🚀 EVs to AI: Asia’s Bold Bets From City Energy to Singtel, While China Surprises With Export Power
SGX:U96.SI:City Energy
City Energy Accelerates Seamless EV Charging Rollout in Singapore & Malaysia
City Energy’s EV arm, Go by City Energy, has introduced over 200 AutoCharge-enabled EV charging points across Singapore and Malaysia. Once drivers register on the City Energy Go app using their VIN and complete the first charging session, future sessions require no app interaction. In Malaysia, the rollout is in collaboration with JomCharge (operated by Malaysian EV Connection). City Energy aims to invest over $100 million in charging infrastructure by 2030.
SGX:Z74.SI:Singtel
US:AMZN:Amazon Web Services
US:MSFT:Microsoft
TW:2412.TW:Chunghwa Telecom
PH:GLO:Globe Telecom
KL:4863.KL:Telekom Malaysia
Singtel-Led Consortium to Build New Subsea Cable Linking Asia
Singtel and major tech partners including Amazon Web Services, Microsoft, Chunghwa Telecom, Globe Telecom, Telekom Malaysia and others have partnered NEC Corporation to build the 8,900 km Asia United Gateway East (AUG East) cable. Connecting Singapore and Japan with regional hubs, it’s designed to support booming AI traffic and bolster digital resilience. Completion is slated for 3Q2029.
SGX:Z74.SI:Singtel
PH:GLO:Globe Telecom
AU:OPTUS:Optus (unlisted)
KL:4863.KL:Telekom Malaysia
Singtel’s Growth Engines NCS & Nxera Expand AI & Data Ambitions
Singtel’s NCS is investing $130 million over three years to drive AI adoption across Asia Pacific. It has expanded with key projects in Australia, China, and Southeast Asia, including a 1,200-person joint venture with Globe Telecom. Nxera, its data centre unit, is scaling fast with new sites in Thailand, Singapore and Johor Bahru. Analysts expect Nxera to double its EBITDA by 2028, supported by data demand and strategic partnerships.
SGX:F03.SI:Food Empire Holdings
Food Empire Target Price Raised Amid Instant Coffee Boom in Russia & Vietnam
UOB Kay Hian’s John Cheong raised Food Empire’s target price from $1.98 to $2.40. The company, dominant in Russia and Kazakhstan and among the top three in Vietnam’s instant coffee segment, is benefiting from falling coffee bean prices and ruble strength. Analysts cite brand strength, market expansion, and recent production capacity boosts. Despite a one-off US$20 mil REN-related loss in 1H25, the outlook remains positive.
SGX:S68.SI:Singapore Exchange (SGX)
SGX:Z74.SI:Singtel
ST Engineering & Singapore Power Sell SPTel to Seraya Partners for $290M
SGX-listed ST Engineering and Singapore Power have agreed to sell their broadband joint venture, SPTel, to Seraya Partners for an enterprise value of $290 million. ST Engineering expects a one-off gain of around $80 million. The sale allows SPTel to scale under a digital infrastructure-focused investor.
SGX:BUOU.SI:Frasers Logistics & Commercial Trust (FLCT)
FLCT Divests Melbourne Office Asset to Rebalance Toward Logistics
FLCT is selling its 357 Collins Street property in Melbourne for A$195.3 million. The exit improves portfolio occupancy to 95.2% and extends WALE to 4.8 years. The deal is expected to reduce gearing by 1.5 percentage points and boost FLCT’s focus on logistics & industrial assets.
SGX:T61.SI:ST Engineering
ST Engineering Continues Divestment Spree With SPTel Exit
Following its announcement to divest US-based Leeboy for US$290 million, ST Engineering now exits SPTel. The SPTel deal and Leeboy sale underscore ST Engineering’s continued portfolio streamlining and capital unlocking.
SGX:T61.SI:ST Engineering
ST Engineering Is STI’s Best Performer With Nearly 80% YTD Gain
Shares of ST Engineering closed at $8.34 on July 16, up 0.12%, with the company emerging as the best-performing STI constituent so far this year.
SGX:T6I.SI:ValueMax
ValueMax Seen as Proxy for Soaring Gold Prices
RHB’s Alfie Yeo sees SGX-listed ValueMax as a strong proxy for gold price growth, with correlation to loan demand and revenue from its pawn and gold trading segments. With gold projected to reach US$3,450/oz by 2Q2026, ValueMax’s expansion and customer base growth are expected to translate into higher net interest income. Yeo sees upside potential in a high gold price environment.
HK:00001.HK:CK Hutchison
HK:3115.HK:Hang Seng Index
Shanghai Index Rallies With Confidence Amid China’s Record Trade Surplus
China’s exports rose 5.8% in 1H2025, driving a US$586 billion surplus. The Shanghai Index is up 15% YTD, reflecting confidence in China’s economy and flexibility in pivoting exports. ASEAN-bound exports rose 17% y-o-y, while domestic self-sufficiency efforts support dual circulation goals. China’s Belt and Road Initiative and Global South outreach enhance trade resilience amid global tariff uncertainties.
