Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>MPACT's overseas assets underperformed in 3QFY2025 according to analysts, highlighting a weakness in that area of the business.</li><li>DBS has launched ETFs in US equities, AI, small caps, and gold, expecting them to perform well under Trump 2.0 presidency.</li><li>Both RHB and DBS remain optimistic about ESR REIT despite a decrease in DPU, indicating a bullish outlook on the real estate investment trust.</li></ul>

MPACT's overseas assets underperformed in 3QFY2025 according to analysts, highlighting a weakness in that area of the business.DBS has launched ETFs in US equities, AI, small caps, and gold, expecting them to perform well under Trump 2.0 presidency.Both RHB and DBS remain optimistic about ESR REIT despite a decrease in DPU, indicating a bullish outlook on the real estate investment trust.

Singapore Market Roundup (27-Jan-2025): MPACT's overseas assets weak in 3QFY2025.

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>For the week ending 17/Jan, U.S. crude inventories fell by 1m barrels, missing expectations of a 2.1m barrel decrease. Gasoline stockpiles rose less than expected.</li>
<li>U.S. natural gas inventories fell by 223 Bcf for the week ending 17/Jan, missing analyst expectations of a 270 Bcf drawdown. Inventories are 0.7% above the 5-year seasonal average.</li>
<li>J.P. Morgan, HSBC, TD Cowen, Barclays, and Citigroup raised their 12-month PTs on SLB post its Q4 earnings. Halliburton reported a YoY decline in Q4 revenue and EPS.</li>
</ul>


For the week ending 17/Jan, U.S. crude inventories fell by 1m barrels, missing expectations of a 2.1m barrel decrease. Gasoline stockpiles rose less than expected.
U.S. natural gas inventories fell by 223 Bcf for the week ending 17/Jan, missing analyst expectations of a 270 Bcf drawdown. Inventories are 0.7% above the 5-year seasonal average.
J.P. Morgan, HSBC, TD Cowen, Barclays, and Citigroup raised their 12-month PTs on SLB post its Q4 earnings. Halliburton reported a YoY decline in Q4 revenue and EPS.


[ETP 2025/04] WTI Falls on Trump’s Push for Higher Oil Output, Henry Hub Climbs on Colder Forecasts

HarmoniQ Insights

William Mann

Independent Insight Provider

At HarmoniQ Insights, we empower investors to enhance their investment strategies by integrating cutting-edge quantitative research processes and technologies. Our solutions provide access to leading quantitative data providers and services, tailored to align with each client’s unique goals. By bridging the gap between traditional investment approaches and advanced data-driven methods, we help clients gain a competitive edge through innovation in both process and technology.

Cross Asset Strategy

<ul><li>Bill and Chris use LLMs like ChatGPT, Claude, and Google Gemini to gather and synthesize investment outlooks from experts.</li><li>They create an alpha capture portfolio based on sentiment, risk premia, and expected returns across assets, regions, sectors, and ETFs.</li><li>Using their methodology, they design a portfolio of 10-12 ETFs for long and short positions, ensuring a balance of exposures and avoiding overlap in stock constituents.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Bill and Chris use LLMs like ChatGPT, Claude, and Google Gemini to gather and synthesize investment outlooks from experts.They create an alpha capture portfolio based on sentiment, risk premia, and expected returns across assets, regions, sectors, and ETFs.Using their methodology, they design a portfolio of 10-12 ETFs for long and short positions, ensuring a balance of exposures and avoiding overlap in stock constituents.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Inauguration, The Trump Trade & Building Smarter Portfolios with LLMs | The New Barbarians #004

<ul><li>DBS may need to accelerate expansion into Malaysian market due to urgency of JS-SEZ project, according to CreditSights.</li><li>Singtel is focused on enhancing shareholder value, as confirmed by UOBKH, which also maintains a buy rating for KORE and Prime post office return mandate.</li><li>Venture Corp receives a 'buy' rating from UOB Kay Hian due to promising medium-term growth prospects, while Maybank predicts S-REIT distributions to stabilize by 2H2025 and growth in FY2026.</li></ul>

DBS may need to accelerate expansion into Malaysian market due to urgency of JS-SEZ project, according to CreditSights.Singtel is focused on enhancing shareholder value, as confirmed by UOBKH, which also maintains a buy rating for KORE and Prime post office return mandate.Venture Corp receives a 'buy' rating from UOB Kay Hian due to promising medium-term growth prospects, while Maybank predicts S-REIT distributions to stabilize by 2H2025 and growth in FY2026.

