Daily Morning Note – 27 Aug 2019


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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


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


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


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

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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

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