🚀 Singapore Market Movers: Hong Leong Asia Shines, KSH Raises Cash, ISDN Expands in Renewables

SGX:H22.SI:Hong Leong Asia
Hong Leong Asia posted strong 1HFY2025 results with revenue up 25.7% y-o-y to $2.83 billion and net profit up 13.1% to $56 million, driven by its New York-listed unit US:CYD:China Yuchai International which saw a 30.8% jump in revenue. Operating profit surged 35.7% y-o-y to $138 million, while operating cash flow soared nearly eightfold to $397.5 million.

Management attributed growth to strong engine exports and surging demand for new energy products such as generator sets for data centres. The building materials segment dipped slightly, but precast volumes improved and disruptions are expected to ease by year-end.

Analysts from SGX:D05.SI:DBS Group, CGS International, and UOB Kay Hian raised their target prices to as high as $2.80 from HLA’s last close at $1.95, noting the group’s strong cash position of $749 million and potential for higher dividends.

SGX:ER0.SI:KSH Holdings
KSH Holdings raised $8.67 million via the placement of nearly 29 million treasury shares at $0.305 each, a 6.44% discount to its Aug 20 VWAP. The placement drew institutional investors such as ICH Capital, GinkoAGT Global Growth Fund, and Lion Global Investors.

The stock closed at $0.37 on Aug 21, up 10.61% for the day and 73.81% year-to-date, highlighting strong investor confidence in the construction upcycle. Evolve Capital Advisory and Maybank Securities acted as placement agents.

SGX:I07.SI:ISDN Holdings
ISDN Holdings deepened its renewable energy play by acquiring a 51% stake in PT Funda Konstruksi Engineering for $2 million. PT Funda has worked on over 70 hydropower projects across Asia, including ISDN’s own Lau Biang 1 plant, and is currently involved in more than ten projects, including Lau Biang 3.

Management said the deal strengthens ISDN’s role as a one-stop renewable energy provider in Indonesia, aligning with its long-term strategy to expand in the fast-growing hydropower sector.

📈 Malaysia Corporate Earnings Roundup: Key Winners and Laggards in 2QFY2025

KL:SEM:7-Eleven Malaysia Holdings
7-Eleven Malaysia’s 2QFY2025 net profit held flat at RM19.96 million versus RM20.5 million a year ago, weighed by higher costs. Revenue rose 7.16% y-o-y to RM805.59 million on new store openings and festive spending.

KL:BNASTRA:Binastra Corp
Binastra Corp secured a RM132 million piling contract from Exsim Lumba Kuda for a 63-storey serviced apartment project at Causewayz Square @ JBCC in Johor Bahru, slated for completion in 16 months.

KL:BIPORT:Bintulu Port Holdings
Bintulu Port’s 2QFY2025 net profit fell 13% y-o-y to RM34.74 million on weaker LNG cargoes. Revenue slipped 2.2% to RM194.82 million. A three sen dividend was declared.

KL:CITAGLB:Citaglobal
Citaglobal bagged a RM168.88 million JKR contract to upgrade 7.25km of Federal Route 3 between Kota Bharu and Kuala Terengganu into a dual carriageway.

KL:DAYANG:Dayang Enterprise Holdings
Dayang’s 2QFY2025 net profit slumped 41.7% y-o-y to RM76.64 million as vessel utilisation rates dropped due to oil majors’ contract delays. Revenue fell to RM267.35 million. A seven sen interim dividend was declared.

KL:DELEUM:Deleum
Deleum’s 2QFY2025 profit declined 12.4% y-o-y to RM19.59 million despite a 4.9% revenue rise to RM236.88 million, as forex losses hit its power and machinery unit. A four sen dividend was announced.

KL:DPHARMA:Duopharma Biotech
Duopharma’s 2QFY2025 net profit grew 21.1% y-o-y to RM20.2 million on lower costs. Revenue inched up 1.6% to RM221.78 million. A 1.5 sen dividend was declared.

KL:DLADY:Dutch Lady Milk Industries
Dutch Lady’s 2QFY2025 net profit rose 6.2% y-o-y to RM23.4 million on lower transition costs. Revenue gained 4.1% to RM375.61 million.

