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Market Review

US:

US stocks were mixed on Friday as Wall Street tempered its rate-cut hopes amid economic data this week that showed higher-than-expected wholesale inflation and a rise in July retail sales.

Asia:

Asia-Pacific markets mostly rose Monday, after the U.S.- Russia summit concluded without a ceasefire.

India:

Indian market was closed on Friday on account of Independence day. Market is expected to open on a gap up note and likely to witness positive move during the day.

Global economy:

Singapore’s non-oil domestic exports fell 4.6% in July from the same month a year earlier, weaker than analysts’ estimates as pharmaceuticals led a drop in nonelectronics shipments. The fall compared with a Reuters poll forecast for annual contraction of 1.8%, and followed a revised 12.9% rise in June. Non-oil domestic exports to the U.S., China and Indonesia declined in July, but rose to the EU, Taiwan, South Korea and Hong Kong. After the economy performed better-than-expected in the first half of 2025, the government last week raised its full-year growth forecast for 2025 to 1.5% to 2.5% from 0.0% to 2.0%, having cut the forecast earlier this year after the announcement of U.S. tariffs.

Asking prices for newly advertised British houses and apartments fell in the four weeks to mid-August but the drop was less notable than in the previous two months and sales in July were their highest for the time of year since 2020. Prices for homes put on sale between July 13 and August 9 dropped by 1.3% from the previous four weeks, in line with the normal midsummer fall in prices. Asking prices had shown unusually big declines for the time of year in the previous two four-week periods. In annual terms, prices were up by 0.3%, Rightmove said.

Commodities:

Oil prices slipped on Monday as the U.S. did not exert more pressure on Russia to end the Ukraine war by implementing further measures to disrupt Russian oil exports after the presidents from both countries met on Friday. Gold held steady on Monday after hitting a one-week low, with attention turning to U.S. President Donald Trump's meeting with Ukrainian President Volodymyr Zelenskiy and European leaders to discuss a peace deal with Russia.

Currency:

The dollar dithered on Monday ahead of a key meeting between U.S. President Donald Trump and his Ukrainian counterpart Volodymyr Zelenskiy, while investors also looked ahead to the Federal Reserve's Jackson Hole symposium for more policy clues.

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