Daily Morning Note – 1 October 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar.
Archived webinars available.
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
| Disclaimer |
| The information contained in this email and/or its attachment(s) is provided to you for information only and is not intended to or nor will it create/induce the creation of any binding legal relations. The information or opinions provided in this email do not constitute an investment advice, an offer or solicitation to subscribe for, purchase or sell the e investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise. You may wish to seek advice from an independent financial adviser before making a commitment to purchase or investing in the investment product(s) mentioned herein. In the event that you choose not to do so, you should consider whether the investment product(s) mentioned herein is suitable for you. PhillipCapital and any of its members will not, in any event, be liable to you for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on any information in and/or materials attached to this email. The information and/or materials provided “as is” without warranty of any kind, either express or implied. In particular, no warranty regarding accuracy or fitness for a purpose is given in connection with such information and materials. |
| Confidentiality Note |
| This e-mail and its attachment(s) may contain privileged or confidential information, which is intended only for the use of the recipient(s) named above. If you have received this message in error, please notify the sender immediately and delete all copies of it. If you are not the intended recipient, you must not read, use, copy, store, disseminate and/or disclose to any person this email and any of its attachment(s). PhillipCapital and its members will not accept legal responsibility for the contents of this message. Thank you for your cooperation. |
