Daily Morning Note – 25 Nov 2019
WEEKLY MARKET OUTLOOK WEBINAR
The Dow climbed 0.4%, to close at 27,875.62. The S&P 500 gained 0.2% to end the day at 3110.29. The Nasdaq Composite advanced 0.2% to 8519.88. Stocks notched slight gains during Friday’s session, but trade uncertainty still led to the market’s first weekly drop since October. The S&P 500 ended the week lower by 0.3%.
President Donald Trump told Fox News that a trade deal between China and the U.S. was close. His comments came after Chinese President Xi Jinping said Friday that Beijing wants to work for a trade deal with the U.S. but is not afraid to “fight back.
U.S. business activity improved in both the manufacturing and service sectors in November, according to a report Friday from IHS Markit. The U.S. flash manufacturing PMI rose to 52.2 for the month, above expectations for 51.4 and the month prior’s 51.3. Manufacturers saw the biggest rise in new orders since April, “with goods producers signaling a further recovery from the slowdown seen earlier in the year,” IHS Markit said in a statement. The services PMI improved by one point from October to 51.6, ahead of expectations for a reading of just 51.0. The increase was driven by an uptick in new client demand and job creation, IHS Markit said.
THE executive chairman of mainboard-listed, Myanmar-focused investment holding company Yoma Strategic will still hold a stake of at least 25 per cent, even with recent investment plans by Philippine conglomerate Ayala Corp, the board disclosed on Sunday evening.
MAINBOARD-LISTED Procurri Corp has accepted a letter of intent from a would-be buyer of its third-party hardware maintenance business, the board said on Friday evening.
CATALIST-LISTED developer Hatten Land‘s plans to raise some S$5.1 million from a share placement will take a little longer than expected, the board disclosed on Saturday.
Hatten Land asked the bourse for, and was given, an extension of five market days – that is, until Nov 29 – to complete the placement of 56.5 million new shares to construction and property management businessman Yang Tse Pin’s Kingpin Investment Pte Ltd.
OFFSHORE and marine service provider Ezion Holdings is divesting two companies by Nov 30 to streamline its assets and cut costs, its board said in a bourse filing on Friday night.
THE mandatory offer for Catalist-listed ISEC Healthcare is “not fair but reasonable”, independent financial adviser CIMB Bank Berhad said, in an opinion released on Friday night.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
Recommended Action: Technical BUY
Capitaland Ltd (SGX: C31) bullish trend will likely continue based on the technical.
Singapore REITs Monthly – Monthly Tracker: November 2019
Recommendation: NEUTRAL (Maintained), Analyst: Natalie Ong
– FTSE S-REIT index return declined 2.2% MTD and gained 23.0% YTD. Strongest gains were from the Healthcare sector (1.46% MTD) and weakest showing from the Hospitality sector (-3.14% MTD).
– Sector yield spread grew 4bps MoM to 282bps, -0.96 standard deviation (s.d.) over the benchmark 10-year SGS (10YSGS) yield.
– 3-month SOR fell 6bps to 1.51% at 15 November 2019 versus 1.57% last month. Elevated P/NAVs expected to persist in the lower interest rate environment.
– Remain NEUTRAL on S-REITs sector. Sub-sector preferences: Commercial and Hospitality.
Webinar Of The Week
Date: 18 November 2019
Phillip Research in 3 minutes: #16- JEP Holdings Ltd
|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.|