𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *18/11/25*

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STI: 4543 (-2) | HSI: 26384 (-188) | Dow: 46590 (-557) | S&P: 6672  (-61) | Nasdaq: 22708 (-192)

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*Nvidia nerves and market swerves*

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The market hit a pothole overnight, with the S&P 500 sliding as the shine came off the AI trade again. Nvidia took the brunt of it, which is fitting since its earnings on Wednesday are basically the main event this week. Expectations are sky high, maybe nose bleed high, for a company now valued around five trillion, and any wobble could shake the whole AI story. It did not help that Peter Thiel cashed out about one hundred million over the weekend, which only stoked the nerves.

On the macro side, the government is finally open again, which means the data fire hose is back on. Jobs and inflation prints return, starting with the September jobs report on Thursday. There is some noise around missing or truncated October data, so traders are bracing for messy signals. These numbers feed straight into December Fed expectations. After two cuts, the market is no longer convinced a third one is coming, with odds of another 25bps trim slipping to a bit over 40 percent. The October Fed minutes land Thursday as well, and are expected to lean hawkish, with Powell already warning that a December cut is far from a done deal.

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*Monday Market Wrap*

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Monday’s trading saw the STI dip 2.48 points to 4,543.59, as investors remained cautious amid ongoing China-Japan tensions and last week’s sharp sell-off in US markets. Regional markets were mixed, with Tokyo, Shanghai, and Hong Kong down, while Seoul, Taiwan, and Sydney posted gains. Key drivers included geopolitical concerns, investor caution ahead of tech earnings and interest rate signals, and valuation pressures in the banking and tech sectors.

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On SGX Group, Venture rose 2.95%, Jardine Matheson fell 3.49%, ST Engineering gained 2.12% after its STARCO stake sale, and Del Monte Pacific jumped 16.28% on strong earnings.

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In the article, I shared that the STI opened softer as investor sentiment remained cautious, with regional markets generally weak due to China-Japan tensions, caution around major tech earnings and interest rate signals, and concerns over bank margins and high valuations.

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Thanks to Senior Business News Correspondent, Lewis Ong (资深高级记者, 王阳发) for the market wrap, and to Albert Fong Say Kim for his valuable insights.

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https://www.zaobao.com.sg/finance/singapore/story20251117-7830458

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*Stock Watch Today*

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Watch out for the debut of *YZJ Maritime* (valued at 60c), a spin-off from YZJ Financial. They just announced that they had signed contracts to sell 4 medium range tankers for about US$180 million and entered into letters of intent for joint ventures to build 8 additional vessels, even before their listing today. The Group aims to capitalise on strong maritime demand and its strengthened balance sheet as it continues to expand its fleet and industry presence.

Definitely one stock that looks to attract market interest today.

https://links.sgx.com/1.0.0/corporate-announcements/OCPE7KXT8MIHG1BB/867374_YZJ%20Maritime_Press%20Release_VesselSales_17Nov_2025final.pdf

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Saw a surge in *MetaOptics* yesterday after news of its intention to list in NASDAQ. Definitely good news. Now it is more or less the execution risk. Would it be able to pull it off?.

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Big caps wise, on a personal level, I am still rooting for *Sembcorp, ST Engg, SATS* who are still looking steady on the charts. Let’s hope to see more upside.

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A bit biased here, I have a fond liking for *Bumitama Agri*. You might have read my many write-ups on it. Good earnings release. High dividend payouts (rare for a commodity stock). Expectation of a peak cycle in 4Q. All look aligned. CPO prices and political factors remain the main risks for this stock.

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===

*SGX Research Vault*

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*Institutional flows & Share Buybacks*

https://www.sgx.com/research-education/market-updates/20251117-tan-kok-huat-ceo-reclaims-global-boosts-stake

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===

*Happening Today*

SG XD:

— Frasers L&C Tr: SGD 0.0211 + SGD 0.0024 + SGD0.0034 + SGD0.0026

US:

— Industrial Production (Oct) / Factory Order (Oct) / API Weekly Crude Oil Stock

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===

*US Stocks news*

— *Alphabet* surged higher after Berkshire Hathaway revealed a new position in the tech giant, a move that comes as Warren Buffett approaches the end of his six-decade tenure at the conglomerate.

— *Dell* dropped over 8% after Morgan Stanley double-downgraded the PC and server maker's stock to "underweight" from "overweight."

— Morgan Stanley also downgraded *Hewlett Packard Enterprise* to "underweight" from "equal weight," and shares of the computer and printer specialist sank 7%.

