China's retaliation has caused more harm to the US stock market than the US's tariffs against China.

5 April 2025 markets:

The US markets had fallen heavily after China's retaliation against the US tariffs and we've stated this on our blog (see below).

https://sg-stock.blogspot.com/2025/04/trumps-tariffs-for-top-dirty-countries.html

The next to retaliate against the US tariffs will be EU and the risk indices will spike further.

The stock market risk/volatility index (VIX) has spiked after the new Trump's tariffs.

The bond market risk/volatility index (MOVE) also spiked simultaneously.

This tariff war is going to drag the global economy down and JPM is the first to declare a US recession in 2025.

Baltic dry index - 1489

Related stock: Seatrium, Cosco & Pan Ocean.

US rig count (weekly) - 590

Related stock: Seatrium & Cosco.

Ossia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/14/24	Lim & Tan	Ossia	0.15	0	Reject Offer	Offer @ $0.145
07/17/24	Lim & Tan	Ossia	0.155	0.145	Accept Offer

OKP - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/01/25	Lim & Tan	OKP	0.565	0.93	Buy

Oiltek - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/10/24	phillip	Oiltek	0.365	0.7	Buy
08/07/24	phillip	Oiltek	0.445	0.7	Buy	PER15x FY24
11/01/24	phillip	Oiltek	0.56	0.7	Buy	PER15x FY24
11/20/24	phillip	Oiltek	0.92	1.19	Buy	PER22x FY25
12/09/24	Lim & Tan	Oiltek	0.96	1.21	Buy
12/11/24	UOB Kay Hian	Oiltek	0.975	1.22	Buy	PER18.9x FY25, PEG0.9x
01/06/25	CIMB	Oiltek	1.03	1.32	Add
02/13/25	UOB Kay Hian	Oiltek	1.15	1.37	Buy	PER19x FY25, PEG0.9x
02/14/25	phillip	Oiltek	1.18	1.48	Buy	PER20x FY25
03/11/25	phillip	Oiltek	1.22	1.48	Buy	PER20x FY25
02/17/25	Lim & Tan	Oiltek	1.17	1.5	Buy	PER20x FY25
03/21/25	Lim & Tan	Oiltek	1.16	1.43	Buy
03/27/25	UOB Kay Hian	Oiltek	1.15	1.44	Buy	PER20x FY25, PEG0.8x

Stock calls for 4 April 2025

Date	Analyst	Company	Last	Target	Call	Valuation
04/04/25	Lim & Tan	Centurion	1.23	1.45	Accumulate on weakness
04/04/25	UOB Kay Hian	Comfortdelgro	1.48	1.76	Buy	PER16x FY25
04/04/25	UOB Kay Hian	Keppel DC Reit	2.13	2.55	Buy	DDM
04/04/25	CIMB	Netlink	0.89	1	Add
04/04/25	DBS Vickers	ST Engineering	6.75	7.5	Buy
04/04/25	phillip	Wee Hur	0.46	0.62	Buy	Sum of parts