Red alert: US inflation is indeed rising! - Part 2

The latest consumer inflation expectation had risen to 3.9% after both the ISM manufacturing and services prices had spiked.

The high oil and diesel prices will keep the US inflation elevated and the US has to raise its Fed rates one more time in December 2026 to slow the inflation down.

Yanlord - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/15/25	DBS Vickers	Yanlord	0.585	0.5	Hold	PB0.17x
08/19/25	DBS Vickers	Yanlord	0.62	0.58	Hold	PB0.2x

Yangzijiang Shipping - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/07/25	UOB Kay Hian	Yangzijiang Shipping	2.63	3.45	Buy	PER8.6x
08/07/25	DBS Vickers	Yangzijiang Shipping	2.63	3.8	Buy	PB2.5x FY25, PER11x FY25
08/07/25	CIMB	Yangzijiang Shipping	2.63	3.9	Add	PER
09/01/25	DBS Vickers	Yangzijiang Shipping	2.91	3.8	Buy	PB2.5x FY25, PER11x FY25
09/04/25	UOB Kay Hian	Yangzijiang Shipping	3.06	3.6	Buy	PER8.5x
09/29/25	Lim & Tan	Yangzijiang Shipping	3.28	3.73	Accumulate on weakness
10/10/25	DBS Vickers	Yangzijiang Shipping	3.44	3.8	Buy	PB2.5x FY25, PER11x FY25
10/27/25	UOB Kay Hian	Yangzijiang Shipping	3.47	3.9	Buy	PER9.3x FY26
11/18/25	DBS Vickers	Yangzijiang Shipping	3.42	3.8	Buy	PB2.5x FY25, PER11x FY25
11/19/25	UOB Kay Hian	Yangzijiang Shipping	3.26	4.1	Buy	PER9.3x FY26
11/20/25	CIMB	Yangzijiang Shipping	3.35	4.51	Add	PER
12/08/25	UOB Kay Hian	Yangzijiang Shipping	3.43	4.1	Buy	PER9.3x FY26
01/29/26	UOB Kay Hian	Yangzijiang Shipping	3.35	4.1	Buy	PER9.3x FY26
02/27/26	UOB Kay Hian	Yangzijiang Shipping	3.92	4.6	Buy
02/27/26	DBS Vickers	Yangzijiang Shipping	3.92	4.55	Buy	PB2.6x FY26, PER11x FY26
02/27/26	CIMB	Yangzijiang Shipping	3.92	4.95	Add	PER
03/10/26	UOB Kay Hian	Yangzijiang Shipping	4.1	4.6	Buy
03/11/26	DBS Vickers	Yangzijiang Shipping	4.05	4.55	Buy	PB2.6x FY26, PER11x FY26
03/11/26	CIMB	Yangzijiang Shipping	4.05	4.95	Add	PER
03/11/26	Lim & Tan	Yangzijiang Shipping	4.05	4.44	Accumulate on weakness
03/27/26	Kim Eng	Yangzijiang Shipping	3.85	4.15	Hold	DCF
04/26/26	UOB Kay Hian	Yangzijiang Shipping	3.83	4.75	Buy	PER10x FY26
05/07/26	UOB Kay Hian	Yangzijiang Shipping	4.14	4.75	Buy	PER10x FY26
05/20/26	DBS Vickers	Yangzijiang Shipping	3.94	4.55	Buy	PB2.6x FY26, PER11x FY26
05/21/26	CIMB	Yangzijiang Shipping	3.81	4.95	Add	PER
06/22/26	UOB Kay Hian	Yangzijiang Shipping	3.69	4.75	Buy	PER10x FY26
07/08/26	DBS Vickers	Yangzijiang Shipping	3.48	4.55	Buy	PB2.6x FY26, PER11x FY26
07/22/26	CIMB	Yangzijiang Shipping	3.73	5.1	Add	PER
08/07/26	DBS Vickers	Yangzijiang Shipping	3.94	4.55	Buy	PB2.6x FY26, PER11x FY26
08/07/26	CIMB	Yangzijiang Shipping	3.94	5.1	Add	PER
08/11/26	UOB Kay Hian	Yangzijiang Shipping	4.2	5.3	Buy	PER9.1x FY28
08/11/26	DBS Vickers	Yangzijiang Shipping	4.2	5.6	Buy
08/11/26	CIMB	Yangzijiang Shipping	4.2	5.75	Add	PER
09/01/26	UOB Kay Hian	Yangzijiang Shipping	4.84	5.3	Buy	PER9.1x FY28
09/24/26	UOB Kay Hian	Yangzijiang Shipping	5.18	5.9	Buy	PER10.1x FY28

Yangzijiang Maritime - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/21/25	DBS Vickers	Yangzijiang Maritime	0.695	0.85	Buy	PB1.4x
04/06/26	phillip	Yangzijiang Maritime	0.52	0.69	Buy	PB1x FY26
04/08/26	DBS Vickers	Yangzijiang Maritime	0.54	0.88	Buy	PB1.4x
04/15/26	Lim & Tan	Yangzijiang Maritime	0.66	0.78	Accumulate
07/14/26	DBS Vickers	Yangzijiang Maritime	0.555	0.88	Buy	PB1.4x
08/11/26	DBS Vickers	Yangzijiang Maritime	0.62	0.88	Buy	PB1.4x
08/20/26	phillip	Yangzijiang Maritime	0.58	0.68	Accumulate	PB1x FY26

Stock calls for 8 October 2026

Date	Analyst	Company	Last	Target	Call	Valuation
10/08/26	JPM	DBS	77.49	63	Underweight
10/08/26	JPM	OCBC	30.3	20.5	Underweight
10/08/26	DBS Vickers	Soilbuild Construction	0.49	0.93	Unrated	PER7.5x FY27
10/08/26	Lim & Tan	Top Glove	0.265	0.28	Accumulate on weakness
10/08/26	UOB Kay Hian	United Hampshire	0.45	0.63	Buy	DDM
10/08/26	JPM	UOB	42.44	38	Neutral

Red alert: Iran war is resuming! - Part 2

The Iran war is really resuming!

