27 July 2021 Daily Market Overview United States Europe United Kingdom Japan China Hong Kong Singapore Australia Equity S&P 500 Euro STOXX 50 FTSE 100 Nikkei 225 Shanghai Composite Hang Seng Index Straits Times Index ASX 200 Level 4,422.30 4,102.59 7,025.43 27,932.08 3,456.36 26,024.64 3,160.32 7,424.00 Day Change (%) ▲0.24% ▼0.16% ▼0.03% ▲0.35% ▼0.32% ▼0.64% ▲0.68% ▲0.40% Currency DXY EUR GBP JPY CNY HKD SGD AUD Level 92.621 1.1802 1.3823 110.22 6.4764 7.7768 1.3582 0.7376 Day Change (%) ▼0.03% ▲0.00% ▲0.04% ▲0.17% ▲0.10% ▲0.02% ▲0.01% ▼0.11% Government Bonds 10-year Treasury 10-year Bund 10-year Gilt 10-year JGB 10-year Bond 10-year Bond 10-year Bond 10-year Bond Yield 1.28% -0.42% 0.57% 0.02% 2.89% N.A 1.33% 1.20% Day Change (bps) ▼0.50 ▲0.20 ▼1.30 ▲0.90 ▲0.90 N.A. ▼3.21 ▲1.60 Key Global Benchmarks Government Bonds Yield Day Change (bps) Currencies Level Day Change (%) Commodities Price Day Change (%) 2 yr US Gov 0.211% ▲1.73 GBPUSD 1.3823 ▲0.04% Gold 1,797.26 ▼0.02% 2 yr EU Zone -0.733% ▼0.70 EURUSD 1.1802 ▲0.00% Silver 25.14 ▼0.22% 2 yr UK Gov 0.080% ▲0.10 EURGBP 1.1712 ▼0.04% WTI Crude Oil 72.12 ▲0.28% 2 yr JP Gov -0.129% ▼0.90 USDJPY 110.22 ▲0.17% Brent Crude Oil 74.83 ▲0.42% 2 yr CN Gov 2.402% ▲0.00 USDCNY 6.4764 ▲0.10% Bitcoin 36,993.31 ▼2.31% 2 yr HK Gov -0.007% ▼0.71 USDHKD 7.7768 ▲0.02% Copper 458.90 ▲4.14% 2 yr SG Gov 0.360% ▼0.80 USDSGD 1.3582 ▲0.01% Palladium 2,627.50 ▼1.89% 2 yr AU Gov 0.041% ▼0.20 AUDUSD 0.7376 ▼0.11% Platinum 1,068.70 ▲0.86% World Indices World Indices Level Day Change (%) WTD (%) MTD (%) YTD (%) MSCI World 3,080.41 ▲0.26% ▲0.26% ▲2.09% ▲14.51% MSCI USA 4,306.08 ▲0.18% ▲0.18% ▲2.92% ▲17.40% MSCI EM 1,279.99 ▼2.39% ▼2.39% ▼6.89% ▼0.87% MSCI China 94.90 ▼5.61% ▼5.61% ▼13.66% ▼12.60% Currency Performance Currencies Level Day Change (%) WTD (%) MTD (%) YTD (%) Dollar Index 92.62 ▼0.03% ▼0.32% ▲0.20% ▲2.98% Pound Index 686.52 ▲0.02% ▲0.39% ▲0.12% ▲3.09% Euro Index 914.11 ▼0.03% ▲0.08% ▼0.55% ▼2.77% Asia Dollar Index 107.52 ▲0.07% ▲0.02% ▼0.67% ▼1.64% Bonds Yields Bond Indices Level Day Change (bps) WTD (bps) MTD (bps) YTD (bps) US Govt 30 Year 1.94% ▼0.59 ▲2.08 ▼14.98 ▲29.10 Euro Govt 30 Year 0.06% ▲0.30 ▲0.30 ▼22.60 ▲22.20 UK Gilts 30 Year 0.99% ▼1.40 ▼1.40 ▼24.30 ▲24.10 Japan Govt 30 Year 0.65% ▲0.40 ▼0.80 ▼3.80 ▲0.10 Headlines 1) Tesla Results Beat in Q2 Amid Record Deliveries, Cost Cuts 2) Apple, Microsoft, Alphabet Earnings: 