The US core inflation report was benign in July.

The core inflation (M-O-M) had risen by 0.2% in July without any fanfare.

In short, the recent spikes in July crude oil prices didn't cause raw material costs to surge beyond expectations.  Thus, we would consider this inflation report to be benign and the FED won't regret putting its rates on hold recently.

Hong Leong Finance - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/30/26	DBS Vickers	Hong Leong Finance	2.69	3.2	Buy	PB0.7x FY26

Hong Leong Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/18/25	UOB Kay Hian	Hong Leong Asia	1.88	2.63	Buy	Sum of parts
08/19/25	DBS Vickers	Hong Leong Asia	1.95	2.8	Buy	Sum of parts
08/25/25	OCBC	Hong Leong Asia	2.4	3.4	Buy
09/15/25	UOB Kay Hian	Hong Leong Asia	2.43	2.82	Buy	Sum of parts
11/26/25	UOB Kay Hian	Hong Leong Asia	2.13	2.82	Buy	Sum of parts
01/29/26	UOB Kay Hian	Hong Leong Asia	3.15	4.2	Buy	Sum of parts
02/02/26	OCBC	Hong Leong Asia	3.43	3.5	Buy	DCF
02/27/26	DBS Vickers	Hong Leong Asia	3.06	3.9	Buy	Sum of parts
02/27/26	OCBC	Hong Leong Asia	3.06	4.2	Buy	DCF
03/03/26	UOB Kay Hian	Hong Leong Asia	3.1	4.71	Buy	Sum of parts
03/27/26	Lim & Tan	Hong Leong Asia	2.85	4.2	Accumulate
03/30/26	DBS Vickers	Hong Leong Asia	2.84	3.9	Buy	Sum of parts
04/22/26	DBS Vickers	Hong Leong Asia	3.17	3.9	Buy	Sum of parts
04/22/26	UOB Kay Hian	Hong Leong Asia	3.17	4.9	Buy	Sum of parts
05/04/26	UOB Kay Hian	Hong Leong Asia	2.91	4.9	Buy	Sum of parts
05/11/26	CIMB	Hong Leong Asia	3.29	5.5	Add	Sum of parts
05/12/26	DBS Vickers	Hong Leong Asia	3.39	4.28	Buy	Sum of parts
06/03/26	UOB Kay Hian	Hong Leong Asia	3.26	4.9	Buy	Sum of parts
08/04/26	UOB Kay Hian	Hong Leong Asia	2.94	4.9	Buy	Sum of parts
08/11/26	DBS Vickers	Hong Leong Asia	3.08	4.28	Buy	Sum of parts

Ho Bee - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/06/26	DBS Vickers	Ho Bee	2.18	2.82	Buy	RNAV (50% disc)

Stock calls for 12 August 2026

Date	Analyst	Company	Last	Target	Call	Valuation
08/12/26	OCBC	Capitaland Integrated Commercial Trust	2.59	2.69	Buy
08/12/26	DBS Vickers	Delfi	0.87	1	Hold
08/12/26	DBS Vickers	Digicore Reit	0.475	0.7	Buy	DCF
08/12/26	Kim Eng	Info-Tech System	0.97	1.46	Buy	PER
08/12/26	DBS Vickers	MoneyMax	0.86	1.13	Unrated	PER11.5x FY26
08/12/26	CIMB	Netlink	0.985	1.07	Add	DDM
08/12/26	Lim & Tan	Singland	3.45	0	Accumulate on weakness
08/12/26	Kim Eng	Soon Hock	0.59	0.81	Buy	RNAV
08/12/26	Lim & Tan	Soon Hock	0.59	0.81	Accumulate

Red alert: The AI bloodbath is not over yet! - Part 6

We had highlighted robot as one of the 5 promising sectors to invest in China/HK in our previous post and we would to share more information about the robot industry in China.

China is a market leader in humanoid robots (97% global market share) because of its massive market size, robotic technology and manufacturing capability.

Unitree robots (Kungfu robots) has been the main attraction on China media "New Year Celebration Gala" and its recent IPO is more than 8000 oversubscribed.