KL:GASMSIA:Gas Malaysia
Gas Malaysia’s 2QFY2025 net profit fell 9.9% y-o-y to RM99.12 million as selling prices dropped despite higher volumes. Revenue slipped to RM1.8 billion. A six sen dividend was declared.

KL:ITMAX:ITMAX System
ITMAX posted a 20.4% profit jump to RM23.07 million in 2QFY2025 on stronger digital infrastructure revenue. Revenue grew nearly 10% y-o-y to RM58.46 million.

KL:IVORY:Ivory Properties
Ivory Properties faces suspension from Aug 29 and de-listing on Sept 3 after Bursa Malaysia rejected its extension request to submit a regularisation plan.

KL:KGB:Kelington Group
Kelington’s 2QFY2025 net profit surged 23.3% y-o-y to RM32.89 million on better project mix, despite revenue sliding 12.2% to RM282.02 million. A 2.5 sen dividend was declared.

KL:MAGNUM:Magnum
Magnum’s 2QFY2025 profit climbed 36.7% y-o-y to RM62.13 million on lower prize payout and reduced interest expenses. Revenue fell 5.2% to RM570.76 million. A 2.5 sen dividend was declared.

KL:MATRIX:Matrix Concepts Holdings
Matrix Concepts reported a 3.7% y-o-y rise in 1QFY2025 profit to RM62.94 million, lifted by stronger property sales. Revenue grew 1.6% to RM284.28 million. A 1.75 sen dividend was declared.

KL:MAXIS:Maxis
Maxis’ 2QFY2025 profit rose 12% y-o-y to RM398 million on stronger enterprise and home services, though revenue eased slightly to RM2.56 billion. A four sen dividend was declared.

KL:MFCB:Mega First Corporation
Mega First’s 2QFY2025 net profit dropped nearly 20% to RM84.77 million as non-operating losses offset revenue gains. Revenue rose 2.4% to RM339.93 million. A 4.75 sen dividend was declared.

KL:MNHLDG:MN Holdings
MN Holdings plans to raise up to RM95.88 million via private placement, priced at RM1.418 per share, to fund working capital and equipment purchases.

KL:MPI:Malaysian Pacific Industries
MPI’s 4QFY2025 profit slumped 47.5% y-o-y to RM43.53 million without one-off gains. Revenue rose 5.85% to RM564.02 million.

KL:NCT:NCT Alliance
NCT Alliance will acquire NCT World for RM490.26 million via shares and RCPS. NCT World develops industrial parks in Selangor and Kedah.

KL:POS:Pos Malaysia
Pos Malaysia narrowed its 2QFY2025 net loss to RM45.42 million from RM55.92 million a year earlier, supported by higher courier volume and lower costs. Revenue eased slightly to RM441.57 million.

KL:PMETAL:Press Metal Aluminium Holdings
Press Metal’s 2QFY2025 profit slipped 4.4% y-o-y to RM483.58 million on higher costs, though revenue rose 5.9% to RM4.19 billion. A two sen dividend was declared.

KL:SIMEPROP:Sime Darby Property
Sime Darby Property’s 2QFY2025 profit fell 11.4% y-o-y to RM143.54 million on weaker sales and higher costs. Revenue dropped 11.7% to RM1.06 billion. Sales of RM2 billion represent 56% of its FY target. A 1.5 sen dividend was declared.

KL:SUNCON:Sunway Construction Group
Sunway Construction’s 2QFY2025 profit more than doubled y-o-y to RM83.89 million on robust data centre projects. Revenue surged 126.8% to RM1.48 billion. A 7.25 sen dividend was declared. Orderbook stood at RM6.72 billion.

KL:TAKAFUL:Syarikat Takaful Malaysia
Takaful Malaysia’s 2QFY2025 profit fell 10% y-o-y to RM83.82 million on lower fair value gains and higher taxation, though revenue edged higher to RM1.01 billion.

