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Phillip Capital Morning Note - 1 Jun 2020

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Publish date: Mon, 01 Jun 2020, 08:54 AM
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Stocks in Asia looked set for a mixed start as investors weighed the simmering U.S.-China tensions against violent protests in some American cities. President Donald Trump’s long-touted response to China's crackdown on Hong Kong included a barrage of criticism but stopped short of fully escalating tensions between the two nations. The S&P 500 ended higher on Friday, when futures in Japan and Hong Kong climbed. Global stocks rose for a second month in May.

Thai Beverage Public Co (ThaiBev) has dismissed reports it is seeking a buyer for its businesses in Vietnam. It said in a Friday filing after the market close that the claim, made in recent reports by news media in Vietnam, is "entirely without merit".

Shares of Broadway Industrial Group surged 24.5 per cent on Friday after the company announced it has taken another step in its plan to dispose of its hard disk drive business.

CAPITALAND will deploy tech solutions such as disinfecting robots and air disinfection systems at its malls to enhance its cleaning and disinfecting routines ahead of Singapore's Phase One reopening in June, it said in a bourse filing on Friday.

ASCOTT Residence Trust (ART) will not be redeeming its S$250 million, 4.68 per cent perpetual issue on its first call date next month. The move sets a precedent for real estate investment trust (Reit) perpetuals.

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

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