Daily Morning Note – 11 Dec 2019

WEEKLY MARKET OUTLOOK WEBINAR

note: This week’s was the last webinar of the year.

PHILLIP SUMMARY

The Dow dipped 27.88 points, or 0.10% to close at 27,881.72. The S&P 500 fell 0.11% to end the day at 3,132.52. The Nasdaq Composite declined 0.07% to 8,616.18. Wall Street struggled for direction for most of the session as a key deadline loomed for U.S.-China trade talks.

Deal between China and the U.S. by Sunday was unlikely. That report sent stock futures lower before the open. Sentiment later picked up after The Wall Street Journal said the U.S. planned to delay the implementation of additional tariffs on Chinese goods. However, National Economic Council Director Larry Kudlow said Sunday’s tariffs are still on the table. Bottom line, the mixed news around trade prevented investors from taking the market in one definitive direction on Tuesday. Investors will need more clarity on the trade situation before the market can resume its record-setting rally.

BREAKING NEWS

CATALIST-LISTED JCG Investment and a Malaysian have entered into a subscription agreement, with the individual investor subscribing for over 53.4 million new shares and over 10.6 million new warrants in the former.

MS Holdings posted net earnings of S$34,000 for the half-year to October, reversing a loss of S$335,000 for the corresponding period a year ago. This came mainly on an improvement in the utilisation rate of its mobile cranes.

FRUITS distributor SunMoon Food Company on Tuesday said its wholly-owned subsidiary has received a statutory demand on Nov 29 from Japanese food supplier Wismettac Foods, which is seeking payment of US$1.2 million within 21 days from the date the demand was served.

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

Webinar Of The Week

Market Outlook: : Market Outlook: (PSR) FLT & FCOT Merger, SG Banking & Technical Analysis

Date: 9 December 2019

For more on Market Outlook

Phillip Research in 3 minutes: #16- JEP Holdings Ltd

Updates summarised in 3 minutes

For more videos on Phillip in 3 Mins

Read the research report(s), available through the link(s) above, for complete information including important disclosures Important Information





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.