Daily Morning Note – 07 June 2018
WEEKLY MARKET OUTLOOK WEBINAR
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Archived webinars available.
Singapore Coal Monthly – More cooling attempts from China
Recommendation: BUY, Analyst: Chen Guangzhi
– National Development and Reform Commission announced new measures to
curb coal price
– Coal price resumed upward momentum
– Restriction on seaborne coal may relax
The Dow Jones Industrial Average +1.40% rose 346.41 points, or 1.4%, to 25,146.39. The S&P 500, +0.86% added 23.55 points, or 0.9%, at 2,772.35, also ending at its highest since March 12. The Nasdaq Composite rose 51.38 points, or 0.7%, to 7,689.24, recording its third consecutive all-time closing high.
Oil slid lower after a U.S. government report showed a surprise increase in domestic crude stockpiles. Futures dropped 1.2 percent in New York on Wednesday to the lowest level in almost two months.
Trump to stick to That move unleashed fury in the Group of Seven (G-7) industrialised nations and prompted quick retaliation from Canada and Mexico and a promise from the EU to do so as well, unnerving investors who fear a trade war that could damage the global economy.
China publishes CDR rules allowing domestic listing of overseas firms.
Alliance Mineral doubles lithium reserves at West Australian mine; tantalum ore reserves up 43%.
Ezion says Teras Lyza liftboat has capsized in the South China Sea. Teras Lyza is fully insured so Ezion does not expect any material negative impact on its financial results.
Source: SGX Masnet, Bloomberg, Channel NewsAsia, Reuters, The Business Times, PSR
Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research
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