Daily Morning Note – 13 Nov 2019
WEEKLY MARKET OUTLOOK WEBINAR
The S&P 500 climbed 0.2% to 3,091.84, hitting a fresh intraday record. The Nasdaq Composite advanced 0.3% to 8,486.09, notching intraday and closing records. The Dow Jones Industrial Average, meanwhile, closed completely unchanged at 27,691.49 after coming within a whisker of hitting an all-time high.
Gold slipped on Tuesday to its lowest in more than three months on increased appetite for riskier assets, while U.S. President Donald Trump failed to provide any information on the trade deal with China in his speech.
US stocks ended mixed on Tuesday but the Nasdaq posted a new record even though investors still have not received clarity on an agreement to end the US-China trade war.
NET loss for Ezion Holdings swelled to US$75.4 million in the third quarter ended Sept 30 from a net loss of US$8.06 million a year ago, it announced in a Singapore Exchange filing on Tuesday.
Raffles Education Corporation narrowed its net loss for the first quarter to S$8 million versus S$19.8 million a year ago as revenue picked up, it announced on Tuesday.
Net profit for Centurion Corporation rose 21 per cent to S$8.8 million in the third quarter ended Sept 30, the student and worker dormitory operator said in a Singapore Exchange filing on Tuesday.
MAINBOARD-LISTED food and beverage player BreadTalk Group has posted an 81 per cent drop in its third-quarter net profit, weighed down by an over 34 per cent spike in distribution and selling expenses.
City Developments Limited’s (CDL) third-quarter net profit sank 33.7 per cent year-on-year to S$114.96 million, weighed down by impairment losses and transaction costs arising from Millennium & Copthorne Hotels’ (M&C) delisting last month.
CATALIST-LISTED investment firm Pine Capital, which had recently been in a legal tussle with its former chairman, expects to post a wider net loss for the half-year ended Sept 30.
CROMWELL European Reit (Cromwell E-Reit) on Tuesday reported that its distribution per unit (DPU) for the third quarter ended Sept 30 rose 1 per cent to 1.01 euro cents from one cent a year ago.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
Jardine Strategic Holdings Ltd
Recommended Action: Technical BUY
JSH (SGX:J37) bullish sentiment might be resume based on the technicals.
CRRC Corp Ltd
Recommended Action: Technical BUY
CRRC (HK: 1766) will most likely heading for a upside before resuming its dominant bearish activity based on the technicals
Webinar Of The Week
Market Outlook: : (PSR) Hyphens Pharma, Uunited Overseas Bank Limited (UOB), CapitaLand Mall Trust, Frasers Centrepoint Trust, Sheing Siong Group, Phillip SG Weekly, US Weekly, US Banking & Technical Analysis
Date: 04 November 2019
Phillip Research in 3 minutes: #16- JEP Holdings Ltd
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