📉 Wall Street Stumbles Again: Oracle, Tesla Drag Markets as Rates Jump
US:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
US:DGT:Dow Jones Industrial Average
All three major U.S. indexes closed lower on Thursday. The S&P 500 fell 0.50% to 6,604.72, the Nasdaq Composite also dropped 0.50% to 22,384.70, and the Dow Jones Industrial Average shed 173.96 points, or 0.38%, to 45,947.32.
US:ORCL:Oracle
Oracle plunged 5%, marking a third straight day of declines. Analysts at Rothschild & Co. Redburn issued a “sell” rating, warning of a potential 40% pullback due to overestimated AI cloud growth. Shares are now 16% off recent highs.
US:TSLA:Tesla
Tesla slipped 4% amid broad tech weakness, pressured by rising Treasury yields that topped 4.2%. Investors trimmed exposure to high-growth stocks.
US:CME:CME Group
CME Group shares rose nearly 2% after Citi upgraded the stock to “buy” from “neutral” and lifted its price target to $300, citing strong catalysts and a defensive platform.
US:WEBL:Webull
US:HOOD:Robinhood
Rosenblatt Securities initiated coverage on Webull with a “buy” and a $19 price target, forecasting 36% upside. Analysts highlighted retail trading tailwinds and rapid product expansion. Comparisons were made to Robinhood, which has surged 229% this year.
US:CIFR:Cipher Mining
US:GOOGL:Alphabet
Cipher Mining shares swung wildly, at one point down more than 10%, after launching an $800M convertible note offering and securing a $3B, 10-year colocation deal with Fluidstack. Alphabet’s Google will backstop $1.4B in lease obligations and take warrants for a 5.4% stake.
US:LULU:Lululemon Athletica
Needham downgraded Lululemon to “hold” from “buy,” citing a tough retail environment and high expectations. Shares fell more than 3%.
US:INTC:Intel
US:AAPL:Apple
US:NVDA:Nvidia
Intel shares jumped 5% after reports it sought investment from Apple, following Nvidia’s $5B commitment and U.S. government backing. Bernstein analysts, however, warned Intel remains “fundamentally challenged.”
US:COST:Costco
US:CNXC:Concentrix
Costco reported stronger-than-expected Q4 results, with earnings of $5.87 per share and revenue of $86.16B, but shares slipped 0.9% after-hours. Concentrix missed earnings forecasts and lowered guidance, sending shares down nearly 22%.
US:BTC:Bitcoin
Cipher Mining’s involvement in Bitcoin-linked operations pushed crypto into focus, with heavy trading volumes highlighting sector volatility.
US:ORCL:Oracle
US:DELL:Dell Technologies
ByteDance (private)
MGX (Abu Dhabi, private)
Silver Lake (private)
Oracle, Silver Lake, and Abu Dhabi’s MGX will invest in TikTok USA, holding about 45%. ByteDance retains 19.9%, with the remainder spread among other investors. President Donald Trump is set to sign an executive order backing the deal, ensuring TikTok’s U.S. operations continue. Oracle will oversee app security, while Dell CEO Michael Dell and media moguls Rupert and Lachlan Murdoch may play roles.
🌏 Asia Corporate Movers: From Palm Oil Rulings to REIT Plays and Offshore Expansions
SGX:F34.SI:Wilmar International
The Indonesian Supreme Court has overturned earlier acquittals involving Wilmar and two other palm oil groups, reviving scrutiny on the industry.
SGX:OV8.SI:Sheng Siong
Sheng Siong signed an agreement with JTC Corporation to lease a property in Sungei Kadut, expanding its warehouse and distribution capacity.
SGX:595.SI:GKE Corporation
GKE Corporation proposed a placement of 88.12 million new shares at 9.68 cents each, targeting gross proceeds of $8.18 million.
SGX:C38U.SI:CapitaLand Integrated Commercial Trust
CapitaLand Integrated Commercial Trust issued $300 million worth of 2.25% fixed-rate notes to institutional and accredited investors.
