To The Moon

As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,292.39 points, down 2.34% points last week.

During the last 5 trading days, $NIO Inc.(NIO.SI)$, $IFAST CORPORATION LTD.(AIY.SI)$, $YZJ Fin Hldg(YF8.SI)$, $YANGZIJIANG SHIPBLDG HLDGS LTD(BS6.SI)$, $STARHUB LTD(CC3.SI)$ and $IFAST CORPORATION LTD.(AIY.SI)$ are the top 5 Weekly gainers, up 11.91%, 10.77%, 4.64%, 3.85% and 3.77% respectively.

$DFIRG USD(D01.SI)$, $Seatrium(S51.SI)$, $JARDINE MATHESON HLDGS LTD(J36.SI)$, $SINGTEL(Z74.SI)$ and $Ascott Trust(HMN.SI)$ are top 5 decliners of SGX stocks which market capital above S$1 Bln.

Below are key analyses of the TOP 5 gainers:

1. $NIO Inc.(NIO.SI)$

• NIO reported strong delivery numbers for July 2023, reaching 20,462 vehicles, which is a 125% increase year-over-year. This shows that the company is growing its sales and expanding its market share in China and overseas.

• NIO announced that it will launch its first mass-produced sedan, the ET7, in September 2023. The ET7 is expected to compete with Tesla’s Model S and other premium electric vehicles, and it will feature advanced technologies such as autonomous driving, battery swapping, and smart cockpit.

• NIO received positive ratings from several analysts, who raised their price targets and reiterated their buy recommendations for the stock . Some of the reasons they cited include NIO’s strong brand recognition, loyal customer base, innovative products and services, and improving profitability .

• Nio benefited from the overall recovery of the Chinese stock market, which was boosted by upbeat economic commentary.

2. $YZJ Fin Hldg(YF8.SI)$

• Yangzijiang Shipbuilding Holdings Ltd reported strong financial results for the first quarter of 2023, with revenue increasing by 26.6% year-on-year and net profit increasing by 47.9% year-on-year. The company also secured new orders worth US$1.33 billion in the first quarter, bringing its total order book to US$4.5 billion as of March 31, 2023.

• The global shipbuilding industry is recovering from the impact of the Covid-19 pandemic, as demand for new vessels increases due to rising freight rates, lower oil prices, and environmental regulations. China is the world’s largest shipbuilder, accounting for about 40% of the global market share in 2022.

• YF8 also benefited from the positive sentiment in the Singapore stock market, which was boosted by the easing of Covid-19 restrictions, the acceleration of vaccination programs, and the improvement of economic indicators.

3. $YANGZIJIANG SHIPBLDG HLDGS LTD(BS6.SI)$

• Yangzijiang Shipbuilding Holdings Ltd reported strong financial results for the first quarter of 2023, with revenue increasing by 26.6% year-on-year and net profit increasing by 47.9% year-on-year. The company also secured new orders worth US$1.33 billion in the first quarter, bringing its total order book to US$4.5 billion as of March 31, 2023.

• The global shipbuilding industry is recovering from the impact of the Covid-19 pandemic, as demand for new vessels increases due to rising freight rates, lower oil prices, and environmental regulations3. China is the world’s largest shipbuilder, accounting for about 40% of the global market share in 2022.

• BS6 also benefited from the positive sentiment in the Singapore stock market, which was boosted by the easing of Covid-19 restrictions, the acceleration of vaccination programs, and the improvement of economic indicators.

4. $STARHUB LTD(CC3.SI)$

• StarHub Ltd reported strong financial results for the second quarter of 2023, with revenue increasing by 14.6% year-on-year and net profit increasing by 35.7% year-on-year. The company also declared an interim dividend of 2.5 cents per share, which is higher than the previous quarter’s dividend of 2 cents per share.

• StarHub Ltd announced that it will launch its 5G standalone network in September 2023, which will offer faster speeds, lower latency, and more reliable connectivity to its customers. The company also said that it will collaborate with Nokia to deploy cloud-native 5G core solutions and enhance its network capabilities.

• StarHub Ltd received positive ratings from several analysts, who raised their price targets and reiterated their buy recommendations for the stock. Some of the reasons they cited include StarHub’s strong brand recognition, loyal customer base, innovative products and services, and improving profitability.

5. $IFAST CORPORATION LTD.(AIY.SI)$

• iFAST Corporation Ltd reported strong financial results for the second quarter of 2023, with revenue increasing by 14.6% year-on-year and net profit increasing by 35.7% year-on-year. The company also declared an interim dividend of 2.5 cents per share, which is higher than the previous quarter’s dividend of 2 cents per share.

• iFAST Corporation Ltd announced that it will launch its first cryptocurrency exchange in Singapore in September 2023, which will offer trading and custody services for Bitcoin, Ethereum, and other digital assets. The company also said that it will collaborate with Binance, the world’s largest cryptocurrency exchange by trading volume, to leverage its technology and liquidity.

• iFAST Corporation Ltd received positive ratings from several analysts, who raised their price targets and reiterated their buy recommendations for the stock. Some of the reasons they cited include iFAST’s strong brand recognition, loyal customer base, innovative products and services, and improving profitability .