In today’s briefing:
- Ohayo Japan | US Markets Steady as Fed Decision Takes Center Stage
- Real Estate: Location, Location, Location— Even More Relevant in Retail
- Singapore Market Roundup (09-Dec-2025): RHB raises Centurion’s target price to $1.86 with Perth
- Asia Real Estate Tracker (09-Dec-2025): Brookfield and GIC Buy Australia’s National Storage
- Thematic Report: Capex Revival Signals Strengthening Cycle- Public Momentum, Private Turning Point
Ohayo Japan | US Markets Steady as Fed Decision Takes Center Stage
- US equities were mixed as JPMorgan’s decline weighed on the Dow, small caps hit new highs on expected Fed easing, ahead of Wednesday’s rate decision.
- Markets focused on Wednesday’s Federal Reserve decision, with futures pricing an 87% probability of another quarter-point cut
- Okuma faces near-term pressure from a sizable share sale, but buybacks, low valuations and its AI-enabled Smart Factory platform support the longer-term outlook.
Real Estate: Location, Location, Location— Even More Relevant in Retail
- Solid fundamentals in DANHOS (Outperform, P$35 PT). Of all the companies in our Real Estate (Industrial, Commercial & Offices), DANHOS has the highest exposure to Mexico City, with 91% of its GLA concentrated in this region.
- The capital’s dense population, high labor participation, and predominantly working-age demographic support robust consumption and sustained demand for office, industrial and retail space.
- After a period of limited growth, DANHOS reactivated resumed growth at the end of 2023 and now has an attractive pipeline, particularly in industrial real estate, positioned to capture strong demand for logistics space in the Metropolitan Area of Mexico City.
Singapore Market Roundup (09-Dec-2025): RHB raises Centurion’s target price to $1.86 with Perth
- RHB raises Centurion’s target price to $1.86, adding Perth PBSA project.
- RHB calls CAREIT an appealing diversification with decent yields in an unrated report.
- Analysts predict significant growth potential for LHN.
Asia Real Estate Tracker (09-Dec-2025): Brookfield and GIC Buy Australia’s National Storage
- Brookfield and GIC have finalized a significant $2.6 billion acquisition of National Storage in Australia.
- NextDC has formed a partnership with OpenAI to develop a new data center campus in Sydney, enhancing tech infrastructure.
- Vanke is seeking a second extension for its $524 million onshore bond note, indicating ongoing financial strategies.
Thematic Report: Capex Revival Signals Strengthening Cycle- Public Momentum, Private Turning Point
- India’s capex cycle shows broad-based revival signs in FY26, with strong central, state, and CPSE spending and improving corporate and private project pipelines.
- Public sector momentum is now converging with rising private announcements, accelerating order books, and an impending power and renewables capex boom.
- India’s capex cycle is entering a structurally stronger phase, though uneven demand recovery and global uncertainties remain key constraints.
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