SGX:AW9U.SI:Centurion REIT
Centurion Accommodation REIT debuted on the market at 96 cents, closing its first trading day 9.1% above its IPO price.
SGX:CY6U.SI:CapitaLand India Trust (CLINT)
CapitaLand India Trust announced its first divestment since listing in 2007, selling CyberVale in Chennai and CyberPearl in Hyderabad for $161.7 million. The sale, at a 3% premium to valuation, will net $158.8 million in proceeds.
SGX:AWI.SI:Thakral Corporation
Thakral Corporation disclosed that The Beauty Tech Group’s IPO on the London Stock Exchange is priced between GBP 2.51 and GBP 2.91 per share, implying a valuation of £280–£320 million. Thakral will sell up to 2.86% of its stake, potentially raising GBP 6.97–8.09 million.
US:PRIMEUSREIT:Prime US REIT
Prime US REIT will raise at least US$25 million via a private placement, pricing new units between US$0.1935 and US$0.20. The funds will support capex, tenant incentives, and leasing costs, while distributions will be normalised to 50% of distributable income from 2HFY2025 onwards.
SGX:5LY.SI:Marco Polo Marine
Marco Polo Marine added two Anchor Handling Tug Supply vessels valued at US$34 million to its fleet, expanding to 21 vessels. The ships, slated for delivery in 2026, will support oil & gas activities and offshore wind projects in Asia.
🌐 Markets & Corporates: Wilmar Faces Court Ruling, Fed Cuts Rates, REITs Draw Investor Focus
SGX:F34.SI:Wilmar International
DBS Group Research maintained its “hold” call with a $3 target price on Wilmar International after Indonesia’s Supreme Court overturned an earlier acquittal in a cooking oil case. Wilmar has already deposited US$729 million with authorities and said its subsidiaries acted in compliance with regulations. Indonesian firms Permata Hijau Group and Musim Mas Group were also implicated.
SGX:BTX.SI:XMH Holdings
XMH Holdings disclosed its Indonesian unit, PT Xin Ming Hua Engine, was hit with a tax bill of 143.9 billion rupiah (US$10.94 million). The company had reported FY2025 earnings of $25.5 million.
US:DGT:Dow Jones Industrial Average
US:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
The U.S. Federal Reserve cut interest rates by 25 basis points to a 4%–4.25% range, its first cut in nine months. Fed Chair Jerome Powell said policies remain “moderately restrictive,” while other Fed members offered mixed views on future actions. Analysts highlighted that gold typically benefits from lower rates, with J.P. Morgan strategist Chen Weiheng raising his 2026 outlook to US$4,050–US$4,150 per ounce from the current US$3,760.
SGX:N2IU.SI:Mapletree Pan Asia Commercial Trust (MPACT)
DBS Group Research sees FY2026 as the earnings bottom for MPACT, supported by lower rates and asset enhancements. Key assets VivoCity and Mapletree Business City contribute 54% of income and are expected to benefit further from the MRT Circle Line completion. Analysts lifted the REIT’s target price to $1.60, noting its stronger balance sheet after divestments and reduced gearing to 38%.
HK:0823.HK:Link REIT
Analysts compared MPACT valuations against peers, pointing out Link REIT trades at 0.7x P/B versus S-REITs above 1.0x. This highlights relative undervaluation in parts of the sector.
🏦 Fed Kicks Off Rate-Cut Cycle, Global Markets React with Caution and Opportunity
US:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
US:DGT:Dow Jones Industrial Average
The U.S. Federal Reserve cut its policy rate by 25 basis points to 4%–4.25% on Sept 17, the first move in nine months. Chair Jerome Powell framed the step as “risk management” amid softer labour data and persistent inflation. Newly appointed governor Stephen I. Miran dissented, pushing for a deeper 50 bps cut. The Fed warned of rising downside risks to employment, while quantitative tightening continues.
