Daily Morning Note – 11 July 2018

WEEKLY MARKET OUTLOOK WEBINAR

Register HERE for MONDAY’s 11.15am webinar.

Archived webinars available.

TECHNICAL PULSE

STI – Daily timeframe – Bullish
– With the recent bullish breakout on 10/07/18, the RSI has also risen back
above the 30 oversold region suggests the start of the mean reversion higher.
– Expect the STI to recover back into the long-term uptrend next for price to
test the 3,354 resistance area followed by 3,469.

For more information and additional disclosures, refer to the link here.


BREAKING NEWS

The Trump administration announced a list of tariffs on $200 billion in Chinese goods, in an escalating trade war with Beijing. The tariffs will not go into effect immediately but will undergo a two-month review process, with hearings Aug. 20-23.

Hyflux Ltd has received a Letter of Intent from Asia Water Development Engineering Company (AWDEC) to award a second contract for a seawater reverse osmosis desalination package in the same location as the first project in Bandar Abbas, Iran.

Citic Envirotech announced the launch of Singapore Envirotech Accelerator and the opening of Memstar USA’s Reverse Osmosis/Nano Filtration membrane manufacturing plant in Conroe, Texas.

World Class Global Limited has recorded A$156.8 million in total revenue from the first phase handovers of AVANT and Australia 108 in 1H 2018.

Yongnam Holdings Limited has secured four contracts worth S$23 million for projects in Singapore.

GuocoLand Limited has successfully tendered for the enbloc acquisition of the development known as Casa Meyfort Condominium and exercised its option to purchase at a purchase consideration of S$319.88 million.

Frasers Commercial Trust has entered into a property sale agreement with an unrelated third party to sell the property located at 55 Market Street.

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

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.