Daily Morning Note – 26 March 2019
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar.
Archived webinars available.
YOUR PHILLIP SUMMARY
Stocks in Asia were set to open largely flat on Tuesday as concerns over the global economy continued to weigh on investor sentiment. A rally in Treasuries sent benchmark yields briefly below 2.4 percent for the first time since December 2017, while the dollar retreated.
The Dow Jones Industrial Average eked out a small gain on Monday after news that the special counsel found no collusion with Russia on the part of President Donald Trump. However, gains in the broader market were capped as worries over the global economy lingered. Worries over the global economic outlook were stoked on Friday and lingered through Monday after the yield curve inverted for the first time in more than a decade. Investors consider this to be a signal that a recession may be coming soon.
Apple Inc attempted to reintroduce itself on Monday as an entertainment and financial services company that also makes iPhones as it launched a streaming television service, a credit card and an online gaming arcade.
Singtel has brought McKinsey’s former managing director on board its board.
Sabana Reit’s manager has received a notice of rescission from the purchaser of a Tuas industrial building to rescind the sales and purchase agreement.
Perx Technologies, a customer engagement startup, has raised US$5 million in Series B funding from LINE Ventures, early-stage venture capital firm Access Ventures, South Korean investment firm NCore Ventures and family offices. Returning investors include Facebook co-founder Eduardo Saverin and Capital Management Group.
Real estate agency OrangeTee & Tie has partnered Germany-headquartered startup Helpling to allow its agents to access home services through the firm’s Agent App.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, 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.|