Stock calls for 10 October 2023

Date	Analyst	Company	Last	Target	Call	Valuation
10/10/23	CIMB	APAC Realty	0.52	0.57	Add
10/10/23	DBS Vickers	Comfortdelgro	1.33	1.65	Buy
10/10/23	CIMB	Comfortdelgro	1.33	1.55	Add
10/10/23	UOB Kay Hian	Frencken	1.05	1.23	Buy	PER12.6x FY24
10/10/23	DBS Vickers	Keppel Reit	0.83	1.15	Buy
10/10/23	Lim & Tan	Keppel Reit	0.83	1.01	Accumulate
10/10/23	Lim & Tan	Singtel	2.38	3.09	Accumulate
10/10/23	DMG & Partners	ST Engineering	3.81	4.45	Buy
10/10/23	Kim Eng	Top Glove	0.22	0.224	Hold	Ringgit target $0.77, Cut from $0.80
10/10/23	UOB Kay Hian	Top Glove	0.22	0.257	Hold	Ringgit target $0.88, Cut from $0.95
10/10/23	Citi Research	Top Glove	0.22	0.198	Sell	Ringgit target $0.68
10/10/23	Ambank	Top Glove	0.22	0.175	Sell	Ringgit target $0.60

Jiutian - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/12/22	CIMB	Jiutian	0.096	0.18	Add
08/28/23	UOB Kay Hian	Jiutian	0.038	0.18	Buy

Jardine Matheson - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/07/23	Lim & Tan	Jardine Matheson	50.82	65.26	Accumulate
04/05/23	Lim & Tan	Jardine Matheson	48.89	65.46	Accumulate

Japfa - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/01/22	UOB Kay Hian	Japfa	0.585	0.63	Hold	Sum of parts, PER9.1x FY22, Buy @ $0.56
09/01/22	CIMB	Japfa	0.6	0.81	Add	Sum of parts
11/02/22	UOB Kay Hian	Japfa	0.53	0.57	Hold	Sum of parts, PER10.3x FY23
11/02/22	CIMB	Japfa	0.53	0.72	Add	Sum of parts
01/04/23	CIMB	Japfa	0.315	0.42	Add	PER8x FY24, Cut from $0.65
03/07/23	UOB Kay Hian	Japfa	0.245	0.23	Hold	Sum of parts, PER10x FY23
03/07/23	CIMB	Japfa	0.245	0.24	Reduce
08/03/23	CIMB	Japfa	0.22	0.2	Reduce

Stock calls for 9 October 2023

Date	Analyst	Company	Last	Target	Call	Valuation
10/09/23	DBS Vickers	ART	0.895	1.3	Buy
10/09/23	DBS Vickers	Cromwell EUR	1.27	2	Buy
10/09/23	Lim & Tan	CSE Global	0.44	0.6	Buy
10/09/23	UOB Kay Hian	Keppel Reit	0.83	1.06	Buy	DDM
10/09/23	UOB Kay Hian	Mapletree Industrial	2.19	2.76	Buy	DDM

Beware! The US Fed is having a phlebotomy now!

The US Fed is shedding its assets now which will unnerve the treasury and stock markets.  Let's take a look at the US Fed balance sheet now.

The impacts of the FED shedding will be felt later in the treasury and stock markets.

Baltic dry index - 1929

Related stock: Sembcorp Marine, Cosco & Pan Ocean.

US rig count (weekly) - 619

Related stock: Sembcorp Marine & Cosco.