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Author: traderhub8   |   Latest post: Thu, 16 Jan 2020, 8:53 AM


Phillip Capital Morning Note - 12 Dec 2019

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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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