Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>uSmart starts coverage of Azeus Systems with a 'hold' rating, target $9.45.</li><li>Jefferies starts coverage on Singapore banks, targets DBS at $91.</li><li>KGI keeps Q&amp;M Dental at 'outperform' due to disciplined growth.</li></ul>

uSmart starts coverage of Azeus Systems with a 'hold' rating, target $9.45.Jefferies starts coverage on Singapore banks, targets DBS at $91.KGI keeps Q&amp;M Dental at 'outperform' due to disciplined growth.

Singapore Market Roundup (22-Sep-2026): uSmart initiates Azeus Systems with 'hold', target $9.45.

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Cross Asset Strategy

<ul>
<li>The Fed has embarked on a rate hike cycle and one more hike in December seems baked in. Treasury yields hovering at higher than 5% seem to portend more hikes.</li>
<li>Asian yields started rising and PE peaked a year ago. Foreign flows, also impacted by US yields, dropped massively in 2025-26. Valuations and flows are anticipating the bad news already.</li>
<li>Banks, insurance and basic materials should do well in an inflationary and tighter monetary environment. These sectors are also cheap in relation to their future earnings growth and ROE.</li>
</ul>


The Fed has embarked on a rate hike cycle and one more hike in December seems baked in. Treasury yields hovering at higher than 5% seem to portend more hikes.
Asian yields started rising and PE peaked a year ago. Foreign flows, also impacted by US yields, dropped massively in 2025-26. Valuations and flows are anticipating the bad news already.
Banks, insurance and basic materials should do well in an inflationary and tighter monetary environment. These sectors are also cheap in relation to their future earnings growth and ROE.


Asian Equities: As Fed Hikes Loom, Asia’s Derating Clears the Path for Selective Sectoral Rerating

<ul><li>UOBKH's Chen downgrades SIA to 'sell' due to rising fuel costs; keeps Air India 'neutral'.</li><li>Evolve Capital maintains 'buy' rating, lowers target to 38 cents for ASL Marine.</li><li>CGS International starts coverage on All-Link Air &amp; Sea with a 92¢ target price.</li></ul>

UOBKH's Chen downgrades SIA to 'sell' due to rising fuel costs; keeps Air India 'neutral'.Evolve Capital maintains 'buy' rating, lowers target to 38 cents for ASL Marine.CGS International starts coverage on All-Link Air &amp; Sea with a 92¢ target price.

Singapore Market Roundup (16-Sep-2026): UOBKH's Chen downgrades SIA to 'sell' amid rising fuel

<ul><li>CGS International starts coverage of All-Link Air &amp; Sea with a 92-cent target.</li><li>DBS lowers target price for UltraGreen.ai to 65 US cents.</li><li>SAC Capital lowers ISOTeam target price to 7.1 cents after FY2026 miss.</li></ul>

CGS International starts coverage of All-Link Air &amp; Sea with a 92-cent target.DBS lowers target price for UltraGreen.ai to 65 US cents.SAC Capital lowers ISOTeam target price to 7.1 cents after FY2026 miss.

Singapore Market Roundup (15-Sep-2026): CGS International sets All-Link Air & Sea target at 92

<ul><li>SAC Capital lowers ISOTeam target price to 7.1 cents after disappointing FY2026 results.</li><li>UOBKH keeps 'buy' on Singtel, values Nxera at up to $4.5 billion for listing.</li><li>CGS International stays positive on Pan-United’s prospects.</li></ul>

SAC Capital lowers ISOTeam target price to 7.1 cents after disappointing FY2026 results.UOBKH keeps 'buy' on Singtel, values Nxera at up to $4.5 billion for listing.CGS International stays positive on Pan-United’s prospects.

Singapore Market Roundup (14-Sep-2026): SAC Capital cuts ISOTeam target price to 7.1 cents after

Singapore

DBS Group Holdings Ltd is a leading financial services group in Asia, providing a comprehensive range of commercial banking and financial services. It offers retail, SME, corporate, and investment banking, including accounts, loans, cards, payments, investments, and insurance products. The company is headquartered in Singapore and was founded in 1968.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

DBS Group (DBSDY US)

Singapore Market Roundup (22-Sep-2026): uSmart initiates Azeus Systems with 'hold', target $9.45.

uSmart rates Azeus Systems 'hold' with a target of $9.45. Jefferies targets DBS at $91, while KGI rates Q&M Dental 'outperform' for its growth.

Singapore Market Roundup

Asian Equities: As Fed Hikes Loom, Asia’s Derating Clears the Path for Selective Sectoral Rerating

Skyrocketing US yields portend more hikes. Asian yields rose & PE peaked a year ago. Foreign outflows over 25-26 seem to anticipate the tightening....

Manishi Raychaudhuri

Singapore Market Roundup (16-Sep-2026): UOBKH's Chen downgrades SIA to 'sell' amid rising fuel

UOBKH downgrades SIA to 'sell' amid rising fuel costs; keeps Air India 'neutral'. Evolve Capital lowers ASL Marine target to 38¢; CGS starts All...

Singapore Market Roundup

Singapore Market Roundup (15-Sep-2026): CGS International sets All-Link Air & Sea target at 92

CGS International sets All-Link Air & Sea target at 92 cents; DBS lowers UltraGreen.ai to 65 cents; SAC Capital cuts ISOTeam to 7.1 cents after...

Singapore Market Roundup

Singapore Market Roundup (14-Sep-2026): SAC Capital cuts ISOTeam target price to 7.1 cents after

SAC Capital cuts ISOTeam target to 7.1 cents post-FY2026 results; UOBKH maintains 'buy' on Singtel, valuing Nxera at $4.5B; CGS International...

Singapore Market Roundup

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)