The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0258 GMT - OUE REIT's active capital reallocation appears to be underway, OCBC Group Research's Ada Lim says in a research report. The REIT completed the acquisition of a 19.9% interest in the 180 George Street property in Australia, which offers quality exposure to Sydney's prime district, the analyst says. Management also seems keen to exercise the REIT's right of first refusal to further boost its stake in the property should the opportunity arise. OCBC Global Research increases its 2026 and 2027 distribution-per-unit forecasts for the REIT by 0.4% and 0.7%, respectively. It raises the unit's fair value estimate to S$0.41 from S$0.40 with an unchanged buy rating. The units are unchanged at S$0.365. (ronnie.harui@wsj.com)
0255 GMT - Valuations for Indian companies, while materially corrected from their peaks, are likely to remain elevated until earnings downgrades feed through, HSBC analysts led by Herald van der Linde say in a note. The bank downgrades Indian equities to underweight from neutral and expects consensus earnings forecasts for 2026, currently at 16%, to be lowered. "Given India's reliance on imported energy and the potential knock-on effects on inflation and domestic demand, we are concerned about the durability of the ongoing earnings recovery," the analysts write. India's benchmark Sensex closed 1.0% lower at 78516.49 on Wednesday. (venkat.pr@wsj.com)
0232 GMT - The Singapore dollar consolidates against its U.S. counterpart in the Asian session, but may be weighed by lingering geopolitical risks. Tensions in the Middle East remain elevated, say analysts of CIMB's Treasury and Markets Research in a research report. The analysts note Iranian gunboats fired on commercial vessels in the Strait of Hormuz while U.S. forces intercepted two Iranian tankers. Investors also await clearer signals on a lasting resolution to the U.S.-Iran conflict, the analyst add. The U.S. dollar is little changed at 1.2761 Singapore dollars, FactSet data show. (ronnie.harui@wsj.com)
0220 GMT - De-crowding of foreign investor positions in recent months in South Korean equities is expected to pave the way for support from local demand and a strong earnings outlook, HSBC's head of equity strategy for Asia Pacific, Herald van der Linde, says in a note. The bank, previously underweight South Korea on concerns over the Middle East and foreign outflows, has now upgraded the market to neutral. The earnings outlook remains compelling, with the bulk of growth expected from Samsung Electronics and SK Hynix, the analyst says. The Kospi is up 1.3% at 6499.23. (venkat.pr@wsj.com)
0218 GMT - Sino Land appears to be accelerating its land bank replenishment, which should support the property company's earnings growth, DBS Group Research analysts say in a commentary. The developer has added three residential sites since August that will likely deliver more than 2,500 residential units collectively upon completion, they write. Sino Land's strong net cash holdings and robust property sales should be able to fund further land acquisitions, the analysts add. The stock is trading at around a 38% discount to DBS's estimated net asset value. DBS retains its buy rating and HK$14.20 target price on Sino Land. Shares rise 1.6% to HK$12.36. (megan.cheah@wsj.com)
0205 GMT - PTT Global Chemical's earnings are poised to turn profitable, UOB Kay Hian analysts say in a report. The Thai company is likely to post net profit of 2.45 billion baht in 1Q 2026 versus net loss of 2.67 billion baht in 1Q 2025, the analysts estimate. The turnaround is driven by recovery across all of the petrochemical company's core businesses, supported by stronger market gross refinery margin and petrochemical spreads. The brokerage lifts its 2026 net-profit estimate for PTT Global Chemical to 9.2 billion baht from 1.73 billion baht previously. It raises the stock's target price to 41.00 baht from 31.00 baht, with an unchanged buy rating. Shares last closed at 35.75 baht. (ronnie.harui@wsj.com)
0205 GMT - Thailand's tourism sector is seeing the effects from the war in the Middle East, BofA Securities economists say in a note. There were 2.77 million tourists who visited Thailand in March, down 15% from the previous month. Early indicators for April show that tourism momentum is pointing to even more deterioration, especially after the Songkran festival ended in the middle of the month. The latest weekly data after the Songkran festival showed only 464,720 tourist arrivals. "This is the third-lowest week since 2024 and occurred much earlier than the usual low season, which is typically seen in late May," the economists say. (amanda.lee@wsj.com)
0202 GMT - The surge in Macquarie's share price over the last month has cost the Australian financial group its buy rating at UBS. Lowering their recommendation to neutral, analysts John Storey and Nicholas Sobolev tell clients in a note that the stock is trading at about 17.3 times earnings on a two-year forward basis. That is in line with long-term averages, they point out. They lift their EPS forecasts to reflect Macquarie's sale of its OnStream smart-meter portfolio and the AirFinance leasing service, and see further asset realization as a key catalyst. UBS keeps a A$235.00 target price on the stock, which is down 0.6% at A$230.59. (stuart.condie@wsj.com)
0158 GMT - Zijin Mining Group's Hong Kong- and Shanghai-listed share valuations remain attractive after a recent pullback, say HSBC Global Investment Research analysts in a note. The Chinese miner's 1Q results affirmed its strong fundamentals, the analysts say, citing the company's robust operational delivery and visible multiyear production growth. Its well-diversified portfolio across copper, gold and lithium should also benefit from favorable supply-demand dynamics, they say. HSBC maintains its buy rating on Zijin Mining's H and A shares and retains target prices of HK$58.00 and 50.00 yuan, respectively. H shares fall 1.85% to HK$37.14, while A shares drop 2.8% to 34.52 yuan. (megan.cheah@wsj.com)
0135 GMT - Top Glove's fiscal 3Q margins are expected to remain stable sequentially as higher nitrile glove prices offset rising input costs, Hong Leong IB analyst Chee Kok Siang says in a note. Profits are likely to improve on stronger revenue, he says, noting that average selling prices began recovering in late March, with further price hikes planned. Sales volumes had dipped as buyers paused purchases, but these have started to normalize since April, he says. Tight nitrile butadiene rubber supply and stricter supplier terms are expected to drive industry consolidation, favoring larger players, he adds. Hong Leong raises the stock's target price to 0.75 ringgit from 0.54 ringgit, and keeps a hold rating. Shares are 0.7% higher at 0.72 ringgit. (yingxian.wong@wsj.com)
0134 GMT - Cochlear won't get a good start to its next fiscal year but there is still some cause for optimism, Jarden analysts say. While the hearing implant maker has slashed its FY 2026 profit guidance on weak unit sales, the Jarden analysts tell clients in a note that the Australian company's services segment appears to be rebounding into fiscal 2027. Elsewhere, they acknowledge that competition is making acoustics revenue growth unpredictable, but still cite 11% March-quarter growth as a positive. Jarden cuts its target price on the stock 25% to A$169.00 and maintains a neutral rating. Shares are down 1.4% at A$98.19. (stuart.condie@wsj.com)
0104 GMT - Cochlear loses its buy rating at UBS, where analysts see limited scope for the hearing-implant maker to lift annual sales growth back to 10% any time soon. Cutting their recommendation to neutral, the investment bank's analysts tell clients that a drop in U.S. unit sales at a time when Cochlear is releasing a new implant into a vast underpenetrated adult market is a clear negative. They say that overburdened European health systems and reimbursement cuts in China add to the pressure on sales. The analysts warn that the challenges facing the Australian company are entrenched, with earnings visibility at a post-Covid low. UBS slashes its target price 64% to A$109.00. Shares are down 2.2% at A$97.40. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 22, 2026 22:58 ET (02:58 GMT)
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