US:DGT:Dow Jones Industrial Average
Dow Jones Industrial Average futures slipped 27 points, or 0.05%, as investors awaited a heavy week of tech earnings and monitored tariff deadlines reaffirmed by Commerce Secretary Howard Lutnick. The index ended last week slightly lower despite broader market gains.
SGX:S27.SI:S&P 500
S&P 500 futures dipped 0.04% Sunday night, even as the benchmark closed last week at a record high, rising 0.6%. The market is supported by strong earnings, with 86% of 59 reporting S&P 500 companies surpassing expectations ahead of results from Alphabet, Tesla, Verizon Communications, and Domino’s Pizza.
US:QQQ:Nasdaq Composite
Nasdaq 100 futures fell 0.03% after the index climbed 1.5% to end last week at record highs. The upcoming earnings from Alphabet and Tesla — part of the “Magnificent Seven” — are expected to be key drivers for the tech-heavy index.
SGX:OU8.SI:Centurion Corporation
Centurion Corporation is expanding its premium student accommodation footprint with the launch of its upscale brand Epiisod, debuting its first property in Macquarie Park, Sydney. The 732-bed facility, featuring 79% studio units and 21% cluster apartments, will welcome students in February 2026. Registrations begin July 15, 2025.
The project will be part of Centurion Accommodation REIT, which recently applied for a Singapore Exchange listing. The REIT’s initial $1.84 billion portfolio will include 14 assets — five purpose-built worker accommodations (PBWAs) in Singapore, eight purpose-built student accommodations (PBSAs) in the UK, and one PBSA in Australia — growing to $2.12 billion with Epiisod Macquarie Park post-listing.
Centurion plans four additional Epiisod properties in Australia (two in Melbourne, two in Perth) while maintaining its functional “Dwell” brand for affordable student housing. CEO Kong Chee Min highlighted PBSAs’ resilience and long land tenures, noting the REIT offers a unique asset mix not common among Singapore-listed REITs.
The group will retain a 35–40% stake in the REIT post-dividend in specie, rewarding shareholders while preserving its asset-light growth strategy.
Joint chairman David Loh emphasized the brand’s “home away from home” approach, shaped by his experience placing his own children in accommodations across the UK, Australia, Switzerland, and Ireland. Epiisod will cater to students seeking connection, comfort, and premium amenities — offering far “more than just a bed and a desk.”
Trump’s Trade U-Turn Boosts Nvidia, AMD Sales to China; Wall Street Shrugs Off Earnings Surge; Centurion and Amara Reshape Singapore Market
SGX:BCV.SI:Qian Hu Corporation
Qian Hu Corporation posted an 87.7% y-o-y earnings plunge to $31,000 for 1HFY2025, citing rising costs, geopolitical tensions, and cautious overseas demand. Revenue slipped 0.2% to $35.1 million, with fish segment sales up 5.3% while accessories and plastics segments dropped 3.9% and 4.4% respectively. The group expects profitability to hold in 2HFY2025 barring further disruptions.
SGX:C09.SI:City Developments (CDL)
City Developments (CDL) had its target price cut by Citi Singapore to $9.01 from $9.51, following recent property divestments and revised sales timelines. Analyst Brandon Lee maintained a “buy” rating, projecting FY2025/2026 core PATMI at $434.6 million and $535 million, but flagged risks including weak residential take-up, new cooling measures, and global economic uncertainty.
HK:01888.HK:KB Laminates
Citi reported that the parent company of KB Laminates has trimmed its stake, warning the share price may face short-term pressure.
US:TSM:Taiwan Semiconductor Manufacturing Company (TSMC)
Goldman Sachs lifted its target price for TSMC to TWD1,370 after the company’s second-quarter results exceeded forecasts, underscoring continued chip sector momentum.
