Daily Morning Note – 4 December 2018


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Stocks rallied after the U.S. and China declared a truce in their trade war, while the dollar weakened and oil gained. Treasury Secretary Steven Mnuchin said China has agreed to eliminate tariffs on imported automobiles but declined to give details after President Donald Trump jolted car stocks by announcing a deal had been reached.

Stocks in Asia slipped Tuesday in morning trade amid uncertainty about the future of U.S.-China trade relations. Japan’s Nikkei 225 declined by 0.14 percent in early trade while the Topix index shed 0.25 percent, as Nissan’s shares slipped 0.25 percent following a Reuters report that the company’s external board is set to meet today to discuss a replacement for arrested former Chairman Carlos Ghosn.


GSK buys Tesaro for $5.1bn to boost cancer drugs, Shares lose 7 per cent on news of drugmaker’s first big acquisition under Emma Walmsley.

Uber eyes scooter start-up takeover, Company has discussed multibillion-dollar deals with sector leaders Bird and Lime.

Unilever agrees €3.3bn deal for GSK’s Horlicks unit , Anglo-Dutch group’s acquisition of malted beverages is a bet on India growth.

Qatar to Leave OPEC as Cartel Pressured to Cut Production, Qatar said it plans to leave OPEC, a surprise move for a member that has played a key role inside the cartel, but has more recently clashed with de facto leader Saudi Arabia.

ARA ASSET Management has bought a sizeable portfolio of Hyatt hotels that represents not just its maiden entry into the US but also what observers say could be Singapore’s first pure-play US hotel Reit listing.

Source: SGX Masnet, Bloomberg, Reuters, The Business Times, Channel NewsAsia, Phillip Securities Research

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