Daily Morning Note – 13 July 2018
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TECHNICAL PULSE
Genting Sing Ltd – Daily timeframe – Bullish
– The subsequent bullish follow through on 12/07/18 have also broken above
the pullback line suggests the resumption of the uptrend.
– Expect price to head higher next to test the 1.32 resistance area by 1.39.
For more information and additional disclosures, refer to the link here.
BREAKING NEWS
The US Labor Department reported US consumer inflation at a six-year high in June, due to rising prices for food, gasoline, shelter and medical.
Singapore Advance GDP Estimates for 2Q 2018: The economy grew 3.8% on a year-on-year basis, moderating from the 4.3% growth in the previous quarter. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy expanded at a slower pace of 1.0% compared to the 1.5% growth in the preceding quarter.
Singapore Retail Sales for May 2018: Retail sales increased 0.1% on a year-on-year basis, due partly to lower motor vehicle sales. Excluding motor vehicles, retail sales rose 2.2% year-on-year.
Accordia Golf Trust (AGT) has closed three of its gold courses in western Japan due to public road closures against possible landslides and repair works resulting from flash flooding and landslides. Several of AGT’s golf courses also suffered damage, but there was no material impact.
Frasers Property Limited is acquiring 75% of the issued capital of Phu An Dien Real Estate Joint Stock Company for VND799 billion (S$47.3 million).
Alliance Mineral Assets Limited announced that Regal Funds Management Pty Ltd, being a substantial shareholder of the Company, intends to vote in favour of the Scheme Resolutions for the proposed merger with Tawana Resources NL.
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
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