Daily Morning Note – 10 June 2019
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YOUR PHILLIP SUMMARY
President Donald Trump intensified pressure on China to strike a trade deal in Washington this week by threatening to more than double tariffs on $200 billion of the Asian nation’s sales to the world’s largest economy. In an abrupt shift from the White House after both sides had indicated negotiations were going well, Trump tweeted on Sunday he’s not satisfied with the pace of progress and that the duties would increase Friday. He had twice delayed increasing tariffs to 25 percent from 10 percent after agreeing to a Dec. 1 truce with President Xi Jinping to give negotiators time to work out a comprehensive agreement. Trump also raised the possibility of imposing a 25 percent tariff on another $325 billion in imports from China not currently covered.
Keppel Corp Ltd
Current Sentiment: Technical SELL
Some of the world’s biggest tech companies have told their employees to stop talking about technology and technical standards with counterparts at Huawei Technologies in response to the recent US blacklisting of the Chinese tech firm, according to people familiar with the matter.
The Trump administration’s acting budget chief is asking for a delay in restrictions against Huawei Technologies products, according to a letter to Vice-President Mike Pence and nine members of Congress
American Airlines has canceled all scheduled flights with Boeing 737 Max jets through September 3, extending the grounding of its fleet after two crashes involving the same aircraft model killed 346 people.
American defence and aeronautics heavyweights Raytheon and United Technologies announced on Sunday that they have agreed to merge, the companies said in a joint statement.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
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