Daily Morning Note – 13 September 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar.
Archived webinars available.
YOUR PHILLIP SUMMARY
The Dow Jones Industrial Average and the S&P 500 posted small gains on Wednesday amid the possibility of renewed trade talks between the U.S. and China. The U.S. is in the process of proposing a new round of trade talks with China in the near future, various news sources reported.
Meanwhile, Apple unveiled its newest iPhones Wednesday: the iPhone XR, starting at $749; iPhone Xs, starting at $999, and iPhone Xs Max, starting at $1,099. The iPhone Xs and Xs Max will be available for pre-order on Friday. They will ship on Sept. 21. The iPhone XR will be available for preorder on Oct. 19 and will ship a week later. Apple shareswas down 1.2% at market close.
Back in Singapore, the tender for Horizon Towers – the first major en bloc exercise to close after July’s property cooling measures – ended on Wednesday without a single bid.
TECHNICAL PULSE
STI – Daily timeframe – Bullish
– With the current Bullish Engulfing Bar rejection off the 3100 psychological support
area, the RSI has also risen back above the 30 oversold region suggests the start of
the mean reversion higher.
– Expect price to rebound higher next if the bullish follow through happens for price
to test the 3189 resistance area followed by 3263.
For more information and additional disclosures, refer to the link here.
BREAKING NEWS
Retail sales decreased 2.6% year-on-year in July 2018, due mainly to lower motor vehicle sales. Excluding motor vehicles, retail sales increased marginally by 0.2% year-on-year. Sales of food & beverage services decreased 0.3% year-on-year in July 2018.
Sasseur Group, the Sponsor of Sasseur REIT, has signed a Memorandum of Strategic Partnership with Secoo Holdings. Secoo Holdings is Asia’s largest integrated online platform for upscale products and services and one ofSasseur REIT’s strategic cornerstone investors. Sasseur Group and Secoo Holdings will each be tapping on their respective expertise in offline and online retail to develop an integrated omni-channel network targeting the growing luxury consumer market in China.
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
| 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. |
