Dow: -1.01%; S&P: -1.73%; Nasdaq: -2.55%
STI: -0.12%; Nikkei: -0.72%; HSI: -0.00%
VIX: 22.22 (+11.66%) ; CNN fear index: 39

Macro News
US stocks turn in worst week in 18 months over slowdown fears
https://www.ft.com/content/eb21baea-6050-42b2-a17a-c1122e9ae8b4

Nikkei leads losses in Asia, briefly falling 3% as markets decline after weak U.S. jobs data
https://www.cnbc.com/2024/09/09/asia-stock-markets-japan-q2-gdp-china-cpi.html

Unemployment falls, suggests orderly US labor-market slowdown
https://www.reuters.com/markets/us/us-job-growth-misses-expectations-august-unemployment-rate-slips-42-2024-09-06/

Yellen says U.S. economy remains solid, on path to ‘soft landing’ with no meaningful layoffs
https://www.cnbc.com/2024/09/07/yellen-says-us-economy-remains-solid-heading-toward-soft-landing.html

Foreign News
Dell and Palantir to join S&P 500; shares of both jump
https://www.cnbc.com/2024/09/06/dell-and-palantir-to-join-sp-500-shares-of-both-jump.html

Broadcom shares slump as revenue target fails to impress investors counting on AI boost
https://www.channelnewsasia.com/business/broadcom-shares-slump-revenue-target-fails-impress-investors-counting-ai-boost-4591326

SG news
REIT Index set to move progressively higher as Fed cut appears imminent
https://www.theedgesingapore.com/capital/right-timing/reit-index-set-move-progressively-higher-fed-cut-appears-imminent

Sale of Jem office may lower gearing to 35%; CGSI lowers LREIT’s TP of 71 cents
https://www.theedgesingapore.com/capital/brokers-calls/sale-jem-office-may-lower-gearing-35-cgsi-lowers-lreits-tp-71-cents

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CNBC

Nikkei leads losses in Asia; China inflation comes in weaker than forecast

Investors in Asia will assess Japan's revised second-quarter GDP and look toward China's August inflation data.

Best of Blogs

Investing
Best Fixed Deposit Rates in Singapore (September 2024)
https://drwealth.com/fixed-deposit-rates-singapore/

September is the Worst Month for Stocks, Should You Sell?
https://drwealth.com/september-is-the-worst-month-for-stocks-should-you-sell/

Nvidia Q2 2025 earnings call: AI and data centers continue to push growth
https://fifthperson.com/nvidia-q2-2025-earnings-call/

CICT acquires ION Orchard: 5 things to know
https://growbeansprout.com/cict-ion-orchard-acquisition-sep-2024

We’re building an enduring Singapore real estate enterprise: Far East Orchard’s Group CEO
https://growbeansprout.com/far-east-orchard-ceo-alan-tang

Personal Finance
Top 6 Tips for Better Finances as a Couple
https://financialhorse.com/top-6-tips-for-better-finances-as-a-couple/

How Much Commission Does Your Insurance Agent REALLY Earn?
https://sgbudgetbabe.com/how-much-commission-does-your-insurance-agent-earn/

How Much Does It Cost For Singapore Cars To Enter Malaysia? And Is It Worth Your Time (And Money)?
https://dollarsandsense.sg/cost-for-singapore-cars-to-enter-malaysia-worth-your-time-and-money/

Trusts: A powerful financial planning tool for any net worth
https://fifthperson.com/trusts-a-powerful-financial-planning-tool-for-any-net-worth/

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Dr Wealth

Best Fixed Deposit Rates in Singapore (September 2024)

Thinking of growing your savings at a higher rate? These are the best fixed deposit rates in Singapore now

Best of Analyst Reports

Strategy
Sep market view update – DBS
https://www.dbs.com/insightsdirect/country/CN458e4cbc78201c1aec5fc53a31c59378?source=vdailynewsletter&sourceid=tmp&subsource=&pagesec=whatsnew&pagesecid=21123

SG strategy – CGS
https://rfs.cgsi.com/api/download?file=ee106025-5f44-43da-ad2e-f2fefef7aba3&rpt=7730E8C9-D4A6-6693-3268-D345FCE6DC9B

SG REITS – UOBKH Overweight
https://research.uobkayhian.com/content_download.jsp?id=80941&h=aecbd04d7052bc60fc3bedbede337e2f&utm_medium=email&_hsenc=p2ANqtz-8yYziEzJHk8ot4stu4dWWEku1iqdxJAqQ06GaCuD6DYeh2_w6rgg94b8hwFfL31i-6-8PpAsw7e4tWyH2LQhGCUD_OHw&_hsmi=323205768&utm_content=323205768&utm_source=hs_email

