🔥 Wall Street Soars on Soft Inflation as Stocks, Crypto, and Corporate Movers Steal the Spotlight
US:S27.SI:S&P 500
S&P 500 hit a record close, rising 1.13% to 6,445.76 after July CPI rose 2.7% vs 2.8% forecast, boosting odds of a September Fed rate cut to 94%.
US:QQQ:Nasdaq Composite
Nasdaq gained 1.39% to 21,681.90, with tech leading the rally as cooling inflation eased tariff fears.
US:DGT:Dow Jones Industrial Average
Dow added 483.52 points (+1.10%) to 44,458.61, riding broad market optimism over rate cut hopes.
US:RUT:Russell 2000
Small-cap Russell 2000 jumped 2.7%, seen as a major beneficiary of lower borrowing costs.
US:TSLA:Tesla
Guggenheim kept a sell rating ahead of Austin Robotaxi launch next month, price target $175 implies 48% downside. Shares edged up <1%.
US:CAVA:Cava
Shares plunged 22% after weak Q2 revenue and lowered full-year same-store sales forecast.
US:CORE:CoreWeave
Dropped 9% post-market despite strong revenue, as mixed quarterly results disappointed investors.
US:ETH:Ethereum
Ether surged 7% to $4,578.73, nearing its Nov 2021 record of $4,866.01 on strong ETF and treasury inflows after CPI data.
US:ASTS:AST SpaceMobile
Jumped 11% after announcing plans for 45–60 satellite launches by 2026, with at least five by Q1 next year.
US:MRCY:Mercury Systems
Soared 24% after Q4 earnings and revenue beat estimates, posting $273.1M revenue vs $244M expected.
US:HI:Hillenbrand
Rose 15% on better-than-expected Q3 results and a higher earnings outlook.
US:SONO:Sonos
Climbed 12% after CEO Thomas Conrad bought 92,300 shares.
US:CAH:Cardinal Health
Fell 6% on mixed Q4 results, with earnings beating but revenue missing forecasts.
US:HBI:Hanesbrands
Soared 25% on reports of a near $5B buyout by US:GIL:Gildan Activewear, whose shares fell 5%.
US:SBGI:Sinclair
Gained 16% after launching a strategic review that could lead to a merger or Ventures spinoff.
US:ONON:On Holding AG
U.S. shares surged 8% after Q2 revenue beat forecasts and full-year guidance was raised.
US:CE:Celanese
Tumbled 11% despite an earnings beat, as CEO warned of weak demand ahead.
US:BBAI:BigBear.ai
Plunged 23% on a worse-than-expected Q2 loss of 71 cents per share and revenue miss.
US:CRCL:Circle Internet Group
Gained 4% after posting strong revenue growth in its first quarter as a public company.
US:INTC:Intel
Rose 3% after President Trump praised CEO Lip-Bu Tan days after calling for his resignation.
🏙️ Mega Deals, Profits & Power Moves: Asia’s Corporate Headlines Heat Up
SGX:C38U.SI:CapitaLand Investment
CapitaLand Investment signed an MOU with the Maharashtra Government to invest US$2.83B by 2030 in Mumbai and Pune, targeting business parks, data centres, logistics, and industrial parks. In India, the firm aims to grow its funds under management from US$8B to US$15B by 2028. Current assets include five business parks in Maharashtra, four via CapitaLand India Trust (SGX:CY6U.SI:CapitaLand India Trust), with new data centres, logistics parks, and a 17M sq ft pipeline under Ascendas-Firstspace.
SGX:F83.SI:Cosco Shipping International (Singapore)
1HFY2025 earnings rose 15% y-o-y to S$2.63M on stronger logistics, ship repair, and marine engineering revenue. Total sales climbed 11% to S$91M. Logistics contributed 89% of revenue, up 12% y-o-y. Gains offset by lower property management income and reduced contributions from associates including COSCO SHIPPING Bulk SEA, PT. Ocean Global Shipping Logistics, SINOVNL, and Goldlead Supply Chain.
SGX:KUO.SI:International Cement Group
1HFY2025 earnings surged to $14.9M from $933K, with revenue up 51% to $165.1M, driven by Kazakhstan operations and new Korcem plant output. Tajikistan’s Mohir plant sales rose 36% y-o-y. Gross margin hit 36%, supported by higher prices and strong demand from Chinese infrastructure projects. FX gains of $10.5M boosted results.
Late last year, this column predicted that SGX:G13.SI:Genting Singapore would see stronger profitability in 2025, sparking a rebound in its beaten-down share price. So far, that call has been off the mark.
Asian Pay Television Trust Q2 2025 Financial Results: 0.525 Cents Interim Dividend Declared, Full Year Guidance Reaffirmed at 1.05 Cents per Unit
Kim Heng: Revenue Growth: 1H2025 revenue rose by 21% year-over-year, driven by increased contributions from vessel trading (+S\$6.7M), shipbuilding contracts (+S\$6.5M), and material sales (+S\$3.9M). This was partly offset by declines in chartering/towage and marine support services.
Profitability: Net profit more than tripled (+203% YoY) despite a near-flat gross profit, reflecting lower administrative expenses and higher other income.
Singtel Delivers Robust Q1FY26 Results: Profit Surges, Optus Shines, and Major Airtel Divestment Unlocked S\$2B
From Jan 1 to Aug 8, Genting Singapore’s total return was under 0.1%, making it the sixth-worst performer in the Straits Times Index, which gained over 15.5% in the same period.
