𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *23/3/26*

.

STI: 4948 (-18) | HSI: 25277 (-223) | Dow: 45577 (-444) | S&P: 6506 (-100) | Nasdaq: 21647 (-443)

.

*US Markets Overnight!*

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*Week ends weak, oil still speaks*

.

Risk-off Friday, plain and simple, with oil calling the shots.

US markets took another hit, Nasdaq Composite fell 2%, S&P 500 down 1.5%, Dow Jones Industrial Average off 1%, capping a fourth straight week of losses, while the Russell 2000 slipped into correction territory.

.

The real driver, oil. WTI crude flirting near $100 and Brent crude above $110 after escalating Middle East tensions, markets are less worried about today, more about “what if this drags on”. That uncertainty is the premium everyone’s paying.

Rates joined the party, 10Y yields spiking to 4.39%, tightening financial conditions just as equities are wobbling. Safe havens weren’t exactly safe either, gold and silver pulled back, dollar firmed, crypto cooled.

.

Tech, no surprise, led the slide, all the Magnificent Seven red again, with Tesla taking the biggest hit. Single-stock stories added spice, FedEx nudged higher on guidance, Nexstar Media Group rallied on deal approval, but the standout was Super Micro Computer, down a brutal 33% on chip smuggling charges tied to NVIDIA tech.

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In short, to close off the week, geopolitics lit the fuse, oil kept it burning, and markets are repricing the duration of risk, not just the shock.

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*What’s Brewing This week!*

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Next week has that classic “macro tension meets fragile markets” feel. We’re coming off four straight weeks of losses, and the key swing factor now is the Middle East, where tensions are not easing and are already feeding through into higher oil prices. That puts Friday’s consumer sentiment front and center, because it will tell us whether rising fuel costs are starting to dent confidence again. If sentiment rolls over while inflation pressures pick up, that is a tougher backdrop for equities to stabilize.

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On the data side, Wednesday’s *import price index* becomes more important than usual. Investors are already on edge after the recent uptick in producer prices, and any sign that tariffs plus energy costs are pushing prices higher could shift rate expectations again. Pair that with Thursday’s jobless claims and productivity data, and you get a pretty clean read on whether the economy is holding up or starting to show cracks beneath the surface.

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Earnings-wise, *GameStop* is still the headline grabber on Tuesday, with momentum driven more by positioning and the re-entry of Michael Burry than fundamentals. It is a sentiment trade, and in this kind of macro environment, those can swing fast. More fundamentally, Chewy and KB Home give better insight into the health of the consumer and housing, both key to the broader outlook.

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One area flying a bit under the radar is *China tech*, with Pony AI and WeRide reporting. Given how beaten down these names are, guidance could matter for sentiment around the autonomous driving theme.

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Outside of the US, next week’s looking like a busy one for those keeping an eye on inflation and industrial momentum. Kicking off Monday, *Singapore* rolls out its CPI and Core CPI for February: numbers that could hint at where the economy’s heating up or cooling off. Tuesday, all eyes shift to *Japan* with their National CPI readings; a slight nudge there could give the BoJ some food for thought. Midweek, we get Japan’s Monetary Policy Meeting minutes, always a good read if you’re tracking subtle shifts in central bank thinking. Back home on Thursday, Singapore serves up *February’s Industrial Production data*, which has been strong lately, so that one’s a highlight. Wrapping up the week, Friday brings *Chinese industrial profits* for February, a snapshot of how the factory floor is really faring. For traders and strategists, it’s a week to track inflation whispers and production signals closely.

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in short, markets are already on shaky footing, and with Middle East risks keeping oil elevated, macro is firmly back in control. If energy-driven inflation starts feeding into weaker sentiment, that is where things could get more interesting, and not in a good way. 😔

.

===

*Happening Today*

SG:

— Core CPI (YoY) (Feb) / CPI (YoY) (Feb)

US:

— Chicago Fed National Activity (Feb) / Construction Spending (MoM) (Jan)

.

===

*SG Stock news*

— *Aspial Lifestyle* has applied to the Singapore Exchange Securities Trading Limited to transfer its listing from Catalist to the Mainboard, subject to regulatory and shareholder approvals, with no certainty the move will proceed.

— *Rex International* announced that an independent review by Ernst & Young Advisory Pte. Ltd. has been completed in response to an Singapore Exchange Regulation Pte. Ltd. notice, with the company updating policies and implementing measures to address the findings and strengthen governance.

