The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0244 GMT - Kingboard Laminates Holdings' earnings stand to benefit from higher average selling prices for laminates and upstream materials, UOB Kay Hian analysts say in a research report. These prices are expected to stay elevated in 2H owing to a supply shortage, UOB Kay Hian says. The brokerage estimates artificial-intelligence-related specialty yarn will contribute 3.3%, 10.6% and 12.8% of the electronics materials manufacturer's total revenue in 2026, 2027 and 2028, respectively. The brokerage lifts its revenue forecasts for Kingboard Laminates by 13% for 2026, 11% for 2027 and 14% for 2028. It raises its target price on the stock to 42.43 Hong Kong dollars from HK$25.30, with an unchanged buy rating. Shares are 7.3% higher at HK$42.68. (ronnie.harui@wsj.com)
0243 GMT - Singapore's electronics industry will still benefit from the global artificial intelligence infrastructure buildout despite electronics growth cooling to a 11-month low, Maybank economists write in a report. Electronics growth cooled to 11.2% on year in July, down from 21.1% in June, partly on a high base. "Despite cooling electronics output growth, we think it is unlikely that the AI boom is coming to an imminent end," Maybank says. Demand for Singapore's semiconductor equipment also remains robust amid a global expansion in chip fabrication capacity. Singapore accounts for a sizeable market share of about 20% of global semiconductor equipment production, Maybank notes.(amanda.lee@wsj.com)
0238 GMT - Apple's strong iPhone 17 lineup is expected to help it maintain momentum in key markets as consumers continue gravitating toward premium smartphones, according to Counterpoint Research. The research firm says the iPhone 17 was the world's best-selling smartphone in 2Q, capturing 6% of global sales, while the iPhone 17 Pro Max and iPhone 17 Pro ranked second and third, respectively. Apple's smartphone sales rose 5% on year despite an 11% decline in the overall market, supported by growth in India, Japan, the Middle East and Africa. Counterpoint says the global top 10 smartphone models accounted for 26% of worldwide sales, as brands focused on flagship and core devices amid memory shortages. (jie.yang@wsj.com)
0227 GMT - A strong pickup in Australian household spending in July will likely reinforce the Reserve Bank of Australia's hawkish bias, but the data flow is not yet strong enough prompt a further interest rate hike, says Abhijit Surya, economist at Capital Economics. Still, spending is on track for its biggest quarterly increase in four years, which will outstrip the recent forecasts of the RBA, he adds. (james.glynn@wsj.com; @JamesGlynnWSJ)
0223 GMT - Marco Polo Marine's earnings outlook seems upbeat, says RHB Research's Alfie Yeo in a note, noting a growing fleet and higher shipyard utilization supporting the Singapore offshore and marine company's growth prospects. The company's 3Q business update signaled that the company is on track to deliver revenue growth through higher shipyard revenue and newly deployed vessels, the analyst says. He expects higher shipyard capacity and four new vessels to support FY 2026 growth, while FY 2027 gains should be bolstered by revenue from the construction of a around 200 million Singapore dollar vessel order and a larger charter fleet. RHB maintains its buy rating and S$0.21 target price. Shares are flat at S$0.128.(megan.cheah@wsj.com)
0213 GMT - The Bank of Thailand is likely to hike its policy rate by 25 bps each in 4Q 2026 and 1Q 2027, ANZ Research's Kausani Basak and Sanjay Mathur says in a report. The BOT has room to maintain its accommodative stance, as headline inflation has continued to moderate in recent months. However, ANZ says that it will continue monitoring underlying price pressures closely, as producer price inflation remains high and could start spilling over to core inflation in the coming months. ANZ will review its view on BOT's rate path, if inflation pressures turn out to be benign. (amanda.lee@wsj.com)
0209 GMT - Chinese DRAM maker CXMT is expected to sustain rapid growth over the next several years, as strong artificial-intelligence-related demand keeps the global memory market tight, according to a Morgan Stanley report. The brokerage initiates coverage of CXMT with an overweight rating, forecasting revenue to grow at a 140% compound annual rate between 2025 and 2028, driven by capacity expansion, rising adoption of its memory chips and firm pricing. Morgan Stanley estimates CXMT's share of global DRAM bit shipments will rise to 15% by 2030 from 11% in 2026, while global DRAM supply is expected to remain constrained through 2027 despite industry expansion plans. The report says demand from China's AI infrastructure build-out should continue to support the company's growth. (jie.yang@wsj.com)
0208 GMT - Laopu Gold's shareholders are likely to focus on quarter-on-quarter improvement in the Chinese gold jeweler's sales in the near term, Citi analysts say in a note, citing investor queries after the company's results. While Laopu's management disclosed more concrete plans for its overseas expansion, the investors appear to have low expectations, the analysts say. The investors asked mainly about the jeweler's pricing strategy amid gold-price fluctuations and whether it has sufficient cash upon any inventory surge. The analysts reckon Laopu's longer-term competitiveness will continue to strengthen as it develops its very-important-clients segment and optimizes its stores. Citi retains a buy rating and a 507.00 Hong Kong dollars target price. Shares rise 2.8% to HK$416.80. (megan.cheah@wsj.com)
0203 GMT - Mineral Resources' FY 2026 result is a strong one, with earnings a small beat and its dividend reinstated at a much higher level than anticipated, Barrenjoey says. The miner declared a dividend of A$0.83, while Barrenjoey had forecast A$0.50 and consensus was at just A$0.07, the bank says. That "should be taken positively," says Barrenjoey. "FY27 guidance also broadly better than market expected across the board, with Wodgina a strong beat on volume and costs, and capex slightly better on a like-for-like basis," it says. The bank has an overweight rating and a A$73.00 target on Mineral Resources. Shares initially jumped as high as A$70.87 but have tumbled through the morning in Sydney to recently trade down 2.1% at A$65.51. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
0201 GMT - South32's FY 2027 guidance is more strongly geared to base metals than anticipated, says Jefferies. A production forecast at Cannington of 290,000 tons dwarfs Jefferies' 206,000-ton estimate, it says. South32's estimates for volumes at Sierra Gorda are also higher than expected. "We remain constructive on South32 as a diversified base-metals growth vehicle, with disciplined capital management and improving portfolio clarity," Jefferies says. The bank has a buy rating and A$6.00/share target on South32. Shares are up 0.2% at A$5.15. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
0201 GMT - Much of the unmet demand for data center capacity in Singapore is expected to shift to Malaysia's Johor state, reinforcing the view that infrastructure availability, rather than demand, will increasingly shape growth in the Singapore-Johor corridor, Fitch Ratings says in a note. Johor's proximity to Singapore, lower development costs and integration through the Johor-Singapore Special Economic Zone should allow it to benefit from Singapore's supply constraints, it says. However, Johor's ability to sustain growth will depend on infrastructure and resource availability. Tighter requirements on power efficiency, water use and renewable-energy adoption could slow capacity additions and raise development costs, but should improve the sector's long-term resilience, it adds. (yingxian.wong@wsj.com)
0128 GMT - IGO surprises with a final dividend of A$0.05/share, versus consensus of A$0.01/share. "This marks IGO's first dividend since FY24 as dividends had been suspended due to the downturn in the lithium cycle," Citi says. Otherwise, the miner reports a broadly in-line set of FY results, says the bank. "With CGP3 restarting production in early August and Nova expected to leave the portfolio following completion of the sale, investor focus increasingly shifts toward capital allocation discipline, Greenbushes optimization and the company's copper growth ambitions," Citi says. It has a neutral rating and A$7.10/share target on the stock. Shares are up 1.3% at A$8.30.
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