Daily Morning Note – 1 October 2018

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YOUR PHILLIP SUMMARY

Asia markets are poised for a mixed start to the trading week following the release of data Sunday that showed a slowdown in China’s manufacturing sector. The Caixin/Markit Manufacturing Purchasing Managers’ Index — which focuses on small and medium-sized firms in China that are seen as crucial for job creation in the country — fell to 50.0 in September from 50.6 in August. Also on Sunday, Canadian and U.S. negotiators “made lots of progress” on Sunday on a renewed NAFTA but had still not settled tough issues such as American tariffs and access to Canada’s dairy market, an official and sources said. The S&P 500 saw its best quarterly gain since the fourth quarter of 2013, rising 7.2 percent. Meanwhile in the UK, buyers face higher taxes on their purchase of homes in the UK as Prime Minister Theresa May starts unveiling policy plans before her Conservative party conference.


TECHNICAL PULSE

SATS Ltd – Daily timeframe – Bullish

– The bulls succeeded in breaking price above the immediate downtrend line
and 20, 60 and 200 day moving average convincingly on 28/09/18 signals
further upside next.
– Expect price to head higher next to test the 5.30 resistance area followed
by 5.60.


For more information and additional disclosures, refer to the link here.

BREAKING NEWS

The dollar climbed to a two-week peak versus a currency basket on Friday, as concerns about the Italian budget weighed on the euro while the greenback drew support from an outlook for multiple US interest rate hikes until 2020. The dollar also rose to a nine-month high against the yen.

Chinese PMI numbers slipped to a seven-month low of 50.8 in September from 51.3 in August, according to the National Bureau of Statistics. The reading missed economists’ median forecast of 51.2 for last month.

Royal Dutch Shell Plc and its four partners have agreed to invest in $31 Billion LNG gas project in western Canada

Certis’ Aussie buy aims to conquer security market down under

Elon Musk ousted as Tesla chairman in SEC deal, but remains CEO, company to pay US$20m fine

Source: SGX Masnet, Bloomberg, Reuters, The Business Times, Channel NewsAsia, Phillip Securities Research

Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research

Read the research report(s), available through the link(s) above, for complete information including important disclosures

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