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Phillip Capital Morning Note

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Publish date: Thu, 19 Jul 2018, 09:49 AM
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The yuan fell to the lowest since August as the US dollar rallied, raising speculation that Chinese officials are comfortable with the currency's weakness.

Turkey's state of emergency, imposed after the failed 2016 coup, came to an end on Thursday after two years in force that saw tens of thousands arrested and dismissed from their jobs. Manufacturers across the United States are worried by President Donald Trump's trade policies, which many blame for higher prices and supply disruptions, according to a Federal Reserve survey released Wednesday.

Oil prices rose on Wednesday after US government data indicated bullish demand for gasoline and distillates, which overshadowed a surprise build in US crude inventories and US crude oil production hitting 11 million bpd for the first time.

European antitrust regulators fined Google a record 4.34 billion euro (S$6.9 billion) on Wednesday and ordered it to stop using its popular Android mobile operating system to block rivals, a ruling which the US tech company said it would appeal.

Wheelock Properties parent offers S$2.10 per share to take developer private. Read our report published on 2 June 2017.

China Mining International has proposed a slew of changes, among them a diversification into agriculture, an acquisition of a majority stake in such a company for S$37.2 million in this field and a change of name to Zhongnong Huasheng International.

Manufacturing Integration Technology is looking to dispose its semiconductor business for an estimated price of S$84.5 million and focus its energies on contract equipment manufacturing and customised automation as its core business.

Lion Global Investors (LGI) has launched an actively managed multi-asset fund series with a total expense ratio (TER) of 0.5 per cent, in an effort to help investors get more bang for their investment dollars by reducing costs.

Source: CNBC, Bloomberg, Reuters, Business Times, SingStat, MTI, Phillip Securities Research

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