Daily Morning Note – 29 March 2019


Register HERE for MONDAY’s 11.15am webinar.

Archived webinars available.


Shares in Asia were poised to see opening gains on Friday morning as trade negotiations between the U.S. and China continue in Beijing. The Trump administration is prepared to keep negotiating with China for weeks or even months to reach a trade deal, White House economic adviser Larry Kudlow said in a speech in Washington on Thursday. Also in China – from next week, China’s domestic bond market will see some of its securities included in benchmark global indexes for the first time.

Oil prices settled roughly flat on Thursday, with the U.S. WTI crude futures settling 11 cents lower at $59.30 a barrel (intraday: $58.20), after U.S. President Donald Trump called for OPEC to boost crude production to lower prices. “Very important that OPEC increase the flow of Oil. World Markets are fragile, price of Oil getting too high. Thank you!” Trump tweeted.


Federal Reserve Bank of New York President John Williams, one of the US central bank’s top policy makers, downplayed fears of recession risks being signaled by bond markets.

Contract signings to purchase previously owned US homes fell more than estimated in February, suggesting that the prior month’s surge resulted from pent-up demand and that a sustainable recovery may take more time.

Hong Kong’s traditional banks are set to face one of their biggest challenges yet: a new breed of financial technology firms estimated to snare as much as 30 per cent of their revenue.

The Hong Kong Monetary Authority has granted three virtual bank licenses and is processing five more, deputy chief executive Arthur Yuen said in a briefing on Wednesday.

Lyft is raising some US$2.5 billion in its Wall Street offering, which is seen as turning point for the ride-hailing business and the so-called “sharing economy.”

Wells Fargo chief executive Tim Sloan, a frequent target of critics following a series of lapses by the bank, is stepping down from his post “effective immediately,” the bank announced Thursday.

Sony chairman Kazuo Hirai, who led a major and successful overhaul at the Japanese electronics giant, announced Thursday he would be leaving the firm after 35 years.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR

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

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.


Contact us to Open an Account

Need Assistance? Share your Details and we’ll get back to you