Daily Morning Note – 18 March 2019


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Asian equity futures are all pointing higher after global shares had their best performance in almost four months last week, with the MSCI World Index climbing 2.8 percent. Almost all G-10 currencies rose against the dollar on Friday, led by the Swedish krona. Ten-year Treasury yields fell four basis points on soft economic data. Oil ended slightly down, snapping a four-day rally, and gold gained.

This week precious metals traders will be monitoring the tone in the U.S. dollar ahead of a Federal Reserve meeting expected to shed more light on the outlook for U.S. interest rate hikes this year. The Fed is widely expected to keep monetary policy unchanged at the end of its two-day policy meeting on Wednesday and policymakers will also update their projections for future rate hikes.

The US Dollar fell broadly on Friday and was set for its biggest weekly drop in more than three months, dragged lower by weak US economic data. US manufacturing output fell for a second straight month in February and factory activity in New York state was weaker than expected this month, offering further evidence of a sharp slowdown in economic growth early in the first quarter.

Source: Bloomberg, Investing.com, The Business Times


Singapore Coal Monthly – Indonesian coal to see a new opportunity

Recommendation: OVERWEIGHT, Analyst: Chen Guangzhi

– China restricted Australian coal imports

– Approval for the resumption of work in coal mines in Yulin City in Shannxi

– Demand for Indonesian thermal coal heats up


Water treatment company Hyflux has tossed out some of the claims filed against it after adjudication, but the bulk of the S$3.59 billion demanded by some 74 groups of claimants still stands.

Mainboard-listed mineral and resources company Abterra’s Australian mining unit, which has now been placed under liquidation, owes the company more than previously disclosed, the board has said.

A Chinese unit of Catalist-listed OUE Lippo Healthcare is seeking legal advice after its claims against a former legal representative were dismissed by a Shanghai court, the board disclosed on Saturday night.

The managing director of a key Ayondo unit in Germany has stepped down, the Catalist-listed trading platform developer disclosed on Saturday morning.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR

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