As unitree current production ouput is just around 12,000 units per annum, it is unable to fulfill the domestic and overseas demands.  Therefore, we've sourced for other alternatives to capitalize on this investment opportunity.

Another China robot company that is similar to Unitree is Ubtech and it is listed in HK.  However, Ubtech production output is only around 6000 units per annum, about 50% lesser than Unitree.

Alternatively, we can invest in some China EV companies that are also venturing into humanoid production.  For examples, Xpeng, Xiaomi and BYD are also producing their own humanoids soon.

Xpeng will start its mass production of IRON humanoids in 2027 and its production output can reach 12,000 units per annum.

BYD and Xiaomi have not started their mass production yet but they've built their prototypes already.

Given the high valuation placed on Unitree, we can extrapolate and infer that these EV firms (Xpeng, Xiaomi and BYD) with high humanoid production capabilities will achieve higher valuations for their stocks too.  Cheers!

Haw Par - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/23/26	Macquarie	Haw Par	15.9	20.6	outperform

Hafary - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/07/26	Tickrs Financial	Hafary	0.465	0.58	Buy

GuocoLand - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/18/25	DBS Vickers	GuocoLand	1.76	2	Buy	RNAV (50% disc)
09/01/25	DBS Vickers	GuocoLand	1.86	2.5	Buy	RNAV (45% disc)
10/08/25	DBS Vickers	GuocoLand	2.06	2.5	Buy	RNAV (45% disc)
01/30/26	DBS Vickers	GuocoLand	2.68	3.3	Buy	RNAV (35% disc)
04/06/26	uSMART	GuocoLand	2.37	3.17	Buy
07/03/26	Lim & Tan	GuocoLand	2.14	3.3	Accumulate

Stock calls for 11 August 2026

Date	Analyst	Company	Last	Target	Call	Valuation
08/11/26	DBS Vickers	Boustead	1.91	2.56	Buy	Sum of parts
08/11/26	Kim Eng	Centurion	1.63	1.69	Buy
08/11/26	Kim Eng	Coliwoo	0.51	0.74	Buy	PER12x FY27
08/11/26	phillip	DBS	76.33	79	Accumulate	GGM, PB3.25x FY26
08/11/26	phillip	Elite ComReit	0.315	0.41	Buy	DDM
08/11/26	DBS Vickers	Elite ComReit	0.315	0.4	Buy	DCF
08/11/26	DBS Vickers	ESR-Reit	2.45	3.2	Buy	DCF
08/11/26	CIMB	Ever Glory Uinited Holdings	0.86	1.1	Add	PER
08/11/26	DBS Vickers	Hong Leong Asia	3.08	4.28	Buy	Sum of parts
08/11/26	Kim Eng	Justco	0.64	1.02	buy	EV/Ebitda (cash)
08/11/26	UOB Kay Hian	OCBC	30.3	33.35	Buy	GGM, PB2.22x FY27
08/11/26	phillip	OCBC	30.3	31.7	Accumulate	GGM, PB2.31x FY26
08/11/26	OCBC	SGX	24.51	24.62	Hold
08/11/26	phillip	UOB	43.3	43	Hold	GGM, PB1.46x FY26
08/11/26	DBS Vickers	UOB Kay Hian	4.14	4.8	Buy	PER15x FY27
08/11/26	Lim & Tan	UOB Kay Hian	4.14	4.8	Accumulate
08/11/26	DMG & Partners	Venture	17.19	20.78	Buy
08/11/26	DBS Vickers	Yangzijiang Maritime	0.62	0.88	Buy	PB1.4x
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

Red alert: The AI bloodbath is not over yet! - Part 5

The semiconductor industry in China is having a burgeoning growth right now and we don't want our readers to miss the great opportunity.

Huawei has invented the Tau logicfolding technique that can help China to achieve 1.4nm chip production by 2030 just by using a DUV machine and not the ASML EUV machine.

As we've highlighted the semiconductor as one of  the 5 promising sectors to invest in, we will reveal the  rates of developments for the semiconductor industry in China.

