Daily Morning Note – 19 June 2020

PHILLIP SUMMARY

Wall Street stocks finished little changed Thursday as investors weighed data showing stubbornly high jobless claims against optimism over the impact of monetary stimulus. The Dow Jones Industrial Average ended down 0.2 per cent at 26,079.90. The broad-based S&P 500 edged up 0.1 per cent to 3,115.32, while the tech-rich Nasdaq Composite Index gained 0.3 per cent to 9,943.05.

Another 1.5 million US workers filed new claims for unemployment benefits last week, the Labor Department said, a decrease of only 58,000 from the prior week and higher overall than analysts expected.

BREAKING NEWS

Environmental services company SIIC Environment Holdings clinched an operation-and-management project in China’s Zhejiang province in April, it said on Thursday.

Olam International has secured a US$250 million sustainability-linked loan, with interest margins tied to key performance indicators (KPIs).

Alibaba Pictures Group has been given the go-ahead to delist from the Singapore Exchange (SGX) mainboard, the board said on Thursday night. After the planned delisting, shares would be publicly traded only on the Stock Exchange of Hong Kong; the board said the Hong Kong bourse is “more geographically aligned with the business operations” of the media company in mainland China.

Singapore Exchange Regulation (SGX RegCo) has slapped Catalist-listed waste-management group Sen Yue Holdings with a notice of compliance, after an independent review suggested links between the chairman and some customers.

Best World International will hold its annual general meeting (AGM) for FY2018 on June 22, it confirmed on Thursday night, after receiving a final rejection of its request for more time to convene the meeting and lodge its annual return.

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

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