Daily Morning Note – 15 Oct 2019
WEEKLY MARKET OUTLOOK WEBINAR
Stocks ended slightly lower Monday as new worries around a U.S.-China trade agreement emerged.
The Dow closed down 29 points, while the S&P 500 shed 0.14% and the Nasdaq lost 0.1%.
Monday’s moves came after a surge for stocks in the previous session. The S&P 500 and Nasdaq both gained more than 1%. The Dow, meanwhile, rallied more than 300 points, or 1.2%.
KEPPEL Infrastructure Trust (KIT) on Monday reported a distribution per unit (DPU) of 0.93 Singapore cents for the third quarter of 2019 on improvements year-on-year in its distributable cash flow (DCF), revenue and net profits.
LIAN Beng Group saw its first-quarter net profit rise 21.3 per cent from the same period a year earlier despite a drop in gross profit, as associates’ losses swung into profits for the three months ended Aug 31.
Singapore real estate investment sales in the third quarter more than doubled to S$16.74 billion from S$6.7 billion in the previous quarter, on the back of a commercial sector surge from big ticket office transactions.
China wants further talks as soon as the end of October to hammer out the details of the “phase one” trade deal touted by Donald Trump before Xi Jinping agrees to sign it, according to people familiar with the matter, Bloomberg News reports.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
CK Hutchison Holdings Ltd
Recommended Action: Technical SELL
CK Hutchison Holdings Ltd (HK: 1) price weakness will continue despite a breakout of the secondary trend line.
Webinar Of The Week
Date: 14 October 2019
Phillip Research in 3 minutes: #14- Singapore Banking Sector
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