Daily Morning Note – 28 April 2020
PHILLIP SUMMARY
Wall Street stocks finished solidly higher on Monday on optimism about steps to reopen the economy in the first session of a heavy week of earnings and economic news. The Dow Jones Industrial Average gained 1.5 per cent to end the day at 24,133.78. The broad-based S&P 500 also rose 1.5 per cent to 2,878.48, while the tech-rich Nasdaq Composite Index advanced 1.1 per cent to finish at 8,730.16. Several governments in Europe eased restrictions as coronavirus cases have stabilised, and more US states have either resumed some activities or set timeframes for doing so.
BREAKING NEWS
Mapletree Industrial Trust’s (MIT) distribution per unit (DPU) stood at 2.85 Singapore cents for the fourth quarter ended March 31, down 7.5 per cent from 3.08 cents a year ago.
Singapore Press Holdings (SPH) announced after trading hours on Monday that it will be divesting its wholly-owned subsidiary Buzz Shop to Thai-Pore Enterprise for an undisclosed sum.
Lippo Malls Indonesia Retail Trust (LMIRT) will be extending the closure of its 23 retail malls and seven retail spaces in Indonesia until May 13, in respect of the large-scale social restrictions imposed by Indonesia’s health ministry.
Raffles Medical Group‘s profit after tax almost halved in the first quarter this year as its China healthcare division was “severely impacted” by the Covid-19 pandemic, the integrated healthcare provider announced in a bourse filing on Monday.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
TECHNICAL PULSE
Yanlord Land Group Ltd
Recommended Action: Technical SELL
Yanlord Land Group (SGX: Z25) has been on a downtrend since the share price broke below the support level of 1.06 in early March 2020…Further technical actions indicate a return of the bearish downfall.
>> Read more technical reports
RESEARCH VIDEOS
Webinar Of The Week
Date: 27 April 2020
Phillip Research in 3 minutes: #21 – Singapore REITs Sector
For more videos on Phillip in 3 Mins
Disclaimer |
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 揳s 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. |