Jacky Pang

On Market View today:SG Reits - Frasers Logistics & Commercial Trust, Aims APAC Reit, Lendlease Reit, Paragon Reit earnings and clues on SG retail scene, Tokyo Disney Resort’s 320 billion yen expansion; Apple reportedly developing homegrown AI chips; Amazon Web Services to commit extra S$12 billion to exisitng SG cloud infrastructure Singapore stocks entered this morning slightly stronger following overnight gains on Wall Street and Europe brought about by optimism over potential rate cuts by central banks. In early trade, the Straits Times Index headed down 0.2 per cent to 3,309.13 points after 21 million securities changed hands in the broader market. In terms of companies to watch, we have Frasers Logistics & Commercial Trust. Its distribution per unit (DPU) for the first half of the fiscal year declined 1.1 per cent to S$0.0348. Meanwhile, from more on Tokyo Disney Resort’s S$2.8 billion expansion to Apple reportedly developing its homegrown chip to run AI tools in data centres, more corporate and international headlines remain in focus. Glad to unpack the developments with Carmen Lee, Head of OCBC Investment Research. Many thanks to Carmen and Yi Lin Goh for joining us on MONEY FM 89.3! Catch the podcast episode on Awedio, Apple podcast and Spotify at the links below. Podcast links: https://lnkd.in/g97nVWAC https://lnkd.in/gHFADySm https://lnkd.in/gp5trxHu #singapore #sgx #sti #stockmarket #us #inflation #tightening #cooling #federalreserve #fed #interestrates #ratecut #reits #sreits #earnings #fraserslogisticsncommercialtrust #aimsapacreit #lendleasereit #paragonreit #retail #disney #tokyo #expansion #amazonwebservices #billiondollar #cloudinfrastructure

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Sinohope Technology Holdings Limited (1611.HK) announced that its subsidiary, Sinohope Asset Management (Hong Kong) Limited (“Sinohope AM”), has received approval from the Hong Kong Securities and Futures Commission for its application for a Type 1 (dealing in securities) license and an uplift of its Type 4 (advising on securities) license. With the new Type 1 license, Sinohope AM will be able to distribute virtual asset (VA) related products to professional investors, including but not limited to VA funds and VA structured products. As a Type 4 license holder, Sinohope AM can now also provide VA advisory services under its uplifted license. We look forward to leveraging these new licenses to better serve professional investors with innovative VA offerings. Thanks the help from Jason Chan (Howse Williams) in securing the license approval in less than half a year, we were able to obtain these licenses in an efficient timeframe. SINOHOPE Asset 新火科技

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With some of my personal thoughts: Market analysts are guessing that the BoJ may have already conducted a large-scale yen-buying intervention during Monday's yen swing. Their suspicion stems from a 5.5 trillion yen discrepancy between the BoJ's forecast for commercial bank deposits and last week's estimate by money market brokers. If that's the case, the BoJ is likely buying time until the Fed pivots to rate cuts, narrowing the interest rate differential. However, the central bank might need several more interventions to prevent the currency from plumbing new three-decade lows. The fact is, such a massive intervention can only move the rate around 500 pips, and the USDJPY uptrend shows little resistance. It's an extremely costly endeavor. Coupled with the market's waning fear of intervention and the potential resurgence of carry trades after the previous profit-taking, defending the yen could be an uphill battle for the BoJ.

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abrdn Asian Income Fund Limited is an investment company that offers the prospect of both capital and income growth and could be considered a core offering for investors seeking diversification through #Asian equity exposure. Hear from Edison's Milosz Papst and Yoojeong Oh, CFA, one of the fund's managers, as they explore the potential opportunity in Asia. For more on emerging markets, read our latest report: https://lnkd.in/eaPgvTrc #EM #emergingmarkets #asia abrdn Investment Trusts

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*Morning Market Update*: Gift Nifty 24458(+75)+0.33%(PE 23.14) Dow Jones 39754(+32)+0.08% Nikkei 41445(-779)-1.84% Hang Seng 18202(+270)+2.07% Shanghai 2974(+3)+0.11% Brent Crude $85.72 Gold $2408 $/Rs 83.56 FII-1137cr DII+1676cr 10 Yr GSec 6.54-2034 YTM 6.98 *News & Views*: * US mkts closed mixed; tech selloff led nasdaq lower by 2% * Asian mkts trading mixed; await Chinese trade data * Nifty: Support 24200 Resistance 22500 * TCS Q1 results meet estimates:NP rises 9% YoY; rs10 dividend declared * Oil rises on cooling US inflation, strong summer demand ##oilprices #inflation #tcs #tradedata #stockmarkets #Nifty #sensex

