Industrial & Commercial Bank of China Ltd (1398)

Last price: 4.90

The Industrial & Commercial Bank of China Ltd (ICBC) is showcasing a promising bullish uptrend. The stock has recently broken out of a pennant and symmetrical triangle, indicating potential positive price action.

Entry Prices: 4.90, 4.58, 4.28

Support Levels: 4.53, 4.17

Stop Loss: 3.97

Resistance Levels: 4.92, 6.00

Target Prices: 5.21, 6.12, 7.00, 8.12

The stock has tested the resistance zone between HK\$4.81-HK\$4.92 multiple times, which is likely to be weakened and thus broken to the upside. The weekly chart suggests another new high after breaking above HK\$4.83 resistance top. The long-term uptrend remains intact within the 14-year uptrend channel and has formed a bullish golden cross. Additionally, the price closes above all ichimoku indicators, MACD histogram is positive, the stochastic oscillator is rising, and volume spike supports the bullish breakout.

Genting Singapore

9M24 adj. EBITDA: S\$734.7m (-7.9% yoy)

Genting Singapore has reported a 9M24 adjusted EBITDA of S\$734.7 million, which missed expectations at 64.3%/64.8% of CGS International and Bloomberg consensus FY24F estimates. The company’s 3Q24 adjusted EBITDA declined 52.5% yoy to S\$163.9 million due to lower gaming revenue, which fell by 28.2% yoy as a result of weaker VIP rolling volume and win rates.

As a result of this near-term earnings weakness, CGS International has reduced its FY24F-26F adjusted EBITDA by 6.7-18.4%. Despite this, the firm reiterates an “Add” rating with a lower target price of S\$1.05.

DBS Group

The focus for DBS Group remains on capital management. While specific details on their financial performance are not provided, the emphasis on capital management suggests a strategic approach to maintaining financial stability and growth amidst market fluctuations.

Foshan Haitian Flavouring

Foshan Haitian Flavouring is experiencing a positive recovery trend continuing into 4Q24F. This indicates a strong performance in the latter part of the fiscal year, driven by market demand and strategic business operations. The company remains a key player in its sector, showing resilience and growth potential.

PTT Oil and Retail Business

PTT Oil and Retail Business has plunged into the red due to a hefty stock loss. The financial strain reflects significant challenges faced by the company in managing its inventory and market positioning. This downturn calls for strategic reassessment and potential shifts in business operations to regain financial stability.