Phillip Capital Market Reports:
US Market
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OCBC
DBS
DBS Group Research | Equity Picks
Singapore Equity Picks: Read more
Hong Kong Equity Picks: Read more
Singapore Market Focus
Stocks to ride out sideways volatility
Click here to read our views
Singapore REITs
Interest rate policy remains dynamic and ‘data-driven’
Click here to read our views
Digital Core REIT (DCREIT SP)
2 news developments that should drive up stock price this month
Click here to read our views
Mapletree Logistics Trust (MLT SP)
Sharpens portfolio with strategic divestments
Click here to read our views
PetroChina Co Ltd (857 HK)
Reaching a new high
Click here to read our views
UOB
UOBKH: Retail Market Monitor: Monday, September 04, 2023
Click on the link for Greater China Daily.
Click on the link for Indonesia Daily.
Click on the link for Malaysia Daily.
Click on the link for Singapore Daily.
Click on the link for Thailand Daily.
KGI
Top Stories, 4 Sep 2023
1. Asia markets mixed in early trading; Australia and China data closely watched this week
2. Introducing HKEX Options on Futures Contracts (OOF) on on Hang Seng Index Futures and Hang Seng China Enterprises Index Futures. The new OOF will offer investors the opportunity to take a futures position on HKEX’s markets prior to the settlement of the underlying futures contract.
Find out more: https://www.kgieworld.sg/research/hkex-oof
3. China banks lend billions to Russia amid Western sanctions: FT
4. Back-to-school US spending set to hit record high in 2023
5. Oil industry elite hits Singapore to debate crude’s next twist
6. EUR/USD: US holiday to restrict Euro moves, further downside hinges on 1.0750 break and ECB’s Lagarde
https://www.kgieworld.sg/research/3t7b Technical Analysis: 4 September 2023
🇸🇬 SG
CapitaLand Investment (CLI SP)
UOL Group Ltd. (UOL SP)
🇭🇰 HK
Lenovo Group Ltd (992 HK)
SenseTime Group Inc (20 HK)
Read More: https://www.kgieworld.sg/research/sep04ta23 TRADING IDEAS: 🇸🇬 SINGAPORE
4 September 2023
🏙 DBS Group Holdings Ltd (DBS SP): SGD strengthens again
BUY Entry 33.10 – Target – 34.50 Stop Loss –32.35
🏢 AEM Holdings Ltd (AEM SP): Positive signs of recovery
BUY Entry 3.50 – Target – 4.00 Stop Loss – 3.25
➡️ Read More: https://www.kgieworld.sg/research/sep04sg23
CIMB
Equity Research Reports....
▍IDEA OF THE DAY (IOD)...
KR: Samsung Electronics (ADD, tp:KRW115,000.00▲) (HC) - Entering Nvidia’s AI GPU supply chain (1/9)
We project SEC’s HBM sales to reach 27% of total DRAM sales in FY24F as we expect it to be the new supplier of HBM3 for Nvidia’s AI GPU in 2024F. We now expect market NAND prices to rebound in 4Q23F, a quarter earlier than our previous estimate, due to sharp production cuts among suppliers. Reiterate Add, with a 15% higher SOP-based TP of W115k.
▌ TARGET PRICE CHANGES...
CHN: Luzhou Laojiao (ADD, tp:CNY288.00▲) - Solid sales growth expected in 2H23F (1/9)
HKG: China Mengniu Dairy (ADD, tp:HKD43.00▲) - Management’s sales and OPM guidance remain intact (1/9)
▌ STRATEGY & ECONOMIC NOTES...
IND: Economic Update - Inflation rebounds Aug, but set to fall in Sep (1/9)
MAL: Strategy Note - Need to adjust for ASP decline distortions (1/9)
▌ SECTOR & COMPANY NOTES...
HKG: New China Life Insurance (HOLD, tp:HKD20.70) - To benefit from low base effect in 2H23F (1/9)
HKG: Insurance - Overall (OVERWEIGHT) - The battle for MCV heats up in HK (1/9)
IND: Perusahaan Gas Negara (ADD, tp:IDR1,625.00) - One-off provisions ate into 2Q23 net profit (1/9)
MAL: Syarikat Takaful Malaysia Keluarga Bhd (ADD, tp:MYR3.96) - Expecting weaker 2H23F NP on lower NII (1/9)
THB: Oil & Gas - Integrated (UNDERWEIGHT) - First read on potential new energy policies (1/9)
▌ RECENT 'IDEAs OF THE DAY'...
KR: Samsung Electronics (ADD, tp:KRW115,000.00▲) (HC) - Entering Nvidia’s AI GPU supply chain (1/9)
KR: Amorepacific Corp (ADD▲, tp:KRW160,000.00▲) - Strong travel retail recovery expected (22/8)
MAL: Semiconductor (UNDERWEIGHT) - Risk-reward not appealing (16/8)
IND: Astra International (ADD, tp:IDR7,925.00) - What the competitors are up to (14/8)
IND: Internet Services (OVERWEIGHT) - A new era of rivalry in the making? (4/8)
Lim&Tan
MayBank
RN: ASEAN X MACRO
HK: DIM SUM DAILY
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