3 Things to Watch 3) Bitcoin Surge, China Tech Onslaught, Tesla Earnings - What's Moving Markets 4) Asia stocks hit seven-month low as China skids, funds favour Wall Street 5) Bitcoin Tops $40K, but Lack of Blockchain Activity May keep Lid on Gains 6) TAL Education, Tencent Music, Lockheed Fall Premarket; Hasbro Rises 7) S&P 500 Notches Record as Investors Eye Big Tech Earnings 8) Wall Street Mixed at Open as China, Covid Fears Dominate; Dow Down 20 Pts 9) European Stock Futures Lower After China's Latest Attack on Tech 10) S&P 500 Hovers at Record Highs Ahead of Tech Earnings, Fed Economic Calendar Event Column1 Column2 Country Date Time (SGT) Impact Forecast Previous CB Consumer Confidence United States 27-Jul-21 10:00 PM High 124.2 127.3 CPI q/q Australia 28-Jul-21 09:30 AM High 0.70% 0.60% Trimmed Mean CPI q/q Australia 28-Jul-21 09:30 AM High 0.50% 0.30% CPI m/m Canada 28-Jul-21 08:30 PM High 0.40% 0.50% FOMC Statement United States 29-Jul-21 02:00 AM High FOMC Press Conference United States 29-Jul-21 02:30 AM High Advance GDP q/q United States 29-Jul-21 08:30 PM High 8.50% 6.40% GDP m/m Canada 30-Jul-21 08:30 PM High -0.40% -0.30% Core PCE Price Index m/m United States 30-Jul-21 08:30 PM High 0.60% 0.50% *US, EU and UK index data as of last night close, all other data as of 10am SG Time. Source: Bloomberg, ForexFactory, Investing.com 1 Equity Markets Top Movers CNY HKD SGD % US, EU, UK Market Data as of last night's close. Source: Bloomberg US Eurozone UK Hasbro Inc HAS UW ▲12.24% TechnipFMC PLC FTI FP ▲5.90% International Consolidated Air IAG LN ▲4.59% Aon PLC AON UN ▲8.21% Boliden AB BOL SS ▲5.62% Antofagasta PLC ANTO LN ▲4.07% Live Nation Entertainment Inc LYV UN ▲5.75% Evolution AB EVO SS ▲5.39% Glencore PLC GLEN LN ▲3.31% Carnival Corp CCL UN ▲5.46% BAWAG Group AG BG AV ▲4.96% Anglo American PLC AAL LN ▲3.19% NOV Inc NOV UN ▲5.01% International Consolidated Air IAG LN ▲4.73% Rio Tinto PLC RIO LN ▲3.10% PerkinElmer Inc PKI UN ▲4.73% ArcelorMittal SA MT NA ▲4.38% BHP Group PLC BHP LN ▲3.10% Leaders Norwegian Cruise Line Holdings NCLH UN ▲4.62% Antofagasta PLC ANTO LN ▲4.20% BP PLC BP/ LN ▲2.87% American Airlines Group Inc AAL UW ▲4.15% Danske Bank A/S DANSKE DC ▲4.11% Royal Dutch Shell PLC RDSA LN ▲2.55% Freeport-McMoRan Inc FCX UN ▲4.15% Banco de Sabadell SA SAB SQ ▲4.11% Royal Dutch Shell PLC RDSB LN ▲2.52% Royal Caribbean Cruises Ltd RCL UN ▲4.07% easyJet PLC EZJ LN ▲4.06% Evraz PLC EVR LN ▲2.50% Willis Towers Watson PLC WLTW UW ▼8.98% Prosus NV PRX NA ▼8.84% Unilever PLC ULVR LN ▼2.73% Twitter Inc TWTR UN ▼4.18% MorphoSys AG MOR GY ▼8.67% London Stock Exchange Group PL LSEG LN ▼2.62% Moderna Inc MRNA UW ▼3.72% Faurecia SE EO FP ▼5.71% B&M European Value Retail SA BME LN ▼2.42% Lockheed Martin Corp LMT UN ▼3.34% Scatec ASA SCATC NO ▼4.70% Smith & Nephew PLC SN/ LN ▼2.28% Catalent Inc CTLT UN ▼2.80% Koninklijke Philips NV PHIA NA ▼4.23% AstraZeneca PLC AZN LN ▼2.22% Incyte Corp INCY UW ▼2.51% Signify NV LIGHT NA ▼3.85% Flutter Entertainment PLC FLTR LN ▼2.21% Laggards Snap-on Inc SNA UN ▼1.99% NEL ASA NEL NO ▼3.84% Intertek Group PLC ITRK LN ▼2.18% Arthur J Gallagher & Co AJG UN ▼1.98% La Francaise des Jeux SAEM FDJ FP ▼3.73% Pearson PLC PSON LN ▼2.17% Cigna Corp CI UN ▼1.91% Skanska AB SKAB SS ▼3.53% Just Eat Takeaway.com NV JET LN ▼1.82% NVR Inc NVR UN ▼1.90% Schindler Holding AG SCHP SE ▼3.45% Pershing Square Holdings Ltd/F PSH LN ▼1.71% 2 Equity Markets Top Movers % Source: Bloomberg China A Japan Hong Kong Shengyi Technology Co Ltd 600183 CH ▲10.01% Sumitomo Metal Mining Co Ltd 5713 JT ▲4.74% Geely Automobile Holdings Ltd 175 HK ▲5.13% WUS Printed Circuit Kunshan Co 002463 CH ▲9.97% Fujikura Ltd 5803 JT ▲4.36% Techtronic Industries Co Ltd 669 HK ▲4.02% Shanghai Baosight Software Co 600845 CH ▲9.13% Mitsui Mining & Smelting Co Lt 5706 JT ▲3.61% HSBC Holdings PLC 5 HK ▲4.01% National Silicon Industry Grou 688126 CH ▲7.80% Mitsui E&S Holdings Co Ltd 7003 JT ▲3.17% PetroChina Co Ltd 857 HK ▲3.73% Zijin Mining Group Co Ltd 601899 CH ▲6.58% Pacific Metals Co Ltd 5541 JT ▲3.14% CK Asset Holdings Ltd 1113 HK ▲3.67% China Northern Rare Earth Grou 600111 CH ▲6.12% Tokai Carbon Co Ltd 5301 JT ▲2.94% CITIC Ltd 267 HK ▲3.61% Leaders Xinjiang Goldwind Science & Te 002202 CH ▲5.95% Nippon Light Metal Holdings Co 5703 JT ▲2.89% China Petroleum & Chemical Cor 386 HK ▲3.38% Guangdong Haid Group Co Ltd 002311 CH ▲5.52% Citizen Watch Co Ltd 7762 JT ▲2.86% CK Hutchison Holdings Ltd 1 HK ▲3.23% Wingtech Technology Co Ltd 600745 CH ▲5.48% JFE Holdings Inc 5411 JT ▲2.71% Power Assets Holdings Ltd 6 HK ▲2.61% Unigroup Guoxin Microelectroni 002049 CH ▲5.19% Nippon Suisan Kaisha Ltd 1332 JT ▲2.52% CK Infrastructure Holdings Ltd 1038 HK ▲2.34% Hundsun Technologies Inc 600570 CH ▼8.76% Rakuten Group Inc 4755 JT ▼7.62% Alibaba