Singapore Market Roundup (21-Jan-2025): DBS must accelerate Malaysia expansion due to JS-SEZ urgency - CreditSights

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Equity Bottom-Up

<ul>
<li>BAC shows strong growth of its core income in the period YoY, almost accounting for 100% of its full net profit delta YoY</li>
<li>The bank is showing greater strength in corporate lending YoY and QoQ, and this can be more powerful of a statement for economic health</li>
<li>NCO figures are coming down in corporate lending, while residential mortgages is seeing strong new originations - both are a good view on US economy</li>
</ul>


BAC shows strong growth of its core income in the period YoY, almost accounting for 100% of its full net profit delta YoY
The bank is showing greater strength in corporate lending YoY and QoQ, and this can be more powerful of a statement for economic health
NCO figures are coming down in corporate lending, while residential mortgages is seeing strong new originations - both are a good view on US economy


BAC - Almost All of Net Profit Delta YoY Is Core Income, with Strong Corporate Lending in QoQ

United States

Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers. The Company services include investment banking, retail brokerage, corporate banking, and cash management products and services. Citigroup serves customers globally.

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Citigroup Inc (C US)

Singapore Market Roundup (27-Jan-2025): MPACT's overseas assets weak in 3QFY2025.

MPACT's overseas assets disappointing, DBS launches new ETFs under Trump 2.0, RHB & DBS optimistic on ESR REIT despite lower DPU.

Singapore Market Roundup

[ETP 2025/04] WTI Falls on Trump’s Push for Higher Oil Output, Henry Hub Climbs on Colder Forecasts

US crude inventories fell less than expected, while gasoline stockpiles rose less than expected. Natural gas inventories also fell short of...

Mint Finance

Inauguration, The Trump Trade & Building Smarter Portfolios with LLMs | The New Barbarians #004

Mark Connors, Christopher Rose, and Bill discuss market sell-offs, portfolio design, stablecoins, Bitcoin concentration, AI research tools, and...

William Mann

Singapore Market Roundup (21-Jan-2025): DBS must accelerate Malaysia expansion due to JS-SEZ urgency - CreditSights

DBS urged to accelerate expansion into Malaysia as Singtel aims to enhance shareholder value, UOBKH maintains buy ratings for KORE and Prime,...

Singapore Market Roundup

BAC - Almost All of Net Profit Delta YoY Is Core Income, with Strong Corporate Lending in QoQ

BAC is showing most all of its net profit delta in the past year coming from core income, which is positive. Its corporate lending appears strong,...

Daniel Tabbush

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52-week Range

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Singapore Market Roundup (27-Jan-2025): MPACT's overseas assets weak in 3QFY2025.

MPACT's overseas assets disappointing, DBS launches new ETFs under Trump 2.0, RHB & DBS optimistic on ESR REIT despite lower DPU.

Singapore Market Roundup

[ETP 2025/04] WTI Falls on Trump’s Push for Higher Oil Output, Henry Hub Climbs on Colder Forecasts

​US crude inventories fell less than expected, while gasoline stockpiles rose less than expected. Natural gas inventories also fell short of...

Mint Finance

Inauguration, The Trump Trade & Building Smarter Portfolios with LLMs | The New Barbarians #004

Mark Connors, Christopher Rose, and Bill discuss market sell-offs, portfolio design, stablecoins, Bitcoin concentration, AI research tools, and...

William Mann

Singapore Market Roundup (21-Jan-2025): DBS must accelerate Malaysia expansion due to JS-SEZ urgency - CreditSights

DBS urged to accelerate expansion into Malaysia as Singtel aims to enhance shareholder value, UOBKH maintains buy ratings for KORE and Prime,...

Singapore Market Roundup

BAC - Almost All of Net Profit Delta YoY Is Core Income, with Strong Corporate Lending in QoQ

BAC is showing most all of its net profit delta in the past year coming from core income, which is positive. Its corporate lending appears strong,...

Daniel Tabbush

US crude inventories fell less than expected, while gasoline stockpiles rose less than expected. Natural gas inventories also fell short of...