REITS- POEMS
https://www.poems.com.sg/stock-research/sector-report/phillip-singapore-monthly-august24-reits-take-leadership/

Alphapicks UOBKH
https://research.uobkayhian.com/content_download.jsp?id=80901&h=88c03b34bb3d00bab7dbe9fde05e020e&utm_medium=email&_hsenc=p2ANqtz-98sTgtgdpyylL5V8moINaSTCKjw47OE9uIX8lGwNj08QxATqT7sovk1UA42l1LWnqd3ueZF1O8gcGMGF1IQImeb3FF0Q&_hsmi=323215915&utm_content=323215915&utm_source=hs_email

Singapore
Capitaland integrated commercial – CGS ADD TP S$2.21
https://rfs.cgsi.com/api/download?file=a37e76e8-38ff-4196-b726-94bd7f74bf74&rpt=7730E8C9-D4A6-6693-3268-D345FCE6DC9B

Seatrium- CGS ADD TP S$2.69
https://rfs.cgsi.com/api/download?file=13a6fb3b-5ce3-44b5-8366-2ad316ce15c4

Comfort Delgro- Maybank BUY TP S$1.65
https://mkefactsettd.maybank-ke.com/PDFS/404081.pdf

LHN – Maybank BUY TP S$0.43
https://mkefactsettd.maybank-ke.com/PDFS/404204.pdf

Foreign Stocks
China merchant bank – UOBKH BUY TP HK$42
https://research.uobkayhian.com/content_download.jsp?id=80893&h=19b953afa7f99ac0b3df648291a28242&utm_medium=email&_hsenc=p2ANqtz-9g0DFd5nRPJpIR6ZrGx5SB-ilG9kgDPdrLlQHsAZqZMnjbkm29gK9YWbJfTecENKYUgnw9UXIFzdgFc0sAHcUfS9ZrSA&_hsmi=322814106&utm_content=322814106&utm_source=hs_email

China construction bank – UOBKH BUY TP HK$6
https://research.uobkayhian.com/content_download.jsp?id=80892&h=cd179de58c6340faf5c9e4e921638f79&utm_medium=email&_hsenc=p2ANqtz-__YCxJvj4BwxbTfB7KDKEHvBBIV71uLRxKjS2iDaYsw6WZixblpj2VU-eW3dqPrxFoK6aqeqhi3_-vq40_DEI6kz-mmg&_hsmi=322814106&utm_content=322814106&utm_source=hs_email

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Dbs

DBS Research Insights Direct

A new research platform where users can get access to the knowledge base of DBS Group Research with coverage of more than 400+ Asian stocks.

Macro News
S&P 500 climbs to another record close Tuesday as Nvidia’s market cap tops Microsoft: Live updates
https://www.cnbc.com/2024/06/17/stock-market-today-live-updates.html

Asia-Pacific markets mostly rise; Japan exports top expectations
https://www.cnbc.com/2024/06/19/asia-pacific-markets.html

May retail sales rise 0.1%, weaker than expected
https://www.cnbc.com/2024/06/18/retail-sales-report-may-2024-may-retail-sales-rise-0point1percent.html

Hong Kong stock markets will continue trading during typhoons, starting Sept. 23
https://www.cnbc.com/2024/06/18/hong-kong-stock-markets-to-keep-trading-during-typhoons-starting-sept-23.html

Foreign NewsWarren Buffett buys Occidental shares for 9 straight days, pushes his stake to nearly 29%
https://www.cnbc.com/2024/06/18/warren-buffett-buys-occidental-shares-for-9-straight-days-pushes-his-stake-to-nearly-29percent.html

Nvidia passes Microsoft in market cap to become most valuable public company
https://www.cnbc.com/2024/06/18/nvidia-passes-microsoft-in-market-cap-is-most-valuable-public-company.html

Singapore
SingTel-KKR consortium to invest US$1.3 billion in ST Telemedia Global Data Centres
https://www.channelnewsasia.com/business/singtel-kkr-consortium-invest-us13-billion-st-telemedia-global-data-centres-4418801

Singapore crowned world's most competitive economy in 2024
https://www.theedgesingapore.com/news/singapore-economy/singapore-crowned-worlds-most-competitive-economy-2024

Singapore’s home prices could remain ‘flattish’; rents may drop by 5% - 10% in 2024: Bloomberg Intelligence
https://www.theedgesingapore.com/news/property/singapores-home-prices-could-remain-flattish-rents-may-drop-5-10-2024-bloomberg

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CNBC

S&P 500 climbs to another record close Tuesday as Nvidia’s market cap tops Microsoft: Live updates

The S&P 500 rose to a fresh record as artificial intelligence darling Nvidia continued its march to new highs.

