💼 Big Moves in Real Estate and IPO Markets: OUE Increases GPI Stake, Sinarmas Land Offer Rises, CATL Alters IPO Strategy, MUST Offloads Peachtree
LJ3.SI (OUE), 0535.HK (GPI)
OUE (LJ3.SI) has raised its stake in Gemdale Properties and Investment Corp. (0535.HK) from 25.88% to 29.07% by acquiring 530 million shares at HK$0.28 each, totaling HK$146.4 million (US$24.5 million). OUE said the acquisition would maintain exposure to China’s real estate market and future opportunities, though it has no material impact on its NTA.
A26.SI (SINARMAS LAND)
Sinarmas Land (A26.SI) is closer to being privatised after the Widjaja family, through Lyon Investments, raised their offer to S$0.375 per share from the previous S$0.31. The offer closing date has been extended to May 29. As of May 9, acceptances brought Lyon’s control to 94.15%. Shares last closed at S$0.32.
BTOU.SI (MANULIFE US REIT)
Manulife US Real Estate Investment Trust (BTOU.SI) has sold the Peachtree property in Atlanta for US$133.8 million, netting US$118.8 million. Proceeds will go toward early repayment of 2026 debts, reducing outstanding obligations to US$45.1 million. Including previous sales, MUST has now repaid close to US$290 million in debt since November 2024, achieving 82% of its mandated target under a restructuring agreement. Units closed at US$0.063 on May 9, up 5% for the day, though still down 30% year-to-date.
BABA (NYSE: BABA), 0700.HK (TENCENT), 2318.HK (PING AN), 1833.HK (CHINA GRAND PHARMACEUTICAL), 0605.HK (CTIHK), 1070.HK (TCL ELECTRONICS), 1339.HK (PICC GROUP), 546.HK (FUFENG GROUP)
The Hang Seng Index (HSI) jumped 681 points, led by a strong rebound in handset and export-related stocks. Alibaba (BABA) rose over 6%, Tencent (0700.HK) gained more than 4%, and Ping An (2318.HK) climbed over 3%. Other top performers hitting new highs included China Grand Pharmaceutical (1833.HK), CTIHK (0605.HK), TCL Electronics (1070.HK), PICC Group (1339.HK), and Fufeng Group (546.HK).
0005.HK (HSBC), 0700.HK (TENCENT)
Citi maintained a positive outlook on local Hong Kong stocks like HSBC (0005.HK) and Tencent (0700.HK) as tariff risks fade. It raised its year-end HSI target to 25,000, highlighting the appeal of domestically driven earnings.
0700.HK (TENCENT)
CLSA reiterated a “High Conviction Outperform” on Tencent (0700.HK) ahead of Q1 earnings, expecting solid results across gaming, ads, AI, and shareholder returns. Multiple brokers estimate Tencent’s adjusted net profit to rise 18% YoY.
0175.HK (GEELY AUTO)
HSBC Research raised its target price for Geely Auto (0175.HK) to HK$26 and lifted 2025–2026 profit forecasts by 6–7%, citing strong NEV sales and improving margins.
0175.HK (GEELY AUTO)
CMS raised its target price for Geely Auto (0175.HK) to HK$27.50, calling the proposed privatization price for its EV unit Zeekr “reasonable.” Momentum in the NEV space and Geely’s sales performance continue to support upward revisions.
02382.HK (SUNNY OPTICAL)
Sunny Optical (02382.HK) reported April handset lens set shipments grew 1.3% YoY to 103 million units and rose 9.2% MoM. However, handset camera module shipments dropped 14.1% YoY, despite a 5.2% MoM gain.
02382.HK (SUNNY OPTICAL)
Sunny Optical (02382.HK) received an upgrade from Haitong International to “Outperform,” with a new target price of HK$72.10. The move comes as investor sentiment remains bullish on smartphone-related stocks amid upbeat April shipment figures.
0388.HK (HKEX)
Goldman Sachs raised its 2025 earnings forecast for HKEX (0388.HK) by 2% and lifted its target price to HK$398, citing stronger trading volume and improving macro sentiment driven by easing U.S.-China tensions.
0605.HK (CTIHK)
The Hang Seng Index (HSI) jumped 681 points, led by a strong rebound in handset and export-related stocks. Alibaba (BABA) rose over 6%, Tencent (0700.HK) gained more than 4%, and Ping An (2318.HK) climbed over 3%. Other top performers hitting new highs included China Grand Pharmaceutical (1833.HK), CTIHK (0605.HK), TCL Electronics (1070.HK), PICC Group (1339.HK), and Fufeng Group (546.HK).
0656.HK (FOSUN INTL), CITIC GROUP
Fosun International (0656.HK) and CITIC Group entered a broad cooperation deal covering finance, healthcare, tourism, and smart manufacturing, as major conglomerates pivot to high-value sectors.
0941.HK (CHINA MOBILE)
Citi projected that a China-U.S. Phase 1.5 deal could bring U.S. reciprocal tariffs down to 45%, with China Mobile (0941.HK) expected to benefit due to its U.S. exposure.
