Daily Morning Note – 6 Jan 2020


Apologies for the delay, we experienced some technical difficulties in the morning.

Note: There will be changes to our weekly webinar broadcast. We will only be doing it twice a month now, on alternate weeks. Thank you!


Financial markets are likely to face a volatile start to the week in Asia after geopolitical tensions flared in the Middle East. Futures in Japan dipped with traders returning after an extended holiday last week. They also slipped in Sydney and Hong Kong. Gold and Treasuries climbed in a flight to safety, and the yen also advanced.

All the Middle East’s major equity gauges fell Sunday and the S&P 500 Index posted its biggest loss in a month Friday. Oil surged on Friday, and is set for a bumpy week as the U.S. warned Iran may attack Saudi Arabia again.


Draghi, Yellen Warn of Risks Facing Policy in Low-Rate World. The U.S. and the euro area face daunting economic challenges in a world of low inflation and interest rates and central banks alone don’t have the tools to cope.

Temasek-backed firm leads consortium to vie for digital wholesale bank licence. HK-listed Sheng Ye Capital teams up with PhillipCapital and Advance.AI in the quest to build a data-driven “next generation” SME bank. Among the trio, Sheng Ye Capital and Advance.AI are backed by Temasek subsidiary Pavilion Capital.

The Singapore Business Federation (SBF) will be joining a consortium led by Ron Sim’s V3 Group and stored-card operator EZ-Link that is gunning for the digital full-bank licence in Singapore. Sources tell The Business Times (BT) that the business chamber will be taking a minority stake of below 10 per cent, in a move to support small- and medium-sized enterprises (SMEs) in their funding needs.

Singapore-listed fintech firm iFast Corp said on Friday that a bid for the Singapore Digital Banking license was submitted in December together with a consortium of Chinese partners. Other companies that have submitted bids include Razer Inc and Grab Holdings Inc.

Iraq’s parliament on Sunday backed a recommendation by the prime minister that all foreign troops should be ordered out after the US killing of a top Iranian military commander and an Iraqi militia leader in Baghdad.

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


CapitaLand Mall Trust

Recommended Action: Technical SELL

The technicals for CapitaLand Mall Trust (SGX: C38U) point to a strong bearish break from the neckline resistance of the double top in 11th November 2019.

Read more technical reports

Webinar Of The Week

Market Outlook: : Market Outlook: (PSR) FLT & FCOT Merger, SG Banking & Technical Analysis

Date: 9 December 2019

For more on Market Outlook

Phillip Research in 3 minutes: #16- JEP Holdings Ltd

Updates summarised in 3 minutes

For more videos on Phillip in 3 Mins

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