UK:BOE:Bank of England
On Sept 18, the Bank of England held its rate steady at 4%, citing sticky inflation in the UK. Norway and Canada have also trimmed rates, underscoring a diverging global central bank response. European stocks rallied, with Paris and Frankfurt up over 1%, while Asia ended mixed.
US:GOLD:Gold
J.P. Morgan strategist Chen Weiheng said gold benefits from lower yields, projecting the metal could climb to US$4,050–US$4,150 per ounce by mid-2026 from around US$3,760 now. He notes the Fed’s dovish shift lowers the opportunity cost of holding non-yielding assets.
US:ALLSPRING:Allspring Global Investments
Allspring’s fixed income team said Powell’s pivot at Jackson Hole paved the way for this cut, validating bond market rallies. Strategists George Bory and John Campbell see 100 bps in cuts over the next year, expecting bond prices to stay supported.
US:BLK:BlackRock
BlackRock’s Rick Rieder argued the Fed is responding to labour weakness after job revisions cut 911,000 positions from the past year. He expects two more cuts this year and favours duration in the front-to-belly of the yield curve. Navin Saigal of BlackRock Asia Pacific adds that Asian central banks may have more scope to ease, making Asian bonds attractive complements to global portfolios.
JP:JPM:JP Morgan
JP:JPM:JP Morgan Asset Management
JP Morgan’s Kerry Craig sees Powell’s messaging reconciling higher growth and inflation forecasts with easing. He expects two more cuts this year, followed by additional reductions into 2027. Craig said risk assets should benefit, with a weaker USD boosting emerging markets.
JP:SMBC:Sumitomo Mitsui Banking Corporation
SMBC strategist Jeff Ng expects Asia to follow with shallow easing cycles. He forecasts USD weakness of 2%–3% over the next year, with currencies like the MYR, SGD, TWD and KRW gaining up to 5%. Taiwan and Malaysia may hold off on cuts, while the Bank of Japan is still seen hiking in October and again in 2026.
SGX:DBS.SI:DBS Group
Morningstar (private)
Saxo (private)
Morningstar analysts Michael Makdad and Lorraine Tan said the immediate impact on Asian banks and real estate is limited, as Hong Kong and Singapore funding rates had eased even before the Fed decision. Saxo strategist Charu Chanana called this “the start of an easing cycle,” highlighting opportunities in REITs, utilities, AI-linked tech, and small caps as financing costs fall.
📈 Singapore Equities Rally Poised to Extend as Liquidity Boost, Small-Caps Shine
SGX:C38U.SI:Singapore Exchange (SGX)
Singapore equities gained 2.3% m-o-m in August, marking a fourth straight month of growth and a 12.7% rise year-to-date. Telecommunications and property stocks led the advance, while mid-caps such as SGX:OYY.SI:PropNex (+74%), SGX:S7P.SI:Soilbuild Construction (+69%), and SGX:T8V.SI:Pacific Radiance (+61%) surged. SGX also launched the iEdge Singapore Next 50 indices on Sept 22, tracking the next 50 largest companies outside the Straits Times Index (STI). Year-to-date, the iEdge Next 50 gained 24.07%, outpacing the STI’s 18.64%.
SGX:BN4.SI:Wee Hur Holdings
SGX:OYY.SI:PropNex
PhillipCapital’s head of research Paul Chew notes that Singapore equities, particularly small- and mid-caps, will benefit from liquidity injections via the $5 billion Equity Market Development Programme (EQDP) announced by MAS and the Financial Sector Development Fund. He highlights that stocks such as Wee Hur and PropNex have already surpassed his target estimates.
SGX:1F3.SI:Zixin Group
Chew also points to micro-caps under $100 million in market cap, such as Zixin Group, as potential multi-bagger opportunities. With large caps trading at 20–25x P/E, he views any stock below 10x P/E as undervalued in Singapore.
SGX:42L.SI:Lum Chang Holdings
Chew notes that IPOs are drawing selective interest, citing Lum Chang Creations’ offering priced at around five times P/E as an example of attractive valuation. SGX officials suggest as many as 30 listings are in the pipeline.
