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A place for the Singapore investment community to share information, research and updates.
[PREMIUM CONTENT] Maybank and UOBKH keep ‘buy’ on Frencken, semiconductor recovery to arrive within 2HFY2025
Read: https://link.theedgesingapore.com/r6VueBjBgrySSegV8
Download our app: edgesg.link/appdl
The Edge Singapore
Ex-Income CEO 'welcomes’ government's Allianz-Income deal block; Allianz to consider revisions to proposed transaction https://t.co/4Ob4OhWPwa
tweet
Lack of proper pension funds could lead to momre proverty, inequity: Mercer
https://www.cnbc.com/video/2024/10/15/pensions-are-designed-to-maintain-living-standards-mercer.html
AI outperforms analysts: Can AI help investors beat the market?
Beating the market has long been the ultimate goal for investors who pursue active… https://thefinance.sg/?p=1650976
Morning update ⏰
🚢 Yangzijiang: Arbitration proceedings hold little water
YZJ announced that a customer has initiated arbitration proceedings over a contract cancellation during Covid, seeking USD835mn in claims. Legal advisors believe the claim lacks merit, with YZJ having strong defences. Is this dip a buying opportunity?
https://go.dbs.com/4f5rYEo
💊 Consun Pharmaceutical Group: Catalysts ahead
We have raised our earnings forecasts to reflect the group's accelerating penetration into new medical institutions. Furthermore, its recent exclusion in the national tender of finished Chinese medicines indicates lower risk on price cut for its key product in the next 2 years. Find out three more reasons why we like this stock.
https://go.dbs.com/3Yne8Yt
😥 Turning cautious on USD’s recovery
The MAS held its NEER policy steady, keeping USD/SGD within its 1.305-1.310 range. Meanwhile, we are cautious on the DXY Index’s rise to 103.30, and the strength may fade as risk appetite improves and US bond yields ease. Fed officials are looking to deliver two rate cuts in November and December. How are other currencies performing?
https://go.dbs.com/403W4nq
Gold prices flat as traders await fresh catalysts
https://www.businesstimes.com.sg/companies-markets/energy-commodities/gold-prices-flat-traders-await-fresh-catalysts
🔧 Stock of The Week: ST Engineering (SGX: S63)
- ST Engineering’s revenue grew 14% YoY in the first half of 2024, with net profit up 20%. The stronger revenue was driven mainly by their Commercial Aerospace and Defence & Public Security segments, with revenue growth of 20% and 12% YoY respectively.
- ST Engineering also saw S$6.1b in contract wins for 1H2024, bringing their total order book to S$27.9b.
- The group sees opportunities in aerospace, smart city, defence and public security industry domains despite challenges in the operating environment. Management remains confident in in achieving “long-term sustainable growth”, supported by the robust order book.
- At its closing price of S$4.67, ST Engineering has a market cap of S$14.6bn. The company trades at a dividend yield of 3.4%, with a 12-month consensus target price of $4.99 on 12 buy and 2 hold recommendations.
*All data as of 14 Oct 2024
➡️ For more information on ST Engineering, visit bit.ly/3YlQXOd
The US Federal Reserve's first rate cut in 4 years is undoubtedly fueling the REIT sector with optimism, with many companies experiencing a huge jump in their share prices lately. And with expectations of further rate cuts from this year and beyond, how should investors be positioning themselves in the REIT sector? How might distribution yields perform in the coming months? And how can you ride this potentially bullish trend before it's too late?
