Daily Morning Note – 11 June 2018


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Phillip Singapore Monthly June 2018: A Short and Long Fuse
Analyst: Paul Chew
– STI was down 5.1% in May, returning all its gains of the previous month.
– Hogging the headlines has been a spike in Italian bond yields and US trade
– In Singapore, most indicators support a healthy economic momentum, such as
the manufacturing PMI, tourism, transportation, construction and loans

Technical Analysis: Technical Pulse – The Phillip 20 Portfolio – May Monthly Review
– New Entries: China Everbright, ComfortDelGro, Memtech Intl, Jardine C&C,
Wing Tai and Geo Energy Res
– Stop loss: Golden Energy, Riverstone, Miyoshi, Sembcorp Ind, Jumbo and UOL
– Total return since May 17 to May 18 is +0.48%
– STI currently in a correction phase with the 3350 – 3341 support area being
the next target


U.S. stocks closed slightly higher on Friday, with major indexes finishing the week higher despite caution over trade-related tensions playing out at the G-7 weekend summit. The Dow Jones industrial average rose 0.3 percent, or 75.12 points, to close at 25,316.53, the S&P 5&P 500 advanced 0.31 percent to 2,779.03 and the Nasdaq composite gained 0.14 percent to end at 7,645.51.

Chinese technology company ZTE Corp will be “shut down” in the United States if it engages in one more bad activity, White House trade adviser Peter Navarro warned on Sunday.

Microsoft on Monday announced plans to acquire software developer platform GitHub in a deal valued at $7.5 billion.

Temasek Holdings and GIC are part of a group of investors pumping in about US$14 billion (S$18.7 billion) in Ant Financial’s Series C funding round.

Xiaomi is set to start pre-marketing the Hong Kong leg of its simultaneous Hong Kong and Shanghai listing this Monday, according to people close to the deal.

A 31.4 per cent owned associate of First Sponsor Group is selling its stake in Dutch hotel Bilderberg Landgoed Lauswolt for 6.88 million euros (S$10.8 million).

The chief financial officer of China Environment Ltd, Chong Guan Choi, has stepped down about six months after being appointed to the CFO role.

EL Development has signed a memorandum of understanding with Accor for the French hotel chain to manage a new hotel, under its Pullman brand, in Hill Street.

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

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

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