The company’s H1 2025 results, released Aug 7, triggered earnings forecast cuts and even prompted warnings that the stock could be dropped from the MSCI Singapore Index.
Despite the weak showing, some of the original bullish arguments remain. Revenue and earnings from Resorts World Sentosa (RWS) could improve with hotel refurbishments and new attractions under the S$6.8B “RWS 2.0” expansion. The casino’s “win rate” has recovered from last year’s slump, and valuations remain undemanding with a decent dividend yield.
OCBC called 2024 a “year of refurbishments” for RWS, expecting stronger growth from 2025.
Still, H1 2025 revenue slid 10.4% y-o-y to S$1.21B, net profit fell 34.2% to S$234.7M, and adjusted Ebitda dropped 25.8% to S$423.7M. Q2 alone saw revenue down 6.1% from Q1 and adjusted Ebitda down 20.3%.
Analysts attribute the weakness to RWS attraction closures for RWS 2.0 construction, deterring mass-market gamblers and non-gaming visitors. CGS International believes this allowed rival Marina Bay Sands to gain market share.
The outlook could brighten as works wrap up. Last month, RWS opened the Weave mall and the new Singapore Oceanarium, with The Laurus hotel to follow. OCBC says the phased RWS 2.0 rollout from H2 2025 could lift revenue, margins, and market share.
Risks remain. Visitor arrivals in H1 2025 were 8.3M — up just 1.9% y-o-y and slightly down from H2 2024. In Nov 2024, RWS’ casino licence renewal was cut to two years after regulators deemed its tourism performance unsatisfactory.
Even so, analysts are not universally bearish. CGS kept its “add” rating but trimmed its earnings forecasts for 2025–2027 by up to 13%, cutting its target price to S$0.835 from S$1.05. OCBC maintained “buy” but reduced its target to S$0.96 from S$1.03. Maybank lowered its 2025 earnings forecast by 16% but sees the hit from construction as temporary, shaving its target to S$1.00 from S$1.01.
Genting Singapore closed at S$0.735 on Aug 12, unchanged. Based on the 2024 dividend of S$0.04 per share, the yield stands at 5.4%. The stock will trade ex-dividend for its H1 2025 payout of S$0.02 on Aug 27.
KL:2836.KL:Carlsberg Brewery Malaysia
2QFY2025 net profit rose 3.2% y-o-y to RM81.93M, aided by Sri Lankan associate contributions and lower tax. Revenue dipped 3.4% to RM490.17M. A 20 sen dividend declared. Beer prices to rise in September to offset costs, with flat sales expected this year.
KL:5176.KL:Sunway Real Estate Investment Trust
2QFY2025 net property income jumped 19.8% y-o-y to RM154.9M on new assets and enhancements. Revenue rose 20.4% to RM211.4M. Declared DPU of 5.68 sen, payable Sept 10.
KL:5916.KL:Malaysia Smelting Corp
2QFY2025 net profit fell 16.6% y-o-y to RM13.95M on lower tin prices and sales. Revenue dropped 7.75% to RM378.96M. Declared four sen interim dividend.
KL:7131.KL:UMS Integration
2QFY2025 net profit rose 10.1% y-o-y to S$10.26M as semiconductor segment gains outweighed aerospace weakness. Revenue climbed 20.4% to S$67.35M. Declared one Singapore cent interim dividend.
KL:7595.KL:MGB
Secured RM185.99M contract for serviced apartments in Johor’s Iskandar Puteri, comprising 802 units across two towers.
KL:6742.KL:YTL Power International
Launched Ilmu, Malaysia’s first homegrown LLM, capable of Bahasa Melayu, Manglish, and dialects. Part of over RM20B AI investments, including a 500MW green data centre and Nvidia-powered supercomputer.
KL:7034.KL:Thong Guan Industries
Chairman Tengku Sarafudin Badlishah to step down Aug 25 after nine years.
KL:7140.KL:Classita Holdings
Unit Caely (M) sued Koperasi Felcra to recover RM9.47M for completed Perak housing project.
KL:0270.KL:NationGate Holdings
EPF cut stake to 4.909% after selling 3.75M shares on Aug 8, falling below substantial shareholder threshold.
⛽ Oil Slips as Traders Eye Demand Drop, Production Outlooks, and Geopolitical Talks
oil:US:UCO
Brent crude fell 0.77% to US$66.12 a barrel, while US West Texas Intermediate slid 1.24% to US$63.17, as traders awaited US Energy Information Administration inventory data and factored in seasonal demand declines post-summer. Analyst John Kilduff noted diesel demand is softening.
oil:US:UCO
Opec’s monthly report maintained its 2025 demand growth forecast but lifted 2026 expectations by 100,000 bpd to 1.38M bpd. The EIA projected US crude output to hit a record 13.41M bpd in 2025, before falling to 13.28M bpd in 2026 — the first decline since 2021.
oil:US:UCO
The EIA lowered its 2025 Brent price forecast to US$51 per barrel from US$58 after Opec accelerated production increases.
US:DJT:Donald Trump
President Trump extended the US-China tariff truce to Nov 10, delaying triple-digit duties on Chinese goods.
US:DJT:Donald Trump
Trump will meet Russian President Vladimir Putin in Alaska on Friday to discuss ending the war in Ukraine. Commerzbank noted that a ceasefire could see secondary tariffs on India suspended, but failure may lead to tougher sanctions on other Russian oil buyers, including China.
Thank you