SGX:MAS:Monetary Authority of Singapore
The MAS has already allocated $1.1 billion of the EQDP to Avanda Investment Management, Fullerton Fund Management, and JP Morgan Asset Management, with another $3.9 billion pending. Chew believes this cycle of performance and liquidity will attract more inflows, including from hedge funds and passive strategies.
US:GOOGL:Alphabet
Semiconductors remain on Chew’s radar, driven by capex plans from firms like Alphabet, which are expanding in artificial intelligence. He expects this to cascade through the semiconductor supply chain.
SGX:STONEREIT:Stoneweg European REIT
In Europe, Chew highlights Stoneweg European REIT as a key beneficiary of elevated defence spending and post-war reconstruction demand, with its portfolio across Germany, Poland, and Italy.
oil:US:UCO:Oil
Energy and oil & gas sectors are also set to benefit from surging power demand, particularly from new data centres, while renewables struggle to catch up.
📊 Singapore’s Small- & Mid-Cap Renaissance Gains Steam as Investors Rediscover Hidden Gems
SGX:C38U.SI:Singapore Exchange (SGX)
Once seen as volatile and sidelined, Singapore’s small- and mid-cap stocks are staging a comeback. Kenneth Ong, portfolio manager at Lion Global Investors, says improving market sentiment and government support are reshaping perceptions. The launch of SGX’s iEdge Singapore Next 50 indices on Sept 22 and the $5 billion Equity Market Development Programme (EQDP) are providing a structural lift to this space.
Lion Global Investors
Ong believes small- and mid-caps could soon form a sub-asset class in their own right. With many firms now boasting clean balance sheets, lean operations, and survival through past cycles, Ong says investors are starting to “rediscover” their potential. “The quality is there, and the discovery is still there,” he told a panel hosted by SAC Capital.
SGX:5WF.SI:ISOTeam
SGX:F03.SI:Food Empire
SGX:ER0.SI:KSH Holdings
Vincent Toe, co-founder of ICH Group, said valuation multiples for well-covered mid-caps have risen but sees “plenty of hidden gems.” His firm has recently participated in placements of ISOTeam, Food Empire, and KSH Holdings. “There’s still a long way to go,” he said.
Amova Asset Management
Kenneth Tang of Amova Asset Management notes that small- and mid-caps are enjoying a “renaissance,” adding that inflows into Amova’s funds have grown as allocations shift toward these counters. Still, he calls for listings of high-beta growth names to spark broader investor appetite, beyond Singapore’s reputation for safe dividend yields.
US:LLY:Eli Lilly
Ong stresses the importance of simple, clear growth stories. He points to Eli Lilly in the U.S., where excitement over its weight-loss drug has lifted valuations, despite a broader portfolio. “When the story is very easy to understand, the valuation multiple just expands,” he said.
Temasek (private)
US:BLK:BlackRock
For Tang, the “grand design” of EQDP is to revive active fund management. He highlights that, excluding Temasek, BlackRock is currently the largest holder of Singapore equities — mostly via passive MSCI World Index exposure. “Imagine if this 1% allocation was actively managed by local and global asset managers seeking alpha. That is the opportunity we’re stepping into,” Tang said.
ICH Group
SAC Capital
Assembly Place
Toe and Ong also called for stronger communication from companies. Clearer storytelling, better research coverage, and tighter governance will be crucial to avoid past pitfalls like the S-chips scandal. “We as industry players and opinion leaders have a responsibility to gatekeep,” said Toe.
🚀 Analysts Lift Food Empire, SATS While Maybank Flags Construction Boom to $60B
SGX:F03.SI:Food Empire
RHB Bank Singapore reiterated its “buy” call on Food Empire, raising the target price to $2.95 from $2.72. Analyst Alfie Yeo highlighted strong growth prospects from capacity expansion, brand investments, and M&A opportunities. The company recently raised $42 million via a placement of 17 million treasury shares at $2.52 apiece. Food Empire is boosting production across Malaysia, Kazakhstan, Vietnam, and India, with new facilities set to come online between FY2025 and FY2028.
