Comprehensive Analysis of Singapore Retail Companies – Trendspotter Report

Broker: CGS International Securities

Date: December 3, 2024

Overview of Market Trends and Indices

The December 3, 2024 Trendspotter report from CGS International Securities provides a detailed analysis of the current market trends and indices, highlighting the performance of various global markets. The report indicates a positive lead from Wall Street with a rally in technology companies, leading to fresh all-time highs. Notably, the Nasdaq 100, driven by Tesla Inc. and Apple Inc., rose over 1%. Asian markets are expected to follow this trend with gains in Sydney, Tokyo, and Shanghai. The currency markets are also in focus with the US dollar recovering after a brief losing streak.

Maoyan Entertainment (HKG: 1896) – Technical Buy

Maoyan Entertainment is presented as a technical buy opportunity in the report. The suggested entry prices are 8.86, 8.00, and 7.00, with a stop loss at 6.40. The target prices are set at 10.15, 12.10, 13.22, and 15.00. The analysis suggests a bullish outlook with potential for significant upside.

Singapore Market Strategy

For the Singapore market, the MSCI Singapore Free Index (SIMSCI) closed November 2024 at 370.94 points, marking a 9% increase month-on-month. Despite this, full-year forecasts for non-oil domestic exports (NODX) and consumer price index (CPI) have been lowered. The end-of-year SIMSCI target is maintained at 351.2 points, pegged at a 13.5x price-to-earnings ratio.

Banks in Singapore

Singaporean banks showed improved loan growth in October 2024, indicating a positive trend in the financial sector.

Velesto Energy Berhad (MAL) – Negative Newsflow

The report highlights a negative newsflow building up for Velesto Energy Berhad in Malaysia, suggesting caution for investors.

Property Market in Hong Kong

The report notes that multi-entry visas for Shenzhen residents to Hong Kong are set to resume, which could impact the property market positively.

OKH Global Ltd (SIN) – Technical Buy

OKH Global Ltd, a property developer in Asia, is identified as a technical buy. The last recorded price is 0.016, with entry prices at 0.016, 0.013, and 0.011. The support levels are at 0.014 and 0.010, with a stop loss at 0.009. Resistance levels are identified at 0.020 and 0.034, with target prices set at 0.024, 0.030, 0.038, and 0.042.

Technical Analysis of OKH Global Ltd

• The price action suggests a potential strong bullish reversal and a new uptrend.
• The stock has broken out of the intermediate downtrend line since June 2022.
• The bullish breakout of the consolidative range is supported by strong rising volume.
• Prices are trending above all Ichimoku indicators.
• The MACD/signal line is rising with a positive histogram.
• The Stochastic Oscillator is on the rise.
• The 23-period ROC has risen above the zero line.
• The directional movement index indicates strong bullish strength.
• Volume has risen above the 20-period average, indicating sustained bullish strength.

Disclaimer

The report is intended for informational purposes only and does not constitute an offer or solicitation to buy or sell any securities. It emphasizes the importance of conducting independent evaluations and consulting professional advisors before making investment decisions.

Global and Regional Market Disclosures

The report includes detailed regional disclosures for markets including Australia, Canada, China, France, Germany, Hong Kong, Indonesia, Ireland, Malaysia, New Zealand, Singapore, South Korea, Spain, Sweden, Switzerland, Thailand, UAE, UK, and the USA, outlining the regulatory environments and distribution restrictions in these regions.

Rating Distribution

The rating distribution for the quarter ended September 30, 2024, is as follows: 67.0% of stocks are rated as “Add,” 23.5% as “Hold,” and 9.5% as “Reduce.” Investment banking clients account for 0.5%, 0.9%, and 0.2% of these ratings, respectively.

Recommendation Framework

The report defines stock ratings as follows: “Add” for expected returns over 10% in 12 months, “Hold” for returns between 0% and 10%, and “Reduce” for expected declines below 0%. Sector ratings are categorized as Overweight, Neutral, or Underweight based on market cap-weighted recommendations. Country ratings suggest positioning relative to benchmarks.