Daily Morning Note – 18 September 2018


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Fresh trade fears emerged as China considers rejecting new trade talks if Presidents Donald Trump carries out his plan to unveil new tariffs on $200 billion in Chinese products. As investors turned cautious, US stocks slipped Monday to its biggest one-day loss since July, but remained near records as trade developments are perceived as incremental and having little impact on the US economy.

Shares in Hong Kong and China declined on news that President Donald Trump had instructed aides to proceed with tariffs on $200 billion in Chinese products.


CityDev Ltd – Daily timeframe – Bullish

– With the current bullish break above the 8.71 immediate range high, the RSI has
also risen back above the 30 oversold line suggests the start of the mean reversion
– Watch for subsequent bullish follow through for the rebound to play out for price
to test the 9.22 resistance area followed by 10.00.

For more information and additional disclosures, refer to the link here.


The White House announced that President Donald Trump will impose 10 percent tariffs on $200 billion worth of Chinese imports, and those duties will rise to 25 percent at the end of the year.

Electricity spot prices in India surged to a more than eight-year high because of lower quantum of traded power, higher demand amid a retreating monsoon. Prices touched ₹14.08 per unit for Tuesday on the India Energy Exchange (IEX). It was the highest since April 2010 when spot prices rose to ₹13.90 per unit. The all-time high for electricity in the spot market was ₹17 per unit in April 2009, according to IEX.

Developers in Singapore sold 616 private homes last month, down 64.3% month-on-month and 50.6% year-on-year. The decline comes on the back of a double whammy of property cooling measures that took effect on July 6 and the Hungry Ghost Festival in August when some would avoid entering into property deals.

Singapore-listed equity offerings totalled US$3.8 billion so far this year, a 6.1 per cent increase in proceeds compared to the first nine months of 2017 – the strongest first nine-month period since 2014.

CapitaLand Limited has invested US$25.9 million for a 70 per cent share in Indonesian company Green Oak Hotel Management (GOHM), one of Indonesia’s top five hotel operators. The Group also announced the acquisition of a portfolio of 16 multifamily properties in the United States for US$835 million. This marks the Group’s foray into the country’s multifamily asset class to ride on the growing demand for long-term rental housing.

China Everbright Water Ltd. has secured the Jiangsu Yangzhou Jiangdu Development Zone Industrial Waste Water Centralised Pre-treatment and Ancillary Pipeline Network Project which commands an investment of approximately RMB55 million.

Sembcorp Industries has signed a 20-year deal to supply solar power to support Facebook’s Singapore operations.

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

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

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