Broker Name: CGS International
Date of Report: November 25, 2025

Excerpt from CGS International report.

Report Summary

• Hong Fok Corporation Ltd is highlighted as a technical buy, with an inverted head and shoulders formation and multiple technical indicators confirming sustained bullish momentum and a potential uptrend.
• Singapore’s inflation exceeded expectations in October 2025, driven by rising healthcare and car prices, and is forecasted to further increase in 2026 due to ongoing healthcare costs and high COE premiums.
• The report also notes Alibaba’s Qwen AI app as a fast-rising competitor to ChatGPT in China, emphasizing the strategic significance of this launch for Alibaba’s long-term business and valuation.

Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website : https://www.cgs-cimb.com