Daily Morning Note – 22 May 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar today.
Archived webinars available.
CityDev Ltd – Daily timeframe – Bullish
– The subsequent bullish rejection off the 11.78 support area on 21/05/18 lifted
the RSI back above the 30 oversold region signals a mean reversion higher is
– Expect a reversal higher next into the uptrend for price to test the 12.92
resistance area followed by 13.53.
For more information and additional disclosures, refer to the link here.
China’s government on Monday praised a significant cooling of trade tensions with the United States, saying agreement was in both nations’ interests while state media trumpeted what it saw as Beijing’s refusal to surrender to US economic threats. However, China relief, elicited mixed reactions from US business leaders.
The Bank of Japan (BOJ), acting as the agent for the Minister of Finance of Japan, and the Monetary Authority of Singapore (MAS) have renewed the existing bilateral swap arrangement (BSA). The arrangement enables the authorities in Japan and Singapore to swap their local currencies in exchange for US dollars from each other in times of need.
US crude hit its highest level since 2014 on Monday amid rising concerns that Venezuela’s oil output could fall further following the country’s presidential election and potential sanctions on the Opec-member nation.
Ascendas Hospitality Trust (A-HTRUST) completes acquisition of hotel in South Korea, master lease agreement inked. A-HTRUST – through Ascendas Hospitality Business Trust – entered into a sale and purchase agreement with KY-Development Co to acquire a majority stake in KY-Heritage Hotel Dongdaemun for 72.1 billion won.
A unit of the BreadTalk Group has entered into a joint venture (JV) with Shenzhen Pindao Food & Beverage Management (Pindao) to bring popular tea brands Nayuki and Tai Gai to Singapore and the region. Wholly owned BreadTalk subsidiary Together Inc will take a 90 per cent stake in the JV – called BTG-Pindao Venture – with Pindao holding the remaining 10 per cent.
Construction and property developer Tiong Seng Holdings announced on Monday that it has bagged a S$47.68 million contract with the Ministry of Health to build a 10-storey polyclinic and long-term care facility at Balestier and Serangoon Roads.
Source: SGX Masnet, Bloomberg, Channel NewsAsia, Reuters, The Business Times, PSR
Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research
|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.|
|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.|