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HKD/SGD News
Singapore's Unemployment Rate Edges Up to 2.1% in Q1
Singapore's unemployment rate rose to 2.1% in the first quarter of 2024 from 1.8% in the year-ago period, preliminary data from the Ministry of Manpower on Thursday showed.
Singapore Employment Rose in First Quarter
Singapore's employment rate in the first quarter rose but continued losing momentum.
Hong Kong Census and Statistics Department: In the first quarter, the total income of Hong Kong residents increased by 9.6% year-on-year to 831 billion Hong Kong dollars.
In the first quarter of 2024, the total income of Hong Kong local residents (referring to the total income earned by Hong Kong residents through various economic activities) calculated at the then market price increased by 9.6% to HKD 831 billion, compared to the same period last year.
Hong Kong Exchanges and Clearing Limited has proposed five policy recommendations to promote the dual growth of liquidity and efficiency in Hong Kong's capital markets.
According to the Zhongtong Finance APP, on June 17th, Hong Kong's Financial Services and the Treasury Bureau released a research report entitled "Promoting Dual Growth of Liquidity and Efficiency: Optimizing Hong Kong's Securities Trading Mechanism and Market Operations".
Hong Kong's High Interest Rates May Persist Due to Uncertainty of Fed Rate Cuts
The Hong Kong Monetary Authority said high interest rates may remain for some time as it is uncertain when the US Federal Reserve will cut its interest rates, according to a Thursday press release by
Chung Yuan Mortgage: The interest rate reduction cycle in Hong Kong may start from the end of this year to the first quarter of next year.
Wang Meifeng said that the interest rate reduction cycle in Hong Kong has the opportunity to start from the end of this year to the first quarter of next year, and then the interest rate in Hong Kong may fall to 4% or below.
Hong Kong's Business Activity Contracts in May
Business activity in Hong Kong contracted once more in May after improving in March and April due to a fall in new orders and export conditions, according to data from S&P Global released Wednesday.
Hong Kong PMI Indicates Downturn in Business Conditions -- Market Talk
0121 GMT - The latest S&P PMI data for Hong Kong looks bleak, indicating a worsening of business conditions in the private sector in May. The headline PMI slid to 49.2 in May from 50.6 in April, signa
Singapore PMI Signals More Private-Sector Expansion -- Market Talk
Singapore's private-sector expansion accelerated midway into 2Q, the latest S&P PMI data signals.
SGD Strengthens Slightly Amid Risk-on Sentiment -- Market Talk
SGD strengthens slightly against the USD during the Asian session amid risk-on sentiment spurred by gains across regional equity markets after U.S. April core PCE price index released Friday was in line with market expectations.
Singapore Manufacturing Still Poised for Fragile Recovery -- Market Talk
Singapore's manufacturing sector remains poised for a fragile recovery this year, despite another drop in output in April, DBS economist Chua Han Teng says.
Singapore Inflation Outlook Seems Balanced -- Market Talk
Singapore's inflation outlook seems balanced, OCBC's Selena Ling says in a note after headline and core CPI last month held steady in April.
Singapore's Inflation on Track to Cool This Year -- Market Talk
Singapore's steady core inflation in April after a bumpy 1Q backs DBS's view that inflation will continue to cool and average lower in 2024 than last year, economist Chua Han Teng says in a note.
Singapore's GDP Growth Has Room to Strengthen in 2H -- Market Talk
Singapore's economic growth looks set to strengthen in 2H, UOB's Global Economics & Markets Research team says in a note.
Singapore's Economy on Track as Inflation Steadies, Trade Improves -- Update
SINGAPORE--Singapore's economy looks on track for a strong year, with hopes underpinned by better-than-expected growth, steadying inflation and improving trade.
Singapore Core Inflation Rate Holds Steady at 3.1% in April
Singapore's core inflation rate was unchanged in April from the prior month, giving the central bank room to wait and watch amid risks to economic growth from geopolitical tensions and diverging global monetary policy paths.
Singapore Inflation Data to Be Watched for Signs of Sticky Pressure -- Market Talk
Singapore inflation data for April is in focus, as markets look to see if inflation is tracking toward the central bank's comfort zone.
Singapore's Economy Grew at Faster Pace in First Quarter
Singapore's economy grew at a faster pace in the first quarter of 2024, as growth in sectors such as construction, wholesale trade, and retail trade overcame contraction in the manufacturing sector.
Singapore's Consumer Price Growth Likely Steady in April, WSJ Poll Shows -- Market Talk
Singapore's consumer prices likely rose 2.7% on year in April, according to the median estimate of nine economists surveyed by The Wall Street Journal.
The HKD interest rate rose above 4% across the board for three consecutive trading days
On May 21, the HKD interest rate rose across the board for three consecutive trading days. Among them, the overnight interest rate rose above 4% to 4.06226%, reaching a new high of more than two weeks.