KL:6888.KL:Axiata Group
Axiata Group has completed the sale of its Myanmar tower operations for US$90 million, reduced from the originally proposed US$150 million. The sale was made through Axiata’s 63%-owned unit edotco Group to Hong Kong’s Zillion Tower Holdings. The price revision followed a strategic review involving multiple potential buyers.
KL:7277.KL:Dialog Group
Dialog Group secured a 14-year production-sharing contract from Petronas for the Mutiara Cluster offshore Sabah. Dialog Resources, a wholly owned unit, will operate the five-field cluster with 100% interest. First production is targeted for 2029 under Malaysia Bid Round 2025. The contract includes a two-year pre-development phase, followed by two years of development, and ten years of production.
KL:1996.KL:Kretam Holdings
A consortium led by DCAH Holdings and individuals Chiong Kiau and Chiong Hang Leong acquired a 10% stake in Kretam Holdings for RM162 million, becoming its second-largest shareholder. The acquisition was executed through Kahang Palm Oil Mill and Jeng Huat (Bahau) Realty as food oil prices continue to rise due to geopolitical tensions and weather disruptions.
KL:1961.KL:IOI Corp
IOI Corp announced that former Bursa Malaysia chairman Tan Sri Abdul Wahid Omar will join its board as senior independent non-executive director on June 16. This follows his recent appointment as chairman of Cypark Resources (KL:5184.KL:Cypark Resources).
KL:0313.KL:UUE Holdings
UUE Holdings secured three new contracts worth RM83.4 million from Sutera Utama Sdn Bhd, bringing its order book to a record RM416 million. The new deals follow RM92.4 million in recent contract wins, providing earnings visibility for two to three years.
KL:9948.KL:Rex Industry
Rex Industry received a mandatory takeover offer at 10 sen per share from ETA Industries, after the latter acquired a 40.59% stake for RM26.81 million. ETA Industries also acquired 39.18% of Rex’s total warrants. CEO Lim Chin Hui intends to maintain Rex’s Bursa Malaysia listing post-takeover.
HK:03311.HK:China State Construction International
BOCI raised China State Construction’s target price to HKD13.5, rating Buy.
HK:1211.HK:BYD Company
Citi cut BYD’s target price to HKD233 but kept its Buy rating.
HK:01929.HK:Chow Tai Fook
BofA raised Chow Tai Fook’s TP to HKD15.4; Macquarie lowered it to HKD14.1, while Citi lifted it to HKD14 and Daiwa to HKD15.5. UBS noted FY profit beat, dividend missed. Chow Tai Fook jumped 8% after management forecast same-store sales improvement.
HK:0700.HK:Tencent
HK:0241.HK:TVB
US:HUAWEI:Huawei (private)
HK:0000.HK:Shenzhen TV (private)
TVB surged 13% after signing cooperation deals with Tencent, Huawei, and Shenzhen TV.
US:MP:MP Materials
US may invoke Cold War-era powers to fund rare earth projects; MP Materials soared 8.5% post-market.
CN:Guangzhou Property Market
Guangzhou proposed easing housing restrictions: lifting purchase, sale, price controls, lowering down payments and interest rates.
HK:3115.HK:Hang Seng Index
HSI fell 168 pts to 23,866 at midday; oils, golds, shippers rose while pharma pulled back. HSTI down 110 pts to 5,220.
HK:09992.HK:Pop Mart
CLSA raised Pop Mart’s TP to HKD300; Citi raised it to HKD308 as IP recognition improves.
CN:Bitcoin/Ethereum
Bitcoin and Ethereum fell 3% and 9% respectively amid Middle East tensions.
US:CL.OIL:NY Crude Oil Futures
NY crude futures surged 14% after Iran warned of harsh retaliation against Israel.
CN:CKH Port Talks
Chinese firms reportedly plan to join a consortium for CK Hutchison’s port acquisition.
HK:6696.HK:TransThera BioPharma
TransThera-B IPO launched today; entry fee HKD6,641.31.
CN:WeChat Pay HK
WeChat Pay HK spending at local SMEs rose 1.3x YoY in 5M25.
HK:00239.HK:Sanhua
Tesla supplier Sanhua IPO launched today; entry fee HKD2,275.72.