— *Medi Lifestyle* controlling shareholder Lingholm Holdings Pte. Ltd. has agreed to sell a further 37.6% stake to multiple investors, and together with an earlier deal, will fully exit its shareholding upon completion.

— *DISA Limited* is selling a 7.58% stake in its subsidiary Advance Digital Healthcare Pte. Ltd. to investor Meng Fanbing and issuing new shares to him for a total of S$2 million, resulting in DISA retaining 87.392% ownership and Meng holding 12.608%.

— *HGH Holdings* disposes of 20% stake in subsidiary Premium Concrete for $2.4 mil

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Earning calendar:

24 Apr: FCT^

.

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 𝐖𝐫𝐚𝐩 (𝐖𝐞𝐞𝐤 𝐞𝐧𝐝𝐞𝐝 𝟐𝟎/𝟑/𝟐𝟔)

𝐒𝐓𝐈’𝐬 𝐐𝐮𝐢𝐞𝐭 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡 𝐀𝐦𝐢𝐝 𝐭𝐡𝐞 𝐒𝐭𝐨𝐫𝐦

To be frank, I was pleasantly surprised. In a few recent media interviews, I had shared my view that the 𝐒𝐓𝐈  would likely hover around the 4800 level until there’s some clarity on the Iran conflict. But as of Friday 10.30am, it’s at 4,947, better than I had expected. That’s resilience right there, given the current market conditions. Not sure if 5000 is around the corner, but just hovering near that mark is already no small feat if you ask me. Almost like holding steady in choppy waters.

Two stocks I highlighted last week continued to build on their momentum.

𝐊𝐧𝐨𝐜𝐤 𝐊𝐧𝐨𝐜𝐤… 𝐖𝐢𝐥𝐥 𝐒𝐮𝐧𝐭𝐞𝐜 𝐔𝐧𝐥𝐨𝐜𝐤?

Following last week’s MAS green light for its acquisition by Acrophyte Asset Management, 𝐒𝐮𝐧𝐭𝐞𝐜 𝐑𝐄𝐈𝐓 stayed firmly in the spotlight this week after news of a strategic review. Its new sponsor, Tang Organization, is reportedly initiating a review aimed at enhancing portfolio performance and future distributions. The REIT touched a 3-year high of $1.50 yesterday, knocking on the door again. Watching closely to see if it has the legs for a clean breakout.

𝐏𝐚𝐥𝐦 𝐎𝐢𝐥 𝐏𝐨𝐰𝐞𝐫 𝐏𝐥𝐚𝐲, 𝐁𝐮𝐦𝐢𝐭𝐚𝐦𝐚 𝐋𝐞𝐚𝐝𝐬 𝐭𝐡𝐞 𝐖𝐚𝐲

As for 𝐁𝐮𝐦𝐢𝐭𝐚𝐦𝐚 𝐀𝐠𝐫𝐢, if last week’s high of $1.57 was already impressive, it went one step further this week, hitting a fresh all-time high of $1.71 and clearing the previous peak of $1.60. A breakout is now in sight. In a sector known for its swings, this one is showing rare resilience, quietly climbing while others are still finding their footing.

𝐎𝐮𝐭𝐚𝐠𝐞 𝐨𝐫 𝐍𝐨𝐭, 𝐑𝐚𝐥𝐥𝐲 𝐒𝐭𝐚𝐲𝐬 𝐇𝐨𝐭

Many may have heard of the 𝐒𝐢𝐧𝐠𝐭𝐞𝐥 service outage, but the stock didn’t seem fazed at all. It brushed the issue aside and went on to hit a more than 20-year high of $5.27, notching up a solid 6% gain for the week. If anything, the price action stayed well connected, even when the service wasn’t. More in a live radio interview on MoneyFM 89.3. Link below.

https://www.linkedin.com/posts/danccs_sgmarket-singtel-sti-activity-7439815348151029761-OZVd

𝐈𝐬 𝐒𝐞𝐦𝐛𝐜𝐨𝐫𝐩 𝐁𝐚𝐜𝐤 𝐨𝐧 𝐓𝐫𝐚𝐜𝐤?

Disappointing since its 1H25 results, but 𝐒𝐞𝐦𝐛𝐜𝐨𝐫𝐩 finally found some reprieve this week. Two days of strong price surge on high daily volume saw it break above the $6.09 resistance in the process. Not bad, if you ask me. Feels like it is finally catching its breath after a rough stretch, hopefully a sign of better days ahead.

