Daily Morning Note – 17 September 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar.
Archived webinars available.
YOUR PHILLIP SUMMARY
With the latest move from President Donald Trump to place further tarrifs on about $200 billion Chinese products, stocks in Asia is likely to start off the week under pressure. On Friday, the S&P 500 finished flat as financial and energy shares rose, while 10-year treasury yield hit 3 percent.
Egypt’s main stocks experienced a selloff on Sunday which saw the index dropping the most since January. The selloff was sparked by the arrests of former President Hosni Mubarak’s two sons, EFG-Hermes’s non-executive vice chairman and Citadel Capital SAE’s investor relations head, in a case related to stock manipulation.
Hong Kong’s stock exchange is expected to resume trading with the lowering of the signal rating for Typhoon Mangkhut.
BREAKING NEWS
The yield on the benchmark 10-year Treasury note topped 3 percent on Friday for the first time since Aug. 2. Yields have been steadily rising since the start of September as expectations for economic growth creep higher.
President Donald Trump is reported to be readying a fresh round of tariffs on Chinese goods ahead of scheduled trade talks with Beijing, affecting $200 billion worth of goods. The new tariff was reported to be set at 10 percent, below an original figure of 25 percent floated by the administration earlier.
The buyer for IFS Capital Ltd.’s proposed disposal of the property located at 7 Temasek Boulevard #10-01/02/03 Suntec Tower One, has exercised his option to purchase.
Far East Organisation is reported to be in advanced talks to buy the 191-room Le Meridien in Sentosa for about S$163mn. The group, together with its sponsored trust, Far East Hospitality Trust, is developing three hotels nearby on Sentosa island, with a total of 839 rooms.
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. |
