Market Overview

The market has shown mixed signals after the US election, with speculation that it may have run too far. The S&P 500 nearly erased its gains despite in-line inflation data, while the Nasdaq 100 fell slightly. The Dow Jones Industrial Average saw a minor increase. Treasury yields and the dollar index both experienced marginal gains. Bitcoin, after topping \$93,000, pared its gains later in the session.

FIT Hon Teng Ltd (6088): Bullish Upside to Continue

FIT Hon Teng Ltd, a manufacturer and distributor of electrical components, shows a promising bullish trend. The stock has broken out of its bullish flag formation, supported by rising volume and positive technical indicators such as the MACD, Stochastic Oscillator, and ROC.

Technical Highlights

• Entry Prices: 3.14, 2.48, 2.04
• Support Levels: 2.48, 1.77
• Stop Loss: 1.74
• Resistance Levels: 4.40, 7.75
• Target Prices: 4.50, 6.10, 8.30, 12.70

Analyst: CHUA Wei Ren

Recommendation: Technical Buy

Singtel: Cost Cuts Materializing Nicely

Singtel has adjusted its FY25F EBIT guidance to low double-digit growth year-on-year, with a proposed VRD of 1.4 Scts on top of an interim DPS of 5.6 Scts. The company’s cost-cutting efforts have led to a 230bp year-on-year expansion in its 1H operating profit margin (OPM), and further cost reductions are expected to drive FY26F OPM back to approximately 10%.

Financial Highlights

• FY25F/26F yield: 5.3%/6.0%

Recommendation: Add

Hyphens Pharma International: Slowing Revenue Momentum

Hyphens Pharma International is experiencing a deceleration in its revenue growth. The company’s future performance will need to be closely monitored to assess its ability to regain momentum.

Recommendation: Not Specified

Sime Darby Property Berhad: Stronger 3Q Earnings on the Horizon

Sime Darby Property Berhad is expected to report stronger earnings for the third quarter, indicating a positive outlook for the company. Investors should consider this potential growth when evaluating their investment strategies.

Recommendation: Not Specified

Star Petroleum Refining: Strong 3Q Performance

Star Petroleum Refining has seen robust gross refining margins (GRM) in the third quarter, driven by the restart of its SPM operations. This positive trend is anticipated to continue, bolstering the company’s financial performance.

Recommendation: Not Specified