Daily Morning Note – 3 Dec 2019
WEEKLY MARKET OUTLOOK WEBINAR
PHILLIP SUMMARY
China’s restraint on the trade front notwithstanding, the S&P 500 Index fell the most in almost eight weeks on Monday partly thanks to trade tensions on other fronts.
President Donald Trump reinstated U.S. levies on steel and aluminum from Argentina and Brazil, a move that served as a reminder to investors that the deadline for the next round of American tariffs on China — Dec. 15 — is quickly looming. Asian stocks looked set to fall Tuesday, with equities also hurt by disappointing U.S. factory data Monday.
Futures in Japan, Australia and Hong Kong all pointed lower, and the yen is stronger. The risk-off mood spread to Europe, where shares had the biggest slump in two months. The dollar slid against most major peers, and ten-year treasury yields closed higher but off their intraday peak. A gauge of retailers in the S&P 500 dropped on Monday, joining broader market losses — even though Black Friday hit a record $7.4 billion in U.S. online sales.
Elsewhere, oil rose the most in more than a week as traders sifted for fresh signals on whether OPEC and allied crude producers will tighten supplies when they meet later this week.
BREAKING NEWS
A merger costing S$1.58 billion between Frasers Logistics & Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) has been proposed by the managers of both real estate investment trusts (Reits).
PRIME US Reit announced after trading hours on Monday that it has been included in the MSCI Singapore Small Cap Index, as at the close of market trading on Nov 26.
United Overseas Bank‘s wholly-owned subsidiary UOB Asset Management intends to acquire VAM Vietnam Fund Management Joint Stock Company for a cash consideration of VND113,680 million (S$6.7 million).
BreadTalk Group announced on Monday after trading hours that a joint-venture agreement entered into with its wholly-owned subsidiary BreadTalk International and PT Pura Indah Berkat (PT PIB) in March 2018 was terminated on mutual agreement.
MindChamps PreSchool announced on Monday after trading hours that it is divesting its centre at Changi Business Park for a cash consideration of S$1.03 million to franchisee Yirong Education to operate.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
Webinar Of The Week
Market Outlook: : (PSR) ThaiBev, CapitaLand, SG Weekly and Technicals (STI, UOB & DJIA)
Date: 2 December 2019
Phillip Research in 3 minutes: #16- JEP Holdings Ltd
Updates summarised in 3 minutes
For more videos on Phillip in 3 Mins
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. |