Daily Morning Note – 18 March 2019

WEEKLY MARKET OUTLOOK WEBINAR

Register HERE for MONDAY’s 11.15am webinar.

Archived webinars available.

YOUR PHILLIP SUMMARY

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


RESEARCH REPORT

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


BREAKING NEWS

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

Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research

Read the research report(s), available through the link(s) above, for complete information including important disclosures

Important Information

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.