Daily Morning Note – 30 Oct 2019
WEEKLY MARKET OUTLOOK WEBINAR
PHILLIP SUMMARY
Stocks in Asia were poised for a mixed start Wednesday after a lackluster session for U.S. equities as markets await the Federal Reserve’s policy decision. The central bank is widely expected to lower rates again Wednesday, and the key for markets will be the tone of Chairman Jerome Powell’s press conference later in the day.
Treasuries and the dollar were flat, while equity futures dipped in Japan and nudged higher in Hong Kong. A report that China and the U.S. might not sign a partial deal next month dented U.S. stocks exposed to the battle. Elsewhere, the pound was flat, gold held at $1,487.71 an ounce and crude decreased 0.6%.
BREAKING NEWS
The United States and China have come to an understanding on the direction of their trade relationship after a nearly 16-month trade war, White House adviser Jared Kushner said on Tuesday.
ASCENDAS Hospitality Trust (A-HTrust) posted higher gross revenue for the second quarter ended September. But its distribution per stapled security (DPS) declined, mainly because there was an absence of divestment.
RAFFLES Medical’s net profit for the third quarter was 16.9 per cent lower at S$13.6 million versus S$16.4 million a year ago as it continues to absorb the startup costs for its Chongqing hospital.
PROPERTY company Olive Tree Estates (OTE), in response to the query about a flurry of key executive departures, told the bourse regulator that the resignations came as it shifts its business focus and strategy to emerging markets and affordable housing.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
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