19 August update on stocks Singapore and USA
US: stocks ended higher Thursday as an upbeat sales forecast from Cisco Systems helped to lift the technology sector, while data showed the economy remained relatively strong
Gold gains as dollar, yields retreat after Fed minutes
*Singapore*
SGX H2 profit up 13.2% to S$232.7m, appoints Koh Boon Hwee as new chairman
ST Eng: TransCore acquisition crimps ST Engineering’s earnings, but more new orders seen
Marco Polo Marine Q3 revenue up 140% on shipyard, ship chartering growth
Asian Pay TV: PhillipCapital upgrades APTT to 'buy' due to recent share price weakness
Tee International to issue new shares worth S$7.5 million, proposes debt
restructuring
Sasseur REIT: tp: $1.08
HRnetGroup: avg tp: $1.11
Grand Venture Technology: tp 85 cts
Food Empire: tp 95 cts ~ theedge
Healthcare plays will likely benefit from periods of high inflation with their ability to pass on higher costs to consumers due to inelastic demand, said DBS Group Research
Singapore: Dimmer prospects ahead for Singapore exports as July data reveals drag from China slowdown
Executive movement: Koh Boon Hwee to be SGX chairman from Jan 1
—-
*World*
Europe’s main stock markets mostly eased at the open following overnight losses in Tokyo and on Wall Street
*US*
Mizuho Securities Lowers Price Target on Pioneer Natural Resources Company to $316 From $334, Keeps Buy Rating
Piper Sandler Lowers Price Target on Analog Devices to $190 From $210, Keeps Overweight Rating
Morgan Stanley Adjusts Price Target on The AES Corp to $32 From $29.50, Keeps Overweight Rating
SEA: CGS-CIMB downgrades Sea to ‘hold’ on dimmer Shopee prospects
CGS-CIMB downgrades Sea to ‘hold’ on dimmer Shopee prospects
——-
*Asia / Apac Market*
Tencent shares ‘very undervalued’ as earnings poised for turnaround ~ morningstar
previous session: HK shares closed deep in negative territory on line with a sell-off across world markets after Federal Reserve minutes fanned concerns that interest rates will continue to rise and be held elevated until inflation is tamed; Korean shares extended losses for a second session on Thursday (Aug 18) tracking Wall Street’s overnight weakness, although sharp gains in heavyweight Samsung Electronics capped losses$Straits Times Index(STI.SI)$$SPDR Portfolio S&P 500 High Dividend ETF(SPYD)$$Nasdaq 100 ETF(QQQ)$
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