DAILY MORNING NOTE | 12 June 2025
Recent Podcasts:
Semiconductor 1Q25 Update – AI demand offsets impact from US export controls
Sea Ltd. – Outperformance likely to continue, but valuations stretched
BRC Asia Ltd – Still record order book
Trade of The Day
Contemporary Amperex Technology Co. Ltd. (HKEX: 3750)
Analyst: Zane Aw
(Current Price: HKD308.40) – TECHNICAL BUY
Buy price: HKD308.40 Stop loss: HKD297.00 (-3.69%)
Take profit 1: HKD322.40 (+4.53%) Take profit 2: HKD343.40 (+11.34%)
SoFi Technologies, Inc. (NASDAQ: SOFI)
Analyst: Zane Aw
(Current Price: US$14.39) – TECHNICAL BUY
Buy stop: US$14.48 Stop loss: US$13.23 (-8.63%)
Take profit 1: US$16.60 (+14.64%) Take profit 2: US$18.40 (+27.07%)
Trades Initiated in Past Week
Local stocks fell for the second straight day on Wednesday, bucking the gains in most Asian markets as investors are concerned about the lack of details in the recently concluded US-China trade talks. In Singapore, the local benchmark index fell 0.4% or 14.75 points to end at 3,919.05. Across the broader market, gainers beat losers 310 to 183, with around 1.1 billion securities worth S$1.2 billion changing hands.
US Stocks closed lower on Wednesday as traders weighed a preliminary U.S.-China trade agreement and new inflation data. The market’s recent run higher took a breather as major indexes ended the session near previous closing levels. The S&P 500 lost 0.27% to end the day at 6,022.24, snapping a three-day win streak. The Nasdaq Composite fell 0.5% to 19,615.88. The Dow Jones Industrial Average shed a mere 1.1 points, closing at 42,865.77.
Singapore Technical Highlights
* ^ denotes companies placed on SGX Watch-list
TOP 5 GAINERS & LOSERS
Events Of The Week
SG
CapitaLand China Trust (CLCT)’s wholly owned subsidiary has entered into the ProjectCo Equity Transfer Agreement for the sale of CapitaMall Yuhuating to CapitaLand Commercial C-REIT (CLCR).
Enviro-Hub Holdings has been granted an option to purchase a leasehold property at 1 Tech Park Crescent for $5.55 million, and through its subsidiary, it will pay 4% of the purchase consideration by way of a letter of nomination, according to a bourse filing on June 11. The wholly-owned subsidiary of the company, Cimelia Resource Recovery, has accepted and exercised the option on June 11 to pay $220.000, or 4% of the total purchase consideration to the vendor of the property, Leoch Battery.
Samko Timber will cease quarterly reporting of its financial statements with immediate effect, after being placed on the quarterly reporting list by the SGX RegCo in the 3QFY2024. After the release of the financial statements for the financial year ended Dec 31, 2024, the company’s external auditors have issued an unqualified audit opinion without any material uncertainty relating to going concern.
Novus Corporate Finance, the independent financial advisor (IFA) appointed to oversee the partial offer of a 10% stake in Cordlife Group by Medeze Group, is of the opinion that the financial terms of the partial offer are not fair and reasonable. Medeze Group, a leader in Southeast Asia stem cell storage and services market, announced plans to acquire a 10% stake in Cordlife, or 25.63 million shares on May 13, for 25 cents per share.
US
Oracle raised its annual revenue growth forecast on Wednesday, betting on robust demand for its cloud offerings from companies deploying artificial intelligence, sending its shares up more than 7% after the bell.
For fiscal 2026, Oracle expects total revenue to be at least $67 billion, CEO Safra Catz said on a post-earnings call. With the new forecast, annual revenue is expected to grow by around 16.7%, compared with Oracle’s prior projection of a 15% growth.
The Air Force has cut in half its request to Congress for its signature F-35s, dealing a blow to Lockheed Martin Corp., the top US defence contractor. A Defense Department procurement request document sent to Capitol Hill this week asked for 24 of the planes, down from 48 that was forecast last year.
Tesla plans to launch its robotaxi service in Austin, Texas, tentatively on June 22, according to CEO Elon Musk.
Musk made the announcement in a post on X late Tuesday. He noted that the launch date might change as the company is being “super paranoid about safety.”
