Trendspotter: Comprehensive Analysis of Singapore’s Top Stocks

Singapore Retail Research | March 17, 2025

Keppel REIT – Uptrend Continuation Likely

Keppel REIT’s technical analysis indicates a bullish continuation. The stock has broken out of a falling wedge pattern with two strong consecutive bullish bars and rising volume, signaling a likely upside reversal. Prices are trending above all Ichimoku indicators, the MACD/signal line has performed a crossover at the bottom, and the Stochastic Oscillator has formed an oversold crossover. The 23-period ROC has also risen above the zero line, confirming a bullish divergence. With healthy volume, the analyst recommends a technical buy with entry prices at 0.860, 0.830, and 0.800, a stop loss at 0.780, and target prices of 0.930, 0.970, 1.00, and 1.10.

CStone Pharmaceuticals (2616) – Technical Buy

The analyst has issued a technical buy recommendation for CStone Pharmaceuticals (2616) with entry prices at 3.69, 3.20, and 2.95, a stop loss at 2.80, and target prices of 4.58, 9.20, 7.60, and 9.40.

Ping An Insurance Group Co of China (2318) – Technical Buy

The analyst has issued a technical buy recommendation for Ping An Insurance Group Co of China (2318) with entry prices at 49.15, 43.50, and 41.15, a stop loss at 38.80, and target prices of 59.00, 65.10, 72.60, and 90.40.

Wuliangye Yibin Co Ltd (000858) – Technical Buy

The analyst has issued a technical buy recommendation for Wuliangye Yibin Co Ltd (000858) with entry prices at 140.80, 132.60, and 120.00, a stop loss at 119.90, and target prices of 166.25, 180.40, 200.12, and 4000.50.

Sembcorp Industries – More Than Enough Gas

The analyst sees minimal impact from the termination of gas imports (c.0.6mtpa) that was previously scheduled to begin in 2026. Sembcorp Industries has a total of c.2.8mtpa of PNG and LNG combined to power more than 22GWh of power generation on a 55% load factor. The news of Vietnam’s tariff reshuffling could have been overblown. The analyst maintains an Add rating on Sembcorp Industries, with a slightly higher target price of S\$7.81, now based on a 11.7x P/E (previously 12.5x), in line with regional peers.

Kumpulan Kitacon Bhd – Too Cheap to Ignore

The analyst has issued a recommendation on Kumpulan Kitacon Bhd, stating that the stock is too cheap to ignore.

Banks – Setting the Stage for a Turnaround in 2H25F

The analyst has provided an outlook on the banking sector in Indonesia, indicating that the banks are setting the stage for a turnaround in the second half of 2025.

Summarecon Agung – FY24 Results Came Strongly

The analyst has commented on the strong FY24 results of Summarecon Agung, an Indonesian real estate company.

CGS International Securities Singapore Pte. Ltd.