𝐏𝐮𝐥𝐥𝐛𝐚𝐜𝐤 𝐭𝐨 𝐂𝐨𝐦𝐞𝐛𝐚𝐜𝐤 – 𝐌𝐚𝐫𝐜𝐨 𝐏𝐨𝐥𝐨’𝐬 𝐓𝐢𝐝𝐞 𝐓𝐮𝐫𝐧𝐬

𝐌𝐚𝐫𝐜𝐨 𝐏𝐨𝐥𝐨 𝐌𝐚𝐫𝐢𝐧𝐞 saw a pullback from near its 8-year high two weeks ago, coinciding with the Iran war jitters. This week, however, we’re seeing some green shoots emerge. It rebounded midweek from a low of $0.142 to close at $0.151 as of Friday 10.30am. The likely trigger, a 15-year emergency towage and salvage services charter contract with Taiwan’s Marine Port Bureau, giving it a bit of lift just when it needed a steady anchor.

Cheers!

Dan

See Disclaimer

#weeklywrap #tradeSGX #danccs

===

If you think Dan can value add to your investment journey, click here: tinyurl.com/gotopoems

Disclaimer: tinyurl.com/dan-disclaimer

𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *20/3/26*

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STI: 4967 (-34) | HSI: 25500 (-524) | Dow: 46022 (-203) | S&P: 6606 (-18) | Nasdaq: 22090 (-61)

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*US Markets Overnight!*

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*Oil Spikes, Then Thinks Twice, Stocks Breathe*

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Call it a “less bad than it looked” kind of session.

U.S. equities took a hit early, then clawed some dignity back into the close. The Dow Jones Industrial Average fell 0.4%, the S&P 500 slipped 0.3%, and the Nasdaq Composite dropped 0.3%. Not pretty, but could’ve been worse given the intraday wobble.

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The macro driver, no surprises, was *oil* (again) and the Fed doing their usual tag team. Jerome Powell kept rates on hold but flagged the obvious, higher oil can mess with inflation expectations. Markets heard “not done worrying yet.” Oil itself pulled a classic fake-out. Brent crude and WTI crude spiked hard earlier on Middle East headlines, then reversed sharply after geopolitical tone softened. That reversal helped equities recover late, think of it as the market exhaling after holding its breath too long.

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Rates were steady, with the 10-year sitting around 4.26%, not adding fuel to the fire. Meanwhile, gold and silver got smacked, down 5% and 6.5% respectively, suggesting some unwinding of safety trades. The USD eased, and Bitcoin drifted lower, nothing dramatic, just a bit of risk-off flavor.

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On the stock side, big tech wasn’t in the mood. The “Magnificent Seven” all finished red again, with *Tesla* leading the slide, down over 3%. Earnings reactions were where the real action was. *Micron Technology* fell ~4%, good numbers, upbeat outlook, still sold off. Classic “priced for perfection” reality check. *Alibaba Group* dropped 7%, no mercy post-earnings. *Accenture* gained 4%, steady execution still gets rewarded. *Five Below* popped nearly 11%, the kind of move that makes you double-check the ticker. *FedEx* added ~2% ahead of results, a bit of optimism creeping in.
.

Well, oil, inflation expectations, and central bank credibility still lead the way. Yesterday just reminded everyone that even a hint of energy-driven inflation is enough to rattle the room… until it isn’t.

.

*What’s Brewing Today!*

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One of the most disappointing big caps in recent months - *Sembcorp*. To be frank, I had been positive on Sembcorp on various occasions in the past, and each time, it failed me miserably. Yesterday, it was one of the few big caps that closed the day in green. On the chart, it once again shows positive signs. The real deal or another great pretender? I hope it is the former. 🤞

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*Suntec REIT* was also in the spotlight following news of a strategic review. New sponsor Tang Organization is said to be launching a review of REIT aimed at boosting portfolio performance and future distributions. It hit its 3-year high of $1.50 yesterday. Monitoring it closely to see if we can see a breakout.

.

===

*Happening Today*

SG XD/XB:

— Tai Sin Electric: SGD 0.0075

— UOB AP GRN REIT S$: CAPITAL DISTRIBUTION : SGD 0.014482

CN:

— China Loan Prime Rate 5Y (Mar) / PBoC Loan Prime Rate

SG:

— Unemployment Rate (Q4)

EU:

— Euro Summit

.