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*Morning Market Update*: Gift Nifty 22826(-111)-0.49%(PE 21.74) Dow Jones 38853(-217)-0.55% Nikkei 38820(-36)-0.09% Hang Seng 18579(-242)-1.29% Shanghai 3110(+10)+0.31% Brent Crude $84.46 Gold $2358 $/Rs 83.18 FII+66cr DII+3232cr 10 Yr GSec 6.54-2034 YTM 7.0 *News & Views*: * US mkts closed mixed; Nasdaq crossed 17k led by Nvidia * Asian mkts trading mixed lacking conviction * Nifty: Support 22800 Resistance 23050 * LG Electronics India eyes IPO after Hyundai's move; no final decision yet * India & France to begin negotiations for Rafale Marine jet deal tmrw rafale #lgelectronics #Hyundai #technicalanalysis #Nasdaq #Nvidia #stockmarkets #Nifty #sensex

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NSSK (日本産業推進機構), advised by BDA Partners, has agreed to sell its stake in #JapanEnergyComponents to Obara Group Incorporated, a Japan-based machine industry company. #power #energy #welding #bdapartners #theglobalinvestmentbankingadvisorforasia

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With Fed announced 50 bps rate cut, what’s the impact to the investment market? Find below for some insights!

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Shared my insights with Business Standard on Taiwan’s remarkable market surge. Taiwan’s chipmakers thrived amidst global AI 🌟, EV 🚗, and 5G 📡 advancements, while geopolitical moves encouraged US and European markets to reduce reliance on China. Taiwan’s role in reshaping global supply chains offers valuable lessons for investors. Check it out now at:  https://lnkd.in/dxhzRQ78

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The Hong Kong Institute of Marketing(HKIM) recently engaged in an in-depth discussion with Mr. Alex Ma, CEO of LukKa International Group, regarding the development of the Greater Bay Area. As the inaugural Chairperson of the China and Greater Bay Area Affairs Committee, Alex detailed the group’s achievements in industrial transformation and cultural industries. Since its establishment, the group has been committed to innovation and development, successfully integrating traditional printing with modern cultural industries, thereby promoting comprehensive corporate upgrades. In the context of the Greater Bay Area’s development, the group actively responded to national policies by establishing the LukKa Creative Cultural Industry Park and the LukKa Environmental Packaging and Printing Industry Park. These parks have not only enhanced the company’s production efficiency but also injected new vitality into the local economy. By continuously introducing advanced technologies and management concepts, the group has successfully transitioned from traditional manufacturing to cultural and creative industries. The history of LukKa Group’s endeavors is not only a microcosm of corporate development but also a testament to the economic takeoff of the Greater Bay Area. Today, the group’s parks have been rated as national 3A-level tourist attractions, becoming a bright card of industrial tourism in the Greater Bay Area. 香港市務學會與力嘉國際集團行政總裁馬楚力先生(Alex)近日就大灣區的發展進行了深入探討。 本人身為首任中國及大灣區事務委員會主席身份，Alex詳細介紹集團在工業轉型及文化產業的成就。 集團自成立以來，始終致力於創新與發展，並成功將傳統印刷業與現代文化產業結合，推動了企業的全面升級。 在大灣區的發展背景下，集團積極回應國家政策，打造了力嘉創意文化產業園區和力嘉環保包裝印刷產業園區。 這些園區不僅提升了企業的生產效率，也為當地經濟發展注入了新的活力。 集團透過不斷引進先進技術和管理理念，成功實現了從傳統製造業向文化創意產業的轉型。 力嘉集團的奮鬥史不僅是企業發展的縮影，更是大灣區經濟起飛的見證。 如今，集團的園區已被評為國家3A級旅遊景區，成為大灣區工業旅遊的一張亮麗名片。

