than 30% since end June from $70 which could cause the Fed to maintain the higher interest rate for longer stance. Hence the above factors may have reduced the risk appetite of many investors.

As such amid the increased volatility seen in current market conditions, one should adopt a long-term perspective when investing to avoid ditching their current investment plan when volatility increases.

If you have any enquiries or wish to seek professional advice with regards to stock market and investment, kindly contact me at my Facebook Ericwealthadvisory or mobile 90685256. Thank you and wishing everyone a joyous Mid-autumn festival.

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