Daily Morning Note – 28 March 2018

WEEKLY MARKET OUTLOOK WEBINAR

Register HERE for MONDAY’s 11.15am webinar if you have not already done so.

Archived webinars available.

TECHNICAL PULSE
Singpost Ltd – Daily timeframe – Bullish
– The bullish follow through on 27/03/18 also broke price back above the 20, 60 day
moving average and downtrend line with increasing volume suggests a possible
sign of reversal to the upside.
– Expect the uptrend to resume next for price to test the 1.45 resistance area
followed by 1.55.

For more information and additional disclosures, refer to the link here.

BREAKING NEWS

The Nasdaq composite fell 2.9 percent to 7,008.81. The S&P 500 pulled back 1.7 percent 2,612.62, with tech sliding 3.5 percent and posting its worst day since Feb. 8. The Dow Jones industrial average closed 344.89 points lower at 23,857.71 and re-entered correction territory.

Oil extended its slide following an industry report that American crude storage surged. An American Petroleum Institute tally on Tuesday was said to show a 5.32-million-barrel jump, way higher than expected. West Texas Intermediate crude for May delivery fell 90 cents, or 1.4 percent, to $64.65 at 4:55 p.m.

U.S. Weighs Use of Emergency Law to Curb Chinese Takeovers. The Trump administration is considering a crackdown on Chinese investments in technologies the U.S. deems sensitive by invoking a law reserved for national emergencies, among other options.

German Chancellor Angela Merkel called for dialogue on trade policy between the European Union and the United States in a telephone call with US President Donald Trump on Tuesday.

Lazada’s LiveUp membership to lose Uber and Uber Eats, new tie-ups with ofo and Chope.

Sasseur Reit IPO is more than 3.7 times subscribed.

LIAN Beng Group has restructured its businesses and will be spinning off its property development unit, SLB Development, to be listed on the Catalist Board of the Singapore Exchange (SGX).

Singapore Changi Airport registered 4.93 million passenger movements in February, a 5.6% year-on-year increase. Aircraft movements were 6.0% higher with 29,700 landings and takeoffs, while airfreight throughput was stable at 1.4% to reach 148,930 tonnes, compared to the same period last year. Passenger traffic for the month was boosted by the Lunar New Year holidays, with travel to and from the Southeast and Northeast Asia regions accounting for over half of the growth. Among Changi’s top 10 country markets, China (+13%) and India (+12%) were the fastest growing.

Source: SGX Masnet, The Business Times, Changi Airport Group, Phillip Securities Research

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

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 “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.