===

*SG Stock news*

—👍 *Beng Kuang Marine* has entered into an agreement to acquire the remaining 49% stake in Asian Sealand Offshore and Marine Pte. Ltd. for about S$60 million, funded through a mix of new shares, cash, and performance-based deferred payments, subject to shareholder approval as a major transaction.

—👍*AEM* Receives Intel EPIC Supplier Award

— *MetaOptics* progresses on its strategic growth and leadership transition initiatives

— *Choo Chiang* applies to move listing from Catalist to Mainboard

— *BBR Holdings* through its subsidiary, is acquiring 100 percent of iMax SG Ventures Pte. Ltd., which holds a student hostel at Nanyang Technological University, with plans to operate it via a joint venture property management structure.

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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

$UMS(558.SI)has been showing renewed strength after reclaiming the 1.40 level, with prices now consolidating just below the 1.60 resistance. 

All 20d, 100d, and 200d moving averages are pointing up, keeping the broader uptrend intact. 3 consecutive 1GT Bullish signals remain in play as buyers continue to defend higher lows. 

If the price can break and close firmly above 1.60, the next upside target sits near 1.80. Could a clean push through 1.60 spark the next leg higher toward 1.80?

A low P/E doesn’t always mean a bargain. And a high P/E doesn’t always mean expensive.

This week’s post breaks down how to actually use the P/E ratio, when it can mislead, and why combining valuation with technical matters before you buy.

👉 Read it here:
https://joeychoy.beehiiv.com/p/p-e-ratio-e...

🎥 𝐀𝐌𝐀𝐒 𝐒𝐆 𝐋𝐢𝐯𝐞 𝐑𝐞𝐩𝐥𝐚𝐲 𝐢𝐬 𝐍𝐨𝐰 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞! 🚀

We’ve just wrapped up another 𝐀𝐌𝐀𝐒 𝐒𝐆 𝐋𝐢𝐯𝐞, where the team broke down the latest movements in the 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 and analysed more than 𝟏𝟓 𝐒𝐆 𝐬𝐭𝐨𝐜𝐤𝐬 𝐫𝐞𝐪𝐮𝐞𝐬𝐭𝐞𝐝 𝐛𝐲 𝐲𝐨𝐮 using the 𝟏𝐆𝐓 (𝐏𝐫𝐨) 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫. 📊

Some of the stocks covered include Food Empire, Sembcorp, AEM and many more. 

We also shared 𝟑 𝐒𝐆 𝐬𝐭𝐨𝐜𝐤 𝐩𝐢𝐜𝐤𝐬 toward the end of the session that you won’t want to miss. 👀

📅 𝐌𝐢𝐬𝐬𝐞𝐝 𝐭𝐡𝐞 𝐥𝐢𝐯𝐞 𝐬𝐞𝐬𝐬𝐢𝐨𝐧? 𝐂𝐚𝐭𝐜𝐡 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐥𝐚𝐲 𝐡𝐞𝐫𝐞:
👉 https://www.youtube.com/watch?v=hwCsbVAQrRg

@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://youtu.be/8QoppDQMxyQ?si=kyqI3jkaaS...
$DBS(D05.SI) $UOB(U11.SI) $OCBC Bank(O39.SI) $SGX(S68.SI) $Singtel(Z74.SI)

https://www.youtube.com/live/ZvRMJ8Q4jzw?s...
$DBS(D05.SI) $SGX(S68.SI) $Singtel(Z74.SI)

$DBS(D05.SI) $Geo Energy Res(RE4.SI) $NIO Inc. USD OV(NIO.SI)
https://youtu.be/eDEi_66QytQ

