Daily Morning Note – 9 Oct 2019
WEEKLY MARKET OUTLOOK WEBINAR
Asia markets gained on Tuesday, with major indexes in Japan, South Korea, China and Hong Kong trading higher.
US stocks fell sharply on Tuesday as investor optimism around the upcoming U.S.-China trade talks faded.
Gold rose 1% on Tuesday, bouncing off a one-week low touched earlier in the session, as uncertainties over U.S.-China trade talks and Brexit drove a decline in stock markets and prompted investors to seek refuge in the safe-haven metal.
Oil prices fell slightly on Tuesday as Washington’s blacklisting of more Chinese companies dampened hopes for a trade deal between the two countries, although unrest in Iraq and Ecuador lent some support to crude prices.
The US Commerce Department said on Monday it was putting 28 Chinese public security bureaus and companies – including video surveillance company Hikvision – on a US trade blacklist over Beijing’s treatment of Uighur Muslims and other predominantly Muslim ethnic minorities.
M+S, the national joint venture between Malaysia and Singapore, will sell the hotel component of the Duo mixed-use project for S$475 million to Singapore developer Hoi Hup Realty.
AMAZON.COM has launched a bigger local store and marketplace in Singapore, expanding its product selection and intensifying competition with rivals such as Alibaba Group Holding’s Lazada and Sea’s Shopee.
Hong Kong’s bourse on Tuesday dropped its unsolicited US$39 billion bid for London Stock Exchange Group (LSE), conceding it hadn’t won over LSE management for a move that could have transformed both global financial services businesses.
Bus and train fares will rise by 7 per cent from Dec 28, although the hike will be cushioned for more than one in two Singaporeans, who enjoy concessionary fares. The hike is the maximum allowed in this year’s formula, and the biggest percentage jump since 1998 – driven largely by a spike in fuel and energy costs.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
Haidilao International Holding Ltd
Recommended Action: Technical SELL
Haidilao International Holding Ltd (HK: 6862) Strong bullish trend may enter a period of short consolidation after a bearish fall
Webinar Of The Week
Date: 07 October 2019
Phillip Research in 3 minutes: #14- Singapore Banking Sector
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