Dan Koh dissects the details with Kenny Loh, REIT Specialist and #IndependentFinancialAdvisor as they discuss the valuation of S-REITs today and where you can find attractive opportunities.
https://reitsavvy.com/insights/money-and-me-finding-attractive-s-reits-in-a-rate-cutting-environment
#reit #investingtips #marketoutlook #passiveincome
Citi’s Australia chief says real estate tops investor interest
https://www.businesstimes.com.sg/companies-markets/banking-finance/citis-australia-chief-says-real-estate-tops-investor-interest
iFAST Daily Brew ☕️ - 15 Oct 2024
Global markets mostly higher on positive spillover effect from US equities as investors optimistic on US corporate earnings
🇺🇸 S&P 500: 0.77% 📈
🇺🇸 NASDAQ: 0.82% 📈
🇪🇺 STOXX 600: 0.53% 📈
🇯🇵 Nikkei 225: 0.88% 📈
🇭🇰 Hang Seng: -0.75% 📉
🇨🇳 CSI 300: 1.91% 📈
🇸🇬 STI: 0.62% 📈
3 Things You Need To Know
1. Taiwan Semiconductor Manufacturing Co (TSMC), is anticipated to post a 40% surge in third-quarter profit on Thursday, driven by increasing demand for its products.
2. Goldman Sachs raised China's gross domestic product forecast to 4.9% from 4.7% for 2024, citing the government's latest round of stimulus measures.
3. Singapore central bank left its monetary settings unchanged on Monday, as the economy grew 4.1% y/y in the third quarter, surpassing investors estimate of 3.8% y/y.
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The Essentials of Keppel Pacific Oak US REIT You Need to Know
https://www.thesingaporeaninvestor.sg/2024/10/09/the-essentials-of-keppel-pacific-oak-us-reit-you-need-to-know/?utm_source=rss&utm_medium=rss&utm_campaign=the-essentials-of-keppel-pacific-oak-us-reit-you-need-to-know
China moves to tax ultra-rich for overseas investment gains
https://www.straitstimes.com/business/economy/china-moves-to-tax-ultra-rich-for-overseas-investment-gains
Maybank IBG Hong Kong - Dim Sum Daily (15 Oct 2024)
1️⃣ Hong Kong stocks reacted negatively (-0.75%) to the Ministry of Finance's (MOF) Saturday briefing and weaker-than expected trade data. The only bright outcome was China’s property sector, which reacted to the MOF new policy measure outlines to stabilise the real estate sector.
2️⃣ The property sector was also buoyed by China’s major national banks specific measures to adjust interest rates for existing mortgage loans (cutting 30bps below the loan prime rate). COLI (688 HK) (+5.5%) and CR Land (1109 HK) (+5.8%) led the sector gains.
Trade Your Way Forward. Simple, Smart and Seamlessly.
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#MaybankIBGDimSum
VW, BMW and Mercedes are getting left in the dust by China’s EVs
https://www.businesstimes.com.sg/international/global/vw-bmw-and-mercedes-are-getting-left-dust-chinas-evs
CIO: our prefer getting China exposure through domestic consumer stocks
https://www.cnbc.com/video/2024/10/15/cio-prefer-getting-china-exposure-through-domestic-consumer-stocks.html
Timing isn't right for Israel to escalate: BMI Chief Economist
https://www.cnbc.com/video/2024/10/15/taiwan-is-an-important-strategic-ally-to-the-u-s-from-an-economic-perspective-says-economist.html
Ex-Income CEO 'welcomes’ government's Allianz-Income deal block; Allianz to consider revisions to proposed transaction
Read: https://link.theedgesingapore.com/oaHbHqvMsTnj45vs9
Follow us on: @theedgesg
Singapore REITs Monthly Update (September 8th, 2024)
https://mystocksinvesting.com/singapore-reits/singapore-reits-monthly-update-september-8th-2024/?utm_source=rss&utm_medium=rss&utm_campaign=singapore-reits-monthly-update-september-8th-2024&utm_source=rss&utm_medium=rss&utm_campaign=singapore-reits-monthly-update-september-8th-2024
Singapore still attractive investment location, drew $5.4 billion in first-half commitments: Gan Kim Yong
https://www.straitstimes.com/business/economy/singapore-still-attractive-investment-location-drew-54-billion-in-first-half-commitments-gan-kim-yong
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DBS VICKERS Daily Newsletter | 15 October 2024
