𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *10/12/25*

.

Gentle reminder: I will be on leave starting tomorrow till Xmas. I hereby wish everyone Merry Xmas in advance.🙂

.

STI: 4513 (+6) | HSI: 25434 (-331) | Dow: 47460 (-178) | S&P:6840 (-6) | Nasdaq: 23576 (+30)

.

*The calm before the cut*

After a bright start, Wall Street drifted lower last night as everyone basically parked themselves on the sidelines waiting for the Fed. The S&P slipped a touch while the central bank kicked off its meeting, with traders betting nearly 90% on a rate cut. The twist is that officials have been hinting they are not exactly thrilled about delivering a third cut since September without fresh data, thanks to the record shutdown. Hence the new buzz phrase, the hawkish cut, a rate trim with a raised eyebrow.

Tuesday’s data did not change much. Private payrolls nudged higher and job openings barely moved, which gives the Fed cover to keep expectations for 2025 cuts on a short leash. The bigger jobs picture arrives December 16, since October’s unemployment rate has effectively vanished into the shutdown void.

Overall, it was a classic pre Fed session. Low conviction, mild dips and everyone waiting to see just how dovish, or not so dovish, this cut will look when the curtain finally lifts.

.

*Stock watch today!*

Astonishing! Simply astonishing! While the whole SG market is meh with biases to the downside, *MarcoPolo Marine*, just kept going on, refreshing its 8-year high to $0.15_. Already exceeded expectations. Also in the shipping/marine sector, *Samudera Shipping* kept testing the resistance of $0.990. While it has not convincingly broken out, the constant “poking” at that resistance may suggest buy strength. That said, do note that both stocks are quite high already. Just highlighting here to keep everyone updated with the movers.

.

Sit up, everyone! The *first quarterly review for the iEdge SG Next 50 index* is out. Congrats to *Golden Agri, YZJ Maritime, Centurion Accommodation REIT* for inclusion with effect from 22 Dec. Probably not so good news from *Nanofilm, Samudera, Aztech Global* as they are excluded with effect from the same date.

That said, I don’t expect too much impact at this juncture though. After all, it is a newly minted index and I am not sure how many funds, if any, are tracking the index as of now. We shall see.

https://links.sgx.com/1.0.0/corporate-announcements/0YWGF1M3NC16X7U9/869341_20251209%20iEdge%20Singapore%20Next%2050%20Indices%20Quarterly%20Review.pdf

— *Lippo Malls Indonesia Retail Trust* proposes rights issue of 9,005,267,676 new units to raise $63 million

.

===

*Happening Today*

SG XD:

— Medinex: SGD 0.0084

CN:

⭐ — CPI / PPI

EU:

— ECB President Lagarde Speaks

US:

⭐ —- FOMC rate decision & press conference / Crude Oil Inventory

.

===

*US Stock News*

— President Donald Trump stated, via a Truth Social post, that he will allow *Nvidia* to sell its H200 AI chips to approved customers in China and other countries, albeit with a 25% tariff and with restrictions to ensure U.S. national security.

— *Warner Bros Discovery* has another suitor, as just days after streaming titan *Netflix* was named the winner of a bidding war for the studio, *Paramount Skydance* said it had launched a hostile bid worth $108.4 billion.

— Energy stocks,were in the ascendency, led by *Exxon Mobil Corp* after the latter upgraded its earnings and cash flow outlook for the period spanning between 2024 and 2030.

— *AutoZone* slumped 7% after reporting quarterly results that missed analyst estimates.

— *Toll Brothers* came under pressure following a 3Q earnings miss.

*After-hours movers:*

— *GE Vernova* rose after lifting guidance, doubling its dividend and raising its stock buyback program. It now anticipates $52B of revenue and 20% adjusted EBITDA margin by 2028.

— *AeroVironment* fell after its quarter EPS missed estimates. AeroVironment reported Q2 EPS of $0.44, $0.35 worse than the analyst estimate of $0.79.

— *GameStop* fell after disappointing results. GameStop reported Q3 EPS of $0.13, $0.05 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $821 million versus the consensus estimate of $893.64 million

.

===

*SG Stock news*

— *Duty Free International* announced that its subsidiary and Chin Hin Property agreed to extend the deadline to satisfy conditions for their Johor Bahru joint development agreement by six months to 9 June 2026, with all other terms unchanged.