Meta Platforms has unveiled V-JEPA 2, a new world model that improves AI’s ability to understand and predict physical interactions. The company announced Thursday that this state-of-the-art model enables robots and other AI agents to better comprehend the physical world and anticipate how it will respond to actions. These capabilities are crucial for developing AI systems that can “think before they act.”
Walt Disney Company and Universal Corporation have filed the entertainment industry’s first major lawsuit against a generative AI company, accusing image generator Midjourney of large-scale copyright infringement. The studios allege Midjourney built its business by training on their intellectual property and enabling users to produce high-quality images of characters like Darth Vader, Elsa, Shrek, and the Minions… all without permission.
Nvidia will build its first artificial intelligence cloud platform for industrial applications in Germany, CEO Jensen Huang said at the VivaTech conference in Paris on Wednesday. The technology, which will combine AI with robotics, will help carmakers such as BMW and Mercedes-Benz with processes from simulating product design to managing logistics.
Underlying US inflation rose in May by less than forecast for the fourth month in a row, suggesting companies are finding ways to limit how much of higher costs from tariffs they pass through to customers. The consumer price index, excluding the often volatile food and energy categories, increased 0.1% from April, according to Bureau of Labor Statistics data out Wednesday. From a year ago, it rose 2.8%.
The US and China de-escalated trade tensions, agreeing to a preliminary deal on how to implement the consensus the two sides reached in Geneva, negotiators for both sides said. While the full details of their accord weren’t immediately available, US negotiators said they “absolutely expect” that issues around shipments of rare earth minerals and magnets will be resolved with the framework implementation. “We have reached a framework to implement the Geneva consensus,” US Commerce Secretary Howard Lutnick told reporters in London.
Source: SGX Masnet, Bloomberg, Channel NewsAsia, Reuters, CNBC, WSJ, The Business Times, The Edge Singapore, PSR
RESEARCH REPORTS
PSR Stocks Coverage
For more information, please visit:
Upcoming Webinars
Corporate Insights by Yoma Strategic [NEW]
Date & Time: 18 June 25 | 12PM-1PM
Register: poems-20250618-122129
Corporate Insights by Keppel Infrastructure Trust (KIT) [NEW]
Date & Time: 24 June 25 | 12PM-1PM
Register: poems-20250624-122131
Strategy & Stock Picks 3Q2025 – US Market [NEW]
Date & Time: 28 June 25 | 12PM-2PM
Register: poems-20250628-122731
Strategy & Stock Picks 3Q2025 – SG Market [NEW]
Date & Time: 28 June 25 | 2PM-4PM
Register: poems-20250628-122735
POEMS Podcast:
Research Videos
Weekly Market Outlook: Valuetronics, META, Technical Analysis, SG Weekly
Date: 9 June 2025Click here for more on Market Outlook.
Sign up for our webinars here, and be among the first to receive economy and market updates.
PHILLIP RESEARCH IN 3 MINS
Join our Singapore Equity Research Community on POEMS Mobile 3 App for the latest research reports, market updates, insights and more
Disclaimer
The information contained in this email and/or its attachment(s) is provided to you for information only and is not intended to or nor will it create/induce the creation of any binding legal relations. The information or opinions provided in this email do not constitute an investment advice, an offer or solicitation to subscribe for, purchase or sell the e investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise. You may wish to seek advice from an independent financial adviser before making a commitment to purchase or investing in the investment product(s) mentioned herein. In the event that you choose not to do so, you should consider whether the investment product(s) mentioned herein is suitable for you. PhillipCapital and any of its members will not, in any event, be liable to you for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on any information in and/or materials attached to this email. The information and/or materials provided 揳s is?without warranty of any kind, either express or implied. In particular, no warranty regarding accuracy or fitness for a purpose is given in connection with such information and materials.
Confidentiality Note
This e-mail and its attachment(s) may contain privileged or confidential information, which is intended only for the use of the recipient(s) named above. If you have received this message in error, please notify the sender immediately and delete all copies of it. If you are not the intended recipient, you must not read, use, copy, store, disseminate and/or disclose to any person this email and any of its attachment(s). PhillipCapital and its members will not accept legal responsibility for the contents of this message. Thank you for your cooperation.
Follow our Socials