SGX
Phillip Capital Market Reports:
Morning note today :
US Market
Post out tonight at 9pm
OCBC
DBS
Regional Internet Sector
Higher growth in Asia & Europe
Travel bookings in Europe and international travel bookings from China are still below pre-COVID level, indicating solid growth over the next 12-months
Besides near-term recovery, we look for structural market share gainers in the medium term
Who are our top picks in the online travel sector?
Click here to read our views
SEA Ltd (SE US)
Indonesia Trade Ministry fully aligned with SME ministry to regulate TikTok
Trade Ministry has finally aligned with SME Ministry who has been crying foul for some time.
Trade Ministry has acknowledged the need to (i) implement a ban on imports below U$100 for e-commerce (ii) to regulate Tiktok to prevent the collapse of the e-commerce sector
Why this follow-up news will prove positive for the company?
Click here to read our views
Sunlight Real Estate Investment Trust (435 HK)
Resilient rental earnings
FY23 distributable income fell 12% to HK$380m, broadly in line with our estimate
Office income supported by resilient contributions from service trade tenants
Retail reversionary growth turned less negative at 2.5% in FY23 from 1HFY23’s 4.8%
Why we believe earnings will remain resilient amid macro headwinds and high office supply?
Click here to read our views
DBS Group Research | Equity Picks
Singapore Equity Picks: Read more
Hong Kong Equity Picks: Read more
UOB
UOBKH: Regional Morning Meeting Notes: Friday, September 08, 2023
Click on the link for details.
UOBKH: Retail Market Monitor: Friday, September 08, 2023
Click on the link for details.
UOBKH: Country Dailies: Friday, September 08, 2023
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
Technical Analysis: 8 September 2023
🇸🇬 SG
DFI Retail Group Holdings Ltd. (DFI SP)
Starhub Ltd. (STH SP)
🇭🇰 HK
Kunlun Energy Company Ltd (135 HK)
PetroChina Co Ltd (857 HK)
Read More: https://www.kgieworld.sg/research/sep08ta23
TRADING IDEAS: 🇸🇬 SINGAPORE
8 September 2023
🏙 Yangzijiang Shipbuilding (YZJSGD SP): Double bonanzas-record order book and weak RMB
BUY Entry 1.67 – Target 1.80– Stop Loss – 1.61
🏢 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/sep08sg23
Top Stories, 8 Sep 2023
1. Stock futures are little changed as traders weigh risk of rate hikes: Live updates
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’s push to cool EV growth is upending big tech’s ambitions
4. Oil Prices Drop After 9-Day Winning Streak
5. U.S. layoff evidence remains scant; labor costs ease
6. EUR/USD Price Analysis: Hovers below 1.0700, eyeing the 1.0600 figure amid bearish signals
CIMB
Trendspotter of the day (SIN/HKG/MAL): 8th September 2023
Bullish break out of the consolidative range
Bullish reversal to the upside
HKG
Return of the uptrend
MAL
To fill the gap next?
Uptrend stays intact
APAC: ASIA Pacific Daily - 08 September 2023
Equity Research Reports....
▌ RECOMMENDATION CHANGES & INITIATIONS...
KR: AfreecaTV Co Ltd (ADD▲, tp:KRW99,000.00▲) - Strong advertising demand in 4Q23F (7/9)
▌ TARGET PRICE CHANGES...
HKG: Sun Hung Kai Properties Ltd (ADD, tp:HKD111.10▼) - Lower payout to preserve balance sheet (8/9)
PH: Monde Nissin Corp (ADD, tp:PHP9.86▼) - Sustained margin improvement in 2H23F (7/9)
▌ STRATEGY & ECONOMIC NOTES...
MAL: Economic Update - Policy rate unchanged this year and next (7/9)
▌ SECTOR & COMPANY NOTES...
HKG: Prudential PLC (ADD, tp:HKD154.00) (HC) - Key takeaways from post results roadshow (7/9)
IND: GoTo Gojek Tokopedia (ADD, tp:IDR130.00) - A penny saved is a penny earned (7/9)
SIN: Sheng Siong Group (ADD, tp:SGD1.88) - On stable footing (7/9)
THB: SCB X (ADD, tp:THB145.00) (HC)(ESG) - NIM expansion to offset high credit cost (7/9)
▌ RECENT 'IDEAs OF THE DAY'...
THB: Travel & Leisure - Overall (OVERWEIGHT) - Visa requirement may be lifted for Chinese (5/9)
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)
(HC) - High Conviction; (ESG) - ESG picks
ASEAN: CGS-CIMB ASEAN Daily - 08 September 2023
Equity Research Reports....
▌ TARGET PRICE CHANGES
PH: Monde Nissin Corp (ADD, tp:PHP9.86▼) - Sustained margin improvement in 2H23F (7/9)
▌ ECONOMIC & STRATEGY NOTES
MAL: Economic Update - Policy rate unchanged this year and next (7/9)
▌ SECTOR & COMPANY NOTES
IND: GoTo Gojek Tokopedia (ADD, tp:IDR130.00) - A penny saved is a penny earned (7/9)
SIN: Sheng Siong Group (ADD, tp:SGD1.88) - On stable footing (7/9)
THB: SCB X (ADD, tp:THB145.00) (HC)(ESG) - NIM expansion to offset high credit cost (7/9)
▌ RECENT 'IDEAs OF THE DAY'...
THB: Travel & Leisure - Overall (OVERWEIGHT) - Visa requirement may be lifted for Chinese (5/9)
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)
THB: Hana Microelectronics (ADD, tp:THB60.00▲) (HC)(ESG) - Looking beyond the trough (18/7)
(HC) - High Conviction; (ESG) - ESG picks
Lim&Tan
MayBank
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