HongKong:3115.HK:Hang Seng Index
The Hang Seng Index rose 177 points at midday, buoyed by rallies in Alibaba (BABA-W) and JD.com (JD-SW), while CHINA LIFE, CHINAHONGQIAO, WH GROUP, J&T EXPRESS-W, WUXI APPTEC, and HANSOH PHARMA hit new highs, despite volatility in stablecoin-linked stocks.
Tencent Stake Sale, HSBC Restructure, and GWMOTOR Profit Drop Highlight Busy Hong Kong Market Day
HK:00700.HK:Tencent
Prosus trimmed its stake in Tencent by 371,000 shares, cashing out around US$191.5 million at an average price of HK$516.08 per share. The move lowers Prosus’s holding to 22.99%, according to Hong Kong exchange filings.
HK:00005.HK:HSBC Holdings
HSBC Holdings is disbanding its geopolitical risk management team, affecting fewer than 10 roles across Asia and Europe, Bloomberg reported. Impacted employees can seek other roles within the bank. HSBC will also hold a board meeting on July 30 to discuss interim results and a second dividend.
HK:02333.HK:GWMOTOR
GWMOTOR posted a 10.2% year-on-year drop in net profit to RMB6.34 billion for the first half of 2025, despite a 1% revenue increase to RMB92.37 billion. Earnings per share came in at RMB0.74.
HongKong:3115.HK:Hang Seng Index
The Hang Seng Index climbed 326 points as Alibaba (BABA), JD.com (JD), and CATL led gains. Market turnover rose, with HANSOH PHARMA, NONGFU SPRING, CHINAHONGQIAO, J&T EXPRESS-W, and WH GROUP all hitting new highs.
US:GOOGL:Alphabet
Analysts expect Alphabet, part of the “Magnificent Seven,” to drive Q2 earnings growth of 14%, far outpacing the 3.4% forecast for other S&P 500 companies, according to FactSet’s John Butters. Siebert Financial’s Mark Malek noted that market highs depend on avoiding earnings disappointments.
US:TSLA:Tesla
Tesla is among the “Magnificent Seven” expected to post strong Q2 earnings, with analysts projecting 14% growth for the group, compared to 3.4% for the broader S&P 500, FactSet data shows. Siebert Financial’s Mark Malek highlighted that continued market momentum hinges on positive results.
US:VZ:Verizon Communications
Verizon, part of upcoming Q2 earnings releases, is in focus as analysts expect the “Magnificent Seven” tech-driven group to report 14% earnings growth, versus 3.4% for the rest of the S&P 500. Siebert Financial’s Mark Malek emphasized the importance of these results in sustaining market highs.
US:DPZ:Domino’s Pizza
Domino’s Pizza, reporting alongside tech heavyweights, is part of a pivotal Q2 earnings week where the “Magnificent Seven” are forecast to deliver 14% growth, outpacing 3.4% for the remaining S&P 500 companies, FactSet reports. Siebert Financial’s Mark Malek warned that major misses could stall market momentum.
US:NVDA:Nvidia Corp
The White House has cleared Nvidia to resume sales of its China-focused H20 AI chips, despite previous export controls. Commerce Secretary Howard Lutnick said the move keeps Chinese developers reliant on U.S. tech while withholding advanced designs. The decision has sparked criticism from China hawks as President Donald Trump signals trade flexibility.
US:AMD:Advanced Micro Devices Inc
Advanced Micro Devices will also be allowed to restart sales of its H20 AI chips to China under eased U.S. export restrictions. Commerce Secretary Howard Lutnick said the aim is to maintain U.S. leverage by keeping Chinese firms dependent on American technology, while withholding top-tier products. The policy shift comes as Trump seeks to ease trade tensions ahead of a meeting with President Xi Jinping.
SGX:I9E.SI:Amara Holdings
Amara Holdings will be delisted from the Singapore Exchange on July 21 after being fully acquired by DRC Investments for $514.6 million at 89.5 cents per share.
