Daily Morning Note – 23 April 2020
PHILLIP SUMMARY
The overnight moves followed a bounce in U.S. equities during normal trading hours on Wednesday that helped pare the S&P 500′s 4.8% slide over Monday and Tuesday.
The Dow Jones Industrial Average rose 456.94 points, or 1.99%, to 23,475.82 during Wednesday’s session. The S&P 500 gained 2.29% to 2,799.31 while the Nasdaq Composite closed 2.8% higher at 8,495.38.
BREAKING NEWS
CHANGI Airport Group (CAG) is directing its focus towards air cargo, amid a significant reduction in passenger flights due to travel restrictions imposed in response to the novel coronavirus pandemic.
PARKWAY Life Real Estate Investment Trust’s (PLife Reit) distribution per unit rose 1.4 per cent to 3.32 Singapore cents for its first quarter ended March 31, from 3.28 cents a year ago.The increase was mainly due to additional revenue contribution from three Japan nursing rehabilitation facilities acquired in December 2019, rental growth of existing properties and financing cost savings.
SUNTEC Real Estate Investment Trust (Suntec Reit) on Wednesday posted a 27.7 per cent drop in distribution per unit to 1.76 Singapore cents for the first quarter ended March 31, 2020 from 2.434 cents a year ago.
KEPPEL Reit (real estate investment trust) has declared a distribution per unit (DPU) of 1.4 Singapore cents for the first quarter ended March 31, up a marginal 0.7 per cent from a DPU of 1.39 Singapore cents in the year-ago period, the reit’s manager announced on Wednesday after market close.
MAPLETREE Commercial Trust has declared a distribution per unit (DPU) of 0.91 Singapore cent for the fourth quarter ended March 31, compared with 2.31 Singapore cents in the year-ago period, despite a 10.5 per cent rise in distributable income.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
RESEARCH VIDEOS
Webinar Of The Week
Market Outlook: (PSR) SIA Capital Raising Exercise (Bonds), Banking Monthly, REITS Monthly, China Monthly, Technicals & Singapore 2Q20 Equity Strategy
Date: 13 April 2020
Phillip Research in 3 minutes: #21 – Singapore REITs Sector
For more videos on Phillip in 3 Mins
| 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 揳s 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. |
