Broker Name: OCBC Investment Research
Date of Report: 14 November 2025

Excerpt from OCBC Investment Research report.

Report Summary:

• US equity markets saw their largest decline in a month due to concerns about delayed economic data, slower interest rate cuts, and high tech stock valuations, leading to a rotation into defensive stocks. European and Asian markets also experienced mixed performances, with earnings and economic data driving sentiment.
• ComfortDelGro Corporation reported a 15.4% increase in PATMI year-on-year, though core profits missed expectations due to margin compression in the Taxi & Private Hire segment. Seatrium Limited’s net order book declined, with recent project terminations and legal uncertainties expected to weigh on the share price in the near term.

Above is an excerpt from a report by OCBC Investment Research. Clients of OCBC Investment Research can be the first to access the full report from the OCBC Investment Research website: https://www.ocbc.com/group/investors/ocbc-investment-research.html