Trump is manipulating the financial market again without any consideration for his mid-term election.  He is just focusing on profiteering from the Iran war instead of retaining control of both the congress houses.

If Trump really resumes the Iran war just before the mid-term election, he is doomed to lose both the congress houses as many politicians and americans are against the Iran war.

Last but not least, the US will suffer heavy casualties if it embarks on a large scale attack against Iran because Iran will retaliate against the US with full force and those pro-US Gulf states will suffer tremendously too.

Yangzijiang Financial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/09/25	CIMB	Yangzijiang Financial	1.09	1.25	Add	Sum of parts
10/02/25	Lim & Tan	Yangzijiang Financial	1.18	1.25	Hold
11/21/25	DBS Vickers	Yangzijiang Financial	0.5	0.48	Hold	PB0.9x (ex-maritime)

XMH - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/16/25	Lim & Tan	XMH	0.153	0	Accumulate

Winking - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/25/25	Amfrasers	Winking	0.255	0.31	Outperform	DCF
05/05/26	Amfrasers	Winking	0.23	0.3	Outperform	DCF
09/15/26	Amfrasers	Winking	0.21	0.29	Outperform	DCF

Stock calls for 7 October 2026

Date	Analyst	Company	Last	Target	Call	Valuation
10/07/26	DMG & Partners	DBS	78.56	81.2	Buy	GGM, PB3x FY27
10/07/26	Macquarie	Jardine C&C	29.3	23.5	Underperform
10/07/26	Macquarie	Jardine Matheson	54.65	80	outperform
10/07/26	Phillip	JEP	0.525	0.83	Buy	PER28x FY27
10/07/26	Citi Research	OCBC	32.2	27.5	Sell	GGM, PB1.8x FY27
10/07/26	Lim & Tan	Seatrium	1.98	2.46	Accumulate
10/07/26	Kim Eng	Singtel	4.25	5.21	Buy	Sum of parts
10/07/26	DMG & Partners	UOB	43.72	47.6	Buy	GGM, PB1.3x FY27

Red alert: US inflation is indeed rising!

The US is a service oriented economy and the services' prices have been rising consecutively to 74 points.  Furthermore, the manufacturing prices are also rising due to the Iran war and the burgeoning growth in AI expenditures.

However, the US Fed is not expected to raise its Fed rates in October because of the upcoming mid-term election in November.  Therefore, the US Fed will resume raising its Fed rates in December 2026.

Wing Tai - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/27/25	Lim & Tan	Wing Tai	1.4	0	Hold
09/30/26	Lim & Tan	Wing Tai	1.54	0	Hold

Wilmar - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/12/25	DBS Vickers	Wilmar	2.97	3.8	Buy	PER12.1x FY25
08/13/25	UOB Kay Hian	Wilmar	2.97	3.45	Buy	Sum of parts
08/13/25	CIMB	Wilmar	2.97	2.7	Reduce
09/02/25	DBS Vickers	Wilmar	2.96	3	Hold	PER11.7x FY26
09/26/25	Lim & Tan	Wilmar	2.89	0	Avoid
09/26/25	DMG & Partners	Wilmar	2.89	2.5	Sell	Sum of parts
09/29/25	CIMB	Wilmar	2.85	2.7	Reduce
10/09/25	CIMB	Wilmar	2.89	3.3	Add	PER
10/21/25	Lim & Tan	Wilmar	2.95	3	Avoid
10/31/25	UOB Kay Hian	Wilmar	3.12	3.5	Buy	Sum of parts
10/31/25	DBS Vickers	Wilmar	3.12	3	Hold	PER11.7x FY26
11/03/25	CIMB	Wilmar	3.13	3.6	Add
11/03/25	DMG & Partners	Wilmar	3.13	3	Neutral	Sum of parts
11/14/25	OCBC	Wilmar	3.36	3.58	Buy
11/14/25	Kim Eng	Wilmar	3.36	3.12	Hold	DCF
01/08/26	Aletheia Capital	Wilmar	3.09	2.5	Sell	Cut from $3.49
02/03/26	UOB Kay Hian	Wilmar	3.4	3.5	Buy	Sum of parts
02/27/26	DBS Vickers	Wilmar	3.5	3	Hold	PER11.7x FY26
03/02/26	CIMB	Wilmar	3.52	3.6	Hold	PER
03/02/26	OCBC	Wilmar	3.52	3.97	Buy
03/02/26	DMG & Partners	Wilmar	3.52	3.45	Neutral
03/10/26	Kim Eng	Wilmar	3.53	3.85	Buy	DCF
03/10/26	DBS Vickers	Wilmar	3.9	3	Hold	PER11.7x FY26
04/30/26	DBS Vickers	Wilmar	3.83	3.6	Hold	PER12.2x FY26
04/30/26	DMG & Partners	Wilmar	3.83	3.55	Neutral
08/13/26	UOB Kay Hian	Wilmar	3.94	3.5	Hold	Sum of parts
08/13/26	DBS Vickers	Wilmar	3.94	3.6	Hold	PER12.2x FY26
08/14/26	CIMB	Wilmar	3.71	3.6	Hold	PER
08/14/26	DMG & Partners	Wilmar	3.71	3.85	Neutral
08/18/26	Aletheia Capital	Wilmar	3.67	5	Buy
09/25/26	UOB Kay Hian	Wilmar	3.65	3.8	Hold	Sum of parts, PER11.5x FY27