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Amid falling interest rates, cash investors looking for potentially more attractive returns may consider the Fullerton Short Term Interest Rate Fund. The Fund is designed to achieve medium-term capital appreciation for investors seeking short-dated, quality bonds. It has a stable 20-years return track record since inception. Learn how to optimise your cash further at: https://lnkd.in/gAsjPvyb #interestrates #fixedincome #quality #stability Mark Yuen Angus Hui Kylie S. Melvin Lee Cynara Tan Stephen Tan Sharon Chua, CAIA Jocelyn Tay Zhi Wei Tan, CFA, CESGA Ernest Yeo Sam Ye Calvin Liew, CFA   Disclaimer: Prepared by Fullerton Fund Management Company Ltd (UEN: 200312672W). The value of the units may fall or rise. Please read the prospectus on fullertonfund.com before investing. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. 

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Our Chief Investment Officer Ms. 张弘Harriet Zhang brings you the market outlook for Q3 2024. Harriet:” We remain optimistic on short-term interest rates but expect continued volatility in long-term rates. We recommend allocating to bonds when yields are high, to capture attractive yields. Additionally, we suggest taking advantage of trading opportunities for potential capital gains." #HASLASIA #Q3MarketOutlook #GlobalMarket # #ChinaMarket #ILAS #Investment #FinancialPlanning #GetMoreFromLife #MoreAcademy 

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Looking to diversify and hedge risks in your investment portfolio? MoreHarvest makes Japanese real estate investment simple, secure, and rewarding. With just one share, you gain access to a diversified portfolio of 17 premium properties across Japan, supported by local expertise to ensure stability and consistent returns. Our proven track record of over 95% occupancy rates for more than 20 years speaks volumes about our commitment to providing reliable passive income and safe investments. Unlike other platforms, we emphasize transparency—allowing you to track your investments through user-friendly apps and even visit the properties yourself! Whether you're a seasoned investor or exploring global opportunities for the first time, MoreHarvest helps you invest smartly while saving time and money. Ready to diversify your portfolio and unlock stable returns? #passiveincome #globalinvestment #lowrisk #rentalincome #realestate #japan

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Haize Capital Insights of the Day https://lnkd.in/gU47psd2 #OTA #Japan #TCOM #Ctrip #TongCheng #0780 #DAU #MAU #Investment Internationalization: The Only Opportunity for Tongcheng to Surpass an $8 Billion Market Cap Q3 2024 has been a prosperous quarter for the global travel industry, with Tongcheng Travel (HK: 0780) achieving record highs in both revenue and net profit. Revenue grew by 51.3% year-over-year to RMB 4.99 billion, while operating profit increased by 63.1% year-over-year to RMB 980 million. At first glance, the financial metrics appear flawless. However, from the perspective of operational indicators or in comparison to its competitor Trip.com (NASDAQ: TCOM), shortcomings become evident. Even though Tongcheng’s outbound travel segment lags far behind Trip.com, internationalization remains the only opportunity for Tongcheng to break past its peak value and achieve a 30% increase in market cap—a journey filled with challenges and potential. Growth Bottleneck Starts with User Engagement Analyzing Tongcheng’s operational indicators, its growth bottleneck is increasingly apparent. First, user engagement growth is modest. In Q3, the average monthly paying users (MPUs) increased by only 5% year-over-year, while Q2 even saw a quarter-on-quarter decline. Although its massive base of 46.4 million MPUs makes single-digit growth reasonable, considering that Tongcheng integrated its "Vacation" business into its financials at the start of 2024, dramatic improvements in user engagement, transaction volume, purchase frequency, cross-selling rates, and average revenue per user (ARPU) were theoretically expected. Understanding the following data from the perspective of "Vacation" consolidation explains why Haize Capital views these growth rates as a bottleneck: Transaction volume grew by 2.4% year-over-year. User purchase frequency increased from 5.5 times annually in 2019 to 8 times in 2024. Cross-selling rates rose from 10% in Q3 2023 to 12% in Q3 2024. ARPU grew by 54% compared to the end of September 2023. It appears that profit growth has relied more on cost reduction and efficiency improvements. Internationalization: The Driving Force Behind Trip.com’s Success In comparison to Trip.com, Tongcheng’s weaknesses are even more evident. In Q3, Trip.com reported revenue of RMB 15.9 billion and an operating profit of RMB 5.01 billion, while Tongcheng’s revenue of RMB 4.99 billion is roughly one-third of Trip.com’s, yet its operating profit of RMB 980 million is only one-tenth. Breaking it down by segments: Tongcheng’s accommodation services revenue was RMB 1.38 billion, 20% of Trip.com’s. Transportation ticketing revenue reached RMB 2.03 billion, 36% of Trip.com’s. Vacation revenue was RMB 980 million, even 63% of Trip.com’s corresponding segment. (The full article is available on our official website.)