SGX:C38U.SI:Singapore Exchange (SGX)
Maybank economists project Singapore’s construction contracts could hit nearly $60 billion in 2025, surpassing official estimates of $47–$53 billion. In 1H2025 alone, awards reached $27.7 billion, up 41% y-o-y. The boom is driven by mega projects such as Changi Terminal 5, Tuas Mega Port, new MRT lines, and the North-South Corridor, alongside residential demand from private developers. Maybank expects the construction sector to grow over 5% annually from 2025–2030, raising its share of GDP from 3.5% to 4.2%.
SGX:S58.SI:SATS
CGS International analysts Tay Wee Kuang and Lim Siew Khee maintained their “add” rating on SATS with a target price of $3.83. They noted SATS’ diverse cargo operations across 125 global locations, with strong growth in Europe, Middle East, and Africa. Despite potential headwinds from U.S. e-commerce tax changes, SATS is expected to outpace industry growth. Expansion of its Thailand central kitchen to 108,000 meals per day by end-FY2025 could also drive cost efficiencies.
UOL, CapitaLand-led consortium to launch Skye at Holland with prices from S$2,598 psf
🇲🇾 Malaysia Earnings & Deals: Profits Squeezed, Warrants Planned, Takeover Turns Unconditional
KL:7293.KL:Yinson Holdings Bhd
Yinson’s 2QFY2026 net profit halved to RM101 million from RM203 million on weaker EPCIC contributions and higher costs; revenue fell 36.3% to RM1.36 billion. An interim dividend of one sen per share was declared.
KL:6399.KL:Astro Malaysia Holdings Bhd
Astro’s 2QFY2026 net profit slid 70% to RM16.39 million as subscription and advertising revenue declined and costs rose; revenue fell 13% y-o-y to RM683.21 million. No dividend was declared.
KL:5072.KL:Hiap Teck Venture Bhd
Hiap Teck’s 4QFY2025 net profit fell 59% to RM19.7 million on lower selling prices, reduced sales volume and weaker JV contributions; revenue dropped 18% y-o-y to RM342.7 million. A first and final dividend of 0.5 sen per share was proposed.
KL:9792.KL:SEG International Bhd
SEG proposed a bonus issue of up to 610.94 million warrants on a one-for-two basis. While no immediate funds will be raised, full exercise at 50 sen per warrant could generate RM305.47 million for working capital.
KL:5614.KL:NuEnergy Holdings Bhd
Largest shareholder Agrobulk Holdings Sdn Bhd’s takeover offer turned unconditional after its stake exceeded 50%. The offer has been extended to Oct 9 from Sept 29 previously.
KL:8834.KL:Ireka Corp Bhd
Trading in Ireka will be suspended on Oct 3 after its appeal for more time to submit a regularisation plan was dismissed by Bursa Securities; the company faces delisting on Oct 7 unless it appeals by Oct 2.
🔥 Hong Kong Flows Favour Alibaba & Tencent as Buybacks, Loans and Listings Drive Headlines
HK:09988.HK:Alibaba Group (BABA-W)
Southbound Trading recorded a net inflow of HKD4.6B into Alibaba’s Hong Kong shares.
HK:00700.HK:Tencent
Net Southbound inflow of HKD1.1B targeted Tencent, reflecting continued mainland investor interest.
HK:00981.HK:Semiconductor Manufacturing International Corp (SMIC)
SMIC drew HKD958.7M of Southbound net inflow amid chip-sector focus.
HK:01810.HK:Xiaomi (XIAOMI-W)
Xiaomi saw HKD802.1M of Southbound net outflow.
HK:02228.HK:XTALPI
XTALPI registered HKD120M of Southbound net outflow.
HK:00011.HK:Hang Seng Bank
Hang Seng Bank repurchased 200,000 shares at HK$114.5–118.1, spending about HK$23.134M; total buybacks since mandate reached 7.93M shares (0.4213%).