KL:UEMS:UEM Sunrise
UEM Sunrise’s 2QFY2025 profit rose 18.9% y-o-y to RM22.41 million on stronger JV contributions and lower finance costs. Revenue doubled to RM442.42 million.

KL:YTL:YTL Corp
YTL Corp’s 4QFY2025 profit grew 2.3% y-o-y to RM547.17 million, lifted by its cement unit. Revenue fell 6.9% to RM7.67 billion, dragged by power generation. A five sen dividend was declared.

KL:ZETRIX:Zetrix AI
The High Court allowed Zetrix AI to proceed with its judicial review against Bursa Malaysia (KL:BURSA), which earlier reprimanded the company over a misleading government approval claim.

🌏 Singapore, Hong Kong & US Jostle for Stablecoin Supremacy Amid $250B Market Boom

HK:0388.HK:HKEX
Hong Kong on Aug 1 rolled out its new regulatory regime for stablecoin issuers, seen by analysts as a move to position itself as a regulated gateway into mainland China.

SGX:D05.SI:DBS Group
SGX:U11.SI:United Overseas Bank (UOB)
SGX:Z74.SI:Singapore Telecommunications (Singtel)
Singapore finalised its Single Currency Stablecoin framework in 2023, boosting its role as a hub between Southeast Asia and the West. The Monetary Authority of Singapore (MAS) is now working on legislative amendments to formalise the framework.

US:BLK:BlackRock
BlackRock highlighted that stablecoins, now accounting for 7% of the crypto market, are becoming a key part of the financial system, with adoption rising rapidly since 2020.

US:COIN:Coinbase
Hassan Ahmed, country director of Coinbase Singapore, said a potential renminbi-backed stablecoin could be a “big catalyst” for firms to base themselves in Hong Kong, while warning of fragmentation risks under differing global regulatory regimes.

US:TRM:TRM Labs (Private)
Angela Ang of TRM Labs noted Singapore’s opt-in approach offers flexibility for issuers, while emphasising issuers must be selective in where they launch tokens due to cost and regulatory differences.

SGX:D05.SI:DBS Group
SGX:U11.SI:United Overseas Bank (UOB)
SGX:C38U.SI:CapitaLand Integrated Commercial Trust
StraitsX, issuer of the Singapore dollar-backed stablecoin XSGD, received a major payment institution licence in 2024. It holds reserves with DBS and Standard Chartered, further strengthening credibility for its stablecoin issuance.

US:DJT:Trump Media & Technology Group
US President Donald Trump signed the Genius Act in July, the first federal framework regulating stablecoins. The Act restricts issuers to regulated banks and registered firms, prohibits paying interest, and could reshape global adoption.

US:V:Visa
Visa is leveraging stablecoins for faster cross-border financial infrastructure. Its global head of growth products Rubail Birwadker said trusted and interoperable stablecoins could “fundamentally transform how money moves worldwide.”

US:MA:Mastercard
Mastercard has also embraced stablecoins for remittances and efficiency in cross-border payments, citing their speed and cost advantages.

🛢️ Oil Prices Rebound as Geopolitical Tensions and Strong US Demand Lift Market

oil:US:UCO
Brent crude rose 83 cents, or 1.2%, to settle at US$67.67 a barrel, its highest in two weeks. US West Texas Intermediate gained 81 cents, or 1.3%, to US$63.52. Both benchmarks had already risen more than 1% in the prior session.

US:DJT:Trump Media & Technology Group
Oil traders grew cautious as hopes of a swift peace deal between Russia and Ukraine faded. Moscow launched fresh air attacks near the EU border, while Kyiv claimed a strike on a Russian refinery. Both sides blamed each other for stalling talks, undercutting earlier optimism that US President Donald Trump might broker peace.

oil:US:UCO
Analysts from Ritterbusch & Associates and PVM Oil Associates noted that a “geopolitical risk premium” was returning to oil, with the possibility of tighter sanctions on Russia resurfacing.

oil:US:UCO
The rally was also underpinned by a surprise drawdown in US crude inventories. The US Energy Information Administration reported a 6 million barrel drop in the week ended Aug 15, far above analysts’ forecast of 1.8 million barrels, signaling robust demand.

oil:US:UCO
StoneX analyst Alex Hodes highlighted that the tight US stockpiles contrast with oversupply forecasts from the IEA and EIA for 2026, challenging market expectations.