0981.HK (SMIC)
SMIC (0981.HK) saw mixed analyst updates: CLSA kept its “Outperform” rating but cut its TP to HK$59, while BOCOM International reduced it to HK$45. Nomura lifted its TP to HK$42.50, keeping a Neutral stance. Goldman Sachs maintained a “Buy” while slashing profit forecasts from 2025 to 2029.
1070.HK (TCL ELECTRONICS)
The Hang Seng Index (HSI) jumped 681 points, led by a strong rebound in handset and export-related stocks. Alibaba (BABA) rose over 6%, Tencent (0700.HK) gained more than 4%, and Ping An (2318.HK) climbed over 3%. Other top performers hitting new highs included China Grand Pharmaceutical (1833.HK), CTIHK (0605.HK), TCL Electronics (1070.HK), PICC Group (1339.HK), and Fufeng Group (546.HK).
1339.HK (PICC GROUP)
The Hang Seng Index (HSI) jumped 681 points, led by a strong rebound in handset and export-related stocks. Alibaba (BABA) rose over 6%, Tencent (0700.HK) gained more than 4%, and Ping An (2318.HK) climbed over 3%. Other top performers hitting new highs included China Grand Pharmaceutical (1833.HK), CTIHK (0605.HK), TCL Electronics (1070.HK), PICC Group (1339.HK), and Fufeng Group (546.HK).
1810.HK (XIAOMI-W)
Xiaomi-W (1810.HK) faced backlash over its SU7 Ultra EV after being accused of “false propaganda,” prompting some car owners to demand refunds. The controversy may cloud an otherwise upbeat Q1, as JPMorgan maintained its price target at HK$60 and a Neutral rating, expecting strong earnings.
1810.HK (XIAOMI-W)
Xiaomi-W (1810.HK) faces scrutiny after consumer complaints surfaced over its SU7 Ultra EV, alleging false advertising. The incident has dented sentiment despite expectations for strong Q1 earnings.
1818.HK (ZHAOJIN MINING)
Zhaojin Mining (1818.HK) dropped nearly 7% as gold prices fell more than 2% due to easing U.S.-China trade tensions.
1928.HK (SWIRE PROPERTIES)
CLSA trimmed its 2025 and 2026 profit forecasts for Swire Properties (1928.HK), pointing to persistent uncertainties around global tariffs and trade friction.
2628.HK (CHINA LIFE), 386.HK (CHINA PETROLEUM & CHEMICAL)
HSBC cut target prices for major Chinese oil stocks, though PetroChina (0857.HK) was named its top pick as Q2 oil earnings are expected to dip on softening prices.
2899.HK (ZIJIN MINING)
Zijin Mining (2899.HK) is reportedly working with CITIC Securities and Morgan Stanley on spinning off its international gold mining business for a Hong Kong IPO, in a bid to unlock shareholder value and capitalize on commodity strength.
300750.SZ (CATL)
CATL (300750.SZ) is restructuring its upcoming Hong Kong IPO to exclude onshore U.S. investors by shifting to a Reg S-only offering. The battery giant aims to raise at least US$4 billion, potentially up to US$5.3 billion if fully upsized. The move follows its inclusion on a Pentagon blacklist, prompting political pressure on banks like Bank of America and JPMorgan Chase to drop the deal—both are still involved. Despite tensions, demand for the IPO remains high, and CATL expects to start investor orders soon.
300750.SZ (CATL Parent)
The IPO of CATL’s spin-off launched today, with a minimum 1-lot entry cost of HK$26,565.24. The listing is expected to draw strong interest from institutional and retail investors focused on battery and EV sectors.
601398.SS (ICBC)
ICBC issued RMB 20 billion worth of technological innovation bonds, reinforcing Beijing’s drive to fund strategic industries and digital infrastructure.
9988.HK (Alibaba)
Alibaba’s Joseph Tsai emphasized that “all businesses should be AI-driven” within the next 3–5 years, reinforcing the company’s commitment to technological transformation.
📈 Markets Soar as U.S.-China Tariff Truce Sparks Broad Rally: Tesla, Apple, Amazon Lead Surge
TSLA (NASDAQ: TSLA), AAPL (NASDAQ: AAPL), NVDA (NASDAQ: NVDA), BBY (NYSE: BBY), DELL (NYSE: DELL), AMZN (NASDAQ: AMZN)
U.S. stocks staged a powerful comeback Monday as trade optimism between the U.S. and China lifted investor sentiment. The Dow Jones Industrial Average jumped 1,160.72 points (+2.81%) to close at 42,410.10, while the S&P 500 soared 3.26% to 5,844.19. The Nasdaq Composite rallied 4.35% to finish at 18,708.34, recording its strongest single-day performance since April 9.
Tech giants and China-exposed names led the surge: Tesla (TSLA) surged nearly 7%, Apple (AAPL) climbed 6%, and Nvidia (NVDA) rose 5%. Retailers and electronics names also gained, with Best Buy (BBY) up 6%, Dell Technologies (DELL) adding almost 8%, and Amazon (AMZN) advancing over 8%.
Treasury Secretary Scott Bessent confirmed that the U.S. and China had agreed to a temporary tariff reduction — U.S. duties cut to 30% and China’s to 10% — after productive weekend talks in Switzerland. More negotiations are expected in the coming weeks.
