Daily Morning Note – 10 April 2018
WEEKLY MARKET OUTLOOK WEBINAR
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TECHNICAL PULSE
JB Foods Ltd – Daily timeframe – Bullish
– An increasing volume Bullish Outside Bar was formed on 09/04/18 signals the
resumption of the uptrend next.
– Expect price to head higher next to retest the 0.66 resistance area followed by
0.700.
For more information and additional disclosures, refer to the link here.
BREAKING NEWS
The US deficit will grow more than 20 per cent this year and reach US$1 billion by 2020, largely due to December’s sweeping tax cuts, the Congressional Budget Office said Monday.
Rising US-China trade tensions are raising alarm bells in export-reliant Singapore, with an index measuring economic uncertainty climbing to a five-month high in March. The Economic Policy Uncertainty Index for Singapore increased to 155 last month from 126 in February, showing the tariff threats are starting to make their mark.
Oil prices rose more than 2 per cent on Monday, supported by a rebound in the stock market as concerns of a trade war between the United States and China eased.
Noble Group restructuring in doubt as Richard Elman, the founder and largest shareholder of Noble Group Ltd, is pushing the embattled commodities trader’s creditors for a new restructuring deal, according to people familiar with the matter, casting fresh doubt on the survival of the company.
OXLEY Holdings sold 129 units, or 76 per cent, of the 170-unit The Verandah Residences over the weekend launch of the freehold condominium near the South Buona Vista neighbourhood. The units were sold at an average of S$1,815 per square foot (psf).
SATS Ltd’s subsidiary, TFK Corporation, and its wholly owned subsidiary, Narita Dry Ice Co., Ltd., have on 27 March 2018 fully divested their combined 1,000,000 shares which represent a 100% stake (“Sale Shares”) in Tokyo Flight Kitchen Restaurantes Ltda (“TFK Brazil”) to Luiz Yoshiyasu Hidaka and Rosa Lhoko Hidaka (“TFK Brazil Divestment”).
Source: SGX Masnet, The Business Times, 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
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