The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0632 GMT - Investors should be cautious about making too large exposures to private credit, MFS Investment Management's Benoit Anne says in a note. "Public versus private" is a hot topic in MFS IM's client meetings, says the head of MFS's market insights group. The real question, in his opinion, is how large should one's exposure to private credit be? "Not too much is our short answer," Anne says. Exposure to private credit does make sense for the right type of investors, given their differentiated risk profile and time horizon, but there is no denying that stress has been mounting in that asset class, he says. (emese.bartha@wsj.com)
0623 GMT - Genting Singapore's latest earnings were underwhelming, says Maybank IB analyst Yin Shao Yang, as the brokerage cuts the stock's rating to hold from buy. VIP volume fell around 15% on quarter, while mass market gross gaming revenue rose only 1%, the analyst says. Both metrics were expected yield better results, given the opening of the The Laurus, an all-suite resort in October, catered to accommodate more VIPs and premium mass gamblers, the analyst notes. Maybank lowered its target price of the stock to S$0.73 from S$1.00. Shares are last down 7.6% at S$0.73.(amanda.lee@wsj.com)
0620 GMT - HSBC reported a better-than-expected quarter on strength in net interest income and wealth, leading it to issue guidance ahead of consensus, Jefferies says in a note. The global bank's robust beat, which was driven by deposit growth and higher rates in Hong Kong, and visibility from the structural hedge, gives management the conviction to guide for at least $45 billion in net interest income for 2026, analysts write. This is $1.5 billion higher than expectations and implies single-digit upside to consensus, they add. Guidance for its annual costs implies a $33.8 billion cost base that beats estimates. "We suspect investors will probe the 1% increase in costs in-light of the competitive environment + necessary AI investments etc." (elena.vardon@wsj.com)
0612 GMT - Genting Singapore is expected to deliver a stronger performance this year, Hong Leong IB analyst Chee Kok Siang says in a note. The Singapore Tourism Board expects 2026 spending to rise to S$31 billion to S$32.5 billion, an on-year rise of 7%-8%. "This bodes well for casinos and integrated resort operators such as [Genting Singapore], given the positive spillover to gaming and non-gaming revenue streams," the analyst says, noting Genting Singapore's additions such as Minion Land at Universal Studios Singapore. Hong Leong IB maintains a buy rating on the stock and a target price of S$1.07. Shares are down 8.2% at S$0.73.(amanda.lee@wsj.com)
0553 GMT - Raffles Medical's strong net cash position leaves room for potential mergers and acquisitions, says its bull at CGS International. The Singapore hospital operator's net cash, excluding lease liabilities, was S$261.1 million in 2025, says analyst Tay Wee Kuang in a note. This cash also supports the sustainability of its final and total dividend per share of 3.0 Singapore cents, which offers a dividend yield of around 2.8%, above that of regional peers, he says. The analyst trims his earnings-per-share estimates for 2026-2027 by 0.6%-1.2%, citing a projected decline in finance income. CGSI trims its target price for the stock to S$1.20 from S$1.23 and retains its add rating. Shares drop 1.9% to S$1.05. (megan.cheah@wsj.com)
0545 GMT - Ayala Land's leasing businesses seem to have a brighter outlook, Maybank Securities' Raffy Mendoza says in a research report. The brokerage raises its 2026 core net profit estimate for Ayala Land by 1% to reflect management's guidance that positions the company's leasing businesses as the main driver of growth this year. The real estate company is poised to open over 200,000 square meters of new mall gross leasable area, complete flagship mall renovations, add about 70,000 square meters of office GLA within its estates and monetize its hospitality upgrades this year. The brokerage raises the stock's target price to PHP38.00 from PHP37.00 with an unchanged buy rating. Shares are 0.7% higher at PHP20.70. (ronnie.harui@wsj.com)
0508 GMT - APAC Realty's earnings have likely peaked, RHB Research's Vijay Natarajan says in a report. Primary transaction volumes--the Singapore-listed company's key earnings driver--are expected to fall 10%-15% in 2026 due to slightly fewer new project launches, the analyst says. However, the earnings shortfall for the real-estate services provider could be partially offset by a rise in the number of new industrial projects launched. RHB Research increases its annual earnings forecast for APAC Realty by 2% to reflect adjusted transaction volumes. It maintains a neutral rating on the stock and raises the target price to S$0.70 from S$0.67. Shares are 3.1% lower at S$0.63. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 25, 2026 01:32 ET (06:32 GMT)
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