SGX
Phillip Capital Market Reports:
US Market
OCBC
DBS
European Central Bank (ECB) increases interest rates by 25bps to record 4% and signals end to hikes
China reduces banks’ reserve requirement ratio (RRR) for second time this year to 7.4%
Disney to miss its previously lowered 2024 target of 215-245m subscribers by tens of million
Regional Technology
Place your chips to ride on recovery wave
Drivers for further semiconductor upside: 1) Bottoming of memory, worst-hit segment; 2) positive flywheel effect through AI; and 3) inventory correction on track
Green shoots sprouting for various end markets – PC, mobile, server
Respite from recent easing of US price-to-earnings (PE) valuation; SG/HK still laggard
What are our global and Asia picks?
Click here to read our views
China/Hong Kong: Consumer Sector
Prefer discretionary over staples
Eyeing multiple near-term catalysts for China/HK consumer plays
These include the return of tourists, low base effect, better operating leverage, working capital rebounds and attractive valuations
Our stress tests also attempt to factor in looming headwinds such as slowing economic growth, negative wealth effects from sluggish stock and property markets, rising bankruptcies and defaults, geopolitical tension, RMB depreciation, etc.
What are our top picks in the sector?
Click here to read our views
Frasers Property Ltd (FPL SP)
Immense value within
Market is assigning zero value for sponsor with growing business streams
Improving FY24F metrics from higher completions and improving outlook for hospitality division
Recycling of assets to REITs a potential catalyst
Is the stock trading at record low valuations despite improving fundamentals?
Click here to read our views
DBS Group Research | Equity Picks
Singapore Equity Picks: Read more
Hong Kong Equity Picks: Read more
UOB
UOBKH: Country Dailies: Friday, September 15, 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.
UOBKH: Retail Market Monitor: Friday, September 15, 2023
Click on the link for details.
Top Stories, 15 Sep 2023
1. Stock futures are little changed on Thursday evening: Live updates
2. HKEX’s Hang Seng TECH Index Futures and Options are the first exchange-traded derivatives contracts to track the Index, providing investors with a new tool to manage risks in their exposures to Hong Kong-listed technology companies
Find out more: https://www.kgieworld.sg/futures/hkex-hang-seng-tech-index
3. China central bank cuts bank reserve ratio to support economy
4. SoftBank's Arm soars nearly 25% in market debut to $65 billion valuation
5. China's Economic Resurgence Boosts Global Commodity Prices
6. Forex Today: Euro tumbles after ECB dovish rate hike; Oil and Wall Street edge higher
UOBKH: Regional Morning Meeting Notes: Friday, September 15, 2023
Click on the link for details.
KGI
kgi: Technical Analysis: 15 September 2023
Technical Analysis: 15 September 2023
🇸🇬 SG
United Overseas Bank (UOB SP)
DBS Bank (DBS SP)
🇭🇰 HK
China Coal Energy Co Ltd (1898 HK)
Yancoal Australia Ltd (3668 HK)
Read More: https://www.kgieworld.sg/research/sep15ta23
TRADING IDEAS: 🇸🇬 SINGAPORE
15 September 2023
🏙 Banyan Tree Holdings Ltd. (BTH SP): Fear not, tourism is here to stay
BUY Entry 0.390 – Target – 0.415 Stop Loss – 0.378
🏢 ThaiBev (THBEV SP): Expecting a tourism boost in Thailand during China’s upcoming golden week
BUY Entry 0.58 – Target – 0.62 Stop Loss – 0.56
➡️ Read More: https://www.kgieworld.sg/research/sep15sg23
CIMB
Please refer to below for the technical charts of the day.
SIN
Bullish continuation
HKG
Bullish continuation
MAL
Resuming on its longer-term uptrend?
Flag breakout next?
ASEAN: CGS-CIMB ASEAN Daily - 15 September 2023
Equity Research Reports....
▌ ECONOMIC & STRATEGY NOTES
THB: Strategy Note - Feedback from our marketing trip in KL (14/9)
▌ SECTOR & COMPANY NOTES
SIN: SIA Engineering (HOLD, tp:SGD2.46) - Troubleshooting engine issues (14/9)
▌ RECENT 'IDEAs OF THE DAY'...
MAL: Malaysia Airports Holdings (ADD▲, tp:MYR7.76▲) - Exciting times to return (13/9)
THB: Oil & Gas Refinery (UNDERWEIGHT) - Diesel-led GRM recovery in 2H23F (12/9)
THB: Hospitals (OVERWEIGHT) - A race for medical tourism in Thailand (8/9)
THB: Travel & Leisure - Overall (OVERWEIGHT) - Visa requirement may be lifted for Chinese (5/9)
MAL: Semiconductor (UNDERWEIGHT) - Risk-reward not appealing (16/8)
APAC: ASIA Pacific Daily - 15 September 2023
Equity Research Reports....
▌ TARGET PRICE CHANGES...
CHN: Yonghui Superstores (HOLD, tp:CNY3.40▼) - In the process of store network optimisation (14/9)
KR: Hansol Chemical (ADD, tp:KRW230,000.00▼) - Earnings to bottom in 2H23F (14/9)
▌ STRATEGY & ECONOMIC NOTES...
THB: Strategy Note - Feedback from our marketing trip in KL (14/9)
▌ SECTOR & COMPANY NOTES...
SIN: SIA Engineering (HOLD, tp:SGD2.46) - Troubleshooting engine issues (14/9)
▌ RECENT 'IDEAs OF THE DAY'...
MAL: Malaysia Airports Holdings (ADD▲, tp:MYR7.76▲) - Exciting times to return (13/9)
THB: Oil & Gas Refinery (UNDERWEIGHT) - Diesel-led GRM recovery in 2H23F (12/9)
THB: Hospitals (OVERWEIGHT) - A race for medical tourism in Thailand (8/9)
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)
Lim&Tan
MayBank
HK: DIM SUM DAILY MY: TRADERS’ ALMANAC
TPI Polene (TPIPL TB) First Gen Corp (FGEN PM) Bermaz Auto Berhad (BAUTO MK)
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