Daily Morning Note – 28 April 2020
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.
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
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.
Webinar Of The Week
Date: 27 April 2020
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