— *Acrophyte Hospitality Trust* is selling its 127 room Hyatt Place Detroit Livonia hotel to NJA Management Group for US$10 million in cash, a price set about 3% below its independent valuation.

— *Federal International (2000) Ltd* entered into a binding term sheet to sell its 30% stake in PT Gunanusa Utama Fabricators and settle US$13.26M owed by PTG, after which it will no longer be a shareholder.

— *CFM Holdings* announced the completion of its sale of the LINK@AMK property in Singapore on 8 December 2025.

— *SDAI* Signs MoU with Hubei Qiai to Expand into the Mugwort Business

.

Sources:

www.sgx.com

www.investing.com

www.theedgesingapore.com

.

Start your investment journey here:

https://tinyurl.com/gotopoems

.

Cheers!

Dan

Disclaimer: https://tinyurl.com/dan-disclaimer

.

#dailyupdate #tradeSGX #poems #danccs

𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *9/12/25*

.

Heads-up: I will be on leave from 11-23 Dec (starting this Thursday), and will not return until 24 Dec. I hereby wish everyone Merry Xmas in advance.🙂

.

STI: 4507 (-25) | HSI: 25796 (-319) | Dow: 47739 (-215) | S&P:6846 (-23) | Nasdaq: 23545 (-32)

.

*Fed Ahead, Markets in Bed*

The market tiptoed into the week, with the S&P 500 slipping as everyone waited for the Fed to make its next move. After two straight winning weeks, traders were not in the mood to push their luck, especially with a rate cut almost baked in. Softer core PCE, cooling jobs data, and consumers acting a bit fragile have basically handed the Fed a note that reads please support us.

There was not much fresh data Monday, so the focus stayed on what the Fed will actually signal. Futures are pricing close to a 90% chance of a cut, but the real intrigue sits in the Fed’s tone and the updated forecasts for 2026. As ING put it, even a hint of a second cut down the line would be as dovish as it gets, but the Fed is unlikely to go that far.

Beyond the macro suspense, corporate earnings are lining up to keep things lively, with Lululemon, Costco, Broadcom, Oracle, and Adobe all stepping onto the stage. And on the M&A front, the Netflix-Warner Bros saga added another twist as Paramount Skydance jumped in with its own bid for the latter.

.

*Stock watch today!*

Moving into the holiday season, SG market was understandably in a “lighter” mood, with investors not keen to gain too much exposure with the FOMC meeting this week. A 0.25% rate cut is already priced in the market. And if there is any unforeseen circumstance (冬瓜豆腐), market would be quick to react adversely. I guess that sort of explains the meh market activity yesterday. The only stock I keen to highlight is *Samudera Shipping*. I had mentioned last week briefly in my daily updates, and for some, I have also shared a trading idea on it, with a $0.990 target hit. Now the question is, will it embark on a breakout or would it hit the resistance and pull back?

For med-long term investors who still prefer blue chips, *ST Engg* and *Sembcorp* present good opportunities as they had dropped quite a lot recently. But near term pressure may still persist, at least on the chart. Med-long term, especially for those who are on an accumulation strategy, these two shouldn’t be a problem though.

.

===

*SGX Research Vault*

.

*Institutional Flows & Share Buybacks: Stake Additions by Q&M Dental, Frencken, Zhongmin Baihui Retail, and Accrelist directors*

https://www.sgx.com/research-education/market-updates/20251208-stake-additions-qm-dental-frencken-zhongmin-baihui

*REIT Watch - S-REITs set for best year since 2019 with 14.7% total returns in 2025 YTD*

https://www.sgx.com/research-education/market-updates/20251208-reit-watch-s-reits-set-best-year-2019-147-total-returns

.

===

*Happening Today*

SG XD:

— GP Industries: SGD 0.0175

US:

— ADP Employment Change Weekly / JOLTS Job Openings (Oct)

.

===

*US Stock News*

— *Microsoft* was in discussions about switching the design of its custom chips to *Broadcom* from *Marvell Technology*, according to information. This is just ahead of Broadcom earning release

— ⭐️ S&P Global said *Carvana , CRH PLC and Comfort Systems* will join the S&P 500 index on Dec. 22, a change that typically sparks repositioning among index-tracking funds.

— *IBM* announced Monday that it will acquire *Confluent* for $31 per share in cash, representing an enterprise value of $11 billion.