📈 Technically, Singapore REITs sector (FTSE ST REIT Index) is bearish heading towards the the 2 years low of 622 support level.
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🔥 Total Market Cap = S$94.2B (⬇️ from S$101.1B)
🎯 Average Price/NAV = 0.78 (⬇️ from 0.86)
🎯 Average Distribution Yield = 5.94% (⬆️ from 5.41%)
🎯 Market Cap Weighted Avg Distribution Yield = 5.62% (⬆️ from 5.17%)
🎯 Average Gearing Ratio = 39.94% (⬇️ from 39.99% )
💹 Average Yield Spread (vs SG 10Y Gov Yield) = 3.84% (⬆️ from 3.42%)
‌
𝗕𝘂𝗹𝗹 / 𝗕𝗲𝗮𝗿 𝗖𝗮𝗹𝗹 𝗳𝗼𝗿 𝗦-𝗥𝗘𝗜𝗧 𝗦𝗲𝗰𝘁𝗼𝗿 (𝗜𝗻 𝗚𝗲𝗻𝗲𝗿𝗮𝗹):
🐮 Valuation (Sector is still mostly trading below NAV)
🐻 Technical Structure Improving (Short Term Trend Bearish)
🐮🐻 Interest Rate Environment Stabilising (SG 10Y @ ~2.12%; there is a risk of returning of inflation / rate hike due to high oil price cause the conflict in Middle East)
🐻 US 10Y Risk Free Rate ~4.4% (Still a headwind if yields re-accelerate)
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More detail can be found here:
https://reitsavvy.com/insights/singapore-r...
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#SingaporeREITs #MarketInsights #REITsavvy #REITInvesting
#PassiveIncome #FinancialFreedom #SmartInvesting
#DividendIncome #RetirementPlanning
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$FSTAS351020(FSTAS351020.IN)‌ ‌ $LION-PHILLIP S-REIT(CLR.SI)‌ ‌ $CSOP iEdge SREIT ETF US$(SRU.SI)‌ ‌ $CSOP iEdge SREIT ETF S$(SRT.SI)‌ ‌ $UOB AP GRN REIT S$(GRN.SI)‌ ‌ $UOB AP GRN REIT US$(GRE.SI)‌ ‌ $BHG Retail Reit(BMGU.SI)‌ ‌ $CapLand IntCom T(C38U.SI)‌ ‌ $CapLand China T(AU8U.SI)‌ ‌ $Fortune Reit HKD(F25U.SI)‌ ‌ $Frasers Cpt Tr(J69U.SI)‌ ‌ $Lippo Malls Tr(D5IU.SI)‌ ‌ $Mapletree PanAsia Com Tr(N2IU.SI)‌ ‌ $StarhillGbl Reit(P40U.SI)‌ ‌ $IREIT Global(UD1U.SI)‌ ‌$Keppel Reit(K71U.SI)‌ ‌ $ManulifeReit USD(BTOU.SI)‌ ‌ $OUEREIT(TS0U.SI)‌ ‌ $Suntec Reit(T82U.SI)‌ ‌ $AIMSAMP Cap Reit(O5RU.SI)‌ ‌ $CapitaLand Ascendas REIT(A17U.SI)‌ ‌ $EC World Reit(BWCU.SI)‌ ‌ $ESR-REIT(J91U.SI)‌ ‌ $Frasers L&C Tr(BUOU.SI)‌ ‌ $Frasers L&I Tr AUD(BWQU.SI)‌ ‌ $Keppel DC Reit(AJBU.SI)‌ ‌ $Mapletree Ind Tr(ME8U.SI)‌ ‌ $Mapletree Log Tr(M44U.SI)‌ ‌ $Sabana Reit(M1GU.SI)‌ ‌ $Far East HTrust(Q5T.SI)‌ ‌ $CDL HTrust(J85.SI)‌ ‌ $CapLand Ascott T(HMN.SI)‌ ‌ $Frasers HTrust(ACV.SI)‌ ‌ $First Reit(AW9U.SI)‌ ‌ $ParkwayLife Reit(C2PU.SI)‌ ‌ $Dasin Retail Tr(CEDU.SI)‌ ‌ $NikkoAM-STC Asia REIT(CFA.SI)‌ ‌ $Sasseur Reit(CRPU.SI)‌ ‌ $Nikko AM STI ETF(G3B.SI)‌ ‌ $STI ETF(ES3.SI)‌ ‌$CapLand India T(CY6U.SI)‌ ‌ ‌$Acro HTrust USD(XZL.SI)‌ ‌ $Keppel Reit(K71U.SI)‌ ‌ $Prime US ReitUSD(OXMU.SI)‌ ‌ $Lendlease Reit(JYEU.SI)‌ ‌ $NikkoAM-STC Asia REIT(CFA.SI)‌ ‌ $ELITE UK REIT(MXNU.SI)‌ ‌ $UtdHampshReitUSD(ODBU.SI)‌ ‌ $STONEWEG EUROPEAN REIT(CWBU.SI)‌ $Cromwell Reit SGD(CWCU.SI)‌ ‌ $CapitaLandInvest(9CI.SI)‌ ‌ $Daiwa Hse Log Tr(DHLU.SI)‌ ‌ $DigiCore Reit USD(DCRU.SI)‌ ‌ $PARAGON REIT(SK6U.SI) $Stoneweg EUTrust EUR(SET.SI) $Stoneweg EUTrust SGD(SEB.SI) $ESR REIT(9A4U.SI) $Cent Accom REIT(8C8U.SI) $NTT DC REIT USD(NTDU.SI)

Are investors focusing too much on headline DPU when evaluating Singapore REITs? Michelle Martin examines why the familiar distribution-per-unit number may not tell the full story.

