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Phillip Capital Morning Note - 20 Jun 2019

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Publish date: Thu, 20 Jun 2019, 09:06 AM
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US-Japan Trade deals progress likely in ‘months’ Tokyo understands Washington's desire to negotiate greater access to the Japanese market and efforts to reach a new trade agreement should bear fruit soon, a top US trade official said Wednesday.

Wall Street stocks advanced and the dollar fell after the Federal Reserve signaled it could soon cut interest rates due to uncertainty over the economic outlook.

INVESTORS already seem sold into thinking that rate cuts by the US Federal Reserve are a certainty. With news that US President Donald Trump and his Chinese counterpart Xi Jinping are set for an "extended meeting" at the G-20 summit, and dovishness from other central banks added to the mix, risk-on attitudes returned to the fore.

COSMOSTEEL's chief executive and executive director Ong Chin Sum will retire after serving out a notice period of six months or shorter from Wednesday.

YUUZOO has sold close to 3 per cent of streaming video unit YuuFlix to a "large foreign investor" for US$3 million. The investment has been fully paid, it said in a Singapore Exchange (SGX) announcement on Wednesday.

HONG Kong and Singapore dual-listed Fortune Reit will delist from the mainboard of the Singapore Exchange (SGX), citing administrative overheads, costs of compliance and low trading volume in Singapore as some reasons for the move.

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

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