— *Paramount* launched a rival bid for *Warner Bros*. The move from Paramount comes on the heels of President Donald Trump wining that a Netflix-Warner Bros tie up "could be a problem," sparking concerns about regulatory approval headwinds. The president, however, weighed in further on the topic on Monday, saying he would have to see "what percentage of market [share]" Netflix or Paramount Skydance have to evaluate whether a merger would pose antitrust issues.

*After-hours movers:*

— *NVIDIA* rose 2.3% after Trump announced in a tweet that he approved shipments of H200 chips to cleared customers in China. *AMD*, also mentioned in the tweet, rose 2%.
— *Toll Brothers* fell 4% after it published mixed quarterly results and guidance. Home sales revenues were $3.41 billion compared to $3.26 billion in FY 2024’s fourth quarter.

.

===

*SG Stock news*

— *Addvalue* secures US$4.8 mil worth of new orders for its ADR-related business

— *MetaOptics* will unveil five new proprietary metalens-powered consumer electronics at CES 2026 from January 6-9, 2026, in Las Vegas, Nevada.

— *SingPost* will raise domestic mail rates by ten cents from 1 January 2026 to help fund service upgrades and manage rising costs while continuing its push toward a more modern, tech driven postal and logistics network.

.

Sources:

www.sgx.com

www.investing.com

www.theedgesingapore.com

.

Start your investment journey here:

https://tinyurl.com/gotopoems

.

Cheers!

Dan

Disclaimer: https://tinyurl.com/dan-disclaimer

.

#dailyupdate #tradeSGX #poems #danccs

>> https://youtu.be/IAFl5qGRxB8

They’re listed in Hong Kong but you can buy them on SGX via SDR in SGD now.

No FX, no overseas broker. Watch here (SGX sponsored) 🤫😅

Every successful investor has one thing in common: A solid watchlist.

A good watchlist keeps you focused, cuts out market noise, and gets you ready to act the moment the right setup appears.

In this week’s post, we break down how to build a smart, organized watchlist and why tools like TradingView + 1GT can help you stay one step ahead.

👉 Read it here:
https://joeychoy.beehiiv.com/p/what-is-a-w...

$OCBC Bank(O39.SI)After breaking above the $19.00 level, OCBC continues to hold firm, with momentum staying intact. If buyers remain in control, the 𝐩𝐚𝐭𝐡 𝐭𝐨𝐰𝐚𝐫𝐝 $𝟐𝟎.𝟎𝟎 𝐜𝐨𝐮𝐥𝐝 𝐜𝐨𝐦𝐞 𝐢𝐧𝐭𝐨 𝐟𝐨𝐜𝐮𝐬. 📈

👉 Full analysis + structured warrants strategy here:
https://joeychoy.beehiiv.com/p/ocbc-at-new...

@sgsiasorg Calling all NetLink NBN Trust unitholders!

Join us for an exclusive briefing hosted by SIAS with NetLink’s management team. Gain key insights into FY25 highlights and discover what’s ahead for FY26. Don’t miss this opportunity to get your questions answered and stay informed.

Date: 9 July, Wednesday

Time: 12.00pm - 1.00pm SGT
Location: SIAS Training Room

Register now: https://bit.ly/3HK3V2r

#NetLinkNBNTrust #SIAS #InvestorBriefing

@sgsiasorg Calling all NetLink NBN Trust unitholders!

Join us for an exclusive briefing hosted by SIAS with NetLink’s management team. Gain key insights into FY25 highlights and discover what’s ahead for FY26. Don’t miss this opportunity to get your questions answered and stay informed.

Date: 9 July, Wednesday

Time: 12.00pm - 1.00pm SGT
Location: SIAS Training Room

Register now: https://bit.ly/3HK3V2r

#NetLinkNBNTrust #SIAS #InvestorBriefing

Struggling with investing? You’re not alone!

Many people find themselves stuck buying high, selling low, or not investing at all due to fear or past losses. If this sounds familiar, this session is for YOU.

Led by a seasoned expert with over 30 years of experience advising top institutional investors, this session offers practical tools to help you take control of your financial future.

Don’t miss out, your journey to financial independence starts here!

