Stock calls for 1 November 2024

Date	Analyst	Company	Last	Target	Call	Valuation
11/01/24	UOB Kay Hian	ART	0.905	1.38	Buy	DDM
11/01/24	Phillip	ART	0.905	1.04	Buy	DDM
11/01/24	UOB Kay Hian	China Sunsine	0.455	0.58	Buy	PER7.5x FY25
11/01/24	UOB Kay Hian	Civmec	1.13	1.4	Buy	PER12x FY25
11/01/24	UOB Kay Hian	CSE Global	0.43	0.59	Buy	PER13x FY24
11/01/24	UOB Kay Hian	Dairy Farm	2.38	2.57	Buy	PER16.7x
11/01/24	phillip	Far East Hospitality	0.62	0.75	Buy	DDM
11/01/24	Kim Eng	Far East Hospitality	0.62	0.8	Buy
11/01/24	CIMB	Far East Hospitality	0.62	0.78	Add	DDM
11/01/24	DBS Vickers	First Reit	0.265	0.29	Buy	DCF
11/01/24	Lim & Tan	First Reit	0.265	0.29	Accumulate on weakness
11/01/24	UOB Kay Hian	Lendlease Reit	0.575	0.73	Buy	DDM
11/01/24	UOB Kay Hian	Mapletree Industrial	2.4	3.05	Buy	DDM
11/01/24	UOB Kay Hian	Marco Polo	0.056	0.061	Buy	PER9.5x FY24
11/01/24	UOB Kay Hian	OCBC	15.19	18.5	Buy	GGM, PB1.38x FY25
11/01/24	phillip	Oiltek	0.56	0.7	Buy	PER15x FY24
11/01/24	UOB Kay Hian	Seatrium	1.9	2.8	Buy	PB1.4x
11/01/24	UOB Kay Hian	Sembcorp Industries	5.04	7.47	Buy	PER12.8x FY24
11/01/24	DMG & Partners	Sheng Siong	1.59	2	Buy	PER21x FY25
11/01/24	UOB Kay Hian	Singapore Post	0.545	0.61	Buy	Sum of parts
11/01/24	DBS Vickers	UOB	32.16	34.5	Buy
11/01/24	UOB Kay Hian	Venture	13.3	16.17	Buy	PER17x FY25
11/01/24	UOB Kay Hian	Wilmar	3.2	3	Hold	Sum of parts
11/01/24	DBS Vickers	Wilmar	3.2	4.3	Buy	PER12x FY24
11/01/24	Lim & Tan	Wilmar	3.2	0	Take Profit

Cryptos such as Bitcoin (BTC) are coming to an end! Why? - Part 9

Italy has fired its first salvo against cryptos with its new capital gain tax of 42% for 2025.  The rest of EU will also follow suit in the future.

https://sg-stock.blogspot.com/2024/10/cryptos-such-as-bitcoin-btc-are-coming.html

Cheating in US presidential election!

No wonder Trump proclaimed that his previous election was stolen by Biden because it was happening again.

US core PCE inflation is not in a decline anymore.

The monthly core PCE is 0.3% and the yearly core PCE is 2.7%.

The monthly core PCE inflation seems to be rearing its head again.

Just as we've projected before, there was not much room left for inflation to fall any further.

https://sg-stock.blogspot.com/2024/10/the-us-core-inflation-is-not-bottoming.html

Hot news! US treasury secretary wants to exterminate stablecoins!

 
What about other cryptos?

We've stated our views before (See below).

https://sg-stock.blogspot.com/2024/10/cryptos-such-as-bitcoin-btc-are-coming.html

The US Q3 2024 GDP has underperformed its Q2 GDP.

US Q3 GDP: 2.8% 

Let's break down the Q3 GDP to see what are the changes compared to Q2.

GDP = G + I + C + NE

Q2 GDP (Final estimate) = 0.52 + 1.47 + 1.9 + (-0.9) = 2.99 (3)

Q3 GDP (First estimate) = 0.85 + 0.07 + 2.46 + (-0.56) = 2.82 (2.8)

We can see that the government spending (0.85), consumption (2.46) and net export (-0.56) have improved from Q2 GDP but the investment (0.07) has a significant drop that wipes out all the improvements.  This denotes that the investment climate in the US is deteriorating massively.

However, we have our doubts about the veracity of the US GDP, particularly the consumption and net export.  The US GDP subcomponent (net export) doesn't sync with the deteriorating BDI (see below).

https://sg-stock.blogspot.com/2024/10/baltic-dry-index-1410.html

We had stated previously that the US couldn't hide its slowing economy soon.

https://sg-stock.blogspot.com/2024/10/the-us-cant-hide-its-slowing-economy.html

NikkoAM-STC Asia Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/25/24	phillip	NikkoAM-STC Asia Reit	0.766	0.82	Accumulate
09/27/24	phillip	NikkoAM-STC Asia Reit	0.855	0.845	Accumulate