Daily Morning Note – 11 September 2018

WEEKLY MARKET OUTLOOK WEBINAR

Register HERE for MONDAY’s 11.15am webinar.

Archived webinars available.

YOUR PHILLIP SUMMARY

U.S. stocks closed mostly higher Monday, with the S&P 500 and the Nasdaq each snapping a four-day losing streak on the back of a recovery in technology shares. The S&P 500 SPX, +0.19% rose 5.45 points, or 0.2%, to finish at 2,877.13 and the Nasdaq Composite Index COMP, +0.27% gained 21.62 points, or 0.3%, to 7,924.16. The Dow Jones Industrial Average DJIA, -0.23% fell 59.47 points, or 0.2%, to 25,857.07 but the Dow transports DJT, +1.82% climbed 1.8% to 11,554.08.

Hong Kong stocks started the week with sharp losses Monday as investors were spooked by Donald Trump’s threat to ramp up his trade war with China. The Hang Seng Index fell 1.33 per cent, or 360.05 points to 26,613.42. Shanghai Composite Index shed 1.21 per cent, or 32.82 points, to close at 2,669.48, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, dropped 1.84 per cent, or 26.44 points, to 1,406.92.


RESEARCH REPORT

800 Super Holdings Ltd – Management raised their stake

Recommendation: BUY (Maintained), Last Close Price: $0.865

Target Price: $1.03 (unchanged), Analyst: Richard Leow

– Largest shareholder now controls 67.63% of the Company

– Management controls the largest shareholder

– Previous time Management bought shares in the Company was February 2016

– Expect to see a price floor at $0.82


Land Transport Sector – Taxi stabilising & fare increase for public transport
Analyst: Richard Leow

– Maintain Overweight on the Land Transport sector due to positive industry
restructuring and the worst being over for the Taxi industry

– PTC says that fare increase will be up to 4.3%

– Maintain Accumulate on ComfortDelGro; unchanged target price of $2.78

– Keeping our target price for now, until exact quantum of fare increase is
announced (our current model assumes 0% change in Rail fares)


TECHNICAL PULSE

Q&M Dental Ltd – Daily timeframe – Bullish

– An increasing volume hammer rejection bar off the 0.450 psychological round
number was formed on 10/09/18 signals a reversal higher next.

– Expect price to rebound higher once the bullish follow-through happens with
0.555 resistance area being the next target followed by 0.595.


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

BREAKING NEWS

Crane rental company MS Holdings Limited has entered is exploring a strategic cooperation to acquire and develop a land parcel lot in Incheon Free Economic Zone of Korea into a casino amenity, residential, commercial and tourism complex.

Centurion Corp is expanding its accommodation business into North Asia with the proposed acquisition of Benikea Hotel KP located in the Dongdaemun district within Seoul, South Korea.

OUE Commercial REIT announced the proposed acquisition of the office components of OUE Downtown, and the proposed Rights Issue to raise gross proceeds of approximately S$587.5 million.


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

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