Daily Morning Note – 12 September 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar.
Archived webinars available.
YOUR PHILLIP SUMMARY
U.S. stocks rose on Tuesday as a rebound in tech shares offset lingering concerns over trade. The Dow Jones Industrial Average settled up 114 points as Apple and Exxon Mobil outperformed. The Dow also got a boost from Nike shares.
Apple gained 2.5 percent, snapping a four-day losing streak, after analysts at UBS raised their price target to $250 from $215, citing the potential growth of the company’s services business. Apple is holding a big event at its new headquarters on Wednesday, where it’s expected to announce several new products. Netflix and Amazon also rose 2.2 percent and 2.5 percent, respectively, while Twitter jumped 1.2 percent.
The major indexes traded lower earlier in the day as China was said to have seeked authorization from the World Trade Organization to slap sanctions on the United States as trade tensions between the two largest world economies grow.
Oei Hong Leong has sold his entire 32.96 per cent stake in mainboard-listed IPC Corporation through married deals on Tuesday, for a total of S$11.2 million, or an average of 40 Singapore cents per share. Picking up some of his shares were IPC chairman and chief executive Patrick Ngiam and his family.
Straits Trading Company on Tuesday said that it plans to subscribe for A$40 million (about S$39.3 million) worth in trust units that would allow it to acquire a portfolio of logistics properties across Australia.
SIIC Environment Holdings Ltd has won a new wastewater project in the city of Beihai, Guangxi, the People’s Republic of China. The Project’s investment value is estimated at RMB578.2 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
|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.|
|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.|