Daily Morning Note – 8 Oct 2019
WEEKLY MARKET OUTLOOK WEBINAR
PHILLIP SUMMARY
Asia markets looked set to gain on Tuesday ahead of high-level trade talks between US and China, with Nikkei futures pointing to a higher open in Japan while Chinese markets are due to re-open following a week-long public holiday.
US stocks fell slightly on Monday as investors looked ahead to U.S.-China trade talks, which are set to begin later this week.
Gold prices inched lower on Monday, but held a tight range around the $1,500 level as investors took a cautious approach ahead of the U.S. Federal Reserve minutes and trade talks between Washington and Beijing this week.
Oil prices ended the day little changed on Monday as U.S.-China trade talks loomed.
Source: CNBC
BREAKING NEWS
THE Singapore Exchange has queried Catalist-listed GCCP Resources on why it only announced the resignation of its independent director Teng Chang Yeow on the same day as his last day of service, Oct 1.
Parkson l Retail Asia’s independent auditor has raised a “material uncertainty” about the department store operator’s ability to remain as a going concern, the company announced on Monday.
SOUTH-EAST Asian real estate portal PropertyGuru, which counts buyout firms TPG Capital and KKR among its backers, is seeking to list on the Australian Securities Exchange (ASX).
OXLEY Holdings has acquired a remaining 60 per cent interest in property firm Pindan Group for zero consideration, it said on Monday.
President Donald Trump said on Monday he would prefer to strike a comprehensive trade bargain with China, in comments days before top US and Chinese officials are due to resume trade talks in Washington.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
TECHNICAL PULSE
Nvidia Corp
Recommended Action: Technical SELL
Nvidia Corp (US: NVDA) technicals suggest the stock will enter into a bearish correction despite a rising channel trend.
RESEARCH REPORTS
First REIT – Good quality assets – but requires Sponsor’s support
Recommendation: Site Visit Note (Not Rated), Last Done: S$1.01
Target Price: N A., Analyst: Natalie Ong
– Portfolio underpinned by tertiary care hospitals which have better revenue intensity and margins compared to primary and secondary care hospital
– Main overhang on the share price remains the renewal of the master lease with LPKR
– FIRT’s dividend yield and P/NAV is currently at the +1 standard deviation (s.d.) and -1 s.d. level respectively.
Webinar Of The Week
Market Outlook: : (PSR) Singapore Exchange Limited, Singapore Banking Monthly, First REIT, US Weekly, Technical Analysis & Singapore weekly
Date: 07 October 2019
Phillip Research in 3 minutes: #14- Singapore Banking Sector
Updates summarised in 3 minutes
For more videos on Phillip in 3 Mins
| Disclaimer |
| 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. |