HK:00700.HK:Tencent
Tencent bought back 844,000 shares at HK$644–658.5, spending ~HK$550M; cumulative buybacks since mandate total 63.29M shares.
HK:00017.HK:New World Development (NWD)
NWD signed a facility agreement for a term loan of up to HK$5.9B with initial commitments.
US:DB:Deutsche Bank AG
Deutsche Bank acted as arranger, original lender and agent on NWD’s HK$5.9B term loan facility.
HK:00697.HK:Shoucheng Holdings
Shoucheng’s wholly owned unit invested in Motorevo Robotics to advance robotics technology applications.
HK:02517.HK:Guoquan
Guoquan announced a share repurchase plan of up to HK$100M.
HK:06030.HK:CITIC Securities
CITIC Securities is a joint sponsor for SHUANGLIN’s proposed H-share listing on the HKEX main board.
HK:1776.HK:GF Securities
GF Securities is a joint sponsor alongside CITIC Securities for SHUANGLIN’s HK listing application.
HK:3115.HK:Hang Seng Index
The HSI closed down 33 points; Xiaomi and JD.com outperformed while bank shares weakened.
HK:09618.HK:JD.com
JD.com advanced and helped support the market even as the headline index dipped.
HK:—:Hong Kong Exports
Hong Kong’s total export value in August rose 14.5% y/y, beating forecasts.
🔥 Southbound Flows Lift Alibaba & Tencent; Buybacks, Loans and Listings Dominate Hong Kong Tape
HK:09988.HK:Alibaba Group
Southbound Trading posted a HKD4.6B net inflow into Alibaba (BABA-W).
HK:00700.HK:Tencent
Tencent drew HKD1.1B in Southbound net inflows.
HK:00981.HK:Semiconductor Manufacturing International Corp
SMIC recorded HKD958.7M Southbound net inflow.
HK:01810.HK:Xiaomi
Xiaomi saw HKD802.1M Southbound net outflow.
HK:02228.HK:XTALPI
XTALPI registered HKD120M Southbound net outflow.
HK:00011.HK:Hang Seng Bank
Hang Seng Bank repurchased 200,000 shares at HK$114.5–118.1, totaling ~HK$23.134M; cumulative buybacks since mandate reached 7.93M shares (0.4213%).
HK:00700.HK:Tencent
Tencent bought back 844,000 shares at HK$644–658.5, spending ~HK$550M; total buybacks since mandate now 63.29M shares.
HK:00017.HK:New World Development
New World Development signed a facility agreement for up to HK$5.9B in term loans.
US:DB:Deutsche Bank
Deutsche Bank acted as arranger, original lender and agent on New World Development’s HK$5.9B term loan facility.
HK:00697.HK:Shoucheng Holdings
Shoucheng’s wholly owned subsidiary invested in Motorevo Robotics to promote robotics technology applications.
HK:02517.HK:Guoquan
Guoquan plans to repurchase up to HK$100M in shares.
HK:0388.HK:HKEX
Shuanglin filed for an H-share listing on HKEX’s main board, with CITIC Securities and GF Securities as joint sponsors.
HK:06030.HK:CITIC Securities
CITIC Securities is joint sponsor for Shuanglin’s proposed H-share listing.
HK:1776.HK:GF Securities
GF Securities is joint sponsor alongside CITIC Securities on Shuanglin’s HK application.
HK:0388.HK:HKEX
SERES completed CSRC filing for an H-share issuance, progressing its Hong Kong listing plans.
HK:3115.HK:Hang Seng Index
HSI closed down 33 points; Xiaomi and JD.com firmed while banks weakened.
HK:09618.HK:JD.com
JD.com outperformed and helped cushion the market despite the index dip.
US:COPS:Copper
CNIA said departments are accelerating measures to strengthen standardized management of copper smelting output construction.
🔥 AI, Buybacks & Bets: Alibaba, Tencent, Kuaishou Lead Hong Kong Tape
HK:09988.HK:Alibaba Group
Southbound Trading posted a HKD4.6B net inflow into BABA-W.