US:DGT:Dow Jones Industrial Average
Traders were also eyeing the Jackson Hole economic symposium, where Fed Chair Jerome Powell’s upcoming speech could hint at a September rate cut, adding another layer of uncertainty to commodity markets.

📊 Wall Street Futures Steady as Investors Await Powell; Big Earnings & Mega Cloud Deal in Focus

US:DGT:Dow Jones Industrial Average
Dow Jones Industrial Average futures rose 50 points, or 0.1%, as traders braced for Fed Chair Jerome Powell’s Jackson Hole speech on monetary policy.

US:S27.SI:S&P 500
S&P 500 futures added 0.1%. The index closed down 0.4% earlier, marking a fifth straight day of declines and a 1.2% weekly slide so far.

US:QQQ:Nasdaq Composite
Nasdaq 100 futures rose 0.1%. The Nasdaq Composite lost 0.34% Thursday and is down 2.4% week-to-date.

US:INTU:Intuit
Intuit shares dropped nearly 6% in extended trading, despite reporting fiscal Q4 earnings of $2.75 per share on $3.83 billion revenue, beating estimates.

US:ZM:Zoom Communications
Zoom shares jumped 5% after Q2 adjusted earnings came in at $1.53 per share on $1.22 billion revenue, topping Wall Street expectations.

US:WDAY:Workday
Workday fell nearly 6% after forecasting Q3 subscription revenue of $2.24 billion, in line with estimates, and a 28% operating margin, slightly below consensus.

US:ROST:Ross Stores
Ross Stores gained 2% after Q2 EPS of $1.56 beat estimates, though revenue of $5.23 billion missed forecasts.

US:STLA:Stellantis
Stellantis’ Jeep unit is set to unveil the new Cherokee on CNBC. Shares are down 26% year-to-date and 42% over 12 months.

US:F:Ford
Ford shares are up 14% in 2025 and 4% year-on-year, though off 5% from last month’s high.

US:GM:General Motors
General Motors is up 6% this year and 21% over 12 months, though down 7.7% from November’s peak.

US:TSLA:Tesla
Tesla shares are down 20% this year but up 43% over the past 12 months, still 35% off December’s high.

JP:7203.T:Toyota Motor Corp
Toyota is up 1% in 2025 and 7% in a year, trading just 2% below its December high.

US:BKE:Buckle
Buckle, with 440 stores, reports earnings Friday. Shares gained 35% in three months but are down 4.6% from this month’s peak.

US:T:AT&T
AT&T hit a new high Thursday, up 7.4% in August and 29% year-to-date. The stock yields 3.77% on a $0.28 quarterly dividend.

US:STX:Seagate Technology
Seagate hit a record high before closing down 2.4%. Shares are up 48% in three months.

US:EG:Everest Group
Everest gained 4.9% this week, helping lift the insurance sector, the top S&P performer.

US:AJG:Arthur J. Gallagher
Arthur J. Gallagher rose 4.3% this week, extending insurance sector gains.

US:TRV:Travelers
Travelers added 3.5% over four days, also supporting the insurance sector.

US:DAL:Delta Air Lines
Delta fell about 4% this week, dragging airlines lower.

US:UAL:United Airlines
United dropped 3.7% week-to-date, extending sector weakness.

US:LUV:Southwest Airlines
Southwest slipped 1.4% in four days, contributing to airlines’ 3.4% sector loss.