In this episode of Money and Me, we explore whether investors should shift their focus from the quantity of distributions to the quality and sustainability behind them.
‌
REIT specialist and Wealth Advisory Director Kenny Loh introduces a new framework - the Management Efficiency Index (MEI) - meant to help investors evaluate how effectively REIT managers generate and protect long-term income.

The conversation also unpacks the risks behind 100% payout strategies, accounting optic moves, and the impact of management fees paid in units.
‌
With AGM season approaching, Kenny shares the key questions retail investors should ask management teams to better understand the resilience of distributions.

Any investor heading to a REIT AGM would benefit from knowing the right questions to ask to dive beyond the numbers to get at management "sweat equity".
‌
You can listen to the podcast over here. https://reitsavvy.com/insights/money-and-m...
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Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance 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.
👉 https://www.kennyloh.net/

$FSTAS351020(FSTAS351020.IN)‌ ‌ $LION-PHILLIP S-REIT(CLR.SI)‌ ‌ $CSOP iEdge SREIT ETF US$(SRU.SI)‌ ‌ $CSOP iEdge SREIT ETF S$(SRT.SI)‌ ‌ $UOB AP GRN REIT S$(GRN.SI)‌ ‌ $UOB AP GRN REIT US$(GRE.SI)‌ ‌ $BHG Retail Reit(BMGU.SI)‌ ‌ $CapLand IntCom T(C38U.SI)‌ ‌ $CapLand China T(AU8U.SI)‌ ‌ $Fortune Reit HKD(F25U.SI)‌ ‌ $Frasers Cpt Tr(J69U.SI)‌ ‌ $Lippo Malls Tr(D5IU.SI)‌ ‌ $Mapletree PanAsia Com Tr(N2IU.SI)‌ ‌ $StarhillGbl Reit(P40U.SI)‌ ‌ $IREIT Global(UD1U.SI)‌ ‌$Keppel Reit(K71U.SI)‌ ‌ $ManulifeReit USD(BTOU.SI)‌ ‌ $OUEREIT(TS0U.SI)‌ ‌ $Suntec Reit(T82U.SI)‌ ‌ $AIMSAMP Cap Reit(O5RU.SI)‌ ‌ $CapitaLand Ascendas REIT(A17U.SI)‌ ‌ $EC World Reit(BWCU.SI)‌ ‌ $ESR-REIT(J91U.SI)‌ ‌ $Frasers L&C Tr(BUOU.SI)‌ ‌ $Frasers L&I Tr AUD(BWQU.SI)‌ ‌ $Keppel DC Reit(AJBU.SI)‌ ‌ $Mapletree Ind Tr(ME8U.SI)‌ ‌ $Mapletree Log Tr(M44U.SI)‌ ‌ $Sabana Reit(M1GU.SI)‌ ‌ $Far East HTrust(Q5T.SI)‌ ‌ $CDL HTrust(J85.SI)‌ ‌ $CapLand Ascott T(HMN.SI)‌ ‌ $Frasers HTrust(ACV.SI)‌ ‌ $First Reit(AW9U.SI)‌ ‌ $ParkwayLife Reit(C2PU.SI)‌ ‌ $Dasin Retail Tr(CEDU.SI)‌ ‌ $NikkoAM-STC Asia REIT(CFA.SI)‌ ‌ $Sasseur Reit(CRPU.SI)‌ ‌ $Nikko AM STI ETF(G3B.SI)‌ ‌ $STI ETF(ES3.SI)‌ ‌$CapLand India T(CY6U.SI)‌ ‌ ‌$Acro HTrust USD(XZL.SI)‌ ‌ $Keppel Reit(K71U.SI)‌ ‌ $Prime US ReitUSD(OXMU.SI)‌ ‌ $Lendlease Reit(JYEU.SI)‌ ‌ $NikkoAM-STC Asia REIT(CFA.SI)‌ ‌ $ELITE UK REIT(MXNU.SI)‌ ‌ $UtdHampshReitUSD(ODBU.SI)‌ ‌ $STONEWEG EUROPEAN REIT(CWBU.SI)‌ $Cromwell Reit SGD(CWCU.SI)‌ ‌ $CapitaLandInvest(9CI.SI)‌ ‌ $Daiwa Hse Log Tr(DHLU.SI)‌ ‌ $DigiCore Reit USD(DCRU.SI)‌ ‌ $PARAGON REIT(SK6U.SI) $Stoneweg EUTrust EUR(SET.SI) $Stoneweg EUTrust SGD(SEB.SI) $ESR REIT(9A4U.SI) $Cent Accom REIT(8C8U.SI) $NTT DC REIT USD(NTDU.SI) $UIBREIT(UIBU.SI)