Health Information Tec 241 HK ▼13.53% Hongta Securities Co Ltd 601236 CH ▼5.78% Sumitomo Dainippon Pharma Co L 4506 JT ▼2.41% Country Garden Services Holdin 6098 HK ▼9.15% Beijing New Building Materials 000786 CH ▼5.53% Nitto Denko Corp 6988 JT ▼2.41% Meituan 3690 HK ▼7.56% Changchun High & New Technolog 000661 CH ▼5.29% Eisai Co Ltd 4523 JT ▼2.36% Tencent Holdings Ltd 700 HK ▼4.49% Hangzhou Hikvision Digital Tec 002415 CH ▼5.01% Kyowa Kirin Co Ltd 4151 JT ▼1.87% Haidilao International Holding 6862 HK ▼4.47% Chongqing Brewery Co Ltd 600132 CH ▼4.91% GS Yuasa Corp 6674 JT ▼1.27% Wuxi Biologics Cayman Inc 2269 HK ▼3.50% Laggards Topchoice Medical Corp 600763 CH ▼4.78% Kawasaki Kisen Kaisha Ltd 9107 JT ▼1.12% Alibaba Group Holding Ltd 9988 HK ▼3.49% Offcn Education Technology Co 002607 CH ▼4.75% Astellas Pharma Inc 4503 JT ▼0.75% Hong Kong Exchanges & Clearing 388 HK ▼3.28% Ganfeng Lithium Co Ltd 002460 CH ▼4.68% Chugai Pharmaceutical Co Ltd 4519 JT ▼0.69% CSPC Pharmaceutical Group Ltd 1093 HK ▼2.88% Beijing Tongrentang Co Ltd 600085 CH ▼4.53% Otsuka Holdings Co Ltd 4578 JT ▼0.69% ANTA Sports Products Ltd 2020 HK ▼2.23% 3 World Equity Indices Americas Valuations Performance Name Country Last Price 5 Yr Average Forward P/B 12M Forward P/B 5 Yr Average Forward P/E 12M Forward P/E %1D %WTD %MTD %QTD %YTD Dow Jones United States 35,144 3.8x 4.9x 17.5x 19.9x ▲0.24 ▲0.24 ▲1.86 ▲1.86 ▲14.83 S&P 500 United States 4,422 3.2x 4.4x 18.6x 21.9x ▲0.24 ▲0.24 ▲2.90 ▲2.90 ▲17.74 NASDAQ United States 14,841 4.6x 6.6x 24.5x 31.8x ▲0.03 ▲0.03 ▲2.32 ▲2.32 ▲15.15 Russell 2000 United States 2,217 1.9x 2.0x 28.5x 29.6x ▲0.33 ▲0.33 ▼4.05 ▼4.05 ▲12.26 EMEA Valuations Performance Name Country Last Price 5 Yr Average Forward P/B 12M Forward P/B 5 Yr Average Forward P/E 12M Forward P/E SGD AUD %MTD %QTD %YTD STOXX Europe 600 Eurozone 461 1.8x 2.1x 15.6x 16.4x ▼0.08 ▼0.08 ▲1.83 ▲1.83 ▲15.57 STOXX 50 Eurozone 4,103 1.6x 2.1x 15.0x 17.8x ▼0.16 ▼0.16 ▲0.94 ▲0.94 ▲15.48 FTSE 100 United Kingdom 7,025 1.7x 1.8x 14.4x 11.1x ▼0.03 ▼0.03 ▼0.17 ▼0.17 ▲8.74 FTSE 250 United Kingdom 22,933 1.7x 1.6x 16.4x 20.6x ▲0.22 ▲0.22 ▲2.49 ▲2.49 ▲11.93 Asia/Pacific Valuations Performance Name Country Last Price 5 Yr Average Forward P/B 12M Forward P/B 5 Yr Average Forward P/E 12M Forward P/E %1D %WTD %MTD %QTD %YTD Japan Nikkei 225 Japan 27,932 1.7x 1.8x 17.9x 18.2x ▲0.35 ▲1.39 ▼2.99 ▼2.99 ▲1.78 Hong Kong Hang