US:GOOGL:Alphabet (Google)
US:META:Meta Platforms
US:AMZN:Amazon
US:MSFT:Microsoft
Google secured a $10 billion cloud contract from Meta spanning six years. Meta, traditionally reliant on Amazon Web Services and also using Microsoft Azure, is expanding its infrastructure to meet soaring AI demand.
Nordic:

• Revenue: 1H2025 revenue grew 11% YoY, driven by a 24% increase in Project Services revenue, though this segment typically has lower margins than Maintenance Services.
• Gross Profit Margin: Margin remained stable at 23%, with a slight dip attributed to the higher mix from lower-margin Project Services.
• Net Profit: Net profit declined 3% YoY, mainly due to higher foreign exchange losses from USD weakening against SGD. Excluding FX and financing items, core operating profit actually grew 14% YoY, underscoring operational strength.
• Order Book: The order book stood at S\$184.9m as of June 30, 2025, reflecting continued success in contract wins and replenishment despite a slight dip from 2024’s peak.
• Balance Sheet: NAV per share increased 3% to 33.5 cents, and net gearing was kept low at 6% after significant debt repayment, signaling prudent financial management.
• Dividend Track Record: Nordic has consistently paid dividends, maintaining a payout ratio of 40% or higher in recent years, with interim and annual dividends regularly distributed.

Sri Trang Gloves (STGT) 

• Net Profit Impacted: Net profit fell sharply (-81.8% QoQ and -79.6% YoY). The drop is attributed to US reciprocal tariffs, which led to a wait-and-see approach from US customers while the final tariff rate is pending.

Singpost:

Key Highlights for Retail Investors

• Revenue plunges 23.8% year-on-year to S\$162.3 million as international deliveries drop sharply
• Operating profit down 60% to S\$3.4 million, but cost base trimmed significantly after Australia exit
• Major restructuring: Disposal of Australia, freight forwarding, and key Asia Pacific logistics assets
• SingPost Centre property business remains robust, with occupancy at near-full levels
• Special dividend of S\$202.5 million declared post-quarter, boosting shareholder returns
• Management signals focus on core Singapore, digital investment, and operational efficiency

Boustead Singapore Delivers Record Profits and Special Dividend Amid Strategic Real Estate Shake-Up: What Retail Investors Need to Know Now

Summary of Key Points

• FY2025 net profit surged 48% to S\$95 million.
• Special dividend of 2.0 cents per share declared, total dividend up to 7.5 cents per share, yielding 4–5%.
• Real Estate Solutions business spun off asset management into UIB, unlocking S\$28 million one-off gain and strategic access to a US\$3.5B platform.
• Geospatial division posts record profits, though growth outlook more muted due to macro headwinds.
• Energy Engineering wins major US cracker order, but faces margin and pipeline challenges ahead.
• Healthcare division loss driven by China associate; local business shows growth and innovation.
• Strategic review underway for industrial real estate assets, including possible REIT listing.

• Marco Polo Marine Ltd. wins its first ship repair contract for newly commissioned Dry Dock 4, valued at approximately S\$5 million.
• Signs a three-year Master Service Agreement with Cyan Renewables for ship repair, maintenance, and conversion services for offshore wind vessels.
• Dry Dock 4 is expected to positively impact revenue and growth in the final quarter of FY2025 and into FY2026.
• Strengthens position in the booming offshore wind energy sector in Asia.
• Potential for recurring revenue streams and steady cash flow from long-term agreements.

NetLink NBN Trust AGM 2025: Major Resolutions Passed, Director Re-Elections, and Unitholder Insights

Summary

• All major resolutions at the 2025 AGM were passed with overwhelming support.
• Three directors re-elected, ensuring continuity in leadership.
• Directors’ fees for FY2026 capped at S\$1.15 million; CEO not entitled to directors’ fees.
• Deloitte & Touche LLP re-appointed as auditors.
• Shareholder suggestion to consider quarterly distributions acknowledged.

ISDN Holdings Makes Strategic Move in Indonesia’s Renewable Energy Sector: Acquires Majority Stake in PT Funda

📉 Hong Kong Market Dips as Brokers Revise Targets; AIA, Sunny Optical & China Gas in Focus

HK:0916.HK:China Longyuan Power
Bank of America Securities raised China Longyuan Power’s target price to HKD6 but reiterated its Underperform rating.

HK:1917.HK:Hesai Group
Hesai Group plans to raise US$300 million through a Hong Kong IPO, according to wire reports.

