Daily Morning Note – 10 July 2019
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Stocks in Asia were mixed in Wednesday morning trade as investors await comments from U.S. Federal Reserve Chairman Jerome Powell for possible clues on the central bank’s next move on interest rates.
The Dow Jones Industrial Average fell slightly on Tuesday as investors awaited more clues on the Federal Reserve’s next monetary policy move.
Recommended Action: Technical Long
Kellogg’s Falling wedge formation suggests that the stock may be coming to an end of its bearish decline. We expect the stock to enter into a new phase of recovery soon.
Read more technical pulse
Hong Kong‘s chief executive Carrie Lam announced on Tuesday that a proposal to allow extraditions to the Chinese mainland “is dead”, but she again stopped short of protester demands to immediately withdraw the Bill.
Monaco on Tuesday became the first country in Europe to inaugurate a next-generation 5G mobile phone network based on technology from Huawei.
Temasek Holdings on Tuesday reported a one-year total shareholder return (TSR) of 1.49 per cent for the 12 months ended March 31, 2019, reflecting market volatility as it warned of lower returns expectations for the longer term amid weak global growth.
800 Super Holdings has requested a trade suspension starting from 9am on Tuesday, following the loss of its free float after a privatisation offer by its controlling shareholder – the Lee family, closed on Monday.
The SGX has entered into a strategic investment in Smartkarma, which runs a digital global investment research network.
Wee Hur Holdings, through its wholly-owned subsidiary Wee Hur Construction, has secured a S$39 million construction project from Tanglin Trust School.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
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