KO (NYSE: KO), PM (NYSE: PM), T (NYSE: T)
As risk appetite returned, defensive stocks faltered. Coca-Cola (KO) dropped 1.4%, Philip Morris (PM) fell 2.9%, and AT&T (T) declined nearly 3% as investors rotated out of safe havens.
SPX, DJI, IXIC
The rally marked a full reversal from last month’s slump, when tariffs peaked at 145% under President Trump, threatening recession and pushing the S&P 500 close to bear market territory. The weekend agreement appears to have restored some investor confidence in the White House’s capacity to secure trade deals, following last week’s U.K. agreement.
BAC (NYSE: BAC)
Analysts at Bank of America (BAC) dubbed the market bounce evidence that the “Trump put” — expectations of presidential intervention to prevent market downturns — is still in play. However, they warned that the 10% baseline tariff from April may be a longer-term fixture, as emphasized by Commerce Secretary Howard Lutnick.
VIX (INDEXCBOE: VIX)
The CBOE Volatility Index (VIX), Wall Street’s fear gauge, fell below 20 for the first time since March, signaling eased investor anxiety after the U.S. and China agreed to pause most tariffs. The VIX hit 19 on Monday, down sharply from its April 7 peak of 60.13 when tariff tensions peaked.
TSLA (NASDAQ: TSLA)
Tesla soared 6.6% on Monday, pushing its market cap back above the $1 trillion mark for the first time since February 24. Despite the gain, the EV giant remains down over 21% for the year.
KWEB (NYSEARCA: KWEB), FXI (NYSEARCA: FXI), MCHI (NASDAQ: MCHI), BABA (NYSE: BABA), JD (NASDAQ: JD), BIDU (NASDAQ: BIDU)
China-focused ETFs rallied as tariffs were temporarily lowered. KraneShares CSI China Internet ETF (KWEB) surged 5%, while iShares China Large-Cap ETF (FXI) and iShares MSCI China ETF (MCHI) rose over 3%. Chinese tech names also popped — Alibaba (BABA) and JD.com (JD) jumped more than 6%, and Baidu (BIDU) added over 5%.
AMZN (NASDAQ: AMZN), CCL (NYSE: CCL), WYNN (NASDAQ: WYNN), WSM (NYSE: WSM)
Consumer discretionary stocks logged their best day in over a month. Carnival (CCL) led gains with a 10% rise, followed by Wynn Resorts (WYNN) and Williams-Sonoma (WSM) at 8%. Amazon (AMZN) gained over 7%.
BAC (NYSE: BAC)
Bank of America said in a note that while the tariff truce exceeded expectations, the road to a lasting agreement remains uncertain. Analyst Xiaoqing Pi noted negotiations may include fentanyl control, rare earth exports, and energy deals.
IHE (NYSEARCA: IHE), MRK (NYSE: MRK), PFE (NYSE: PFE), BMY (NYSE: BMY), LLY (NYSE: LLY), CVS (NYSE: CVS), COR (NYSE: COR), HIMS (NYSE: HIMS)
Pharma stocks rebounded Monday as drug price orders were seen as less harsh than feared. iShares U.S. Pharmaceuticals ETF (IHE) gained 1.7%. Merck (MRK) rallied 5%, Pfizer (PFE), Bristol-Myers Squibb (BMY), and Eli Lilly (LLY) all climbed over 2%. Retailers CVS Health (CVS) and Cencora (COR) dropped 4% and 2% respectively, while Hims & Hers (HIMS) jumped more than 7% on expectations of benefiting from direct-to-consumer reforms.
NRG (NYSE: NRG)
NRG Energy surged nearly 20% after acquiring natural gas assets from LS Power for $12 billion. The deal doubles its power generation to 25 GW and is expected to boost EPS growth to 14% over five years.
DJI, SPX, IXIC
All three major indexes posted their best day since April 9. The Dow Jones Industrial Average rose over 1,100 points, the S&P 500 gained 3.26%, and the Nasdaq Composite jumped 4.4%. Tariff cuts from 145% to 30% triggered the rally after U.S.-China talks in Switzerland.
CL=F (NYMEX Crude), BZ=F (Brent Crude)
Crude oil prices jumped on trade optimism. U.S. crude rose $2.08 (+3.41%) to $63.10, and Brent gained $2.06 (+3.22%) to $65.97 per barrel. Traders are hopeful the tariff truce will revive global demand.
COIN (NASDAQ: COIN), DFS (NYSE: DFS)
Coinbase (COIN) spiked in after-hours trading on news it will join the S&P 500, replacing Discover Financial (DFS) following its acquisition. Meanwhile, Bitcoin crossed the $100,000 mark last week.
MAT (NASDAQ: MAT), HAS (NASDAQ: HAS), JAKK (NASDAQ: JAKK), FNKO (NASDAQ: FNKO)
Toy stocks rallied on tariff relief. Mattel (MAT), Hasbro (HAS), Jakks Pacific (JAKK), and Funko (FNKO) all climbed as their China-reliant supply chains gained breathing room.
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