Daily Morning Note – 12 February 2019

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YOUR PHILLIP SUMMARY

Asian stocks looked set for a mixed day after a muted U.S. session as markets await a crucial round of trade talks. The dollar strengthened for an eighth day, and 10-year Treasuries fell. The S&P 500 Index finished little changed after drifting most of the session. West Texas Intermediate crude slipped to its lowest close in two weeks, while gold headed for its first drop in three sessions.

Secretary of State Michael Pompeo came close to issuing an us-or-them ultimatum to nations buying from Huawei Technology Co., saying in Hungary that contracts with the Chinese networking giant could limit the availability of U.S. equipment.



BREAKING NEWS

Secretary of State Michael Pompeo came close to issuing an us-or-them ultimatum to nations buying from Huawei Technology Co., saying in Hungary that contracts with the Chinese networking giant could limit the availability of U.S. equipment.

Reddit Inc. said Monday that it raised $300 million from investors. It was one backer, in particular, that drew condemnation from members of Reddit’s online community. Chinese internet giant Tencent Holdings Ltd. was among the investors in the round, which values the link-sharing website at $3 billion.

Former Citibank Singapore CEO Han Kwee Juan will be joining DBS Group Holdings as group head of strategy and planning in April, DBS announced on Monday.

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

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