HK:00700.HK:Tencent
Mainland funds added HKD1.1B via Southbound Trading.
HK:00981.HK:Semiconductor Manufacturing International Corp
SMIC saw HKD958.7M Southbound net inflow.
HK:01810.HK:Xiaomi
Southbound investors withdrew HKD802.1M.
HK:02228.HK:XTALPI
Recorded HKD120M Southbound net outflow.
HK:09698.HK:GDS Holdings
UBS kept GDS-SW as a top data-centre pick.
HK:09618.HK:JD.com
JD-SW launched closed beta of the Jingxi app, adding voice ordering, air tickets and hotel booking.
HK:09868.HK:XPeng
XPENG-W said it will mass-produce and deliver what it calls the world’s first flying car next year, per He Xiaopeng.
HK:01024.HK:Kuaishou Technology
DBS resumed coverage with a “Buy,” citing AI as the next growth phase.
HK:00012.HK:Henderson Land Development
HSBC Research said Hong Kong real estate is recovering steadily and flagged Henderson Land as a likely beneficiary.
US:C:Citi
Citi raised Alibaba (BABA-W) target price to HK$215 and reiterated “Buy.”
HK:01109.HK:China Resources Land
HSBC Research kept an optimistic stance on China property and singled out China Resources Land.
HK:01030.HK:Seazen Group
HSBC Research also highlighted Seazen among preferred names.
HK:09988.HK:Alibaba Group
UBS expects Alibaba Cloud to benefit from strong AI cloud demand and lifted BABA-W TP to HK$210.
HK:00697.HK:Shoucheng Holdings
CTF Services plans to issue HK$2.218B bonds exchangeable into Shoucheng shares at a premium; Shoucheng reiterated its focus on creating shareholder value.
HK:00005.HK:HSBC Holdings
HSBC bought back over 3.65M shares year-to-date, totaling about US$395M.
HK:0388.HK:HKEX
Shuanglin filed for an H-share main-board listing with CITIC Securities and GF Securities as joint sponsors.
HK:0388.HK:HKEX
CSRC accepted SERES’ H-share issuance filing, advancing its Hong Kong listing plan.
HK:3115.HK:Hang Seng Index
HSI opened 17 points higher as Zijin Mining jumped about 4% and banks lagged.
HK:02899.HK:Zijin Mining Group
Shares hit records alongside copper strength.
HK:03993.HK:CMOC Group
CMOC also rallied to record highs as copper prices rose.
US:COPS:Copper
Copper climbed to a 15-month-plus high, underpinning miners.
HK:09863.HK:Leapmotor
Marked its 1,000,000th vehicle and lifted its annual sales target to as much as 650,000 units.
HK:00293.HK:Cathay Pacific Airways
Cathay cancelled about 540 flights over two days, affecting roughly 85,000 customers.
HK:00700.HK:Tencent
China approved 156 games in September, including titles from Tencent and NetEase.
HK:09999.HK:NetEase
Included among the latest batch of 156 game approvals in China.
SGX:595.SI:GKE Corporation
GKE Corporation Limited has proposed a private placement of up to 88,123,510 new ordinary shares at S$0.0968 per share, aiming to raise as much as S$8.53 million in gross proceeds. The issue price reflects a ~9.87% discount to the recent volume weighted average price (VWAP) of S$0.1074 per share.
SGX:JIUTIAN.SI:Jiutian Chemical Group
Henan Energy and Chemical Industry Group Co., Ltd. (“HNEC”), the ultimate controlling shareholder of Jiutian Chemical, will undergo a state-driven strategic restructuring initiated by the State-owned Assets Supervision and Administration Commission of Henan Province.
Anyang Longyu (HK) Development Co., Ltd., a wholly-owned unit of Anyang Chemical Industry Group, directly controls 25.27% of Jiutian Chemical’s issued shares.
The company emphasized that shareholders will be updated on any material developments and advised investors to exercise caution and consult professional advisers before making decisions.
Thank you
