Golden Agri - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/30/21	DMG & Partners	Golden Agri	0.235	0.22	Neutral
08/17/21	CIMB	Golden Agri	0.24	0.25	Hold
08/17/21	DMG & Partners	Golden Agri	0.24	0.24	Neutral
11/10/21	DMG & Partners	Golden Agri	0.27	0.24	Neutral
11/15/21	CIMB	Golden Agri	0.27	0.281	Hold
11/15/21	DMG & Partners	Golden Agri	0.27	0.25	Neutral
11/15/21	UOB Kay Hian	Golden Agri	0.27	0.18	Sell
01/11/22	DMG & Partners	Golden Agri	0.245	0.24	Neutral
01/11/22	CIMB	Golden Agri	0.245	0.335	Add
02/28/22	DMG & Partners	Golden Agri	0.29	0.26	Neutral
02/28/22	OCBC	Golden Agri	0.29	0.32	Hold
03/03/22	DMG & Partners	Golden Agri	0.305	0.315	Neutral
03/03/22	Lim & Tan	Golden Agri	0.305	0	Accumulate
03/14/22	DMG & Partners	Golden Agri	0.3	0.31	Neutral
04/12/22	DMG & Partners	Golden Agri	0.305	0.31	Neutral
05/13/22	DMG & Partners	Golden Agri	0.28	0.3	Neutral	Sum of parts
05/16/22	CIMB	Golden Agri	0.28	0.3	Hold
05/18/22	OCBC	Golden Agri	0.28	0.3	Hold
07/12/22	CIMB	Golden Agri	0.265	0.3	Hold
08/11/22	DMG & Partners	Golden Agri	0.275	0.29	Neutral	Sum of parts
08/15/22	DMG & Partners	Golden Agri	0.275	0.3	Neutral	Sum of parts
09/02/22	Lim & Tan	Golden Agri	0.275	0.4	Buy

Stock calls for 3 october 2022

Date	Analyst	Company	Last	Target	Call	Valuation
10/03/22	UOB Kay Hian	A-Reit	2.69	3.7	Buy
10/03/22	DBS Vickers	APAC Realty	0.59	0.41	Fully Valued	PER10x FY23
10/03/22	DMG & Partners	APAC Realty	0.59	0.75	Neutral
10/03/22	UOB Kay Hian	ART	0.98	1.29	Buy
10/03/22	DMG & Partners	City Developments	7.6	9.75	Buy
10/03/22	UOB Kay Hian	Frasers Centrepoint Trust	2.17	2.56	Buy
10/03/22	Phillip	Ix Biopharma	0.131	0.25	Buy	DCF
10/03/22	UOB Kay Hian	Lendlease Reit	0.76	0.91	Buy
10/03/22	CIMB	Mapletree Commercial	1.92	2.11	Add
10/03/22	UOB Kay Hian	Mapletree Industrial	2.38	3.12	Buy
10/03/22	UOB Kay Hian	Mapletree Logistics	1.56	1.94	Buy
10/03/22	Lim & Tan	MS Holdings	0.06	0	Reject offer	Takeover price $0.07
10/03/22	DBS Vickers	Propnex	1.5	1.19	Fully Valued	PER13x FY23
10/03/22	Kim Eng	Starhub	1.1	1.32	Buy

The legendary chart for 2022!

What's the legendary chart for 2022?

The chart above is the legendary chart for 2022 because it has explained the outcomes for USD, treasury yield, crypto (bitcoin), and Nasdaq for 2022.  We posted this chart in January 2022.

http://sg-stock.blogspot.com/2022/01/analyses-of-us-main-street-economic_9.html

Let's go through the analyses in steps.

We stated that China would be doing QE for 2022.  What's the effect of QE? The QE would impact china's credit impulse first before affecting the USD.

Let's take a look at the relationship between China's credit impulse and the USD.  The chart below showed an inverse relationship.

http://sg-stock.blogspot.com/2021/06/why-is-there-discrepancy-in.html

With this inverse relationship understanding, the investors will monitor china's credit impulse for the USD trajectory.  Let's look at the latest China credit impulse and USD index.

Next, we stated that the US would be doing a QT.  What's the effect of QT? The QT would impact US Fed rates first, then US treasury yields, and subsequently the stock market (particularly Nasdaq) and crypto (bitcoin).

Let's look at the relationship between Nasdaq and the US 10-year treasury yield.  We can see from the chart that there is an inverse relationship.

http://sg-stock.blogspot.com/2022/05/which-segment-of-stock-market-will-be.html

Let's look at the relationship between bitcoin and Nasdaq.  We can see from the chart that there is a positive correlation.

http://sg-stock.blogspot.com/2022/01/high-correlation-between-bitcoin-and.html

Let's look at the Nasdaq and bitcoin charts in an interest rate-rising environment (2022).

As you can see, our legendary chart had already explained the outcomes for USD, treasury yield, Nasdaq, and bitcoin.

Recession risks are rising!

 The recession probability is over 90% (98.12%) now.

How real is the recession risk?

Let's take a look at the US imports.

How do we interpret the import data?

Export can be defined as "yesterday" demand and import will be defined as "tomorrow" demand.  As the US imports have slowed down, this decline can be interpreted as a reduction in consumption.  The sky-high inflation has taken a toll on the US economy and the Fed rate hikes will expedite the demand destruction.

Simultaneously, the Fed rate hikes have caused mortgage rates to spike close to 7%.

Consequently, the rising mortgage rates have caused a deterioration in housing affordability which may cause a housing crisis (recession risk).

Baltic dry index - 1760

 
Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count (weekly) - 604

Related stock: Sembcorp Marine & Cosco.