US weighs capping exports of AI chips from Nvidia and AMD to some countries
https://www.businesstimes.com.sg/international/global/us-weighs-capping-exports-ai-chips-nvidia-and-amd-some-countries
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Curated Headlines for 15 October 2024
South China Morning Post
Vivo launches premium X200 smartphone weeks after Apple, Huawei release new handsets
The X200 series marks the latest effort by Vivo to crack the global smartphone industry’s lucrative high-end segment
https://www.scmp.com/tech/tech-trends/article/3282343/vivo-launches-premium-x200-smartphone-weeks-after-apple-huawei-release-new-handsets?module=top_story&pgtype=section
Alibaba, JD.com, Pinduoduo launch campaigns for Singles’ Day shopping festival on same day
The e-commerce rivals’ respective promotions look to benefit from healthier consumer spending on the back of Beijing’s stimulus measures
https://www.scmp.com/tech/big-tech/article/3282334/alibaba-jdcom-pinduoduo-launch-campaigns-singles-day-shopping-festival-same-day?module=top_story&pgtype=section
Xpeng bets on Eagle Eye technology to enhance autonomous driving in new P7+ sedan
The Eagle Eye system is more accurate in information collection than lidar sensors used in its existing models like P5 sedan and G6 SUV
https://www.scmp.com/business/china-business/article/3281910/xpeng-bets-eagle-eye-technology-enhance-autonomous-driving-new-p7-sedan?module=top_story&pgtype=subsection
The Business Times
Bitcoin climbs with Harris pledging regulatory framework support
https://www.businesstimes.com.sg/companies-markets/banking-finance/bitcoin-climbs-harris-pledging-regulatory-framework-support
US: Stocks close higher as Dow crosses 43,000 milestone
https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/us-stocks-close-higher-dow-crosses-43000-milestone
Tokyo Metro’s IPO raised US$2.3 billion in Japan’s biggest listing in six years
The IPO is Japan’s biggest since SoftBank’s US$21 billion listing in December 2018
https://www.businesstimes.com.sg/international/tokyo-metros-ipo-raised-us2-3-billion-japans-biggest-listing-six-years
The Wall Street Journal
Google Backs New Nuclear Plants to Power AI
Startup Kairos Power plans to build small reactors to help supply electricity to the tech company’s data centers, in a first-of-its-kind deal in the U.S.
https://www.wsj.com/business/energy-oil/google-nuclear-power-artificial-intelligence-87966624?mod=hp_lead_pos2
Barron’s
Adobe Shows Off Its AI. Will Investors Notice?
At Adobe’s user conference Monday, the imaging software leader wowed attendees as its homegrown gen-AI stretched videos on the fly, by generating frames to fit the music soundtrack.
https://www.barrons.com/articles/adobe-ai-stock-3844a533?mod=hp_minor_pos22&_gl=1*880m6q*_gcl_au*OTE3NzkxMjE2LjE3MjQxOTY4NTQ.*_ga*ODQ0MDY0MDUxLjE3MTU4MTcyMTQ.*_ga_K2H7B9JRSS*MTcyODk0OTg2OS4yMS4wLjE3Mjg5NDk4NjkuNjAuMC4w
Forward guidance matters more than stimulus size to strengthen investor confidence in China: Economist
https://www.cnbc.com/video/2024/10/15/forward-guidance-matters-more-than-stimulus-size-to-china.html
Tokyo Metro set to raise US$2.3 billion in Japan's biggest IPO in 6 years, sources say
https://www.channelnewsasia.com/business/tokyo-metro-set-raise-us23-billion-japans-biggest-ipo-6-years-sources-say-4678496
Singapore shares open higher on Tuesday; STI up 0.6%
https://www.businesstimes.com.sg/companies-markets/singapore-shares-open-higher-tuesday-sti-0-6
Announcements from China lately signal a 'beginning' of policy course correction to restore confidence: Strategist
https://www.cnbc.com/video/2024/10/15/seeing-a-change-in-attitude-in-chinese-leadership-is-laying-the-groundwork-to-restore-business-and-consumers-confidence.html
HSBC probes its China Pinnacle wealth business; move could see layoffs, sources say
https://www.straitstimes.com/business/hsbc-probes-its-china-pinnacle-wealth-business-move-could-see-layoffs-sources-say