Daily Morning Note – 10 May 2019

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YOUR PHILLIP SUMMARY

Asian shares climbed with U.S. equity futures as the U.S. and China continued a pivotal round of trade negotiations. The yuan remains near its weakest since January. Dow and Nasdaq futures both fell 0.12%.



BREAKING NEWS

Netflix is acquiring the rights to another show from Alibaba Group Holding’s Youku video service, stepping up efforts to serve Chinese-speaking viewers around the world.

Walt Disney Co wrote off the rest of its investment in Vice Media, reflecting the ongoing troubles at the onetime media darling.The charge of US$353 million marked the second time in the past year that Disney has taken a hit on the investment.

Uber Technologies priced its initial public offering (IPO) on Thursday at the low end of its targeted range to value the company at US$82.4 billion, hoping the conservative approach would let it avoid the market chaos suffered by rival Lyft.

HOME buyers will now have greater flexibility to use their CPF when buying older homes as long as the remaining lease of the property can cover the buyer until they turn at least 95 years of age.

Brent oil futures settled slightly higher on Thursday, rebounding from a drop after US President Donald Trump revived investor hopes that the United States might not raise tariffs on Chinese imports, a step that could hit economic growth and crimp oil demand.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR

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