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Tencent-backed & leading China online healthcare service provider WeDoctor plans for Hong Kong IPO by 2025 June to raise $400 million to $500 million.  Read - https://lnkd.in/gS9iXNVk follow Caproasia | Driving $28 trillion assets in Asia. For top institutional investors, professional investors, financial advisors, private bankers, family offices, investment bankers, leaders & CEOs. Tencent-backed & leading China online healthcare service provider WeDoctor is planning for a Hong Kong IPO by 2025 June to raise $400 million to $500 million.  In 2022 September, WeDoctor raised $163 million at $7 billion valuation.  In 2023, WeDoctor was reported to be planning for a Hong Kong or United States IPO.  In 2021, WeDoctor had filed for IPO in Hong Kong but lapsed the application thereafter.  WeDoctor is an online healthcare services company founded in 2010 by artificial intelligence expert Jerry Liao.  The company has more than 240 million registered users for its online doctors consultation, prescription and diagnosis services. The company builds, owns and operates one of China’s largest digital healthcare infrastructure platforms by linking hospitals and doctors with patients, pharmacies, insurance programs and financial services.

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Hong Kong is a premier destination for startups, thanks to its strategic location, world-class infrastructure, and access to a deep pool of talent and capital. The city has cultivated an environment that nurtures cutting-edge technologies and disruptive business models, supported by initiatives like Cyberport Hong Kong and HKSTP - Hong Kong Science and Technology Parks Corporation. Key factors driving Hong Kong's startup success: 🌉 Connectivity: Hong Kong’s position as a gateway to mainland China and the rest of Asia opens vast market opportunities for startups. 💰 Funding: The city boasts a robust venture capital and angel investor community, providing essential capital for scaling. 🧠 Talent: Hong Kong attracts top technical and business talent from around the world, fueling innovation. 🏢 Infrastructure: World-class facilities, co-working spaces, and government initiatives, including Cyberport Hong Kong's support for over 2,000 tech companies and HKSTP - Hong Kong Science and Technology Parks Corporation's R&D facilities for over 1,800 firms, make Hong Kong an attractive launchpad for startups. 🤝 Collaboration: Organisations like the FinTech Association of Hong Kong foster collaboration among fintech startups, financial institutions, and investors, enhancing the ecosystem. 📅 Events: Annual gatherings like Hong Kong FinTech Week showcase the thriving fintech landscape, connecting industry leaders and innovators with investors. At Felix Strategic Investments, we’re excited to be part of this thriving ecosystem. We actively seek the most promising startups in FinTech, HealthTech, and semiconductor design to partner with and accelerate their growth. If you’re a founder working on innovative solutions in these sectors, we’d love to connect and explore collaboration opportunities. Drop us a message to start the conversation! #HongKong #Startups #FinTech #HealthTech #Semiconductors #VentureCapital #Investment #Funding

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Astounding news in e-commerce: last month’s inaugural Hong Kong Shopping Festival has just made waves by amassing over 90 million views across various mainland Chinese e-commerce platforms! The festival featured over 30 livestreaming events across platforms like 小紅書(Little Red Book), 抖音(Douyin), and 淘寶(Taobao) with renowned hosts, generating impressive sales for participating brands. It was a fantastic opportunity for brand visibility and business performance: for instance, a vendor reported a 135-fold increase in orders during the festival! Events like Hong Kong Shopping Festival 2024 are great ways for local businesses to gain exposure to the mainland market and foster innovation in the wider GBA e-commerce landscape. The HKSAR Government also has ongoing support for SMEs through initiatives like the SME Export Marketing Fund. It’s clear that there’s now significant opportunities for businesses to expand into the mainland e-commerce market! #HongKong #Ecommerce #SMEs #BusinessGrowth #Innovation https://lnkd.in/giqazMgr

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