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Phillip Capital Morning Note - 3 Jul 2019

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Publish date: Wed, 03 Jul 2019, 09:05 AM
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Tesla reported a surge in second-quarter deliveries on Tuesday, while other US automakers suffered drops in sales for the first half of 2019, with higher vehicle costs weighing on consumers.

Petroleum-linked shares tumbled with oil prices on Tuesday as Wall Street stocks finished a choppy session higher, with the S&P 500 at a second straight record.

European shares closed comfortably higher on Tuesday, with utilities and consumer stocks leading gains as investors brushed aside US President Donald Trump's threat to impose tariffs on an additional US$4 billion of EU goods.

Wall Street stocks pulled back early Tuesday amid lingering trade uncertainty as the United States threatened to impose additional tariffs on European goods.

SINGAPORE equities got the week off to a flying start following a surprise outcome from the Osaka meeting between the US and China. But Monday's gains were followed by Tuesday's flat session.

REAL estate developer Yanlord Land Group has garnered around 1.43 billion yuan (S$0.28 billion) in pre-sales at the inaugural launch of its Yanlord Gardens development in Nantong.

Monetary Authority of Singapore mulls raising leverage limit for Singapore Reits. IN A move to enable Singapore real estate investment trusts (S-Reits) to better compete against private capital and foreign Reits when making real estate acquisitions, the Monetary Authority of Singapore (MAS) is considering raising their current leverage limit of 45 per cent.

Ascendas Residence Trust and Ascendas Hospitality Trust enter combination deal to become Asia Pacific’s largest Hospitality Trust with Asset value of 7.6 billion.

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

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