CN:Consumer Product Recall
SAMR tightens regulation on online consumer product recalls.
HK:1788.HK:Guotai Junan International (GTJAI)
GTJAI sees HK stocks in medium to long-term uptrend driven by tech innovation.
US:DIA:Dow Jones Industrial Average
DJIA futures plunged 600+ pts after Israel attacked Iran’s nuclear program, sparking global risk-off sentiment.
US:CL.OIL:NY Crude Oil Futures
New York oil futures surged over 8% following the Israeli strike on Iran.
HK:0005.HK:HSBC
HSBC repurchased ~8.61M shares on June 12, involving HKD800M.
HK:1877.HK:Junshi Biosciences
Junshi Bio placed shares at 11.5% discount, raising net HKD1.03B.
HK:1359.HK:China Cinda
HK:9988.HK:Alibaba
China Cinda partnered with Alibaba Assets to recommend special assets worth over RMB100B.
HK:1177.HK:Sino Biopharm
Sino Biopharm plans to launch 5 innovative products annually over next 3 years; landmark out-licensing deal expected soon.
HK:0241.HK:TVB
HK:0700.HK:Tencent
US:HUAWEI:Huawei (private)
HK:0000.HK:Shenzhen TV (private)
TVB signed cooperation deals with Tencent, Huawei, and Shenzhen TV.
CN:NEV Policy (CADA)
CADA’s Cui Dongshu commented on current debate: “only buy ICEVs, not NEVs,” drawing wide market attention.
CN:SAMR Regulation
SAMR approved establishment of National Platform Economic Governance Standardization Technical Committee.
HK:0700.HK:Tencent
HK:9868.HK:XPeng
Tencent, XPeng, and other HK stocks may list via the new “H+A” mechanism in 4Q25.
⚠️ “Markets Rattle as Israel-Iran Conflict Escalates; Oil Surges, Travel & Payments Stocks Sink, Defense & Gold Rally”
US:DIA:Dow Jones Industrial Average
US:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
Stocks tumbled Friday after Israel’s airstrikes on Iran triggered global market volatility. The Dow Jones Industrial Average plunged 769.83 points or 1.79% to 42,197.79. The S&P 500 dropped 1.13% to 5,976.97, and the Nasdaq Composite slipped 1.30% to 19,406.83. Nvidia and other leading tech stocks fell as investors pulled back on risk. Meanwhile, oil and defense stocks rallied. Exxon (US:XOM:Exxon Mobil) climbed 2%, Lockheed Martin (US:LMT:Lockheed Martin) and RTX (US:RTX:RTX Corporation) jumped over 3% each.
Geopolitical tensions escalated after Israel declared a state of emergency, followed by Iran’s retaliatory missile strike targeting Israel. Iran also withdrew from nuclear talks with the U.S. Brent and WTI crude oil both surged over 7%, while gold reached a near two-month high. University of Michigan’s consumer sentiment jumped to 60.5 in June, well above expectations.
US:SHW:Sherwin-Williams
Citi downgraded Sherwin-Williams to neutral from buy, citing a sluggish housing market. The price target was cut to $385 from $405. Sherwin-Williams shares have gained 5.7% YTD but dropped 5.7% on Friday.
US:WHR:Whirlpool
Bank of America upgraded Whirlpool to neutral from underperform, raising its price target to $94 from $68. Whirlpool shares rose over 3.5% Friday but remain down about 20% YTD. Analyst Rafe Jadrosich highlighted the company’s ability to navigate tariffs as 80% of its U.S. sales are manufactured domestically.
US:BKNG:Booking Holdings
US:EXPE:Expedia
US:ABNB:Airbnb
US:HLT:Hilton
US:IHG:InterContinental Hotels Group
US:MAR:Marriott
Travel stocks fell amid heightened tensions. Expedia, Booking Holdings, and Airbnb each dropped around 2%, while Hilton, InterContinental, and Marriott slid over 1%. Cruise lines and airlines were hit as oil surged.
US:GLD:SPDR Gold Shares
US:GDX:VanEck Gold Miners ETF
US:NEM:Newmont Corp
US:GOLD:Barrick Gold
Gold-related investments surged as safe haven demand rose. Gold futures hit a two-month high, GLD gained 1.2%, GDX rose 1.5%, driven by Newmont’s 2.1% gain and Barrick Mining’s 2.1% advance.
