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Author: traderhub8   |   Latest post: Thu, 16 Jan 2020, 8:53 AM

 

Phillip Capital Morning Note - 11 Dec 2019

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The Dow dipped 27.88 points, or 0.10% to close at 27,881.72. The S&P 500 fell 0.11% to end the day at 3,132.52. The Nasdaq Composite declined 0.07% to 8,616.18. Wall Street struggled for direction for most of the session as a key deadline loomed for U.S.-China trade talks.

Deal between China and the U.S. by Sunday was unlikely. That report sent stock futures lower before the open. Sentiment later picked up after The Wall Street Journal said the U.S. planned to delay the implementation of additional tariffs on Chinese goods. However, National Economic Council Director Larry Kudlow said Sunday’s tariffs are still on the table. Bottom line, the mixed news around trade prevented investors from taking the market in one definitive direction on Tuesday. Investors will need more clarity on the trade situation before the market can resume its record-setting rally.

CATALIST-LISTED JCG Investment and a Malaysian have entered into a subscription agreement, with the individual investor subscribing for over 53.4 million new shares and over 10.6 million new warrants in the former.

MS Holdings posted net earnings of S$34,000 for the half-year to October, reversing a loss of S$335,000 for the corresponding period a year ago. This came mainly on an improvement in the utilisation rate of its mobile cranes.

FRUITS distributor SunMoon Food Company on Tuesday said its wholly-owned subsidiary has received a statutory demand on Nov 29 from Japanese food supplier Wismettac Foods, which is seeking payment of US$1.2 million within 21 days from the date the demand was served.

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

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