Macro News
S&P 500 rises to record close on Monday, Dow snaps four-day losing streak: Live updates
https://www.cnbc.com/2024/06/16/stock-market-today-live-updates.html

China May retail sales beat expectations, but industrial output and fixed asset investment missed
https://www.cnbc.com/2024/06/17/china-may-retail-sales-beat-expectations-other-metrics-miss.html

Oil up on firming demand, Mideast tensions underpin risk premium
https://www.channelnewsasia.com/business/oil-firming-demand-mideast-tensions-underpin-risk-premium-4417516

Foreign News
Nvidia to get 20% weighting and billions in investor demand, while Apple demoted in major tech fund
https://www.cnbc.com/2024/06/17/nvidia-to-get-20percent-weighting-and-billions-in-investor-demand-while-apple-demoted-in-major-tech-fund.html

Apple stops offering buy now, pay later loans in U.S.
https://www.cnbc.com/2024/06/17/apple-stops-offering-buy-now-pay-later-loans-in-us-.html

Warren Buffett’s Berkshire Hathaway trims its stake in Chinese EV maker BYD to 6.9%
https://www.cnbc.com/2024/06/17/warren-buffetts-berkshire-hathaway-trims-its-stake-in-chinese-ev-maker-byd-to-6point9percent.html

Naver's Webtoon Entertainment targets up to $2.67 billion valuation in US IPO
https://www.channelnewsasia.com/business/navers-webtoon-entertainment-aims-267-billion-valuation-us-ipo-4416091

GameStop shares tumble after CEO says store network will shrink
https://www.channelnewsasia.com/business/gamestop-shares-tumble-after-ceo-says-store-network-will-shrink-4415881

Singapore News
MAS and CAD probing Seatrium under SFA over Operation Car Wash
https://www.theedgesingapore.com/news/company-news/mas-and-cad-probing-seatrium-under-sfa-over-operation-car-wash

OCBC's final offer of $25.60 for GEH is 'not fair but reasonable' says EY; advises shareholders to accept
https://www.theedgesingapore.com/news/ma/ocbcs-final-offer-2560-geh-not-fair-reasonable-says-ey-advises-shareholders-accept

George Yeo raises stakes in Creative Technology and Wilmar International; SGX buys back shares
https://www.theedgesingapore.com/capital/insider-moves/george-yeo-raises-stakes-creative-technology-and-wilmar-international-sgx-buys

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CNBC

S&P 500 rises to record close on Monday, Dow snaps four-day losing streak: Live updates

The S&P 500 rose Monday to close at a fresh record close as Wall Street looked to build on last week's gains.

Best of analyst reports

Singapore stocks
AEM – CGS Reduce TP $1.82
https://rfs.cgsi.com/api/download?file=2121fac0-1c50-43ae-a3c5-54bb7ea74963&rpt=5B5FA401-4944-E7AE-1FE3-992C693222F1

Yangzijiang Shipbuilding – UOBKH BUY TP $2.86
https://research.uobkayhian.com/content_download.jsp?id=79293&h=a37e1cc5548b6b87c9c25a26576e3094&utm_medium=email&_hsenc=p2ANqtz-8v-jTPVJoWtGHmY168rezcGueI6WKu9URd-9hq8aJOTW-ojAcb6O7Ov9yuHCvL0bhs4r8sf4f4csEWK79nCy-_mJ-k1g&_hsmi=310822960&utm_content=310822960&utm_source=hs_email

CSOP iEdge SREIT ETF S$ - Phillip Capital initiate BUY TP $0.87
https://www.poems.com.sg/stock-research/CSRTS.SG/

SUTL – SAC capital non-rated
https://www.saccapital.com.sg/wp-content/uploads/1970/01/SUTL-Sailing-Towards-Sustained-Growth-and-Strategic-Expansion-1.pdf

