U.S – China Trade Talks

U.S – China trade talks will also need monitoring. Tensions between the U.S and China have risen of late for a number of reasons. Hong Kong, COVID-19, and the hacking of U.S tech companies are amongst a lengthening list. U.S negotiators may turn the screw and attempt to rein China in. Trump’s need to distract the markets from COVID-19 will be another reason to make the trade talks explosive – Thursday early morning 2am is FOMC – EXPECT HUGE VOLATILITY FOR both Stocks & Currencies market.

EARNINGS FROM LOCAL MARKET

Most companies in the Philippines have report disaster earnings and the latest being SSI – High-end specialty retailer SSI Group Inc. (SSI) sank into the red in the second quarter as sales plunged over the coronavirus pandemic. In a statement, SSI said it incurred a P476 million net loss in April to June, a reversal of the P346 million profit booked in the same period last year. Sales plunged 85% to P742.78 million from P4.95 billion due to the temporary closure of substantially all its stores from March 17 to May 15 in line with the government’s stay-at-home order to curb the spread of COVID-19.

In the six months to June, SSI incurred a P476.3 million loss versus a P345.9 million net income the previous year. Since reopening on June 1, the group has seen steady increases in weekly sales. It has also seen a 375% percent surge in e- commerce sales in the first half.

“I am optimistic with respect to the steady increases we have seen in brick and mortar sales and that we are ready to compete and operate under the “new normal.” We are also focused on building out what is already the most diverse e-commerce presence amongst local specialty retailers, into a world class e-commerce portfolio,” said Anthony T. Huang, president of SSI. Huang said the group has scaled down its capital spending this year amid the tough business environment.The group has nine e-commerce sites, bananarepublic.com.ph, beautybar.com.ph, dunelondon.ph, gap.com.ph, lacoste.com.ph, lush.com.ph, payless.com.ph, superga.ph and zara.com/ph. As of June 30 this year, the group had 95 brands in its portfolio. (Bilyonaryo).

WHAT IS THE TECHNICAL CHARTS SAYING? GOLD, OIL, DOW, SP500

KEY TAKEAWAYS

  • We are cautious of buying Gold & Oil; this week Wednesday is FOMC & we can expect massive volatility for Gold & Oil
  • We don’t see light yet without any vaccine ahead of us
  • COVID-19 is already causing most companies in the red and the worst is not over yet – with worst case GDP, RECESSION, STIMULUS and etc are all at the highest
  • We remain cautious this week as many have warn that the market is in the balloon for an explosion

WHAT ABOUT THE PSEI?

KEY TAKEAWAYS

  • PSEI is at the tipping point; we expect bearish movement this week
  • Earnings across the board for most companies are a disaster
  • We don’t see any changes to the economy environment as bullish yet
  • The global market is in the ballon;
  • We only stick to good companies with good future earning and buying at cheap P/E Valuation.
  • We will stay out of Day Trading for now and focus only Fundamental based Companies

FINWAZE TEAM – MANG MATEO (JOIN OUR FACEBOOK – https://www.facebook.com/mang.mateo

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