Daily Morning Note – 13 Jan 2020
WEEKLY MARKET OUTLOOK WEBINAR
PHILLIP SUMMARY
Rising U.S.-Iran tensions quickly went from an incendiary issue to a nonissue for global markets this past week. Both sides seemed eager to step back from further violent escalation, despite plenty of opportunity to do so.
The tensions peaked on Tuesday night after Iran sent a barrage of missiles at two bases housing U.S. forces in Iraq. S&P 500 index futures dropped as much as 1.6% within minutes. But as details of the attack emerged and it became clear that there had been no casualties, futures rebounded just as fast. They opened up slightly on Wednesday.
BREAKING NEWS
Renewable Energy Asia (REA) Group said on Saturday in a regulatory update that it will be delisted from the Singapore Exchange (SGX) on Feb 7 at 9am.
The Singapore Exchange (SGX) will suspend trading of shares in catalist-listed Citic Envirotech from 9am on Jan 13, after the company’s free float fell under the 10 per cent mark on Friday 5.30pm, it announced in a bourse filing on Saturday.
Catalist-listed Sen Yue has revenue in the hundreds of millions but currently suffers from low margins for its commodities trading business. This has resulted in either minimal profits or losses for the Group over the years.
Heliconia-backed Rigel Technology eyes expansion, dismisses listing talk.
Finance company Singapura Finance and homegrown digital payments startup MatchMove Pay are believed to have joined forces in hopes of landing a digital bank licence in Singapore.
United Overseas Bank (UOB) has projected a S$10 billion market opportunity in Asean, with the 84-year-old Singapore bank going on the offensive to take a chunk of it through its standalone digital bank for millennials.
China’s commitments in the Phase 1 trade deal with the United States were not changed during a lengthy translation process and will be released this week as the document is signed in Washington, US Treasury Secretary Steven Mnuchin said on Sunday.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
TECHNICAL PULSE
UOL Group Ltd
Recommended Action: Technical BUY
UOL Group (SGX: U14) bullish sentiment will continue based on the technical.
Webinar Of The Week
Market Outlook: : (PSR) Singapore 2020 Outlook, Phillip Absolute 10 and Technical Analysis
Date: 06 January 2020
Phillip Research in 3 minutes: #16- JEP Holdings Ltd
Updates summarised in 3 minutes
For more videos on Phillip in 3 Mins
Disclaimer |
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. |
Confidentiality Note |
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. |