Daily Morning Note – 29 June 2018
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BREAKING NEWS
U.S. oil prices rose to a three-and-a-half year high on Thursday, bolstered by supply concerns due to U.S. sanctions that could cause a large drop in crude exports from Iran.
Stocks in Shanghai have tumbled 13 per cent in dollar terms since MSCI Inc added “A shares” at the start of the month. The Shanghai Composite Index slumped 0.9 per cent on Thursday to a two-year low.
TEE Land Limited is purchasing Teck Guan Ville condo in Upper East Coast Road in a collective sale worth S$60 million.
Homegrown food court operator Koufu has lodged a draft prospectus for a listing on the Singapore Exchange mainboard, with plans to start trading on July 18. The IPO could raise about S$85mn.
Catalist-listed medical technology company Clearbridge Health may bring an associate to an initial public offering (IPO), not long after its own bourse debut in December last year.
Source: CNBC, Bloomberg, Reuters, Business Times, 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
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