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Pacific Radiance Ltd (SGX: RXS)

Analyst: Zane Aw

(Current Price: S$0.116) – TECHNICAL BUY
Buy price: S$0.116 Stop loss: S$0.111 (-4.31%)
Take profit: S$0.133 (+14.65%)

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Wall Street ended mixed on Thursday, as Nvidia and other technology stocks dipped, while defence companies advanced after President Donald Trump called for an enlarged US$1.5 trillion military budget. Nvidia slid 2.2 per cent, Broadcom declined 3.2 per cent and Microsoft dipped 1.1 per cent. The S&P 500 technology index lost 1.5 per cent, leaving it down about 1 per cent so far in 2026, as investors grew more finicky about AI-related stocks whose valuations have been inflated by outsized gains in recent years.

Singapore stocks ended lower on Thursday (Jan 8), amid a weak regional showing. Stocks lost 0.2 per cent or 8.55 points to finish at 4,739.07. Across the broader market, gainers trailed losers 271 to 300, after 1.4 billion securities worth S$1.7 billion changed hands.


Singapore Technical Highlights

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Events Of The Week

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Breaking News

SG

CapitaLand Investment Limited on Thursday (Jan 8) announced plans for its regional fund to develop a S$260 million automated facility in Singapore. It also announced a minority investment in smart logistics infrastructure company, Ally Logistic Property (ALP), which will lease the facility. CLI’s CapitaLand South-east Asia Logistics Fund (CSLF) has acquired a 5.1-hectare (ha) site at 19 Gul Lane in the Jurong Industrial Estate to develop the project – Omega 1 Singapore.

The parent company of China Aviation Oil will merge with Chinese state-owned oil and gas enterprise Sinopec, the board of CAO said in a bourse filing on Thursday (Jan 8).

DBS Group Holdings is weighing a foray into the market for significant risk transfers (SRTs) as lenders increasingly turn to such deals as a way to drive growth and absorb shocks.

Indonesian coal producer Geo Energy said on Thursday (Jan 8) that it has completed its acquisition of majority stakes in two Indonesian shipping companies. The deal – to buy 51 per cent stakes in Trans Maritim Pratam and Bahari Segara Maritim – with a consideration of US$127.5 million (S$163.8 million), was first proposed in August 2025.

UI Boustead Real Estate Investment Trust (Reit) is gearing up for a listing in Singapore as early as March, targeting proceeds of at least S$900 million.

OUE Real Estate Investment Trust (OUE Reit) is in “exclusive talks” with Mitsubishi Estate Asia for a potential acquisition of a partial stake in Salesforce Tower in Sydney.


US

Ride-hailing giant Grab and Chinese automaker GAC inked a partnership to deploy an initial 20,000 electric vehicles (EVs) across South-east Asia. This will involve the introduction of three of the Chinese player’s models – Aion Y, Aion ES, and Aion V – across various countries in the region, including Singapore, Malaysia and Indonesia, a Grab statement said on Thursday (Jan 8).

General Motors said on Thursday it would take a US$6 billion charge to unwind some electric-vehicle investments, the latest car company to pull back from EVs in response to the Trump administration’s policies and fading demand. The charge stems from reducing its planned EV production and the fallout on the supply chain.

Trump said that he was directing the purchase of US$200 billion in mortgage bonds, which he cast as his latest effort to bring down housing costs ahead of the November midterm election. Trump announced the move on Thursday (Jan 8) in a social media post.

The US trade deficit unexpectedly narrowed in October to the smallest since 2009 on a sharp pullback in imports. The goods and services trade gap shrank 39 per cent from the prior month to US$29.4 billion, Commerce Department data showed Thursday (Jan 8).

A group of banks led by Barclays is shopping a roughly US$2.6 billion debt deal to support Blackstone’s effort to combine two of its power grid equipment suppliers. The financing is expected to include about US$2 billion of first-lien debt and a US$560 million second-lien loan.

US companies announced fewer layoffs last month while planning more hiring, potentially easing fears of a sharper slowdown in the labour market. Companies announced 35,553 job cuts in December, the lowest since July 2024, and down substantially from elevated readings in the prior two months.

Anthropic, the high-flying artificial intelligence (AI) startup that makes the Claude chatbot, plans to raise US$10 billion in funding that would value it at roughly US$350 billion, nearly doubling its valuation from just four months ago.

Elon Musk persuaded a judge on Wednesday to allow a jury trial on his allegations that ChatGPT maker OpenAI violated its founding mission in its high-profile restructuring to a for-profit entity.

Nvidia is requiring full upfront payment from Chinese customers seeking its H200 artificial intelligence chips, hedging it against ongoing uncertainty over Beijing’s approval of the shipments. The US chipmaker has imposed unusually stringent terms requiring full payment for orders with no options to cancel, ask for refunds or change configurations after placement.

JPMorgan Chase and Apple on Wednesday (Jan 7) announced a deal under which the bank will become the new issuer of the Apple Card, replacing Goldman Sachs, further expanding the biggest US bank’s credit card franchise.


Source: SGX Masnet, Bloomberg, Channel NewsAsia, Reuters, CNBC, WSJ, The Business Times, The Edge Singapore, PSR


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