Ada Tam Ying Ying

Nov 6, 20237 min read

3 Nov2023 Reports

SG Earnings Announcement :

SGX

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 :

US Market (By Phillip Global Markets Night Desk)

3 November 2023

Market Wrap

Stock futures rose and bond yields fell after signs of a labor-market slowdown bolstered speculation the Federal Reserve will hold policy rates steady through year-end.

S&P 500 futures signaled the US equity benchmark will advance for a fifth straight day. The gauge is currently on pace for its best week since November. Two-year yields, which are more sensitive to imminent Fed moves, retreated eight basis points to 4.9%. The dollar fell. Swaps for January show an only 20% chance of one more Fed hike,with the market pricing the first rate cut by June — instead of July.

Today's Big News

- US Hiring Cools to 150,000 While Unemployment Rises to 3.9%

- Israel Latest: Blinken Meets Netanyahu as Gaza Clashes Continue

- Goldman Sees Bonds Beating Cash for the First Time Since 2020

- Maersk Slumps After Forecasting Weak Global Trade Until 2026 (2)

- First Quantum to Keep Churning Out Copper Despite Panama Turmoil

- Buffett’s Berkshire Poised for Boost as Rates Burnish Cash Pile

OCBC

SG: Keppel Infrastructure Trust (KIT SP) - An unexpected gift

OIR Market Pulse (03 November 2023)

OIR Singapore Post (SPOST SP) - Stay patient

DBS

Market News

Japan government launches US$113bn package to cushion economic blow from inflation, including tax cuts
Apple delivers above-estimates results but signals weak outlook for December quarter revenue
Starbucks beats revenue and profit expectations; plans to open 17,000 locations by 2030 and cut US$3bn costs

Regional Market Focus: ETF in Focus

Is the bull run over for bullion?

The golden glimmer appears to have partially priced in unequivocal rate cuts in 2024
Near-term support for safe havens such as gold in times of geopolitical turmoil and economic uncertainty
Gold’s allure could be bolstered by a weaker USD when the Fed’s restrictive monetary policy tones down
What are our preferred ETF picks?
Click here to read our views

Frasers Logistics & Commercial Trust (FLT SP)

Optimising balance sheet through L&I expansion

Slight miss in earnings as a result of FX and rising borrowing costs
Rental growth has significantly offset the impact of cap rate expansion on valuations
FLCT to be more active in optimising gearing in FY24; focusing on Logistics & Industrial (L&I) assets in Singapore and Japan
What will drive the net leg of growth?
Click here to read our views

SIA Engineering Company Ltd (SIE SP)

2QFY24 results ahead of expectations despite modest deterioration in operating performance

2QFY24 net profit amounted to S$32.3m, with 1HFY24 net profit of S$59.3m accounting for 55% of our full-year estimate, slightly ahead of our expectations
2QFY24 revenue fell modestly by 3.7% on a sequential basis to S$252.1m, largely due to delays stemming from supply chain disruptions
Coupled with an impairment loss of S$2.2m, SIAEC slipped back into an operating loss of S$0.3m as compared to an operating profit of S$0.4m in the previous quarter
Are we optimistic about the group’s earnings prospects over the medium term?
Click here to read our views

Jiumaojiu International Holdings Ltd (9922 HK)

Acquired 3.24% of Tai-Er Catering

JMJ acquires a 3.24% stake in Tai Er Catering for Rmb199.5m, valuing the company at Rmb6,159m, while the selling parties retain 8.76%, with the remainder owned by JMJ
We viewed the acquisition valuation as reasonable at an annualised PE of 19x despite being at a premium to JMJ’s current valuation, given stronger growth trajectory for Tai Er
The transaction to be well supported by JMJ's strong net cash position
What will be the earnings impact for FY23E/FY24E?
Click here to read our views

DBS Group Research | Equity Picks

Singapore Equity Picks: Read more

Hong Kong Equity Picks: Read more

UOB

SP: Monthly Review and Outlook

https://research.uobkayhian.com/content_download.jsp?id=75954&h=1cfdf3e390adc43a235bedda982b66b5

UOBKH: Country Dailies: Friday, November 03, 2023

Click on the link for Greater China Daily.

https://research.uobkayhian.com/content_download.jsp?id=75933&h=744bd0b030f79872816874cd46aca834 Click on the link for Indonesia Daily. https://research.uobkayhian.com/content_download.jsp?id=75935&h=1879199be7f5be4fb551b99ea0212743 Click on the link for Malaysia Daily. https://research.uobkayhian.com/content_download.jsp?id=75947&h=afd01a6ed30df5d8ff3afe66079c569a Click on the link for Singapore Daily. https://research.uobkayhian.com/content_download.jsp?id=75925&h=4d046659e1ad67b44d425b5a1266bd1f Click on the link for Thailand Daily. https://research.uobkayhian.com/content_download.jsp?id=75949&h=178b79d3edfcf209eca7084d03e72a26

REG: Strategy: Alpha Picks – November 2023

https://research.uobkayhian.com/content_download.jsp?id=75930&h=51c12952e7d38a5f5fca6472af2b1fcc

UOBKH: Retail Market Monitor: Friday, November 03, 2023

https://research.uobkayhian.com/content_download.jsp?id=75924&h=98b73f5b0b30c9849a1e40f7dd45e722

KGI

Technical Analysis: 3 November 2023

🇸🇬 SG

Propnex Ltd. (PROP SP)

Japfa Ltd. (JAP SP)

🇭🇰 HK

Geely Automobile Holdings Ltd (175 HK)

Great Wall Motor Co Ltd (2333 HK)

TRADING IDEAS: 🇸🇬 SINGAPORE

3 November 2023

🏙 Banyan Tree Holdings Ltd. (BTH SP): Growing expansion plans

BUY Entry 0.385 – Target – 0.410 Stop Loss – 0.373

🏢 UMS Holdings (UMSH SP): Expect better 3Q23 earnings

BUY Entry 1.26 – Target – 1.36 Stop Loss –1.21

3 Nov2023 Reports

SGX

Recent Posts

Comments