Broker: CGS International
Date of Report: July 10, 2025

Singapore Stocks in Focus: Ley Choon Group Holdings in Bullish Momentum, Nvidia Hits \$4 Trillion, and China’s Economic Reform Accelerates

Market Highlights and Global Recap

The global financial markets have witnessed a historic milestone as Nvidia Corp. surges past a \$4 trillion market capitalization, cementing its dominance in the tech sector and the S&P 500 Index. Meanwhile, China’s renewed supply-side reform is poised to combat deflationary pressures, with a four-pronged approach to economic management. This market update also spotlights Singapore-listed Ley Choon Group Holdings Ltd, which is exhibiting a robust bullish trend, drawing attention from both technical and fundamental analysts.

Nvidia Corp. Achieves Record Market Cap

Nvidia Corp. has become the first company to reach a \$4 trillion market valuation, with shares rising 2.8% to \$164.42. Despite a challenging start to the year, Nvidia has rebounded strongly, driven by sustained demand for its AI computing systems. The company’s share price is up over 20% year-to-date and more than 1,000% since early 2023. Nvidia now makes up a staggering 7.5% of the S&P 500 Index, underscoring its outsized influence on the broader market.

A significant catalyst for Nvidia’s growth is the unwavering AI spending commitment from leading technology giants. Microsoft, Meta Platforms, Amazon, and Alphabet are collectively projected to invest approximately \$350 billion in capital expenditures in their upcoming fiscal years, up from \$310 billion this year. These tech leaders account for over 40% of Nvidia’s revenue, highlighting the company’s integral role in powering the next wave of AI-driven infrastructure.

China’s ‘New Supply-Side Reform’: Economic Strategy for 2025 and Beyond

• China faces increasing risks of a deflationary trap, making it urgent to implement a “new supply-side reform” during the upcoming 15th Five-Year Plan (FYP).
• The reform will target “division” (property destocking) and “subtraction” (capacity reduction) to address supply imbalances.
• It will also emphasize “addition” (boosting government leverage) and “multiplication” (accelerating AI development) to spur economic growth and innovation.

Singapore Stock in Focus: Ley Choon Group Holdings Ltd

Ticker: Ley Choon Group Holdings Ltd
Last Price: S\$0.07

Company Overview

Ley Choon Group Holdings Limited is a comprehensive underground utilities infrastructure provider in Singapore. The group offers a full suite of services including:

• Underground utilities infrastructure construction and maintenance
• Sewer pipeline rehabilitation
• Road and airfield construction and maintenance
• Asphalt pre-mix production
• Construction waste recycling

Technical Analysis: Strong and Sturdy Bullish Momentum

Ley Choon Group Holdings is firmly in a bullish uptrend, supported by a suite of positive technical signals. The stock’s price action points to continued strength, with a recent bullish breakout above a pennant formation indicating further upside potential.

Key Technical Observations

• Sturdy Uptrend: The uptrend remains intact and robust, with a bullish breakout above the pennant pattern signaling further continuation.
• Ichimoku Cloud: The stock closed above all Ichimoku indicators, reinforcing a healthy bullish outlook.
• MACD: The MACD signal and line are both climbing steadily above the zero line, with a positive histogram, indicating strong momentum and a potential reversal upwards.
• Stochastic Oscillator: The oscillator is rising steadily, confirming bullish momentum and a recent oversold crossover signal.
• Rate of Change (ROC): The 23-period ROC is positive and trending upwards.
• Directional Movement Index: Indicates consistent bullish strength.
• Volume: Healthy volume expansion supports the uptrend.

Comprehensive Risk and Disclaimer Overview

This research is produced for informational purposes and is intended for circulation among clients of CGS International. The report does not constitute an offer or solicitation to buy or sell securities, nor does it account for individual investment objectives or financial situations. All data and projections are based on reliable sources and methodologies as of the date of publication, but future outcomes are not guaranteed. Investors are urged to conduct independent evaluations and consult with professional advisers before making investment decisions. The securities discussed may not be suitable for sale in all jurisdictions or to all investor categories.

Global Distribution and Regulatory Notes

This research is distributed by various regulated entities under CGS International in Hong Kong, Indonesia, Malaysia, Singapore, South Korea, Thailand, and other key markets. Distribution is subject to local regulations, and restrictions may apply to different investor classes and jurisdictions. The research may also be shared with eligible institutional and wholesale clients in Australia, Canada, China, Europe, the US, and elsewhere, each with specific disclaimers and compliance requirements. Investors should be aware of the distribution limitations and seek clarification regarding their eligibility.

Stock Rating and Recommendation Framework

Total expected return is the sum of the target price change and the forward net dividend yield, with a 12-month investment horizon.

Stock Ratings Distribution (as of June 30, 2025)

Total companies under coverage for the quarter ended June 30, 2025: 561

Conclusion

Ley Choon Group Holdings Ltd stands out in Singapore’s stock market with a compelling bullish technical setup and is well-positioned within the thriving infrastructure sector. Global market sentiment remains robust, epitomized by Nvidia’s historic \$4 trillion valuation and China’s proactive economic reforms. Investors should remain vigilant and well-informed, leveraging comprehensive technical and fundamental analysis to navigate the evolving landscape.