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Phillip Capital Morning Note - 6 Jun 2019

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Publish date: Thu, 06 Jun 2019, 03:43 PM
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The European Central Bank will try to give an ailing euro zone economy a boost on Thursday and may even set the stage for more action later this year as an escalating global trade war saps growth and unravels the benefits of years of ECB stimulus.

Oil prices fell on Wednesday, with West Texas Intermediate crude futures (WTI) dropping to its lowest since January after US crude inventories unexpectedly surged, adding to concerns about slowing global growth.

Asian markets rose on Wednesday, tracking rallies on Wall Street after the US Federal Reserve chief indicated greater openness to lowering interest rates and acknowledged the impact of trade tensions on growth.

Wall Street stocks rose for a second straight session on Wednesday, with solid data on the US services sector offsetting a weak private sector hiring report.

Tokyo stocks opened higher on Wednesday extending rallies on Wall Street, as the US Federal Reserve chief signalled a greater openness to cutting interest rates.

CHALLENGER Technologies said on Tuesday night that the Singapore Exchange has no objection to its delisting, subject to compliance with listing rules.

SIX more mainboard-listed companies have announced their addition to the Singapore Exchange's watch-list with effect from June 6, due to not meeting minimum trading price (MTP) requirements.

European stock markets crept higher on Wednesday as defensive shares gained ground, but rising tensions between Italy and the European Commission over the country's debt dampened sentiment.

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

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