Sign up here: http://bit.ly/404jOHm

https://www.youtube.com/live/xAu1I4pqtFc?s...
$DBS(D05.SI) $UOB(U11.SI) $OCBC Bank(O39.SI) $Singtel(Z74.SI)

https://youtu.be/MkblB6au3G4
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI)

https://youtu.be/Xn-bb68vNWo
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI)

$Mapletree Ind Tr(ME8U.SI) 

• Current Price Action: The stock is trading at $2.04, successfully holding above the psychological $2.00 support level.


• Trendline Health: It is currently testing an ascending trendline (the black diagonal line in your chart). A sustained close below $2.02 would be a cautionary signal, potentially invalidating the recovery trend started in mid-2025.


• Resistance: Immediate overhead resistance is at $2.08, with a more significant barrier at $2.172.


• Fundamental Context: Investors are weighing a recent 5.6% drop in DPU against the growth potential of new Tokyo data center acquisitions.


• Direction: Sideway Consolidation until a breakout (either up or down).

he tide is finally turning for Singapore Real Estate Investment Trusts (S-REITs). After a challenging period, the combination of falling interest rates and resilient operational fundamentals has breathed new life into the sector. As we look toward 2026, the focus for investors is shifting from "surviving" to "thriving." You can read the article below, alternatively you listen to the radio interview with the link below on MoneyFM 89.3 Money and Me with Michelle Martin.

https://reitsavvy.com/insights/money-and-m...

‌

‌

‌

1. 2025 Performance Review: The Standout Performers

• In 2025, REITs with predominantly Singapore-based assets have led the charge. Performance has been particularly strong in the industrial and diversified commercial sub-sectors

Key Highlights:

·       Industrial Strength: Small and mid-cap industrial REITs like Alpha Integrated and ESR REIT have seen resilient DPU (Distribution Per Unit) growth.

$ESR REIT(9A4U.SI) $Sabana Reit(M1GU.SI) $AIMS APAC Reit(O5RU.SI) 

·       Retail Resilience: In the suburban retail space, Frasers Centrepoint Trust (FCT) has leveraged high occupancy and positive rental reversions in necessity-based malls. $Frasers Cpt Tr(J69U.SI) $Lendlease Reit(JYEU.SI) 

·       Prime Rebounds: CapitaLand Integrated Commercial Trust (CICT) and Mapletree Pan Asia Commercial Trust (MPACT) have rebounded strongly through active capital management of their prime assets.

$CapLand IntCom T(C38U.SI) $Mapletree PanAsia Com Tr(N2IU.SI) $Suntec Reit(T82U.SI) 

‌

‌

Source: REITsavvy.com Screener Nov 18-2025

‌

2. Strategic Investing in a Falling Rate Environment

While lower rates provide a tailwind, investors must be selective. A realistic time horizon for a full recovery is 3 to 5 years, as it takes time to refinance high-cost debt and for valuation caps to compress.

Two Winning Strategies:

1.     Focus on High-Quality Cash Flows: Target sectors like suburban retail, healthcare, and prime logistics.

2.     Identify Value: Look for REITs trading at attractive Price-to-NAV (Net Asset Value) discounts that have been oversold.

Pro-Tip: Avoid the "Yield Trap." Do not chase the highest headline yield without checking the balance sheet. Prioritize low gearing ratios and high interest coverage ratios (ICR), which provide the "dry powder" needed for future acquisitions.

‌

3. A Shift in Prime Ownership: The Private Fund Threat

A defining trend is emerging: prime assets are increasingly moving away from listed S-REITs toward private fund structures.

• The Problem: Many S-REITs with Singapore office exposure trade at significant discounts to book value (e.g., Suntec at 0.7x P/NAV and OUE REIT at 0.62x P/NAV).


• The Constraint: Listed REITs often struggle to make DPU-accretive deals because raising equity at discounted prices dilutes unitholders.


• The Private Advantage: Private funds, backed by patient institutional capital, can bid more aggressively for "trophy assets" without the pressure of short-term public market volatility.

This suggests listed S-REITs may increasingly focus on smaller assets or projects requiring intensive redevelopment.

‌

4. What’s on the Radar for 2026?

As we move into 2026, the market will differentiate between managers who can deliver and those who cannot. No longer can managers hide behind the excuse of high interest costs.

• Healthcare REITs: $ParkwayLife Reit(C2PU.SI)is a top pick due to its defensive nature and rental escalation formula tied to inflation. $First Reit(AW9U.SI)is also under watch regarding its strategic review and potential offloading of Indonesian assets.