HongKong:3115.HK:Hang Seng Index
The Hang Seng Index closed down 61 points at 25,104, while the Hang Seng Tech Index slipped 42 points to 5,498. Meituan fell over 3%, while Crystal International, JS Global Life, Great Wall Motor, CRRC, and Yixin all hit new highs.

HK:0003.HK:HK & China Gas
BOCI expects HK & China Gas’ 2H25 earnings to remain flat from 1H25. The brokerage raised its target price to HKD7.77 and reiterated a Buy rating.

HK:0023.HK:Bank of East Asia
Bank of East Asia said it expects its prime rate to stay unchanged this year.

HK:2382.HK:Sunny Optical
Citi raised Sunny Optical’s target price to HKD103 and reiterated its Buy call.

HK:1299.HK:AIA Group
Citi lifted AIA’s target price to HKD99 with a Buy rating, while AIA itself said business momentum remained strong through July and August.

HK:2018.HK:AAC Technologies
Citi said AAC Technologies’ interim results were in line with expectations and kept a Buy rating.

HK:0005.HK:HSBC
HSBC reported that UnionPay dual-currency credit card transactions and spending in China more than doubled year-on-year in 1Q.

US:BABA:Alibaba
AliExpress, part of Alibaba, is preparing to release a mini version of Labubu globally, boosting its retail product offerings.

📉 Hong Kong Market Weighed by Earnings Misses; Tencent, AAC Tech, Sunny Optical & Airlines in Spotlight

HK:3330.HK:Laopu Gold
Laopu Gold slumped 7% after brokers flagged higher-than-expected shareholder return plans.

HK:1810.HK:Xiaomi
Xiaomi Auto showcased its full product lineup at the Chengdu Motor Show, underscoring its ambitions in the EV market.

HK:0173.HK:K. Wah International
K. Wah International plunged over 6% as interim net profit fell 25.9% to HK$114 million. Interim dividend was halved to 2 cents.

HK:2018.HK:AAC Technologies
AAC Technologies tumbled 8% midday despite reporting a 63% surge in interim profit to RMB876 million.

HK:0023.HK:Bank of East Asia
Bank of East Asia jumped nearly 4% after posting a 14% rise in interim net profit to HK$2.407 billion. Interim dividend increased by about 26% to 39 cents.

HK:0836.HK:China Resources Power
China Resources Power slid around 7% as interim net profit dipped 16% to HK$7.872 billion. Interim dividend was cut to 35.6 cents.

HK:0763.HK:ZTE
ZTE announced progress in its 6G R&D with the industry’s first large-scale array prototype.

HK:2269.HK:WuXi Biologics
Daiwa lifted WuXi Biologics’ target price to HK$35.5, citing strong growth in RDM segments.

HK:2382.HK:Sunny Optical
Sunny Optical received multiple upgrades: Daiwa raised TP to HK$85, JPMorgan to HK$75, and CLSA to HK$96.9, all citing stronger product mix and earnings beats.

HK:1055.HK:China Southern Airlines
HK:0753.HK:Air China
HK:0670.HK:China Eastern Airlines
Reports said China Southern Airlines, Air China and China Eastern Airlines each ordered 100 Airbus aircraft, marking a mega-purchase deal.

HK:1044.HK:Hengan International
Hengan International’s interim net profit dipped 2.6% to RMB1.373 billion, though interim dividend was maintained at RMB0.70.

HK:0552.HK:China Communications Services
China Communications Services’ interim net profit inched up 0.2% year-on-year to RMB2.129 billion.

HK:0291.HK:China Resources Beer
JPMorgan raised its target price for China Resources Beer to HK$41 and rated it Overweight, highlighting earnings resilience.

HK:0700.HK:Tencent
Tencent’s Valorant Mobile raked in US$1 million in iOS revenue on its launch day, showing strong global traction.

HK:0003.HK:HK & China Gas
Daiwa raised HK & China Gas’ target price to HK$7.1 after in-line 1H results.

HK:2013.HK:Weimob
Weimob fell 6% despite narrowing its first-half loss by 94%, as investors remained cautious.

HK:9992.HK:Pop Mart
Nomura lifted Pop Mart’s target price to HK$372 with a Buy rating, citing continued demand momentum.

