Daily Morning Note – 22 January 2019
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YOUR PHILLIP SUMMARY
European stock markets slipped with U.S. futures on Monday. U.S. markets shut for holiday; oil steadies near 2-month high.
Asian stocks saw muted trading early Tuesday as investors weighed the latest batch of headlines on global growth and trade, without any direction offered from American markets that were shut for a holiday Monday.
Shares were flat in Japan and dipped in Australia after stocks in Europe slipped on Monday. Contracts on the S&P 500 Index declined. The dollar steadied and bonds in Europe were mixed.
BREAKING NEWS
China’s economy slowed in Q4 to weakest pace since 2009 amid trade war.
China’s 2018 fixed-asset investment up 5.9%; and December industrial output up 5.7%.
Thailand’s December exports unexpectedly fell 1.72%.
ST Engineering’s Electronics arm secured S$351m contract Wins in 4Q2018, totalling S$2.19b for 2018.
Y Ventures Group Ltd has restated its accounts for half year ended 30 June 2018 and issued a profit guidance for the full year ended 31 December 2018.
China Everbright Water Limited has issued the third tranche of RMB-denominated corporate bonds with an aggregate principal amount of RMB700 million.
Chip Eng Seng Corporation Ltd has been awarded the tender for the land parcel at Kampong Java Road at a tender price of S$418,380,000 by the Urban Redevelopment Authority.
Source: SGXNet, The Business Times
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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