Daily Morning Note – 6 Jan 2020

WEEKLY MARKET OUTLOOK WEBINAR

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!

PHILLIP SUMMARY

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.

BREAKING NEWS

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

TECHNICAL PULSE

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





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