SGX:W05.SI:Wing Tai Holdings
Wing Tai Holdings is part of the DRC Investments consortium that completed the $514.6 million takeover of Amara Holdings, leading to Amara’s delisting from the Singapore Exchange mainboard on July 21.
SGX:H19.SI:Hwa Hong Corp
Hwa Hong Corp, alongside Wing Tai Holdings and the Teo family, is part of DRC Investments, which has completed the acquisition of Amara Holdings. Amara will be delisted from the Singapore Exchange on July 21 following the $514.6 million deal.
HK:03690.HK:Meituan-W
Meituan-W reportedly spent heavily, along with Alibaba, shelling out about RMB1.6 billion during a “Crazy Saturday” promotion to intensify competition in the e-commerce market.
HK:09988.HK:Alibaba (BABA-W)
Alibaba joined Meituan-W in reportedly spending RMB1.6 billion on a “Crazy Saturday” campaign, highlighting escalating rivalry in China’s online retail sector.
HK:01816.HK:CGN Power
JPMorgan downgraded CGN Power to “Neutral,” citing sector challenges, while adjusting its outlook across China’s renewable energy space.
HK:01798.HK:Datang Renewables
JPMorgan raised its target price for Datang Renewables as part of a sector review, despite downgrading CGN Power, reflecting varied growth prospects in the renewables market.
HK:02208.HK:Goldwind
Goldwind saw its target price increased by JPMorgan, which highlighted growth potential in the renewables sector even as CGN Power faced a downgrade.
HK:00916.HK:China Longyuan Power
China Longyuan Power also received a target price upgrade from JPMorgan, joining Goldwind and Datang Renewables as beneficiaries of a positive sector outlook despite CGN Power’s downgrade.
US:NFLX:Netflix Inc
Netflix exceeded expectations across all metrics but saw its stock tumble over 5%, reflecting investors’ cautious stance despite strong earnings results.
US:UAL:United Airlines Holdings Inc
United Airlines reported upbeat travel demand, contributing to the broader trend of resilient consumer spending, though market reactions remained subdued.
US:PEP:PepsiCo Inc
PepsiCo delivered strong results with growth in North America and international markets, bucking the muted market response seen across many sectors.
US:LEVI:Levi Strauss & Co
Levi Strauss projected sales growth strong enough to offset tariff impacts, helping its shares gain even as broader market sentiment stayed cautious.
US:DAL:Delta Air Lines Inc
Delta Air Lines posted robust earnings and saw its stock climb, standing out among consumer-focused companies that benefited from resilient U.S. travel demand.
US:GS:Goldman Sachs Group Inc
Goldman Sachs recorded the largest equity trading revenue haul in Wall Street history, yet its shares rose less than 1% as results were largely priced in.
US:MS:Morgan Stanley
Morgan Stanley topped net revenue estimates, but its shares closed down 1.3%, underscoring muted investor enthusiasm despite strong trading results.
US:JPM:JPMorgan Chase & Co
JPMorgan posted record second-quarter trading results, with fixed-income trading beating expectations, though its stock slipped 0.7% post-earnings.
US:HON:Honeywell International Inc
Honeywell is set to report Q2 earnings next week, with investors closely watching for guidance amid tariff, inflation, and Fed policy uncertainties.
US:DOW:Dow Inc
Dow will announce earnings next week, with results expected to provide insight into industrial sector performance under global trade and inflation pressures.
US:LMT:Lockheed Martin Corp
Lockheed Martin’s upcoming earnings report is poised to test defense sector resilience as markets gauge demand and margin pressures amid geopolitical tensions.
US:NOC:Northrop Grumman Corp
Northrop Grumman’s results, due next week, will be key for defense investors seeking clarity on order growth and profitability under current economic headwinds.
US:GM:General Motors Co
General Motors will soon release its Q2 earnings, with markets monitoring how the automaker navigates tariffs and supply chain disruptions while sustaining demand.
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