Daily Morning Note – 21 Aug 2019
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar.
Archived webinars available.
PHILLIP SUMMARY
The Dow Jones Industrial Average fell for the first time in four sessions on Tuesday, paring some of the strong gains from the previous session as recession fears lingered.
The 30-stock index closed 173.35 points lower, or 0.7%, at 25,962.44. The S&P 500 pulled back 0.8% to end the day at 2,900.51. The Nasdaq Composite slid 0.7% to 7,948.56. The major indexes fell to their session lows in the final minutes of the trading session as Treasury yields declined as well.
BREAKING NEWS
European shares fell on Tuesday after two sessions of robust gains as optimism over hopes of stimulus in major economies waned and investors awaited more guidance from central banks.
Wall Street stocks fell on Tuesday, snapping a three-session winning streak amid lingering unease over global growth and the US-China trade war.
SINGAPORE equities continued to sail ahead on Tuesday on investor hopes of accommodative central bank policies, fiscal stimulus by governments and what appears to be an easing of tensions between the US and China.
DIRECTORS and legal counsel of Pine Capital Group subsidiary Advance Capital Partners Asset Management (ACPAM) were replaced at an extraordinary general meeting (EGM) on Aug 12, Pine Capital announced in a Singapore Exchange filing on Tuesday.
SOILBUILD Business Space Reit tenant NK Ingredients, which owes almost S$3.4 million to the real estate investment trust, has been put under judicial management, said the Reit’s manager in a filing on Tuesday.
Three new firefighting vessels, including one the Singapore Civil Defence Force (SCDF) touted as the “world’s most powerful firefighting vessel”, was commissioned by Home Affairs and Law Minister K Shanmugam. SCDF worked closely with the Defence Science and Technology Agency, as well as local shipbuilders Penguin International and ST Engineering’s Marine arm. (https://www.youtube.com/watch?v=ctJRC0vQ0Fw)
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
TECHNICAL PULSE
China Petroleum & Chemical Corp
Recommended Action: Technical SELL
China Petroleum & Chemical Corp (0386 HK) downward bearish momentum will continue.
Webinar Of The Week
Date: 19 August 2019
Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research
| 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. |
