Daily Morning Note – 27 Aug 2019

WEEKLY MARKET OUTLOOK WEBINAR

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PHILLIP SUMMARY

Stocks in Asia traded higher on Tuesday as investors watch for developments on the U.S.-China trade front following a recent escalation in tensions.

US Stocks jumped on Monday after President Donald Trump said China is ready to come back to the negotiating table following a phone call Sunday.

Source: CNBC


BREAKING NEWS

An Oklahoma judge on Monday ordered US health care giant Johnson & Johnson to pay US$572 million in damages for its role in fostering the state’s opioid addiction crisis.

Walt Disney Co and Target Corp announced a collaboration on Sunday that will open 25 Disney stores inside select Target locations nationwide on Oct 4, with plans for 40 additional sites by October next year.

G-7 leaders meeting in France on Monday backed Hong Kong’s autonomy as laid out in a 1984 agreement between Britain and China and called for calm in the protest-hit city.

Wall Street on Monday recovered a chunk of last week’s sharp losses, with investors finding some comfort in President Donald Trump’s rosy talk of a China trade deal.

Pre-Conditional Offer Announcement was made by Aier Eye Hospital Group (listed on Shenzhen Stock Exchange) to acquire all the shares of ISEC Healthcare Ltd for S$0.35 per share.

Singapore shares drop 1.5% on Monday; in the red for 2019.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR

TECHNICAL PULSE

Sand China Ltd

Recommended Action: Technical BUY

Sands China (HK: 1928) have been moving within a range since the start of 2019. We expect a bullish reversal based on the technicals

Read more technical pulse

RESEARCH REPORTS

Ascott Residence Trust – Resilience of hybrid hospitality

Credit View, analyst – Timothy Ang

Ascott Residence Trust (ART) is a Singapore-listed hospitality trust that owns and operates serviced residences, rental housing properties and other hospitality assets. As of 30 June 2019, its total assets stand at S$5.5b comprising of 74 properties with >11,700 units in 14 countries. ART is managed by Ascott Residence Trust Management Limited, a wholly owned subsidiary of CapitaLand Limited.

(+) Strong credit profile

(+) Income stabilized by hybrid hospitality operating model

(-) Substantial room supply hitting key markets, however diversified portfolio reduces impact


Read more research reports

Webinar Of The Week

Market Outlook: : (PSR) Golden Energy and Resources Ltd, CapitaLand Limited, Singapore REITs Monthly, Phillip US/China Weekly, Phillip Singapore Weekly & Technical Outlook

Date: 26 August 2019

For more on Market Outlook

Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research

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





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IMPORTANT INFORMATION

This material is provided by Phillip Capital Management (S) Ltd (“PCM”) for general information only and does not constitute a recommendation, an offer to sell, or a solicitation of any offer to invest in any of the exchange-traded fund (“ETF”) or the unit trust (“Products”) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You should read the Prospectus and the accompanying Product Highlights Sheet (“PHS”) for key features, key risks and other important information of the Products and obtain advice from a financial adviser (“FA“) pursuant to a separate engagement before making a commitment to invest in the Products. In the event that you choose not to obtain advice from a FA, you should assess whether the Products are suitable for you before proceeding to invest. A copy of the Prospectus and PHS are available from PCM, any of its Participating Dealers (“PDs“) for the ETF, or any of its authorised distributors for the unit trust managed by PCM.  

An ETF is not like a typical unit trust as the units of the ETF (the “Units“) are to be listed and traded like any share on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing on the SGX-ST does not guarantee a liquid market for the Units which may be traded at prices above or below its NAV or may be suspended or delisted. Investors may buy or sell the Units on SGX-ST when it is listed. Investors cannot create or redeem Units directly with PCM and have no rights to request PCM to redeem or purchase their Units. Creation and redemption of Units are through PDs if investors are clients of the PDs, who have no obligation to agree to create or redeem Units on behalf of any investor and may impose terms and conditions in connection with such creation or redemption orders. Please refer to the Prospectus of the ETF for more details.  

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Where applicable, fund(s) may invest in financial derivatives and/or participate in securities lending and repurchase transactions for the purpose of hedging and/or efficient portfolio management, subject to the relevant regulatory requirements. PCM reserves the discretion to determine if currency exposure should be hedged actively, passively or not at all, in the best interest of the Products.  

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