— *Carvana* and *CarMax* both dropped after *Ford Motor* announced a partnership with *Amazon* to sell certified used vehicles through the e-commerce giant’s platform.

*after hours movers*

— *XP Inc*., Brazil’s leading tech-enabled financial platform, reported better-than-expected third-quarter results on Monday, with record net income driving shares up 4% in response to the earnings beat.

— *LifeMD, Inc* plunged 21% in after-hours trading Monday after the virtual primary care provider reported third-quarter financial results that fell short of analyst expectations, despite showing year-over-year growth

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===

*SG Stocks news*

— *Yangzijiang Shipbuilding* reports order wins of US$2.17 bil for 9MFY2025, four times more than a quarter ago

https://links.sgx.com/1.0.0/corporate-announcements/8IV45U8LI0BXI0MH/867284_YZJSH_3Q2025%20Results%20Presentation_final.pdf

— *SIA* posts 5.3% y-o-y increase in passenger traffic for Oct 2025 while cargo demand softens

https://links.sgx.com/1.0.0/corporate-announcements/XQK3GK9VIE2HKSX0/867293_opstats-oct25.pdf

— *CityDev* reported that Q3 2025 Singapore residential sales fell versus Q3 2024 due to no new launches, but 9M 2025 sales rose to $2.5 billion driven by The Orie project, alongside land acquisitions, Piccadilly Grand completion, and the strong launch of Zyon Grand.

https://links.sgx.com/1.0.0/corporate-announcements/UFWO597O6CWPOJEZ/867305_CDL%20Operational%20Update%20for%20the%20Quarter%20Ended%2030%20Sep%202025.pdf

— *Coliwoo Holdings* to launch first new property Coliwoo Midtown in 1Q2026

https://www.theedgesingapore.com/news/property/coliwoo-holdings-launch-first-new-property-coliwoo-midtown-1q2026

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===

*SG Earning calendar*

19/11: CSE Global

20/11: iREIT

^ denote before market opens.

.

Sources:

www.sgx.com

www.investing.com

www.theedgesingapore.com

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Start your investment journey here:

https://tinyurl.com/gotopoems

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Cheers!

Dan

Disclaimer: https://tinyurl.com/dan-disclaimer

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#dailyupdate #tradeSGX #poems #danccs

𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *17/11/25*

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STI: 4546 (-30) | HSI: 26572 (-500) | Dow: 47147 (-309) | S&P: 6734  (-3) | Nasdaq: 22900 (+30)

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*AI’s Late Game Rescue, Fed Throws a Curveball*

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US markets wobbled overnight, with the S&P 500 ending a touch lower, but the real story was tech pulling off a late day rescue. Dip hunters swooped in on AI names, lifting Nvidia, Oracle and Palantir after the recent selloff. Nvidia’s rebound comes just a week before its results, which everyone sees as the unofficial health check for AI demand. Sentiment is cautious though, with Barclays hinting that investors are bracing themselves.

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The rate cut party for December also lost some glitter. Hawkish Fed voices, from Kashkari to Hammack, pushed traders to trim expectations to about even odds for a December move, down from last week’s almost 70 percent. Jobless claims dipped slightly, but not enough to strengthen the case for a cut, especially with the long shutdown still muddying the data. For now, markets are stuck in a wait and see mode, balancing AI optimism with Fed uncertainty.

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*What’s brewing next week?*

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Next week is shaping up to be a lively one, with a mix of heavyweight earnings and a slow thaw in economic data after the long government shutdown. The spotlight will be on *Nvidia* midweek as the market looks for reassurance that AI demand is still powering ahead. Retail is also in full swing, with *Home Depot* kicking things off Tuesday, followed by Target, Lowe’s and TJX on Wednesday, then Walmart taking center stage Thursday as it heads into a leadership transition. These reports should give investors a clearer read on consumer strength heading into the holiday stretch.

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On the macro side, housing will be an ongoing theme. Existing home sales arrive Wednesday and housing starts could appear as well, depending on how quickly agencies get back on their feet after the stoppage. We also get the October FOMC minutes, which may offer clues about how divided policymakers are on the path for rates. Late in the week, the Philadelphia Fed survey, jobless claims if they are released, and the final consumer sentiment reading will round out the picture of how households and businesses are feeling. All in all, it is a week where corporate results are likely to drive most of the conversation, with a few key data points adding some color as Washington gets back online.

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Outside the US, it is jam packed! Japan kicks things off with its Q3 GDP figures, giving a peek into how the economy is holding up. Singapore follows with October’s non-oil exports and trade balance, likely giving clues on external demand. In midweek, Europe takes the spotlight with the ECB’s non-monetary policy meeting, which could hint at future policy moves. Thursday sees China updating its Loan Prime Rates for both 1- and 5-year loans, while Hong Kong releases its CPI data, giving a sense of inflation pressures in the region. The week wraps up with Japan’s National Core CPI, a reminder that inflation is a global story right now.

