Daily Morning Note – 22 Nov 2019
WEEKLY MARKET OUTLOOK WEBINAR
PHILLIP SUMMARY
The Dow Jones Industrial Average was down 100 points, or 0.4%. The S&P 500 and Nasdaq Composite were also down 0.4% each. The Dow and S&P 500 were headed for their third straight decline. Amazon and Alphabet led the decline, dipping 0.4% and 0.6%, respectively. Travelers and Procter & Gamble were the biggest losers in the Dow as both fell more than 1%.
BREAKING NEWS
SPH Reit has launched a private placement to raise at least S$161.5 million to partially fund its proposed A$670 million (S$627.9 million) acquisition of a 50 per cent stake in a shopping centre in South Australia.
Singapore agribusiness Wilmar International hopes to receive regulatory approval early next year for the initial public offering of its China business, Yihai Kerry Arawana Holdings (YKA), it said on Thursday.
US home sales increased more than expected in October and house prices rose at the fastest pace in more than two years amid lower mortgage rates and a shortage of properties for sale.
Embattled office sharing firm WeWork will lay off 2,400 employees worldwide – about a fifth of its workforce – as the it struggles to reorganise amid mounting losses, the company announced Thursday.
Billionaire businessman Michael Bloomberg, yet to officially declare himself a presidential candidate, took another step towards a run at the White House on Thursday by registering with the US Federal Election Commission.
India will defer spectrum payments due from telecommunications companies for two years to help an industry ravaged by a years-long price war, mounting debt and a court decision last month demanding US$13 billion in overdue fees.
CHINA Railway 11 Bureau Group Corporation (Singapore Branch) has snagged a S$739.5 million civil contract to design and construct Tengah Depot and associated facilities, the Land Transport Authority (LTA) announced on Wednesday evening.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
TECHNICAL PULSE
Singapore Telecommunications Ltd
Recommended Action: Technical SELL
Singtel Ltd (SGX: M04) bearish trend will likely continue despite the strong move on the 20th of November 2019 due to the technical.
Webinar Of The Week
Market Outlook: : (PSR) DBS, ECWREIT, APAC Realty Ltd, PropNex, Singtel & SG Weekly
Date: 18 November 2019
Phillip Research in 3 minutes: #16- JEP Holdings Ltd
Updates summarised in 3 minutes
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