Daily Morning Note – 15 August 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar.
Archived webinars available.
YOUR PHILLIP SUMMARY
The Dow and S&P 500 snap four-day losing streaks as the Turkish lira rebounded 8 percent against the dollar. Emerging-market stocks also rise for the first time in five sessions, as Turkish stocks surge more than 11 percent.
In the U.S., Tech shares contributed to the gains as Apple and Amazon rose 0.4 percent and 1.2 percent, respectively.
Meanwhile, Warren Buffett’s Berkshire Hathaway increased its stake in Apple, Goldman Sachs, Delta, Southwest and Teva according to a regulatory filing that discloses positions through the end of the second quarter. Berkshire cut its holdings in Phillips, Wells Fargo, Charter Communications, American Airlines and United Continental.
Dasin Retail Trust – Grounding on healthy operating metrics
Recommendation: Accumulate (Downgraded), Last Done Price: $0.90
Target Price: S$0.97 (Maintained), Analyst: Tara Wong
– Revenue in line with and NPI exceeded our expectations for 2Q18. Boost in
revenue from the acquisition of Shiqi Metro Mall in June 2017. Organic growth
was 10.4% YoY.
– Strong 100% occupancy and well-spread WALE (by GRI) of 4.07 years.
– Increase in gearing due to revaluation of investment properties.
Hi-P Ltd – Daily timeframe – Bullish
– With the current bullish rejection, the RSI has recovered back above the 30
oversold region signals the start of a mean reversion higher next.
– Expect price to rebound next to retest the 1.15 resistance area followed by
For more information and additional disclosures, refer to the link here.
Dow, S&P 500 halt 4-session skid as Turkish lira angst takes a breather. The Dow Jones Industrial Average DJIA, +0.45% rose 0.5% at 25,300 (on a preliminary basis), the S&P 500 index SPX, +0.64% added 0.6% to 2,839. The technology-laden Nasdaq Composite Index COMP, +0.65% meanwhile, finished with a 0.7% higher at 7,871.
Oil slips as strong dollar pressures, equities gains support. il prices edged lower on Tuesday, weighed down by a strengthening US dollar as investors remained concerned about the financial crisis in Turkey. Brent crude dipped 15 cents to settle at US$72.46 a barrel, while US West Texas Intermediate (WTI) crude futures fell 16 cents to close at US$67.04 a barrel.
Europe: Britain’s FTSE dips, miners weigh as Turkey crisis eases. The FTSE 100 closed down 0.4 per cent while the pan-European Stoxx 600 was flat.
US import prices flat; US dollar curbing imported inflation. The Labor Department said on Tuesday the flat reading in import prices last month followed an upwardly revised 0.1 per cent drop in June. Import prices were previously reported to have declined 0.4 per cent in June.
US denies China policy change after Taiwan leader speech in LA. President Donald Trump’s administration denied Tuesday any change to its “One-China” policy after Taiwan President Tsai Ing-wen made a political speech in the US, the first time in 15 years a Taiwanese leader has done so.
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
|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.|
|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.|