Daily Morning Note – 12 April 2019
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YOUR PHILLIP SUMMARY
Overnight on Wall Street, stocks finished the trading day stateside close to the flatline. The Dow Jones Industrial Average shed 14.11 points to 26,143.05 and the S&P 500 posted a marginal gain at 2,888.32. The Nasdaq Composite declined 0.2 percent to 7,947.36.The Wall Street Journal reported Thursday that China agreed to open its cloud-computing sector to foreign companies in an attempt to sweeten a deal with the U.S.
Shares in Asia were mixed in Friday morning trade as hopes rise on progress on the U.S.-China trade front. The Nikkei 225 in Japan rose fractionally in early trade, as shares of index heavyweight Fast Retailing jumped 5.59 percent. The Topix index, on the other hand, slipped 0.2 percent. In South Korea, the Kospi fell 0.42 percent as shares of industry heavyweight Samsung Electronics and SK Hynix declined.
BREAKING NEWS
WASHINGTON four Senate Republicans were on record on Thursday as opposing Donald Trump’s planned choice of former pizza executive Herman Cain to join the US Federal Reserve, essentially scuppering his confirmation before the president officially nominates him.
NEW YORK Wall Street stocks finished a quiet session mostly lower Thursday as investors looked ahead to bank results that will kick off first-quarter earnings season.
HYFLUX will restart talks with its creditors to explore outcomes other than liquidation, but has not decided yet on whether it will seek an extended debt moratorium from the Singapore High Court.
MAINBOARD-LISTED BM Mobility has given its group financial controller the boot, not long after his controversial appointment to the post.
CapitaLand Mall Trust names Teo Swee Lian as new chairman.
The Singapore High Court has ordered Oriental Group to be wound up, the Catalist-listed steel trader said after market close on Thursday.
Ace Achieve Infocom given S$600,000 lifeline by Rayhii Holding Limited
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research
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