Daily Morning Note – 9 Febraury 2021


The global equity rally looks set to take a breather in Asia Tuesday as investors mull stimulus prospects and virus trends with stocks at record highs. Futures were little changed in Japan and Hong Kong, and dipped in Australia. U.S. stocks rose for the sixth straight session, with the S&P 500 Index closing at an all-time high spurred by fresh signs the Biden administration is committed to passing a sizable aid bill to address unemployment. An increase in vaccination numbers boosted optimism that the economy will take off later this year. Treasuries were little changed and the dollar retreated. Commodities prices pointed to renewed optimism in the global economic recovery. Oil climbed to a near two-year high.


Manulife US Real Estate Investment Trust (Manulife US Reit) saw its distribution per unit (DPU) decline 11.3 per cent to 2.59 US cents for the half year ended Dec 31, from 2.92 US cents a year ago. In a bourse filing on Monday morning, its manager said the drop was mainly due to lower property income as well as a provision for expected credit losses, and comes after factoring in the enlarged unit base from equity fundraising in H2 2019.

Yangzijiang Shipbuilding on Monday announced that it had recently secured agreements to build and deliver 29 vessels with a total contract value of US$1.3 billion. This includes orders from the group’s joint venture arm, Yangzi-Mitsui Shipbuilding Co (YAMIC). Of the 29 vessels, 22 are containerships worth a total of US$1.3 billion, and are expected to be delivered progressively from the third quarter next year.

Consumer electronics retailer Challenger Technologies posted a net profit of S$23.2 million for its financial year ended Dec 31, 2020, in results announced Monday. This indicates a 32 per cent increase from the year-ago period. Meanwhile, its revenue fell 18 per cent year on year to S$270.8 million, on the back of a decline in IT products and services business segment.

Thomson Medical Group on Monday posted a net profit of S$8.1 million for its first half ended Dec 31, 2020 – a reversal from its loss of S$1.9 million in the year-ago period. While revenue for the mainboard-listed group declined 1.3 per cent year on year (yoy) to S$116.6 million, its earnings before interest, taxes, depreciation and amortisation (Ebitda) jumped 32.6 per cent yoy to S$31.8 million.

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



Analyst: Chua Wei Ren

Recommended Action: Technical BUY

SATS Ltd (SGX: S58) initial sell call on 14th Jan 2021 had a strong bullish rebound at the support level at $3.79. Further technical indicate that SATS will have another round of upside after the corrective sell down.

Singapore Airlines Ltd

Analyst: Chua Wei Ren

Recommended Action: Technical BUY

Singapore Airlines Ltd (SGX: C6L) has finally sees the light at the end of the tunnel after it broke off the larger wedge formation on November 2020. Subsequent upside is considered a strong bullish rally. Further technical indicate a possible upside of SIA.

>> Read more Technical reports

Webinar Of The Week

Market Outlook: : (PSR) Keppel Corp, Keppel DC REIT, Phillip on the Ground, SG Weekly & Phillip Absolute 10

Date: 2 February 2021

For more on Market Outlook

Updates summarised in 3 minutes

Phillip Research in 3 minutes: #29 – Keppel Corporation; Initiation

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 揳s 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