Daily Morning Note – 30 Aug 2019


Register HERE for MONDAY’s 11.15am webinar.

Archived webinars available.


Stocks in Asia were set to trade higher on Friday following hints from Beijing that it will not retaliate against the latest round of tariffs from Washington for now, amid the ongoing U.S.-China trade war.

US Stocks jumped on Thursday after China said it wished to resolve its protracted trade dispute with the world’s largest economy with a “calm” attitude.

Gold fell on Thursday as the dollar rose and stock markets gained confidence with the latest positive development in the U.S.-China trade deal, but concerns over decelerating global economy kept prices hemmed near a multiyear peak

Source: CNBC


The world’s largest wealth manager UBS on Thursday appointed former Credit Suisse manager Iqbal Khan and Citigroup veteran Suni Harford as new wealth and asset management executives. Mr Khan, Credit Suisse’s former head of International Wealth Management.

Work on Dubai’s Al Maktoum Airport, designed to be one of the world’s biggest with an annual capacity of more than 250 million passengers, is on hold as Gulf Arab economies falter, people familiar with the matter said. Construction activity has been halted and finances for expansion frozen until further notice.

Australia is on track to run its first current-account surplus since 1975, but it’s coming at precisely the wrong time. The dramatic turnaround is probably not what the Reserve Bank is after, because with a cash rate at a record-low 1% and forecast to drop to 0.5% next year, a current-account surplus suggests the currency might be a bit stronger than it otherwise would be and investment somewhat softer — the opposite of what’s needed in 2019. Meanwhile, an expected budget surplus means the government isn’t providing much stimulus to an economy that’s slowed sharply and where rate ammunition is running low.

Australia’s Crown Resorts on Thursday said it had been informed that a planned US$1.2 billion stake sale by casino mogul James Packer to Melco Resorts & Entertainment had been delayed.

Melco on Wednesday said the second tranche of the 19.99 per cent stake sale by Packer’s Consolidated Press Holdings would be deferred by up to 60 business days after Australian regulators complete a review of the deal.

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


Fortune REIT

Recommended Action: Technical BUY

Fortune REIT (SGX: F25U) enjoyed a bullish run from 3Q2018 to Q22019.Thereafter, it has been under severe selling pressure. Based on the technicals, we expect a strong recovery

Read more technical pulse

Webinar Of The Week

Market Outlook: : (PSR) Golden Energy and Resources Ltd, CapitaLand Limited, Singapore REITs Monthly, Phillip US/China Weekly, Phillip Singapore Weekly & Technical Outlook

Date: 26 August 2019

For more on Market Outlook

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