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===

*Happening Today*

SG XR:

— Aoxin Q & M: Rights OFFER OF 1 FOR 1

SG:

— Non-Oil Export

JP:

— GDP / Industrial Production

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===

*US Stocks news*

— *Applied Materials* warned that spending on chipmaking gear in China is anticipated to fall next year due to more stringent U.S. export controls. The comments come after the semiconductor company flagged that its fiscal 2026 revenue faces a $600 million hit from expanded U.S. restrictions on exports of cutting-edge chip equipment to China.

— *Walmart* fell after the retailer announced that John Furner will become its next president and chief executive officer, succeeding longtime CEO Doug McMillon in early 2026.

— *Warner Bros Discovery* rose after the Wall Street Journal reported that Paramount, Comcast and Netflix are preparing bids for the media company.

— *StubHub* slumped after the ticket vendor’s CEO Eric Baker declined to provide guidance for the current quarter while reporting its first quarterly results since its September IPO.

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===

*SG Stocks news*

— 👍 *ST Engineering* is selling its entire 49 percent stake in Shanghai airframe MRO joint venture STARCO to China Eastern Airlines for about S$124.6 million, after which CEA will own the venture fully.

— *Capitaland Investments* The Ascott has released an open access disability inclusion playbook for the accommodation sector, developed with global experts and partners, alongside new company wide commitments such as standardised accessibility profiles, frontline disability awareness training and future reporting on the hiring of persons with disabilities.

— 👍*Frencken Group* posted higher 3Q25 revenue and profit, driven by stronger Mechatronics sales that outweighed softer IMS performance and lifted margins slightly.

https://links.sgx.com/1.0.0/corporate-anno...

— 👎*Nam Cheong* earnings down 3% y-o-y to RM45.8 mil in 3QFY2025 from absence of one-off costs

https://links.sgx.com/1.0.0/corporate-announcements/ECZ6VE6YF6FFLQB4/867203_NCL%203Q2025%20Press%20Release%20Final.pdf

— ‼️ *Metro Holdings* sinks into the red for 1HFY2026 with net loss of $12.9 mil

https://links.sgx.com/1.0.0/corporate-announcements/4LZTUP895FYIXDMD/867200_MHL-1HFY2026-NR.pdf

—👎 *Azeus Systems* earnings down 1% y-o-y in 1HFY2025 to HK$48.3 mil; interim dividend of HK$1.60 per share declared

https://links.sgx.com/1.0.0/corporate-announcements/L04LH366F7WQQ80E/867121_Azeus%20-%201H2026%20Results%20NR%20-%20Nov%2014.pdf

—💪 *The Hour Glass* earnings up 23% y-o-y to $75.7 mil for 1HFY2025

https://www.theedgesingapore.com/capital/results/hour-glass-earnings-23-y-o-y-757-mil-1hfy2025

— 💪 *Geo Energy* doubled its sales volume in 3Q2025, lifting revenue by 62% and maintaining profitability despite lower prices, while declaring an interim dividend of 0.10 SG cent per share.

https://links.sgx.com/1.0.0/corporate-announcements/GYVAPQ86WJ7CY210/867113_3Q2025%20Media%20Release.pdf

—💪 *Sanli* delivered strong earnings in 1H2026 with gross profit up 16.7% and net profit up 84.1% toS$ 3.2 M, supported by higher margin EPC work, sustained O and M growth and a record order book that strengthens future revenue visibility.

https://links.sgx.com/1.0.0/corporate-announcements/WHG3M5NPB9ZKG4VY/867163_Sanli%20-%20Presentation%20Slides_Nov%202025.pdf

—💪 *Zixin Group* nearly doubled its net profit to RMB16.1M in 1H FY26 on the back of a 40.8% rise in revenue driven by stronger performance across its fully integrated sweet potato value chain.

https://links.sgx.com/1.0.0/corporate-announcements/BOM21MFHYEQ4C3E2/867170_ZGH_1H%20FY26%20Results%20Press%20Release%2014%20Nov%202025.pdf

— 💪 *Skylink Holdings* delivered strong maiden 1H2026 results after its RTO, with revenue up 33.8%, profit metrics rising across the board and robust cash generation driven mainly by growth in its commercial vehicle leasing and engineering businesses.