Foreign
HK Property- UOBKH Overweight
https://research.uobkayhian.com/content_download.jsp?id=79352&h=1893bc25d87f23e58c4c6b1a9b7c1036&utm_medium=email&_hsenc=p2ANqtz-9O3QSbYxEVBJSeESlIyN8-wguUDojli-YQF9Zl3QSDPxg5DyPY6WDIT_rUdIGiTVK4IYBrEMgo7fgDGV-wAAu4Pdrwww&_hsmi=311380701&utm_content=311380701&utm_source=hs_email

Indonesia strategy – UOBKH
https://research.uobkayhian.com/content_download.jsp?id=79289&h=7a85b4b989e24e19089c42f7802c6b2f&utm_medium=email&_hsenc=p2ANqtz-8YZRbqJwTzuSN6hkfqnuJrHd9I0wjaEX6m6HIgZOVpt0IhSBCB5O9s0IEOuMhuhqf9TBLcmx1eqhi5AwByJ8ubMNsy5A&_hsmi=310822960&utm_content=310822960&utm_source=hs_email

Magnificent 7 Monthly: May 24 - Best month this year – Phillip Capital
https://www.poems.com.sg/stock-research/strategy-report/magnificent-7-monthly-may-24-best-month-this-year/

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Best of Analyst Reports

Sector/Strategy
Why India now- JPM
https://privatebank.jpmorgan.com/apac/en/insights/markets-and-investing/why-india-now?pid=I0010807102-3&utm_source=email-pb&utm_medium=Asia-en-Investing&utm_campaign=20240411asf&utm_content=CTA&mkt_tok=MzkyLUhLQy04NzYAAAGSb2XlWhiOp8qxglaE1eECbndieDK-U_vbi7LfISRXuBbSBGs2PFpf-Tayn2osm5S6m-_Y-ZaAXzUwz-IXnd1jA8sGrJosScQLI4Gibn2A4pHFiw8

SG REITS- DBS
https://researchwise.dbsvresearch.com/ResearchManager/DownloadResearch.aspx?E=iacgikhfj

SG F&B – CGS International Neutral
https://rfs.cgsi.com/api/download?file=be3956be-4a24-4037-9ec3-c6c4268365e8&rpt=4D7F29FA-C48A-E307-EADC-7AC346B174BE

ASEAN Banks- UOBKH
https://research.uobkayhian.com/content_download.jsp?id=78223&h=f613252eccacc564fb3335167380efb7

SG Stocks
Mermaid- UOBKH Non rated
https://research.uobkayhian.com/content_download.jsp?id=78229&h=24b79cdd094be737e372bc6d655d2a4d

LHN Mabank BUY TP S$0.45
https://mkefactsettd.maybank-ke.com/PDFS/374792.pdf

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Jpmorgan

Why India Now? | J.P. Morgan Private Bank Asia

In today’s Asia Strategy Focus we address the key question facing investors: What’s driving the Indian market and can it continue?

Best of Blogs
Investing
Inflation jumps in March. What does it mean for your investments?
https://growbeansprout.com/consumer-price-index-cpi-interest-rate-april-2024

6-month T-Bills yields drop to 3.75% – Demand for T-Bills soars to record highs (11 April 2024 Auction Results)
https://financialhorse.com/6-month-t-bills-yields-drop-to-3-75-demand-for-t-bills-soars-to-record-highs-11-april-2024-auction-results/

Keppel DC REIT pays a 5.8% dividend yield – Will I buy this REIT after the tenant default? (as a Singapore Investor in 2024)
https://financialhorse.com/keppel-dc-reit-pays-a-5-8-dividend-yield-will-i-buy-this-reit-after-the-tenant-default-as-a-singapore-investor-in-2024/

5 Singapore Stocks that Underquote their Property Value
https://www.drwealth.com/5-singapore-stocks-that-underquote-their-property-value/

7 Singapore Blue Chips Down More Than 10% in 2024, Which To Buy?
https://www.drwealth.com/7-singapore-blue-chips-down-more-than-10-in-2024-which-to-buy/

Personal Finance
Deconstructing Daedalus My Passive Income Investment Portfolio for My Essential & Basic Spending.
https://investmentmoats.com/notes/deconstructing-daedalus-passive-income-investment-portfolio/

4 Things I wished I knew as a First-Time Resale Home Buyer
https://financialhorse.com/4-things-i-wished-i-knew-as-a-first-time-resale-home-buyer/

Why It Makes Financial Sense To Have Savings Accounts With Multiple Banks, Even If We Think We Don’t Need It
https://dollarsandsense.sg/makes-financial-sense-savings-accounts-multiple-banks-even-think-dont-need/

