CGS International Securities Singapore Pte. Ltd.
Date of Report: September 26, 2025
Bullish Reversal for iX Biopharma & China Market Trends: September 2025 Retail Research Deep Dive
Market Recap: Shifting Tides in Chinese Bonds and Equities
The Asian financial landscape is witnessing significant shifts, particularly in China, where government bonds reversed an earlier decline after investors began favoring equities over sovereign notes. The 10-year bond yield briefly touched 1.92% before settling at 1.88%, marking a potential third consecutive monthly increase—a streak not seen since 2022. The 30-year yield also fluctuated, peaking at 2.28% before settling at 2.23%.
Key drivers of this movement include:
- Investor rotation from bonds to surging Chinese equities.
- Reduced expectations for monetary easing.
- Large bond issuances aimed at supporting growth.
- Higher taxes on investment income and increased redemption fees on short-term funds.
- Beijing’s efforts to curb excessive price competition and optimism around AI and consumption sectors.
Strategists suggest bond yields may climb further, with resistance at 1.95% and a possible move to 2% for 10-year notes. These trends are expected to persist as China heads into its National Day holidays (Oct. 1-8) with markets closed during that period.
China Telco Surge: Hollow-Core Fibre Revolutionizes Industry Sentiment
One of the most exciting developments in China’s telecommunications sector is the rapid scaling and commercialization of hollow-core fibre—a technology poised to transform data transmission for AI and cloud workloads.
Highlights:
- Microsoft and Corning’s collaboration is accelerating mass production and global deployment.
- Hollow-core fibre slashes latency by a third, revolutionizing long-distance, ultra-low latency data center connections.
- Chinese manufacturers are aggressively positioning for market share, capitalizing on accelerating industrialization.
- Demand is predicted to soar, especially for high-reliability and ultra-low latency scenarios—key for AI and cloud infrastructure.
Technical Buy Spotlight: iX Biopharma Ltd.
iX Biopharma Ltd., a Singapore-based pharmaceutical company, is signaling a bullish reversal at the bottom, making it a compelling technical buy for investors seeking upside potential.
Company Overview:
iX Biopharma operates an integrated business model spanning drug development, manufacturing, and supply. Their focus is on pharmaceutical and nutraceutical therapies targeting pain and other health conditions.
Technical Analysis Summary
- Last Price: 0.036
- Entry Prices: 0.036, 0.029, 0.023
- Support Levels: S1: 0.026 | S2: 0.016
- Stop Loss: 0.015
- Resistance Levels: R1: 0.05 | R2: 0.090
- Target Prices: TP1: 0.054 | TP2: 0.062 | TP3: 0.090 | TP4: 0.105
| Technical Indicator |
Signal |
Comments |
| Major Downtrend Line |
Broken |
Two strong consecutive bullish candles |
| Ichimoku Cloud |
Bullish |
Price above all 5 Ichimoku indicators |
| MACD |
Strongly Positive |
MACD line above zero, positive histogram |
| Stochastic Oscillator |
Rising |
Steady upward momentum observed |
| 23-period ROC |
Positive |
Momentum indicator supports bullish trend |
| Directional Movement Index |
Sustained Bullish |
Clear bullish strength signal |
| Volume |
Expanding |
Healthy volume expansion supports move |
iX Biopharma: Trading Strategy Snapshot
- Entry at 0.036, 0.029, or 0.023 to capture reversal momentum.
- Set stop loss at 0.015 to manage risk exposure.
- Key support at 0.026 and 0.016; monitor for breakdowns.
- Upside resistance at 0.05 and 0.090; target prices up to 0.105 indicate strong bullish conviction.
- All major technical indicators flash bullish signals with rising momentum and expanding volume.
Analyst: CHUA Wei Ren, CMT
Broker Recommendation Framework & Coverage Distribution
Understanding the broker’s rating system is crucial for evaluating investment calls:
| Rating |
Definition |
| Add |
Total return expected to exceed 10% over 12 months |
| Hold |
Total return expected between 0% and +10% over 12 months |
| Reduce |
Total return expected below 0% over 12 months |
Broker coverage for the quarter ended June 30, 2025:
| Rating |
% of Coverage Universe |
% Investment Banking Clients |
| Add |
70.6% |
1.1% |
| Hold |
20.5% |
0.5% |
| Reduce |
8.9% |
0.5% |
This robust framework ensures clarity for investors evaluating stock recommendations and sector/country positioning.
Global Regulatory Coverage & Disclaimers
The report outlines stringent regulatory considerations and distribution restrictions for each major jurisdiction, underscoring its compliance and confidentiality requirements. Coverage spans Hong Kong, Singapore, Malaysia, Indonesia, South Korea, Thailand, Australia, Canada, China, France, Germany, Ireland, New Zealand, Spain, Sweden, Switzerland, UAE, UK, EEA, and the US. Each region has tailored guidance on the eligibility and intended audience for investment advice and research distribution.
Key points:
- This research is intended for professional, institutional, or sophisticated investors.
- Distribution and reliance are restricted by local regulations, with strict confidentiality across all regions.
- CGS International, its affiliates, and analysts adhere to robust conflict-of-interest policies and disclosure standards.
- Analysts certify independent, autonomous preparation of views, with no direct compensation tied to specific recommendations.
Conclusion: September 2025 Investment Outlook
The September 2025 research highlights pivotal market rotation in China, with sovereign bond yields under upward pressure as investors flock to equities and emerging AI/tech sectors. The telecommunications landscape is set for transformative change with hollow-core fibre, while iX Biopharma Ltd. stands out as a technical buy on bullish reversal signals. Investors should heed the broker’s recommendation framework and regulatory guidance when evaluating opportunities across Asia and beyond.
This comprehensive analysis equips financial professionals and market watchers with actionable intelligence, technical signals, and strategic context for decision-making in a rapidly evolving environment.
