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
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