Ada Tam Ying Ying

Sep 21, 20236 min read

20Sep2023 Reports

Economic Calendar :

https://www.sgxacademy.com/eco-cal/?doing_wp_cron=1695121005.8658249378204345703125

SGX

10 in 10 – Pasture Holdings (SGX Code: UUK)

https://api2.sgx.com/sites/default/files/market-dialogues/migration/10%20in%2010%20with%20Pasture%20Holdings%20Meeting%20demands%20of%20global%20healthcare%20system.pdf

Phillip OCBC DBS UOB KGI CIMB Lim&Tan MayBank

https://www.zawya.com/en/mena

Phillip Capital Market Reports:

Stock Research

Phillip Daily Morning Note

https://mailchi.mp/phillip/phillip-morning-note-256275?e=ffecca3682

US Market (By Phillip Global Markets Night Desk)

US MARKET (MREP US REPORT [102])

Generated at 21:01 UTC+8:00, September 20, 2023

Market Wrap

US equity futures edged higher as traders awaited a Federal Reserve interest rate decision that will be scrutinized more for the policy outlook than a widely expected pause in hikes. Contracts on the S&P 500 and the Nasdaq 100 both added about 0.3%. Among individual moves, grocery delivery company Instacart Inc. slipped in premarket, a day after surging following one of the year’s biggest US initial public offerings.

Economy

Biggest Reports in Next 12 Hours

OCBC

DBS

Japan August exports falls lesser than expected -0.8% y-o-y (consensus -2.1%)
Elon Musk says Twitter, now X, is moving to monthly subscription model to combat bot problem
Disney to nearly double park capex to US$60bn over the next 10 years

Latest changes: DBS Equity Picks

DBS Equity Picks have consistently outperformed market benchmarks since inception.

NEW REMOVAL(S)

Remove Digital Core REIT from Dividend category (Singapore)

Regional Energy

Oil prices: Steady march to 100?

Brent crude oil prices up 25% since July, creeping up towards US$100/bbl
The party could rock on in the near term; but we deem US$100/bbl+ oil price unsustainable
Oil-led inflation may put rate hikes back on the table, raise recession fears
Is the recent oil rally sustainable?
Click here to read our views

China Auto Sector

Driving forward on stronger margins and new models

Tesla refreshes Model 3 with a higher price, implies lower pricing pressure and coupled with easing raw material cost, are positive on EV makers
Forecast EV makers’ 2H23 gross/vehicle margins to post 0.5-10ppt sequential increase on rising sales
Robust EV shipment by NIO / Xpeng in 2H23 an important share price driver
Who are our top picks in the sector?
Click here to read our views

NIO Inc (9866 HK / NIO US)

Proposed offering of US$1bn convertible senior notes

Proposed to issue up to US$1bn worth of convertible senior notes; terms of offering yet to be disclosed
Latest proposed issuance should help to support business strategy (new brand/products development; working capital/refinancing needs; potential battery investment; and new market exploration)
Anticipated improving vehicle shipments in 2H23 to lift financial position as well; Jul-Aug-23 shipment surged 92% yoy
Why we remain positive in our medium term outlook for the company?
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: Wednesday, September 20, 2023

Click on the link for details.

https://research.uobkayhian.com/content_download.jsp?id=75231&h=df1e34159fe6604e22ac6cda72d99772

UOBKH: Country Dailies: Wednesday, September 20, 2023

Click on the link for Greater China Daily.

https://research.uobkayhian.com/content_download.jsp?id=75245&h=91703ebc5854720ccaadb92e6fa88cfe Click on the link for Indonesia Daily. https://research.uobkayhian.com/content_download.jsp?id=75247&h=5204baddc6f0824345567e9778df1505 Click on the link for Malaysia Daily. https://research.uobkayhian.com/content_download.jsp?id=75260&h=d1f57d3e0106b8db853b2f36f85fcef5 Click on the link for Singapore Daily. https://research.uobkayhian.com/content_download.jsp?id=75233&h=f1d2929d27bc4893dbe5ffa21b2a6688

Click on the link for Thailand Daily.

https://research.uobkayhian.com/content_download.jsp?id=75261&h=1ca9f84e0314259ddb072fba15e42061

UOBKH: Retail Market Monitor: Wednesday, September 20, 2023

Click on the link for details.

https://research.uobkayhian.com/content_download.jsp?id=75232&h=9b3933639a931223d3f78f0dffc61254

KGI

Technical Analysis: 20 September 2023

🇸🇬 SG

Rex International Holdings Ltd. (REXI SP)

SBS Transit (SBUS SP)

🇭🇰 HK

CMOC Group Ltd (3993 HK)

Aluminum Corp of China Ltd (2600 HK)

TRADING IDEAS: 🇸🇬 SINGAPORE

20 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

Top Stories, 20 Sep 2023

1. Asia markets mixed ahead of China loan prime rate decision; Fed decision on horizon

https://www.kgieworld.sg/research/vwdf

2. Introducing ICE Micro MSCI Index Futures.Calculated by MSCI, a leading provider of index solutions serving the world’s institutional investors, the MSCI USA and MSCI Europe Indices are designed to capture the full opportunity set in their respective regions.

Find out more: https://www.kgieworld.sg/futures/ice-micro-msci-index-futures

3. US lawmaker to urge chip industry group to reduce China investments: source

https://www.kgieworld.sg/research/s4l0

4. Oil prices ease after hitting 10-month highs as investors take profits

https://www.kgieworld.sg/research/44u0

5. China files appeal against WTO panel report on US steel, aluminium tariffs

https://www.kgieworld.sg/research/fnvo

6. EUR/USD: Euro struggles against the US Dollar, as FOMC’s decision looms

https://www.kgieworld.sg/research/tn5t

CIMB

ASEAN: CGS-CIMB ASEAN Daily - 20 September 2023

Equity Research Reports....