https://links.sgx.com/1.0.0/corporate-announcements/AW9G0KH8YRNLK1UY/867190_Skylink_PR_1H2026.pdf

— *Cordlife* posted a 52% jump in revenue to 29.4 million dollars for 9M2025 and nearly halved its net loss as operations resumed, while it works through MOH flagged compliance issues and focuses on stabilising its business.

https://links.sgx.com/1.0.0/corporate-announcements/LNF0UJU44W7S7HGO/867253_CGL%20-%20Press%20Release.pdf

— 📝 *MetaOptics* to seek dual listing in Nasdaq

— *Addvalue Technologies* announce that the Group has secured several new orders worth approximately US$3.6 millio through one of its key growth drivers, Space Connectivity (“SPC”)-related Business

.

===

*SG Earning calendar*

19/11: CSE Global

20/11: iREIT

^ denote before market opens.

.

Sources:

www.sgx.com

www.investing.com

www.theedgesingapore.com

.

Start your investment journey here:

https://tinyurl.com/gotopoems

.

Cheers!

Dan

Disclaimer: https://tinyurl.com/dan-disclaimer

.

#dailyupdate #tradeSGX #poems #danccs

$OCBC Bank(O39.SI) With prices breaching the 18.00 resistance upon earnings, a support could be found as prices attempt to test the 19.00 resistance.

Moving Averages starting to slope up again after four months of consolidations.

2 1GT Bullish signals in play now, could we see another if the 19.00 resistance is broken, with next target potentially toward 20.00.

$Keppel(BN4.SI) Indeed breaking above the 10.00 resistance(turned support), prices attempted to push higher toward the 10.50 resistance where sellers came in for profit taking.

Finding a higher support at the 10.000 psychological level, prices looks to consolidate around this level, as buyers looks to be keen to bargain hunt.

Moving Averages still signalling strength with the 20 day moving average above the 100 day and 200 day moving average, 2 1GT Bullish signals still playing out.

Could we see a new 1GT Bullish signal appear if the 10.50 resistance gives way, opening up the next target of 11.00?

🚨 𝟑 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞 𝐑𝐄𝐈𝐓𝐬 𝐓𝐡𝐚𝐭 𝐒𝐦𝐚𝐫𝐭 𝐌𝐨𝐧𝐞𝐲 𝐈𝐬 𝐐𝐮𝐢𝐞𝐭𝐥𝐲 𝐀𝐜𝐜𝐮𝐦𝐮𝐥𝐚𝐭𝐢𝐧𝐠…
>> https://youtu.be/7BPqD4RPTZs

They’re already trending up — but I think there’s 𝐒𝐓𝐈𝐋𝐋 𝐑𝐎𝐎𝐌 to run. 📈😎💪

Just dropped a quick video breaking down the charts, signals, and setups using my 1GT Strategy.

🎥 Watch it here before they move again.
$StarhillGbl Reit(P40U.SI) $Keppel Reit(K71U.SI) $Suntec Reit(T82U.SI)

@sgsiasorg Calling all NetLink NBN Trust unitholders!

Join us for an exclusive briefing hosted by SIAS with NetLink’s management team. Gain key insights into FY25 highlights and discover what’s ahead for FY26. Don’t miss this opportunity to get your questions answered and stay informed.

Date: 9 July, Wednesday

Time: 12.00pm - 1.00pm SGT
Location: SIAS Training Room

Register now: https://bit.ly/3HK3V2r

#NetLinkNBNTrust #SIAS #InvestorBriefing

@sgsiasorg Calling all NetLink NBN Trust unitholders!

Join us for an exclusive briefing hosted by SIAS with NetLink’s management team. Gain key insights into FY25 highlights and discover what’s ahead for FY26. Don’t miss this opportunity to get your questions answered and stay informed.

Date: 9 July, Wednesday

Time: 12.00pm - 1.00pm SGT
Location: SIAS Training Room

Register now: https://bit.ly/3HK3V2r

#NetLinkNBNTrust #SIAS #InvestorBriefing

Struggling with investing? You’re not alone!

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https://youtu.be/HjlXvWKFl74
$DBS(D05.SI) $Singtel(Z74.SI) $JMH USD(J36.SI) $Venture(V03.SI)

https://www.youtube.com/watch?v=JV-E5prHN3I
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI)

https://youtu.be/b0lqDpUTbqI
$DBS(D05.SI) $OCBC Bank(O39.SI) $Singtel(Z74.SI)

🪙 Prime US REIT (YTD +15.79% | 5D +0.51%) $Prime US ReitUSD(OXMU.SI)
3Q 2025 update: Committed occupancy rose to 80.7%, with 92,000 sq ft of new leases signed in the quarter and 6.4% rental reversion for 9M 2025. Major new leases include X-Energy (120,000 sq ft, 11 years) and a 20-year U.S. government lease. Raised US$25m equity in October to fund capex and boost debt headroom; aims to normalise distributions in 2026.