Salary Guide: How Much Does A Lawyer In Singapore Earn?
https://dollarsandsense.sg/lawyer-salary-guide-singapore/

Best credit cards to use for miles in 2024
https://sgbudgetbabe.com/miles-credit-cards-for-2024/

LPG Gas Cylinder VS Piped Gas VS Induction Cooktops: Which Is The Cheapest Option For Household Cooking?
https://dollarsandsense.sg/piped-gas-vs-lpg-gas-cylinder-vs-induction-cooktops-cheapest-option-household-cooking/

4 ways Malaysians can invest for retirement
https://fifthperson.com/4-ways-malaysians-can-invest-for-retirement/

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Growbeansprout

Inflation jumps in March. What does it mean for your investments?

The US consumer price index (CPI) rose more than expected in March. We find out what this may mean for your fixed deposit, T-bill and stock investments.

STI: -0.31 HSI: % Nikkei: -0.35%%
DOW: -0.01% S&P: 0.74% Nasdaq: 1.68%

Fear Index: 59/100(higher the greedier the market)

Macro News
S&P 500 closes higher in rebound from inflation-fueled sell-off; Apple and Nvidia pop: Live updates
https://www.cnbc.com/2024/04/10/stock-market-today-live-updates.html

Biden’s China tariff threats are more bark than bite, economists say
https://www.cnbc.com/2024/04/11/bidens-china-tariff-threats-are-more-bark-than-bite-economists-say.html

'Robust' US has helped improve global economic outlook: IMF chief
https://www.channelnewsasia.com/world/robust-us-has-helped-improve-global-economic-outlook-imf-chief-4258731

Foreign News
US cyber agency says Russian hackers use Microsoft access to steal government emails
https://www.channelnewsasia.com/business/us-cyber-agency-says-russian-hackers-use-microsoft-access-steal-government-emails-4259451

Apple plans Mac line overhaul with AI-focused M4 chips, Bloomberg News reports
https://www.channelnewsasia.com/business/apple-plans-mac-line-overhaul-ai-focused-m4-chips-bloomberg-news-reports-4259266

Apple shares have best day since last May
https://www.cnbc.com/2024/04/11/apple-stock-just-had-its-best-day-since-last-may-.html

Singapore News
MAS keeps monetary policy unchanged for fourth time in a row
https://www.channelnewsasia.com/singapore/mas-monetary-policy-singapore-april-2024-4258081

Singapore's economy grew at faster pace of 2.7% in Q1 of 2024: Advance estimates
https://www.channelnewsasia.com/singapore/singapore-gdp-grows-27-cent-2024-first-quarter-4257751

Cost of perpetual securities' reset in 2024 and 2025 may erode REITs’ DPUs: DBS
https://www.theedgesingapore.com//capital/reits/cost-perpetual-securities-reset-2024-and-2025-may-erode-reits-dpus-dbs

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CNBC

CFRA's Stovall says the S&P 500 can go higher, but expects a correction ahead. Here are his picks to play it

The strategist noted the best-performing groups in corrections going back to 1990 were gold, electric utilities and household product makers.

*? Lim & Tan Initiates “Buy” Rating on Marco Polo Marine?***

⛵️Marco Polo Marine Ltd. (SGX:5LY) Sailing Towards Success⛵️

Target Price: S$0.083

Key Highlights:

? Growth in Ship Chartering: MPM excels as demand outstrips supply in the AHTS and sector, leveraging on high OSV charter rates and Taiwan's wind farm projects to enhance market position and profitability.

?️ Robust Shipbuilding Segment: Backed by a substantial order book and key agreements for crew transfer vessels, MPM's shipbuilding division promises strong revenue visibility into FY25 and beyond.

? Solid Net Cash Position: Post-restructuring, MPM's financial health shines with a net cash position of S$60.8m, signalling readiness for the ongoing O&G upcycle and confidence in sustained growth, as evidenced by the reinstatement of dividends in FY23.

? Undemanding Valuations: Trading at attractive valuations compared to peers, MPM is positioned for upward revaluation, reflecting its growth potential in the current industry upcycle.

With strategic advantages across multiple segments, Marco Polo Marine is poised for continued success and offers an enticing opportunity for investors.

Read more: https://gem-comm.com/wp-content/uploads/2023/10/5-April-2024_Lim-Tan-Securities_Sailing-Towards-Success.pdf

#MarcoPoloMarine #InvestmentOpportunity #ShipCharteringGrowth #ShipbuildingStrength