While $DBS(D05.SI) and $OCBC Bank(O39.SI) have been grabbing the headlines with record buybacks and "yield-chasing" rallies, United Overseas Bank (UOB) $UOB(U11.SI) is currently telling a very different story on the charts.

As we hit mid-March 2026, UOB is sitting at a critical technical and fundamental crossroads. Here is my deep dive into why this might be the most "interesting" play of the Big Three right now.

1. Technical Analysis: The Battle for the 200-Day MA

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Looking at the current chart, UOB is showing significantly more "friction" than its peers.

• The Descending Channel: Throughout the tail end of 2025, UOB traded within a clear descending channel (highlighted in blue on the chart). While we saw a bullish breakout in early 2026, that momentum has stalled.


• The "Line in the Sand": The price is currently testing the 200-day Moving Average (Green line) at $35.65. In technical terms, this is the frontier between a bull and bear market for the stock.


• Resistance Clusters: Both the 20-day (Red) and 50-day (Blue) MAs have crossed above the current price ($36.16), acting as a "ceiling" at the $37.00 level.


• Verdict: We need to see a decisive bounce off the $35.65 support. If it holds, we form a "double bottom" relative to the March 9th dip. If it breaks, the next major support isn't until the $33.50 zone.

2. Fundamental Analysis: Short-Term Pain, Long-Term ASEAN Gain

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UOB’s recent earnings moderation has put some downward pressure on the stock, but the underlying "Value" story is intact.

• Provisioning for Safety: UOB recently reported a moderated net profit of $4.7 billion. The "miss" was largely due to management being proactive—raising general allowances for their ASEAN portfolios (Thailand and Indonesia) to buffer against global macro volatility.


• The Citi Catalyst: The integration of Citigroup’s consumer business is finally paying off. Wealth management fee income hit a record $2.6 billion, showing that UOB is successfully pivoting toward high-margin recurring income.


• Valuation: At a Price-to-Book (P/B) of 1.23x, UOB is the "cheapest" of the three banks. For investors who believe in a mean-reversion, there is significant "valuation gap" to be closed compared to DBS.

3. Macro Outlook: Rates vs. Regional Growth

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As a regional specialist, UOB’s 2026 performance is tied to two moving parts:

1. The Fed Pivot: With interest rate cuts projected for 2H 2026, UOB’s Net Interest Margin (NIM) will likely stabilize around 1.75%. The bank is betting that increased loan volume in Southeast Asia will offset the lower rates.


2. Geopolitical Hedge: High oil prices ($100+/bbl) and Middle East tensions are driving capital into "Safe Haven" markets like Singapore. UOB’s strong capital position (CET1 ratio of 14.9%) makes it a resilient choice during global turbulence.

The Bottom Line

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UOB is currently a Contrarian Value Play. It doesn't have the "easy" momentum of OCBC right now, but it offers the best entry price for long-term investors.

• Support to Watch: $35.65 (200d MA).


• Target: A recovery toward the $39.50 previous high once regional provisions stabilize.


• Yield: Currently yielding a healthy ~5.4%, which provides a solid income floor while you wait for the capital appreciation.

Are you adding UOB at these levels to capture the valuation gap, or are you waiting for a clearer breakout above the 50-day MA? Let's hear your thoughts below!

Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance 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.

BYD is no longer just a China EV story. It is gradually transforming into a global player, supported by overseas expansion and technology leadership.

🔄 A Structural Shift Is Happening

Despite fierce competition in China, BYD is finding a way out. The company’s overseas sales have overtaken domestic sales for the first time in Feb 2026. This is not a one-off event but a sign that growth is shifting beyond China.

