Daily Morning Note – 3 Oct 2019

WEEKLY MARKET OUTLOOK WEBINAR

PHILLIP SUMMARY

Asian stocks looked set to follow U.S. stocks down amid increased concerns about a global slowdown. Futures pointed lower in Japan, Australia and Hong Kong, with markets in China and South Korea closed for holidays. The 10-year Treasury yield fell for a fifth straight day to 1.6% on U.S. hiring numbers. The yen rose versus the dollar and gold spiked above $1,500. Elsewhere, oil fell to the lowest level in almost two months after swelling inventories in the world’s biggest economy added to a pessimistic and weakening economic backdrop.



BREAKING NEWS

European stock markets dived almost 3 per cent to log their worst day since last December on Wednesday as the threat of a transatlantic trade war and dismal economic data added to fears about a faltering global economy.

Wall Street stocks tumbled on Wednesday after lackluster US employment data deepened recession worries amid grinding trade conflicts.

WALL Street’s main indexes hit fresh one-month lows at the open on Wednesday, extending losses from the previous session, as a contraction in domestic factory activity pointed to impact from a prolonged US-China trade war.

Chaswood Resources, whose shares have been suspended from trading since June 18, 2018, has been granted an eight-week extension for a moratorium that expired on Oct 1, it announced on Wednesday night.

BREADTALK founder George Quek is looking to a Singapore-Taiwan free trade pact to resolve the issues encountered in his recent personal acquisition of Taiwan’s Pacific Sogo Department Stores.

UNITS of Lendlease Global Commercial Reit (Lendlease Global Reit) made a stellar debut on the Singapore Exchange’s (SGX) main board on Wednesday afternoon.

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

Webinar Of The Week

Market Outlook: : (PSR) 2019-09-30 Lendlease, Venture, REITs monthly, China Weekly, Technicals

Date: 30 September 2019

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Phillip Research in 3 minutes: #14- Singapore Banking Sector

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