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Author: traderhub8   |   Latest post: Fri, 13 Dec 2019, 8:27 AM


Phillip Capital Morning Note - 13 Dec 2019

Author: traderhub8   |  Publish date: Fri, 13 Dec 2019, 8:27 AM

Stocks surged to new records Thursday propelled by reports the U.S. and China had reached at trade deal to avoid new tariffs due on Sunday, and roll back existing levies, in exchange for purchases of American agricultural products. The benchmark S&P 500 and Nasdaq Composite indexes closed at record highs while the Dow Jones Industrial Average saw a new intraday record.

The Dow Jones Industrial Average DJIA, +0.79% closed 220.75 points, or 0.8% higher, at 28,132.05, just shy of a new all-time high. The S&P 500 index SPX, +0.86% gained 26.95 points, or 0.9%, to close at 3,168.58, and the Nasdaq Composite Index COMP, +0.73% added 63.27 points, or 0.7%, to 8,717.32, both new records. The Russell 2000 RUT, +0.79% gained 15.63 points, 1%, to close at a new all-time high of 1,647.56.

CHIP Eng Seng on Thursday said that its wholly-owned subsidiary CES Education has acquired Raffles Campus (Malaysia) for S$24.4 million.

BEST World International's audit committee is "cautiously optimistic" that the independent review into the sales practices adopted by the premium skincare firm in China is on track to be completed as planned, it said on Thursday.

KEPPEL DC Reit on Thursday said it will be acquiring its second data centre in Germany for 81.8 million euros (around S$125.3 million). This will be its eighth data centre in Europe.”

RAZER is still mulling over applying for a Singapore digital banking licence but if it proceeds to meet the Dec 31 deadline, the gaming lifestyle brand will be gunning for one of two retail licences on offer.

QUETZAL Capital's offer for mainboard-listed PACC Offshore Services Holdings (POSH) to delist it is in the bag, having received valid acceptances for over 90 per cent of the outstanding shares.

C&G Environmental Protection Holdings has made a request to the Minister for Finance to allow it to stay listed, "for the benefit of more than 1,900 Singaporean shareholders".

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

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Phillip Capital Morning Note - 12 Dec 2019

Author: traderhub8   |  Publish date: Thu, 12 Dec 2019, 11:39 AM

Stocks dipped on Tuesday as a looming U.S.-China trade deadline dampened investor sentiment.

The Dow Jones Industrial Average closed 27.88 points lower, or 0.1% at 27,881.72. The S&P 500 also lost 0.1% to close at 3,132.52. The Nasdaq Composite dipped 0.1% as well to 8,616.18, dragged down by Netflix.

China and the U.S. have until Sunday to come strike a so-called phase one trade deal. If an agreement wasn’t reached by then, new U.S. tariffs will take effect.

MAINBOARD-LISTED XMH Holdings disposed of a subsidiary at a S$2.2 million loss, and it resulted in red ink for its bottom line, which almost doubled to S$3.1 million for the second quarter.

KEPPEL DC Reit will pay up to S$56.6 million to fund installation costs of additional core mechanical and electrical systems (M&E) for levels two and three of its DC1 data centre located at 18 Riverside Road.

THE Straits Trading Company said its unit has entered into conditional deals to divest four freehold residential properties in Osaka for 8.25 billion yen (S$100 million), realising an 890-million yen gain.

THE cash offer for mainboard-listed PACC Offshore Services Holdings (POSH) has turned unconditional, following the offeror having received valid acceptances which will result in the offeror holding not less than 90 per cent of the outstanding shares.

THE managers of Mapletree Commercial Trust (MCT), Mapletree North Asia Commercial Trust (MNACT) and Mapletree Industrial Trust (MIT) have separately announced on Tuesday night changes to their boards of directors with new appointments and resignations to take effect from Dec 15.

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

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Phillip Capital Morning Note - 11 Dec 2019

Author: traderhub8   |  Publish date: Wed, 11 Dec 2019, 8:56 AM

The Dow dipped 27.88 points, or 0.10% to close at 27,881.72. The S&P 500 fell 0.11% to end the day at 3,132.52. The Nasdaq Composite declined 0.07% to 8,616.18. Wall Street struggled for direction for most of the session as a key deadline loomed for U.S.-China trade talks.

Deal between China and the U.S. by Sunday was unlikely. That report sent stock futures lower before the open. Sentiment later picked up after The Wall Street Journal said the U.S. planned to delay the implementation of additional tariffs on Chinese goods. However, National Economic Council Director Larry Kudlow said Sunday’s tariffs are still on the table. Bottom line, the mixed news around trade prevented investors from taking the market in one definitive direction on Tuesday. Investors will need more clarity on the trade situation before the market can resume its record-setting rally.

