Daily Morning Note – 26 Sep 2019



Stocks rose on Wednesday after President Donald Trump said a U.S.-China trade deal could arrive sooner than expected. Investors also pored through a rough transcript of Trump’s call with the Ukrainian president from earlier this year.

The Dow Jones Industrial Average closed 162.94 points higher, or 0.6% to 26,970.71. The S&P 500 gained 0.6% to end at 2,984.87 while the Nasdaq Composite climbed 1.1% to 8,077.38.

Treasury yields rose on Wednesday after President Donald Trump released a rough transcript of his now-controversial conversation with the Ukranian president.

The memo appeared less harmful than some investors had first feared, sending traders back into riskier assets like equities and away from safer bets like U.S. debt.


US President Donald Trump on Wednesday said Washington and Tokyo had taken a major step towards sealing a comprehensive new trade deal, after a year of negotiations between the global economic powers.

The Federal Reserve Bank of New York on Wednesday announced it will increase Thursday’s money market cash injections as it seeks to keep short-term interest rates under control. Banks this week have repeatedly asked for more overnight cash than the New York Fed offered to help financial institutions meet minimum reserve levels.

British Prime Minister Boris Johnson said on Wednesday he would not seek an extension to Brexit even if the conditions of a recently passed bill were met, forcing him to do so.

The European Central Bank said on Wednesday that Sabine Lautenschlaeger would resign from its executive board at the end of October, amid tensions over its president Mario Draghi’s extraordinary stimulus measures.

The tender for Singapore’s largest private residential site, Braddell View estate, has closed without any bids after it was relaunched for collective sale at an unchanged price of S$2.08 billion.

SLB Development has entered into a share sale and purchase agreement to divest the entire share capital of Wellprime, its wholly-owned subsidiary which owns a property at 50 Lorong 21 Geylang for S$13.5 million.

Consumer group Fraser and Neave (F&N) has commenced operations of Emerald Brewery Myanmar, marking its return to the Myanmar beer market. Emerald Brewery, a joint-venture between F&N and local partners, has established a greenfield brewery located in Hlegu Township in Yangon, to brew Chang Lager Beer.

Guocoland has broken ground for the first phase of its RMB 7.5 billion yuan (S$1.45 billion) mixed-use development, Chongqing 18 Steps project, located in the Yuzhong District of Chongqing, China. Chongqing 18 Steps comprises residential and commercial components with a total gross floor area (GFA) spanning 341,000 square metres (sq m).

Source: The Business Times

Webinar Of The Week

Market Outlook: : (PSR) 2019-09-23 KDC REIT, China/US Weekly, COSTCo, SG weekly, Technicals Outlooks

Date: 23 September 2019

For more on Market Outlook

Phillip Research in 3 minutes: #14- Singapore Banking Sector

Updates summarised in 3 minutes

For more videos on Phillip in 3 Mins

Read the research report(s), available through the link(s) above, for complete information including important disclosures Important Information

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.
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.


Contact us to Open an Account

Need Assistance? Share your Details and we’ll get back to you