Daily Morning Note – 14 Nov 2019
WEEKLY MARKET OUTLOOK WEBINAR
PHILLIP SUMMARY
Overnight, the MSCI Asia Pacific Index rose 0.2% while Japan’s Topix Index closed 1% higher. Stock markets in China and Hong Kong were closed for the start of a week-long holiday. In Europe, the Stoxx 600 Index was 0.3% lower at 5:45 a.m. Eastern Time, as equities reversed gains following weak economic data. S&P 500 futures pointed to a gain at the open, the 10-year Treasury yield was at 1.737% and gold continued its recent run of losses.
BREAKING NEWS
The Dow and S&P 500 floated higher on Wednesday, inching to fresh records despite multiplying reports that US and Chinese trade officials are still struggling to conclude a partial bargain.
EAGLE Hospitality Trust’s (EHT) distributable income (DI) for the three months ended Sept 30 was US$14.4 million, down 1.2 per cent from the US$14.5 million projected at the point of listing, the real estate investment trust (Reit) announced on Wednesday.
YANGZIJIANG Shipbuilding’s third-quarter net profit slid 10 per cent year-on-year to 702.3 million Chinese yuan (S$136.3 million) amid an overall weak market.
TUAN Sing Holdings‘ Q3 net profit plunged 95 per cent to about S$206,000 from S$3.8 million a year ago, the property developer announced on Wednesday.
Net profit for Hong Leong Finance’s third quarter ended Sept 30 dived 35.7 per cent to S$23.6 million from S$36.7 million a year ago, it reported in a Singapore Exchange filing on Wednesday.
OUE Commercial Reit (OUE C-Reit) on Wednesday posted a third-quarter distribution per unit (DPU) of 0.79 Singapore cent, up 43.6 per cent from a DPU of 0.55 cent for the same period a year earlier, thanks to gains from its merger with OUE Hospitality Trust in September.
ACCORDIA Golf Trust’s distribution per unit (DPU) for the half-year ended Sept 30 rose 54.5 per cent to 2.07 yen (2.61 Singapore cents), from 1.34 yen a year ago, the highest distribution since the trust was listed in August 2014.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
TECHNICAL PULSE
Jardine Strategic Holdings Ltd
Recommended Action: Technical SELL
JMH (SGX:J36) is resuming its bearish sentiment based on its technical.
United Overseas Bank Ltd
Recommended Action: Technical SELL
UOB (SGX:U11) bearish sentiment is staging a comeback based on its technicals
Webinar Of The Week
Date: 04 November 2019
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. |