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MarketScreener Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Jardine Matheson Holdings Limited    JARD   BMG507361001

JARDINE MATHESON HOLDINGS LIMITED

(JARD)
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Southeast Asia stocks - Philippines rises on rate cut hopes; Singapore slides

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11/26/2019 | 03:42am EST
A trader walks past the electronic board of the Philippine Stock Exchange in Makati city, Metro Manila

Philippine stocks gained the most in Southeast Asia on Tuesday, boosted by hopes of a central bank interest rate cut, while shares in Singapore slipped ahead of manufacturing data due later in the day.

Bangko Sentral ng Pilipinas governor Benjamin Diokno said another rate cut is still possible during the last policy meeting of the central bank in December, local media reported https://www.philstar.com/business/2019/11/26/1971802/rate-cut-still-possible-yearend-diokno on Tuesday.

The country's central bank has cut interest rates by a total of 75 basis points this year but left its powder dry at the policy meeting held earlier this month.

The possibility of another interest rate cut is underpinning the positive sentiment in the market, Rachelle Cruz, an analyst at AP Securities, said.

"We're also seeing some bargain hunters picking up stocks which were sold down," Cruz added.

The country's benchmark index jumped 0.5% after closing at its lowest in almost seven weeks on Monday.

Index heavyweights SM Prime Holdings and SM Investments Corp gained 1.3% each.

Singapore stocks slipped 0.3%, with Jardine Matheson Holdings and Jardine Strategic Holdings falling 2.3% and 0.6%.

Data on the city-state's manufacturing output - a key driver of growth - for October is due later in the day.

Most other Southeast Asian markets were, however, little changed as investors shrugged off news of a phone call between top Chinese and U.S. trade negotiators.

Scepticism and weariness due to constant and often conflicting headlines on U.S.-China trade negotiations have prompted investors to be cautious, limiting their response to new developments.

Malaysian stocks edged higher, with electricity utility Tenaga Nasional advancing 1%.

Shares in Indonesia and Thailand were flat.

(This story refiles to correct the link for the Thai SET index in the last paragraph)

By Arundhati Dutta

Stocks mentioned in the article
ChangeLast1st jan.
JARDINE MATHESON HOLDINGS LIMITED 0.00% 58.06 End-of-day quote.4.14%
JARDINE STRATEGIC HOLDINGS LIMITED 2.76% 33.19 End-of-day quote.8.29%
SM INVESTMENTS CORPORATION End-of-day quote.
SM PRIME HOLDINGS, INC. End-of-day quote.
TENAGA NASIONAL BHD End-of-day quote.
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Financials (USD)
Sales 2019 41 809 M
EBIT 2019 3 888 M
Net income 2019 2 084 M
Debt 2019 7 501 M
Yield 2019 2,92%
P/E ratio 2019 10,4x
P/E ratio 2020 12,6x
EV / Sales2019 0,69x
EV / Sales2020 0,67x
Capitalization 21 279 M
Technical analysis trends JARDINE MATHESON HOLDINGS
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 61,71  $
Last Close Price 57,50  $
Spread / Highest target 16,5%
Spread / Average Target 7,32%
Spread / Lowest Target 1,04%
EPS Revisions
Managers
NameTitle
Benjamin William Keswick Executive Chairman & Managing Director
John Raymond Witt Executive Director & Group Finance Director
Adam Phillip Charles Keswick Executive Director
Henry Neville Lindley Keswick Chairman-Emeritus
Anthony John Liddell Nightingale Non-Executive Director
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