🪙 United Hampshire US REIT (YTD +6.32% | 5D +3.06%) $UtdHampshReitUSD(ODBU.SI)
3Q 2025 results: Gross revenue +1.4%, NPI +5.7% YoY, occupancy 97%, and self-storage 94.9%. Maintains low leverage (37.8%) and long WALE (7.5 years), with minimal near-term lease expiries.

🪙 Stoneweg Europe Stapled Trust (YTD –2.56% | 5D –3.18%) $Stoneweg EUTrust EUR(SET.SI) $Stoneweg EUTrust SGD(SEB.SI)
Exited Slovakia for €70m and completed an €11.4m asset sale in Italy, continuing portfolio streamlining in Europe.

🪙 BHG Retail REIT (YTD –2.22%) $BHG Retail Reit(BMGU.SI)
3Q 2025 business update: Gearing 42%, cost of debt 4.4%, ICR 1.8x. WALE 2.3 years (by income) and 4.4 years (by NLA); continues prudent capital management amid China retail headwinds.

See detailed announcements here:
https://reitsavvy.com/insights/s-reits-wee...

🪙 Elite UK REIT (YTD +20.34% | 5D –1.39%) $EliteUKREIT GBP(MXNU.SI)
3Q 2025 update: Occupancy rose to 98.6%, and ICR improved to 2.7x on lower interest costs. Growth driven by rental reversions and new acquisitions. Progressed redevelopment plans for Cambria House (Cardiff) and Lindsay House (Dundee) into student accommodation assets.

🪙 Lendlease Global Commercial REIT (YTD +14.55% | 5D –1.56%) $Lendlease Reit(JYEU.SI)
Announced acquisition of a 70% stake in PLQ Mall, strengthening its Singapore retail footprint. Completed private placement of S$280m, upsized from S$270m and ~3x covered, at a 3.7% discount to VWAP.

🪙 Frasers Logistics & Commercial Trust (YTD +7.95% | 5D +0.52%) $Frasers L&C Tr(BUOU.SI)
FY2025 results: Rental reversion +5% (incoming basis) and +29.5% (average basis). Leased 510,300 sqm, raising occupancy to 95.1% and WALE to 4.8 years. Maintained low leverage at 35.7% and strong ICR of 4.3x.

🪙 AIMS APAC REIT (YTD +12.80% | 5D +2.17%) $AIMS APAC Reit(O5RU.SI)
1H FY2026: NPI +1.1% YoY, DPU +1.6%, occupancy 93.3%, and rental reversion +7.7%. Balance sheet remains robust (leverage 35%). Announced acquisition of The Framework Building and completed new solar installations across three properties.

See detailed announcements here:
https://reitsavvy.com/insights/s-reits-wee...

Technical Analysis
The chart for $CapitaLandInvest(9CI.SI) suggests the stock has recently bounced off a strong support level (200D SMA) around S$2.60. The 200-day Moving Average (MA) is currently acting as a support level, suggesting the stock is transitioning from a long-term bearish phase to a neutral or potentially bullish one. The short-term uptrend is key; a sustained breakout above S$2.70 (a more substantial near-term resistance) would confirm bullish momentum, targeting the next resistance zone around S$2.75-$2.80. Conversely, a drop and close below S$2.60 would signal a failure of the current recovery and could see the price re-test the S$2.50 support.

CapitaLandInvest ($9CI.SG) Flirts with a Breakout Amid Strategic M&A Talks! 🚀
CapitaLand Investment (CLI) stock is showing signs of a technical rebound, bouncing strongly off key support at S$2.60 and consolidating above the S$2.65 level. This potential uptrend is fueled by recent positive developments and a powerful push towards an asset-light, fee-income-driven model.

The momentum follows CLI's recent 3Q 2025 Business Update, which highlighted robust fundraising and portfolio optimisation. Critically, market reports suggest CLI and Mapletree Investments are in talks for a potential mega-merger, which could create a "formidable" global real-estate platform with an estimated S$180 billion in Funds Under Management (FUM)!

While CLI's 9M revenue saw a dip, the focus remains on its Fee Income-Related Business (FRB) growth and global expansion into high-growth sectors like data centres. Analysts maintain a bullish outlook, with average price targets significantly above the current price.

Watch S$2.70! A solid close above this resistance could unlock the next leg up for this global asset manager.