Broker Name: UOB Kay Hian Private Wealth Management
Date of Report: December 19, 2025
Excerpt from UOB Kay Hian Private Wealth Management report.
Report Summary
- US and Asian equity markets rebounded, led by tech stocks and expectations of more dovish central bank policies, with the S&P 500, Nasdaq, and Nikkei all posting gains. Micron surged on positive outlook, and Trump Media entered the fusion power sector via a major merger.
- Gold approached all-time highs as markets anticipate US interest rate cuts, while major currencies and commodities saw mixed moves; China trimmed US Treasury holdings to their lowest since 2008, and Taiwan’s economy benefited from strong AI chip demand.
- High-profile corporate activity included Nike’s disappointing China results, a Tesla rally driven by Musk’s innovation vision, and Lululemon gaining activist support; OpenAI seeks massive new funding and US regulators scrutinize spectrum deals involving AT&T and SpaceX.
- Hong Kong IPO activity remains robust into year-end, though trading is expected to remain subdued over the holidays; HKEx is consulting on board lot size reforms, and China’s Hainan Free Trade Port has become the world’s largest by area.
- Key technical trading views: China Construction Bank (0939.HK) and Xiaomi (1810.HK) are highlighted as trading buys, while CNOOC (0883.HK) shows neutral momentum with potential rebound signals.
- Major upcoming events include central bank decisions, US and China economic data, and a pending Supreme Court ruling on Trump’s tariffs.
Above is an excerpt from a report by UOB Kay Hian Private Wealth Management. Clients of UOB Kay Hian Private Wealth Management can be the first to access the full report from the UOB Kay Hian website: http://www.utrade.com.hk
