Daily Morning Note – 19 March 2019
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YOUR PHILLIP SUMMARY
More noise surrounding trade talks, U.S. stocks rallied for the fifth time in six days, and the Brexit drama continues.
After a 2.9 percent gain last week, the S&P 500 Index climbed to a five-month high as rising oil prices fueled an advance in energy shares. Financials and consumer stocks also advanced, while the Dow Jones Industrial Average fought to stay positive even as Boeing declined on reports that the U.S.
Asia stocks look ready to open higher as last week’s rally in U.S. shares continued into Monday. Equity benchmarks rose at the start of a week filled with potentially significant catalysts — from central bank meetings, geopolitical developments and economic data.
BREAKING NEWS
CapitaLand Commercial Trust, Singapore’s biggest office landlord, is among suitors in talks about a potential acquisition of the Duo office and retail development in the city, people with knowledge of the matter said.
The buyout offer for telco M1 Limited closed on Monday at 5.30pm, with the total number of shares acquired by offeror Konnectivity Pte Ltd representing approximately 94.55 per cent.
HYFLUX‘S restructuring agreement with SM Investments Pte Ltd may be terminated if defaults by Hyflux subsidiary Tuaspring Pte Ltd are not remedied within two weeks, the water treatment company said in a Singapore Exchange filing on Monday.
FIRST Sponsor Group has withdrawn its application for a rights issue involving warrants exercisable into convertible securities, after receiving regulatory feedback on the warrants’ suitability for distribution to retail investors, it said in a Singapore Exchange filing on Monday.
SINGTEL‘S cross-border mobile payments alliance VIA has added a new member, Japanese mobile payments technology firm Netstars, the telco announced on Monday.
CAPITALAND chief executive and president Lee Chee Koon, who assumed the top post in mid-September 2018, was rewarded with a remuneration package of about S$4.21 million for 2018, including for his role as group chief investment officer (CIO) in the earlier part of the year.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
Customers of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research.
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