A$ again in the spotlight as RBA lift rates an additional 25bps (as expected) to 6.75% followed with hawkish commentary. The markets are not ruling out a further hike in December. A$ has firmed up some 100 bps today on back of the rate hike.
Weak USD, Strong Gold Price which is getting closer to US$900, Oil hits new high and local oil pumps here has raised their cost of petrol to the consumer yesterday. Markets around still continue to have a live of its own despite all the signs of cautiousness. Track the volatility of the Hang Seng Index and the high turnover of the futures and covered warrants today.
For the stocks, the play continues on commodities and agricultural products with some broker upgrades on them. In Singapore, Wilmar, Golden Agri and Indofood are the few that comes into mind. In Malaysia, stick to plantation stocks, IOI Corp and KLK are the 2 faves that come into mind.
Just keep in mind the MSCI changes if you are looking for trading ideas too.
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