US:QQQ:Nasdaq Composite
US:DGT:Dow Jones Industrial Average
SGX:S27.SI:S&P 500
Trump Softens China Stance to Secure Summit, Trade Win
US President Donald Trump has eased his rhetoric toward China, seeking a new trade pact with President Xi. Moves include allowing Nvidia’s sale of H20 chips to China, a reversal of prior restrictions. While critics fear national security may be compromised, others argue market access and competitiveness in AI justify the shift. Trump may delay a sharp tariff hike set for August 12, extending the truce by three months.
US:NVDA:Nvidia
Nvidia’s China Chip Deal Sparks Debate in Trump Administration
Trump officials are split over allowing Nvidia’s H20 chip sales to China. While some see it as a security compromise, others — including Nvidia CEO Jensen Huang — argue it helps the US maintain AI leadership by embedding its tech in China’s development stack. The debate highlights fluidity in US-China trade and tech policies.
🔔 Trump Eyes Major Trade Deals with India & EU; HSI Boosted by Pharma & Chip Rallies 🔔
US:QQQ:Nasdaq Composite
US:DGT:Dow Jones Industrial Average
SGX:S27.SI:S&P 500
Trump: US Close to Trade Deal with India, EU Deal Possible
US President Donald Trump told Real America’s Voice that the US is nearing a trade deal with India. A potential deal with the EU may also follow. However, Trump said it’s premature to comment on Canada.
HK:3115.HK:Hang Seng Index
3COINS Expansion in Hong Kong Depends on Causeway Bay Store
Japanese lifestyle brand 3COINS, under the YAICHI Group, has launched its first Hong Kong outlet in Causeway Bay with an eight-figure investment. Founder Elmas Lou said additional locations in Kowloon or the New Territories depend on this store’s performance.
Citi: GPO Round 11 Shows Official Support, Mild Price Cuts Expected
China’s NHSA launched the 11th Group Purchasing Organization (GPO) round, covering 55 generic drugs. Citi said the move reflects support for innovation and rational pricing. No innovative drugs were included.
HK:07766.HK:XL2CSOPTSLA
HK:09766.HK:XL2CSOPTSLA-U
HK:09046.HK:CAM ETH-U
HK:83046.HK:CAM ETH-R
HK:09179.HK:HGI ETH-U
Top ETF Gainer: XL2CSOPTSLA Soars 7.9%
Among ETFs, XL2CSOPTSLA (07766.HK) led the gains, rising 7.9% to HK$101.6. XL2CSOPTSLA-U (09766.HK) rose 6.3%, followed by CAM ETH-U, CAM ETH-R, and HGI ETH-U, all climbing over 5%.
HK:3115.HK:Hang Seng Index
HK:09618.HK:JD-SW
Hangseng Index Up 17 Points at Midday; Chips & Pharma Stocks Rally
The Hang Seng Index rose 17 points to 24,534. The HSTECH gained 15 points to 5,434. JD-SW (09618.HK) dipped 0.6% following updates from JD Food Delivery on its late-delivery policy.
JPM: Greater Transparency in GPO Round to Help Pharma Firms
J.P. Morgan noted that increased clarity in China’s 11th round of Volume-Based Procurement (VBP) could ease pressure on pharmaceutical companies over time.
HKO May Issue Strong Wind Signal No. 3 on Saturday
Hong Kong Observatory (HKO) announced that it may issue the Strong Wind Signal No. 3 on Saturday due to expected weather conditions.
Some Major HK Banks Discussing Bad Bank Setup: Report
Several major banks in Hong Kong are reportedly discussing forming a “bad bank” to manage non-performing assets, according to Wire.
China Resources Logistics’ LME Warehouse Now Operational
China Resources Logistics has launched its London Metal Exchange (LME)-certified warehouse in China, aiming to strengthen its commodities logistics services.
HK:3115.HK:Hang Seng Index
Midday Movers: BEIGENE Surges Over 8%; Multiple Stocks Hit New Highs
The HSI closed midday at 24,534 (+17 pts), HSTECH at 5,434 (+15 pts). BEIGENE jumped over 8%, while HANSOH PHARMA, CHINAHONGQIAO, JOHNSON ELEC H, and KEYMED BIO-B all reached new highs.
Citi Forecasts HSI at 25,000 by End-2025; 26,000 by Mid-2026
Citi set the Hang Seng Index year-end 2025 target at 25,000 and mid-2026 target at 26,000, urging investors to overweight Internet, Tech, and Consumer sectors.
HK:2020.HK:ANTA SPORTS
CMBI Trims ANTA SPORTS Target Price to HKD111.54
CMBI lowered ANTA SPORTS (2020.HK)’s target price after its second-quarter retail sales slightly missed expectations.
HK:1177.HK:SINO BIOPHARM
CICC Raises SINO BIOPHARM TP to HK$7.6 After LaNova Deal
CICC upgraded SINO BIOPHARM (1177.HK)’s target to HK$7.6, citing its acquisition of LaNova Medicines as a strategic step into the innovative drug market.
