Asian Stocks Slip as Iran Tensions, Samsung Weakness and Fed Caution Weigh on Markets 
Oil Prices Jump as Middle East Tensions Shake Markets, AI Rally Loses Steam 
RBNZ Raises Interest Rates to 2.50%, Signals More Tightening as Inflation Risks Persist 
US Stock Futures Slip as Fed Minutes, Earnings Season Take Center Stage 
Chinese Chip Stocks Jump as Apple Reportedly Tests CXMT Memory Chips for China Devices 
US Stock Futures Steady as US-Iran Tensions and Fed Inflation Concerns Weigh on Markets 
Nasdaq Futures Slide as AI Chip Stocks Sink Despite Samsung Earnings; SpaceX Debuts in Nasdaq-100 
Germany Seen Gaining as U.S. China-Built Ship Fees Reshape Trade 
US Back-to-School Spending Seen Falling as Families Focus on Essentials 
Exports in Singapore are expected to remain tepid in the near-term, following weakness in global business conditions. There are still pockets of risk in the horizon pertaining to key markets such as China, the US and the Eurozone.
Headline non-oil domestic exports for October shrunk by a whopping 12.0 percent y/y in the month. Sequentially, sales fell by 3.7 percent m/m on a seasonally adjusted basis, reversing a 2.2 percent rise in the previous month.
Further, exports of pharmaceutical products plunged by 47 percent y/y in the month. In addition, the decline in electronics exports (-6.6 percent y/y) despite improvements in electronics production output and PMI also suggest that near-term outlook doesn’t seem that bright after all.
Indeed, inventory stock, falling electronics component prices, currency fluctuations and base effect could have caused the discrepancies between sales and production output. Perhaps better electronics output for the month will ease some concern.
"Signs of improvement are tentative at present and it doesn’t help when there will be substantial seasonal factors masking any clue of a turnaround particularly at the tail end of every year and right through the beginning the following year," DBS commented in its latest research report.