• Overseas sales: 100,151 units (+41.4% YoY)


• Total sales: 190,190 units


• Domestic demand remains weak due to subsidy cuts and seasonality

👉Overseas markets are starting to drive growth.

🌍 Overseas Expansion Is Gaining Momentum

BYD’s global expansion is already happening at scale. The company targets around 1.3 million overseas sales in 2026, up from about 1.04 million in 2025, with presence in more than 110 countries. Europe, Latin America and Southeast Asia are key growth regions.

🏭 Localisation Strategy Strengthens Its Edge

To support this, BYD is localising production in Hungary, Brazil and Turkey. This helps reduce tariffs, improve margins and strengthen its long-term position in global markets.

⚡ Technology Remains a Key Differentiator

BYD’s premium brand Denza will bring its flash charging technology to Europe together with the Z9 GT. With charging power up to 1,500kW, the system can deliver:

• 10–70% charge in ~5 minutes


• 10–97% in ~9 minutes

This significantly improves convenience and brings EV charging closer to traditional refueling.

📊 My Technical View

BYD peaked at HKD 159.30(adjusted for 6-for-1 split, SDR: S$5.22) in May 2025 and has been declining since.

Over the past four months, price consolidated between HKD 92.10 – 103 (SDR: S$1.51 – 1.69). Last week, it broke above the range and closed at HKD 103.8, signalling a potential reversal.

Importantly, the stock has been supported by the multi-year 200-week EMA, indicating strong long-term support.

My General X indicator has triggered a weekly buy signal.

👉Near-term target: HKD 124 (SDR equivalent: S$2.03)
→ Potential upside around 20%

If momentum continues, it could retest HKD 159.30 (SDR equivalent: S$5.22).

🌟My Trade Plan

I will initiate my entry near S$1.69 on next Monday for $BYD HK SDR 10to1(HYDD.SI) 

💡 Why I Trade BYD via SDR (SGX: HYDD)

• Trade in SGD, no FX hassle

• Lower capital required (10:1 structure)

• Brokerage relatively lower

• Easier access via SGX platform

For reference only. Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

📌If you find this analysis useful, I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).

👉 To join, simply message ‘Weekly Ideas - InvestSG’ on WhatsApp: https://wa.me/6590908871

Golden-Agri Resources (SGX: E5H) in Focus

Tensions in the Middle East have escalated over the past two weeks, pushing Brent crude above US$100 per barrel and lifting the broader energy complex. Higher energy prices are also supporting related commodities such as coal and crude palm oil, with CPO futures rising about 13% since the conflict began.

On SGX, plantation counters have reacted quickly. Wilmar International, First Resources, and Bumitama Agri have all surged alongside the commodity rally. As the sector gains momentum, investors may begin looking for the next laggard that could catch up with the move. One name worth watching is $Golden Agri-Res(E5H.SI).

Following stronger second-half results, Golden Agri reported a robust FY2025 performance. Full-year revenue reached a record high of nearly US$13 billion, representing a 19% year-on-year increase, while EBITDA grew 14% to US$1.26 billion, supported by improved second-half performance.

🔹 My Technical View:

Golden Agri has been consolidating between 0.27 and 0.30 for the past six months, while holding above its 200-day moving average, indicating underlying support. Last Friday the stock closed at 0.30, near the top of the range, suggesting a possible breakout.

My General X Momentum Trend-Following Indicator triggered a Buy signal on Friday, indicating momentum may be building.

Potential upside targets: 0.33 > 0.355 > 0.45 (if the commodity rally continues)

🔹 My Trade Plan:

I will initiate a buy if the price breaks above 0.30, confirming a breakout. If momentum continues, I plan to ride the uptrend together with my other commodity plays, including Wilmar International and Geo Energy Resources.

For reference only. Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

📌If you find this analysis useful, I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).

👉 To join, simply message ‘Weekly Ideas - InvestSG’ on WhatsApp: https://wa.me/6590908871

Today my article on $Seatrium Ltd(5E2.SI) was published in Lianhe Zaobao.
In the piece, I discussed the company’s long journey from the darkest years of the offshore & marine downturn to a possible path of recovery after years of restructuring and industry challenges.
With improving fundamentals and clearer technical signals, Seatrium may be worth starting to accumulate for investors who believe in the sector’s recovery.
Sharing the article here.

📌If you find this analysis useful, I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).
👉 To join, simply message ‘Weekly Ideas - InvestSG’ on WhatsApp: https://wa.me/6590908871