HK:0012.HK:Henderson Land
Citi raised Henderson Land’s target price to HK$30 and reiterated a Buy rating.

HK:0388.HK:HKEX
Brokers issued fresh opinions on HKEX following results, reflecting ongoing investor focus on its earnings trajectory.

📉 Global Markets Jolt: Earnings Swings, Broker Calls & Policy Buzz Drive Stocks

HK:9992.HK:POP MART
Goldman Sachs lifted POP MART’s target price to HKD350 with a Neutral rating, while Citi boosted its target to HKD398 with a Buy call. HSBC Research also raised its TP to HKD379, keeping a Buy stance.

HK:2382.HK:Sunny Optical
Goldman Sachs forecast Sunny Optical’s 2026 gross margin to recover above 20%, maintaining Neutral. HSBC Research raised TP to HKD105.4, while CLSA set TP at HKD96.9 and reaffirmed Outperform.

HK:0012.HK:Henderson Land
Goldman Sachs cut Henderson Land’s TP to HKD19.3 and reiterated Sell. Citi later lifted its TP to HKD30 with a Buy.

HK:0388.HK:HKEX
Goldman Sachs raised HKEX’s TP to HKD509, projecting stronger earnings, while Citi lifted its TP to HKD500 with a Buy.

HK:2269.HK:Wuxi Biologics
Citi raised Wuxi Biologics’ TP to HKD40 as revenue growth accelerates. CLSA also lifted TP to HKD34.8, maintaining Outperform.

HK:3012.HK:Wuxi XDC
CLSA upgraded Wuxi XDC’s TP to HKD70.7 and reaffirmed Outperform.

HK:0763.HK:ZTE
ZTE surged 8.6% after management said sector digital transformation entered a critical phase.

HK:1833.HK:PA GoodDoctor
CLSA hiked PA GoodDoctor’s TP to HKD20, reaffirming Outperform, citing AI-driven healthcare growth.

HK:1100.HK:Tse Sui Luen
Tse Sui Luen rose 40% despite stating no knowledge of unusual trading activity.

HK:2232.HK:Crystal International
Crystal International jumped 8% to a 7-year high after interim net profit rose 17% with a higher dividend.

HK:0916.HK:China Longyuan Power
Citi downgraded China Longyuan to Neutral after weak interim results and recommended Goldwind instead.

HK:0291.HK:China Resources Beer
HSBC Research lifted China Resources Beer’s TP to HKD34.8 and maintained Buy following a strong interim profit.

HK:6886.HK:Cansino Biologics
Cansino Biologics rallied 8% as interim loss narrowed by 94%.

HK:9888.HK:Baidu-SW
Baidu-SW dropped 3% after its 2Q non-GAAP net profit slumped 35.2% YoY, in line with estimates.

HK:1299.HK:AIA
AIA reported a 16% rise in interim VONB, with DPS up 10% to HK49 cents. Shares stayed soft post-earnings.

HK:6060.HK:ZA Online
ZA Online soared 7% on reports China may roll out RMB-backed stablecoins.

HK:0066.HK:MTR Corporation
CLSA downgraded MTR Corporation to Hold and slashed its TP to HKD27.

HK:0384.HK:China Gas
Daiwa raised HK & China Gas’ TP to HKD7.1 earlier, while the company downplayed tariff hike risks this year.

US:NVDA:NVIDIA
On Wall Street, the S&P 500 (SGX:S27.SI:S&P 500) extended its 4-day losing streak, Nasdaq (US:QQQ:Nasdaq Composite) fell 142 points, and Dow Jones (US:DGT:Dow Jones Industrial Average) slid. NVIDIA rebounded late, closing nearly flat.

US:COPS:Copper
Codelco, the Chilean copper giant, warned of a 33,000-ton production loss after a July mine accident.

HK:6969.HK:SMOORE International
SMOORE International reported interim net profit down 28% to RMB492M, with DPS at HKD0.20.

HK:9988.HK:Alibaba
Alibaba’s Hong Kong-listed unit BABA-W plans to spin off Banma Network Tech for a main board listing on HKEX.

Thank you