🚀 Market Movers: POP MART Target Raised, Li Auto Launches i8, and Wall Street Eyes STANCHART’s Crypto Move 🚀
HK:2015.HK:Li Auto
Li Auto i8 Opens for Pre-order, Priced Between RMB350K–400K
Li Auto (HK:2015.HK:Li Auto) launched pre-orders for its Li i8 with a price range of RMB350,000 to RMB400,000, expanding its premium EV lineup in China.
oil:US:UCO
HK:0857.HK:PETROCHINA
BofA Securities Lifts Oil Forecast, Ups PETROCHINA Target to HKD8
BofAS raised its oil price outlook and increased the target price for PETROCHINA (HK:0857.HK:PETROCHINA) to HKD8, signaling bullish sentiment on energy.
HK:0003.HK:HK & CHINA GAS
HK:1038.HK:CKI HOLDINGS
HK:0006.HK:POWER ASSETS
Daiwa Warns HK & CHINA GAS May Miss China Sales Target, Reaffirms CKI & POWER ASSETS as Utility Picks
Daiwa expects HK & CHINA GAS (HK:0003.HK:HK & CHINA GAS) to underperform in China gas sales but maintains CKI HOLDINGS (HK:1038.HK:CKI HOLDINGS) and POWER ASSETS (HK:0006.HK:POWER ASSETS) as top utility stock picks.
US:BTC:Bitcoin
US:ETH:Ethereum
HK:2888.HK:STANCHART
J.P. Morgan: STANCHART Offering Bitcoin & Ethereum Trading May Re-rate Stock
STANCHART (HK:2888.HK:STANCHART)’s move to offer institutional trading in Bitcoin and Ethereum could enhance valuation, said J.P. Morgan.
HK:9888.HK:BIDU-SW
Jefferies Lowers BIDU-SW TP to USD107 Despite 25% Cloud Revenue Growth Forecast
Jefferies expects 25% YoY growth in cloud revenue for BIDU-SW (HK:9888.HK:BIDU-SW) in Q2 but cut its target price to USD107.
HK:6881.HK:FUDANZHANGJIANG
FUDANZHANGJIANG Surges 30%+ to 4-Year High on Strong Volume
FUDANZHANGJIANG (HK:6881.HK:FUDANZHANGJIANG) rocketed over 30% to a 4-year high amid a spike in trading volume.
HK:9992.HK:POP MART
POP MART Target Price Raised Repeatedly by Brokers Amid Strong Growth
Haitong Int’l, HTSC, and CICC all raised POP MART (HK:9992.HK:POP MART)’s target price to HKD316.7, HKD348, and HKD330 respectively, citing strong momentum.
HK:179.HK:JOHNSON ELEC H
JOHNSON ELEC H Jumps 13%+ After Establishing Two Robotics Joint Ventures
JOHNSON ELEC H (HK:179.HK:JOHNSON ELEC H) soared over 13% after announcing two humanoid robotics joint ventures.
HK:9888.HK:BIDU-SW
Citi: AI Search Poses Larger-Than-Expected Threat to Baidu’s Ad Revenue
Citi warned that BIDU-SW (HK:9888.HK:BIDU-SW)’s advertising revenue could be more negatively impacted by AI search disruption than previously anticipated.
HK:2020.HK:ANTA SPORTS
CCBI Lifts ANTA SPORTS TP to HKD106 After Solid Q2 Sales
CCBI raised ANTA SPORTS (HK:2020.HK:ANTA SPORTS)’s target price to HKD106, citing in-line second-quarter retail performance.
HK:0780.HK:TONGCHENGTRAVEL
UBS Boosts TONGCHENGTRAVEL TP to HKD25.5, Forecasts 12.6% Core OTA Growth
UBS expects TONGCHENGTRAVEL (HK:0780.HK:TONGCHENGTRAVEL) to grow its core OTA revenue by 12.6% YoY in Q2 and lifted its target price to HKD25.5.
HK:9999.HK:NTES-S
Nomura Ups NTES-S Target to USD242 on Expanding Profit Margins
Nomura raised NTES-S (HK:9999.HK:NTES-S)’s target price to USD242, citing continued improvement in profit margins.
HK:0388.HK:HKEX
UBS Raises HKEX TP to HKD430, Keeps Neutral Rating
UBS revised HKEX (HK:0388.HK:HKEX)’s target to HKD430 while maintaining a neutral outlook.
HK:0753.HK:AIR CHINA
HK:0670.HK:CHINA EAST AIR
UBS Flags Downside Risk in Airline Ticket Prices, Keeps Sell Ratings
UBS maintained “Sell” ratings on AIR CHINA (HK:0753.HK:AIR CHINA) and CHINA EAST AIR (HK:0670.HK:CHINA EAST AIR), citing risks of lower ticket pricing in H2.
HK:0019.HK:SWIRE PACIFIC A
UBS Upgrades SWIRE PACIFIC A to Neutral, Sets TP at HKD75
UBS upgraded SWIRE PACIFIC A (HK:0019.HK:SWIRE PACIFIC A) to Neutral with a new target of HKD75.
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