Not only has China doubled its semiconductor exports from the  previous year, it has also increased its local chip output by 350% in a year because China has been replacing imported chips with its domestic chips.

Therefore, the top semiconductor manufacturers in China will be able to capture this tremendous growth for exports and local chip consumption.  As a result, it is better to buy into these top China semiconductor manufacturers before they release their earnings.

Conversely, we've also highlighted HK as one of  the attractive places to invest in.  The hang seng index (HSI) will be having a review on 21 August 2026 and this review will include some new promising stocks and exclude some existing stocks.  The new revisions will compel the HSI ETF fund mangers to buy the new entrants and sell the dropouts.  One of the new entrants will be the AI sector that we've highlighted in our earlier post and this will also be a good opportunity for investors.

We hope that our posts will help our readers to make better and informed investment decisions.  Cheers!

The Iran war situation report. - Part 100

It looks like Trump is trying to bow out of his illegal Iran war.  Why?

Iran knew that Trump was running out of time and the US was running out of muntions.  Thus, Iran took advantage of the US predicament and imposed some stringent demands but Trump didn't retort those harsh Iranian demands like before.

Despite the tough terms set by Iran for the US, Trump didn't become belligerent like before.  Instead, Trump was willing to end the war without any nuclear deal.

Upon seeing the dovishness in Trump, Iran became emboldened and insisted that the US acceptance was necessary for Hormuz to reopen.

Just as we've projected previously, the US has lost this illegal Iran war and Iran is dictating the peace deal terms now.

The Iran war situation report. - Part 99

The US has no bargaining chip for this illegal Iran war anymore because Iran is dictating the peace deal now (see below).  This is unlikely to happen when the US still has the upperhand but it is not.

The US has no choice but to accede to Iran's terms and the Gulf states are willing to pay for the toll and service fees to end this illegal war because they can't tolerate much longer.  Therefore, Iran will emerge as a victorious WINNER and the gulf states will pivot towards Iran as the islamic leader in the middle east.  Consequently, the US will lose its influence in the middle east and it won't reinstate its US military bases in the gulf states to their original conditions (before the war).  Simultaneously, the gulf states also won't allow the US to have a major influence in the middle east anymore because they DO NOT want to be hit by Iran ever again.

Grand Banks Yacht - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/27/25	Lim & Tan	Grand Banks Yacht	0.745	1.12	Buy	PER10.6x FY26
11/21/25	Lim & Tan	Grand Banks Yacht	0.785	0	Buy
01/28/26	Lim & Tan	Grand Banks Yacht	0.82	1.33	Buy
06/05/26	Lim & Tan	Grand Banks Yacht	0.72	1.49	Buy	PER14.8x

Golden Agri - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/18/25	OCBC	Golden Agri	0.3	0.3	Hold
04/23/26	DMG & Partners	Golden Agri	0.305	0.3	Neutral

Geo Energy - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/04/25	Phillip	Geo Energy	0.39	0.47	Buy	DCF
09/09/25	Lim & Tan	Geo Energy	0.425	0.58	Buy
09/26/25	Phillip	Geo Energy	0.45	0.59	Buy	DCF
09/30/25	Lim & Tan	Geo Energy	0.475	0.59	Buy
11/26/25	Phillip	Geo Energy	0.43	0.59	Buy	DCF
12/23/25	Amfrasers	Geo Energy	0.43	0.76	outperform	DCF
03/02/26	Lim & Tan	Geo Energy	0.415	0.425	Hold
03/16/26	Phillip	Geo Energy	0.54	0.75	Buy	DCF
03/19/26	Amfrasers	Geo Energy	0.525	1.02	outperform	DCF
05/11/26	Lim & Tan	Geo Energy	0.61	0.8	Buy
05/18/26	Amfrasers	Geo Energy	0.58	1.27	outperform	DCF
05/25/26	Lim & Tan	Geo Energy	0.5	0.93	Buy
06/02/26	Phillip	Geo Energy	0.47	0.75	Buy	DCF
06/23/26	Lim & Tan	Geo Energy	0.435	1	Accumulate
07/20/26	Lim & Tan	Geo Energy	0.54	0.8	Accumulate