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UOBKH: Country Dailies: Tuesday, November 21, 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.
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UOBKH: Retail Market Monitor: Tuesday, November 21, 2023
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UOBKH: Regional Morning Meeting Notes: Tuesday, November 21, 2023 [GC Commodities, 1810 HK, TOWR IJ, MRDIY MK, MYEG MK, CEB MK, DELFI SP, TH Finance]
KGI
Trendspotter of the day (SIN/HKG/MAL): 21st November 2023
Please refer to below for the technical charts of the day.
SIN
Bullish rebound at the bottom
HKG
Bullish break confirms key reversal pattern
Bullish rebound in place
Accumulation done?
MAL
New all-time high next?
Reaching for new heights?
CIMB
APAC: ASIA Pacific Daily - 21 November 2023
▌ RECOMMENDATION CHANGES & INITIATIONS...
IND: Indosat (ADD▲, tp:IDR10,500.00) - Acquiring MNC Play’s subscriber base (20/11)
KR: Han Kuk Carbon (HOLD▼, tp:KRW13,000.00▼) - Slow OPM rise due to business dilution (20/11)
THB: Airports of Thailand (HOLD▼, tp:THB74.00▼) (ESG) - Growing risks from weak Chinese arrivals (21/11)
▌ TARGET PRICE CHANGES...
HKG: Xiaomi Corporation (ADD, tp:HKD21.50▲) - Premium products led GPM expansion (21/11)
KR: HDC Hyundai Development (HOLD, tp:KRW15,000.00▲) - Deep value but expect slow recovery (20/11)
THB: Britania (ADD, tp:THB9.30▼) - Expansion through JVs with landlords (20/11)
THB: Carabao Group (REDUCE, tp:THB77.00▲) - Tailwinds from TWD’s beer sales (20/11)
THB: Origin Property (ADD, tp:THB10.20▼) (HC)(ESG) - Margins hit by bulk inventory sales (20/11)
▌ STRATEGY & ECONOMIC NOTES...
MAL: Economic Update - Trade likely turning positive by early-1Q24F (20/11)
THB: Economic Update - Slump in inventory changes drags GDP (20/11)
▌ SECTOR & COMPANY NOTES...
CHN: Proya Cosmetics (ADD, tp:CNY165.00) - Key takeaways from 20th anniversary conference (20/11)
HKG: Xiaomi Corporation (ADD, tp:HKD21.50) - Xiaomi SU7 debut (21/11)
MAL: Affin Bank Berhad (ADD, tp:MYR2.26) - Expect qoq NII growth to resume in 4Q23F (20/11)
MAL: Gamuda (ADD, tp:MYR5.65) - Delivering on its projects down under (20/11)
MAL: Mr D.I.Y. Group (M) Bhd (HOLD, tp:MYR1.50) - Key takeaways from 3QFY23 briefing (20/11)
MAL: Muhibbah Engineering (ADD, tp:MYR0.895) - Encouraging contract wins; execution is key (20/11)
SIN: Frasers Property Limited (ADD, tp:SGD1.41) - Growing recurring base, attractive yield (20/11)
▌ RECENT 'IDEAs OF THE DAY'...
MAL: Banks (OVERWEIGHT) - Don’t lose sleep over asset quality (16/11)
MAL: Utilities - Overall (OVERWEIGHT) - Malaysia, ASEAN’s renewable battery (6/11)
MAL: Strategy Note - Budget 2024: policy continuity (14/10)
MAL: Economic Focus - Budget 2024: Raise revenue, cut spending (14/10)
THB: Hana Microelectronics (ADD▲, tp:THB80.00▲) (ESG) - Multiple tailwinds to drive OP growth
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ASEAN: CGS-CIMB ASEAN Daily - 21 November 2023
▌ RECOMMENDATION CHANGES & INITIATIONS
IND: Indosat (ADD▲, tp:IDR10,500.00) - Acquiring MNC Play’s subscriber base (20/11)
THB: Airports of Thailand (HOLD▼, tp:THB74.00▼) (ESG) - Growing risks from weak Chinese arrivals (21/11)
▌ TARGET PRICE CHANGES
THB: Britania (ADD, tp:THB9.30▼) - Expansion through JVs with landlords (20/11)
THB: Carabao Group (REDUCE, tp:THB77.00▲) - Tailwinds from TWD’s beer sales (20/11)
THB: Origin Property (ADD, tp:THB10.20▼) (HC)(ESG) - Margins hit by bulk inventory sales (20/11)
▌ ECONOMIC & STRATEGY NOTES
MAL: Economic Update - Trade likely turning positive by early-1Q24F (20/11)
THB: Economic Update - Slump in inventory changes drags GDP (20/11)
▌ SECTOR & COMPANY NOTES
MAL: Affin Bank Berhad (ADD, tp:MYR2.26) - Expect qoq NII growth to resume in 4Q23F (20/11)
MAL: Gamuda (ADD, tp:MYR5.65) - Delivering on its projects down under (20/11)
MAL: Mr D.I.Y. Group (M) Bhd (HOLD, tp:MYR1.50) - Key takeaways from 3QFY23 briefing (20/11)
MAL: Muhibbah Engineering (ADD, tp:MYR0.895) - Encouraging contract wins; execution is key (20/11)
SIN: Frasers Property Limited (ADD, tp:SGD1.41) - Growing recurring base, attractive yield (20/11)
▌ RECENT 'IDEAs OF THE DAY'...
MAL: Banks (OVERWEIGHT) - Don’t lose sleep over asset quality (16/11)
MAL: Utilities - Overall (OVERWEIGHT) - Malaysia, ASEAN’s renewable battery (6/11)
MAL: Strategy Note - Budget 2024: policy continuity (14/10)
MAL: Economic Focus - Budget 2024: Raise revenue, cut spending (14/10)
THB: Hana Microelectronics (ADD▲, tp:THB80.00▲) (ESG) - Multiple tailwinds to drive OP growth (10/10)
Lim&Tan
MayBank
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