• New Economy Industrial: Demand for data centers, high-spec logistics, and business parks is expected to outpace supply as the economy digitizes. These sectors represent a unique intersection of property and technology growth.

Final Remark

2026 will be the year to separate the winners from the losers. With interest rates on a downward trajectory, the stage is set for REITs to grow DPUs through acquisitions and portfolio restructuring.

‌

Kenny Loh is a distinguished MAS Private Wealth Advisor with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.

‌

👉 Open a Tiger Broker account to me to receive1 hour complimentary Investment Advice or Portfolio Review, DM kennyloh@fapl.sg on the process.

Based on the chart as of December 17, 2025, $ParkwayLife Reit(C2PU.SI) is exhibiting a bearish-to-neutral short-term trend within a long-term ascending channel.

‌

Key Observations:

• Moving Averages: The price ($4.01) is currently trading below its 50-day (blue) and 20-day (red) MAs, which are sloping downward. A "Death Cross" (short-term MA crossing below long-term MA) recently occurred near $4.10, acting as dynamic resistance (blue arrow).


• Support & Resistance: The REIT is testing a critical psychological support level at $4.00. Below this, the primary structural support sits at $3.716.


• Long-term Trend: The stock remains within a multi-year uptrend channel (black diagonal line). Historical "buy zones" (orange circles) suggest that touches of this lower trendline often precede rebounds.

Conclusion: The outlook is cautious. Until the price breaks back above the $4.07–$4.10 resistance zone, further consolidation toward the trendline support near $3.80 is likely.

I initiated a position in 𝗖𝗮𝗽𝗶𝘁𝗮𝗹𝗮𝗻𝗱 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 (𝗦𝗚𝗫: 𝟵𝗖𝗜) today, buying at $2.67 and $2.68 shortly after market open.

𝗪𝗵𝘆 𝗜 𝗯𝗼𝘂𝗴𝗵𝘁:
The stock triggered a buy signal from my General X trend-following indicator. Price has broken above the downtrend that has been in place since 29 July 2025, supported by improving volume, a constructive early trend-reversal signal.

Market conditions are also supportive into year-end, with the Straits Times Index hitting a new all-time high of 4,613, providing a positive backdrop for trend-following trades.

On the income side, CLI’s dividend yield has been steady at around 4.5% over the past three years, offering yield support while waiting for capital appreciation.

𝗪𝗵𝘆 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 𝘀𝗵𝗼𝘂𝗹𝗱 𝗹𝗼𝗼𝗸 𝗮𝘁 𝗖𝗟𝗜 𝗻𝗼𝘄:
Beyond the technical setup, fundamentals are quietly strengthening. CLI is Singapore’s largest commercial manager, overseeing >130 properties and ~S$40bn of assets, which supports stable, recurring, asset-light fee income. Execution on the ground remains strong, with improving retail footfall and tenant sales through experiential concepts and data-driven leasing, now exceeding pre-Covid levels. At the same time, regional expansion via third-party advisory mandates in Malaysia adds growth optionality without heavy balance-sheet risk. CLI is increasingly a real asset manager, not just a property owner.

As always, this is for sharing only, not a recommendation.

On Baidu ( 9888.HK), my General X trend-following momentum indicator has turned positive, and the price is trading above the key EMAs — a buy signal is triggered.
‌
BUY: Baidu HK SDR 10to1 (SGX: HBUD)
‌
Indicative Baidu HK SDR price in SGD:
HKD 123.80 (underlying) ÷ 10 (ratio) ÷ 6.0186 (SGD/HKD) = SGD 2.06
‌
🔹SDRs let you trade overseas blue-chip stocks on SGX in SGD, with lower costs, no FX risk, dividends in SGD, free CDP deposit, and contra trading available.

On Xiaomi (1810.HK), my General X trend-following momentum indicator has turned positive, and the price is trading above the key EMAs — a buy signal is triggered.

BUY: Xiaomi HK SDR 2-to-1 (SGX: HXXD)

Indicative Xiaomi HK SDR price in SGD:
HKD 42.78 (underlying) ÷ 2 (ratio) ÷ 6.0081 (SGD/HKD) = SGD 3.56

🔹SDRs let you trade overseas blue-chip stocks on SGX in SGD, with lower costs, no FX risk, dividends in SGD, free CDP deposit, and contra trading available.