CATALIST-LISTED JCG Investment and a Malaysian have entered into a subscription agreement, with the individual investor subscribing for over 53.4 million new shares and over 10.6 million new warrants in the former.

MS Holdings posted net earnings of S$34,000 for the half-year to October, reversing a loss of S$335,000 for the corresponding period a year ago. This came mainly on an improvement in the utilisation rate of its mobile cranes.

FRUITS distributor SunMoon Food Company on Tuesday said its wholly-owned subsidiary has received a statutory demand on Nov 29 from Japanese food supplier Wismettac Foods, which is seeking payment of US$1.2 million within 21 days from the date the demand was served.

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

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Phillip Capital Morning Note - 10 Dec 2019

Author: traderhub8   |  Publish date: Tue, 10 Dec 2019, 8:08 AM

Stocks fell for the first time in four sessions on Monday as investors took a pause after a sharp rally in the previous session.

The Dow Jones Industrial Average closed 105.46 points lower, or 0.4% at 27,909.60. The S&P 500 pulled back 0.3% to 3,135.96 and the Nasdaq Composite slid 0.4% 8,621.83. Apple fell 1.4% to lead the Dow lower.

STAMFORD Tyres on Monday evening warned of a net loss for the second quarter and half year ended Oct 31, 2019, based on a preliminary review of its draft unaudited financial results.

KOON Holdings on Monday said the joint venture (JV) between its unit Koon Construction & Transport (KCT) and Japanese firm Penta-Ocean Construction has been terminated.

MAPLETREE Logistics Trust Management, the manager of Mapletree Logistics Trust, said its chief financial officer Ivan Lim Ming Rean has resigned and will step down on Dec 31, 2019.

DORMITORY developer Centurion Corp has agreed to buy a 177-bed student accommodation asset in the British city of Nottingham for £15.1 million (about S$26.98 million).

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

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Phillip Capital Morning Note - 9 Dec 2019

Author: traderhub8   |  Publish date: Mon, 9 Dec 2019, 10:20 AM

A stronger-than-expected November U.S. jobs report sent stocks soaring Friday, with the Dow Jones Industrial Average rallying over 300 points intraday on word that the economy added 266,000 jobs last month, mainly in education and manufacturing. Economists polled by Dow Jones expected closer to 187,000 nonfarm payroll additions.

Economic and market professionals largely see the results as yet another catalyst for the U.S. stock market's record bull run.

MAINBOARD-LISTED Forise International commented that its chief executive officer (CEO) resigned four months into the job because he and the board could not agree on his remuneration.

TRITECH Group has dropped its proposed share placement after taking into consideration the volatility of its share price, among other factors.The Catalist-listed high-technology oriented engineering products and services company said in a regulatory filing on Dec 7 that it has scrapped the proposal to place out up to 110,824,743 new ordinary shares.

FINTECH company ayondo Ltd has recognised a gain of 49.8 million Swiss francs (S$68.5 million) in the third quarter to September, as a result of deconsolidation of its subsidiary ayondo Holdings AG (AHAG). But it is in a negative equity position with current liabilities of 2.3 million Swiss francs.

IReit Global has partnered with Tikehau Capital to enter the Spanish market with an acquisition of four freehold office buildings in Madrid and Barcelona.

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

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Phillip Capital Morning Note - 6 Dec 2019

Author: traderhub8   |  Publish date: Fri, 6 Dec 2019, 8:13 AM

Global stocks continue to inch higher on the back of the positive noise surrounding a potential trade deal. Overnight, the MSCI Asia Pacific Index added 0.5%. Japan’s Topix index also closed 0.5% higher after a somewhat muted reaction to the announcement of a 26 trillion yen ($239 billion) government stimulus plan. In Europe, the Stoxx 600 Index had gained 0.4% by 5:50 a.m. Eastern Time. S&P 500 futures pointed a positive open, the 10-year Treasury yield was at 1.784% and gold was flat.

An audit of the Queen Mary lease agreement by the City of Long Beach's auditor will be commencing, in a bourse filing by Eagle Hospitality Trust (EHT).

Manulife US Reit will be included in the FTSE EPRA Nareit Global Developed Index with effect from Dec 23, 2019, the manager of the pure-play US office real estate investment trust said in a bourse filing on Thursday.

Mapletree Logistics Trust has been added to the Straits Times Index (STI), while Golden Agri-Resources will be excluded, following the latest quarterly review of the STI by FTSE Russell.

Singtel has named Kelly Bayer Rosmarin as CEO designate of both Optus and Consumer Australia, the telco announced in press statement on Thursday.

Keppel Infrastructure Holdings' indirectly wholly-owned subsidiary Keppel Energy Switzerland Holding AG is investing 53.02 million euros (S$80 million) for a 20 per cent stake in MET Holding AG (MET Group), an integrated European energy company headquartered in Switzerland.

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

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