Daily Morning Note – 21 August 2018
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YOUR PHILLIP SUMMARY
On Monday, the S&P 500 added 6.92 points, or 0.2%, to 2857.05, bringing it 0.6% below its January record. The tech-heavy Nasdaq Composite edged up 4.68 points, or less than 0.1%, to 7821.01. U.S. stocks were lifted by investors optimism on the easing of trade war, while Treasuries advanced ahead of a meeting of central bankers later this week. The Dow Jones Industrial Average rose to its highest level since early February. The S&P 500 Index advanced for a third day to close within 15 points of a record.
In Asia, stocks were mostly higher with Hong Kong’s Hang Seng adding 1.4%, while the Shanghai Composite Index rose 1.1% after five sessions of declines.
Spackman Entertainment Group announced that Han Ji-an, an emerging Korean actress under the Company’s wholly-owned subsidiary, Constellation Agency Pte. Ltd., will headline a new Korean drama, SO I MARRIED AN ANTI-FAN.
Profit Guidance: Dukang Distillers Holdings Limited expects its overall revenue and earnings to be significantly lower for the financial year ended 30 June 2018 (FY2018) compared to the financial year ended 30 June 2017 (FY2017).
Sarine Technologies Ltd announced that it has entered into an agreement with Clara Diamond Solutions Corporation, a subsidiary of Lucara Diamond Corp., a Vancouver-based diamond mining producer which aims to change the way certain rough diamonds are sold.
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
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