US:WMT:Walmart
US:AMZN:Amazon
US:V:Visa
US:MA:Mastercard
US:AXP:American Express
US:COF:Capital One
US:PYPL:PayPal
US:SQ:Block
US:CIRCLE:Circle (Private)
US:SHOP:Shopify
Payment stocks slid after reports that Walmart and Amazon are exploring issuing their own stablecoins. Visa and Mastercard fell over 4%, American Express dropped 2%, Capital One slipped 1.3%, PayPal declined 4%, and Block fell 1.6%. Circle continued to gain after its IPO, supported by Shopify enabling USDC payments.
US:AAL:American Airlines
US:UAL:United Airlines
US:DAL:Delta Air Lines
Airline stocks declined due to rising oil prices and fallout from Thursday’s fatal Air India Dreamliner crash. American Airlines and United Airlines each fell 4%, Delta dropped 3%.
US:PLTR:Palantir
Palantir shares bucked the broader sell-off, rising about 1% on Friday amid escalating tensions. The stock is seen as a key defense player for the U.S. and Israel, and has surged more than 80% YTD.
US:BTC:Bitcoin
Bitcoin slipped to $103,000 from earlier highs near $112,000 following Israel’s airstrikes, as investors de-risked amidst oil spikes and rising yields. Despite the pullback, Bitcoin has stayed above $100,000 for over 30 consecutive days.
SGX:F9D.SI:Boustead Singapore
Boustead Singapore is exploring the sale of stakes in its logistics and industrial assets to a REIT for a potential SGX Mainboard listing. The company emphasized that no deal is certain yet. As of FY2025 ended March 31, Boustead’s NAV per share rose to 118.3 cents, up 12% from FY2024’s 105.8 cents. The company also manages multiple real estate funds through its ventures and partnerships.
SGX:RE4.SI:Geo Energy
Geo Energy’s subsidiary has agreed to sell its shares in Sumber Bara Jaya (SBJ) for US$18 million. Following the sale, Geo Energy will cease to hold interests in SBJ and Bumi Enggang Khatulistiwa (BEK). The disposal is aimed at exiting non-core, loss-making assets, with BEK having reported a cumulative loss of US$0.6 million from 2022 to 2024. The deal will slightly improve Geo Energy’s EPS to 2.63 US cents from 2.62 US cents and increase NTA per share to $38.20.
SGX:B26.SI:Ban Leong Technologies
Epicsoft Asia, a subsidiary of GCL Global, has acquired more than 90% of Ban Leong Technologies’ shares and will proceed with a compulsory acquisition of the remaining shares. With public shareholding falling below 10%, SGX has suspended Ban Leong’s trading. Epicsoft first offered 60.29 cents per share on April 30. Managing director Ronald Teng Woo Boon and his wife Teo Su Ching tendered approximately 28.13% of total shares.
HK:1821.HK:ESR Group
ESR Group shareholders approved its privatisation, with 99.97% voting in favor. A consortium including Starwood Capital Group, SSW Partners, Sixth Street, Warburg Pincus, Qatar Investment Authority, and ESR’s founders will acquire ESR Group for HK$55.2 billion, marking HKSE’s largest privatisation since 2021. ESR is expected to delist on July 3.
SGX:U96.SI:Sembcorp Industries
Sembcorp Industries’ subsidiary has acquired an additional 50% stake in Senoko Energy for $72 million, which includes a $69 million purchase price and $3 million in working capital adjustments. The acquisition is expected to be accretive to Sembcorp’s EPS for FY2025 but won’t significantly impact NTA. Sembcorp earlier signed agreements to acquire up to 57.1% in Lion Power, which holds 70% in Senoko Energy.
SGX:AWI.SI:Thakral Corporation
Thakral Corporation’s associate GemLife has signed underwriting agreements for its proposed IPO on the Australian Securities Exchange. JP Morgan Securities Australia and Morgan Stanley Australia Securities are joint lead managers and underwriters. Thakral owns 31.7% of GemLife, which offers lifestyle resort communities in Australia.
Thank you
