To The Moon

Last Week's Recap

1. The US Market - U.S. Stock Market Faces Downward trend Amid Mixed Economic Signals

• Downward trend:The major U.S. stock indexes fell around 1% to 2% as shifting narratives about AI prospects and technology stocks continued to drive the broader market.

• Jobs resilience:U.S. jobs growth in more than double exceeded expectations, helping to ease recent concerns about labor market weakness.

• Inflation moderation:CPI rose at an annual rate of 2.4% in January, down from 2.7% the previous month, and the lowest figure since May 2025.

• Earnings outperformance: Nearly three-quarters completed earnings release, overall earnings growth remained well above analysts’ expectations.

• Yields fall from about 4.20% to 4.05%: Prices of U.S. government bonds rose, sending yields lower, after softer-than-expected inflation data boosted investor optimism about the prospect of additional interest rate cuts in the coming months.

• GDP ahead:A report scheduled for release on Friday，the government’s release of its initial GDP estimate follows the 4.4% annual growth rate recorded in the 3rd quarter, which was the fastest in 2 years.

2. The US Sectors & Stocks - Tech Sector Faces Volatility Amid Earnings Reports and AI Concerns

Sectors: Utilities and Basica Marterial Industry lead weekly gains and the financial Sector lead the loss. The technology sector experienced significant volatility this week, with the S&P 500 falling 1.39% and closed at 6836.17. Major tech stocks like Apple, Goog, and AMZN faced declines due to investor concerns over AI spending and market disruptions.

• $Apple(AAPL)$ dropped 8.03%, driven by delays in the rollout of an advanced Siri version and rising memory costs, resulting in a significant market value loss.

• $Cisco(CSCO)$ fell 9.4% despite reporting better-than-expected Q2 earnings due to softer revenue guidance and rising memory-chip prices.

• $Meta Platforms, Inc.(META)$ fell 3.28% amid ongoing regulatory scrutiny and market concerns over AI disruptions.

• $NVIDIA(NVDA)$ faced a 1.4% decline amid concerns over AI spending and competition risks, despite positive market trends for big tech companies.

• $Oracle(ORCL)$ jumped 12.13% after Q2 earnings beat, with cloud revenue up 52% on AI demand and RPO surging 50% to $97 billion. The Meta AI partnership and bullish 2030 guidance fueled the rally.

• $Quantumscape Corp.(QS)$ dropped 8.74% after reporting a Q4 loss, though it beat analyst estimates and highlighted aggressive goals for 2025.

• $Wal-Mart(WMT)$ rose 2.07%, continued to hit ATH, after several analysts raised their price targets, reflecting confidence in the company's future performance.

• $Spotify Technology S.A.(SPOT)$ jumped 8.45% after reporting strong Q4 earnings and user growth, surpassing market expectations.

• $Rivian Automotive, Inc.(RIVN)$ surged 19.8% after reporting better-than-expected Q4 earnings and raising its delivery guidance for 2026, driven by the launch of the more affordable R2 SUV.

• $Fastly, Inc.(FSLY)$ soared 113.07% following record Q4 revenue and significantly exceeding earnings estimates. The company raised its 2026 revenue guidance.

• $AppLovin Corporation(APP)$ saw a 3.98% decrease due to concerns about AI's impact on growth, However, strong Q4 earnings and a 66% revenue surge.

3. Hong Kong Market - HSI slightly added 0.03% amid mixed market performance

$HSI(HSI)$ The Hang Seng Index (HSI) experienced a marginal increase of 0.03% and closed at 26,567.12. The market showed mixed performance with technology and financial sectors facing pressure, while new stocks and AI application concepts remained active.

• $TENCENT(00700)$ fell 2.83%, hurt by weak tech stocks abroad and AI competition fears. Investors doubt heavy marketing spending can last. Near-term pressure persists; watch for AI monetization.

• $PING AN(02318)$ rose 1.08%, lifted by strong life insurance recovery and higher asset returns. Morgan Stanley and CICC raised targets to HKD 89.

• $CHINA LIFE(02628)$ slipped 1.84% after an all-time high. Fundamentals stay solid (new business value +42%), but the stock more than doubled this year. Profit-taking kicked in after a 10-year peak.

• $WUXI BIO(02269)$ saw a significant rise of 6.16%, driven by an optimistic earnings forecast with expected revenue growth of 16.7% and a net profit increase of 46.3% for 2025, surpassing market expectations.

• $LENOVO GROUP(00992)$ slight increased of 0.1% after reported a record revenue of $22.2 billion for the third quarter of the 2025/26 fiscal year, with AI-related revenue surging 72%, representing 32% of total revenue.

• $XIAOMI-W(01810)$ experienced a 4.72% increase, buoyed by strong performance in the electric vehicle sector and strategic business moves, including the cessation of its first-generation SU7 model production.

• $HUA HONG SEMI(01347)$ faced a slight decline of 0.5%, despite positive market sentiment towards its AI and domestic substitution demand, which are seen as key growth drivers.

• $NTES-S(09999)$ decreased of 1.38%, as the company continues to show strong financial results with a 21% increase in annual operating profit for 2025.

• $MEITU(01357)$ decreased of 0.64%, despite expectations of a 60%-66% increase in adjusted net profit for 2025, driven by growth in imaging and design product revenue and international paid subscription users.

4. Singapore Market - STI slightly increase of 0.07%

The $Straits Times Index(STI.SI)$ saw a modest rise of 0.07% and closed at 4871.74.

The index touched historical high at 5021.27 but closed lower due to the influence by mixed corporate earnings and significant developments in the real estate sector. Despite some fluctuations, the market remained relatively stable.

• $Singtel(Z74.SI)$ saw a weekly gain of 4.03% after reported a 9.5% increase in its third-quarter underlying net profit, driven by strong contributions from its Indian associate Bharti Airtel and Thailand's Advanced Info Service (AIS).

• $SGX(S68.SI)$ added 3.78%, the group raised their dividends, signaling strong earnings performance and management's confidence in their financial health.

• $YZJ Shipbldg SGD(BS6.SI)$ added 0.59%,The shipbuilder benefits from a super-cycle in global shipbuilding, with record order books and 2024 net profit surging over 50%. Aggressive shareholder returns through dividends and buybacks, plus capacity expansion, drive sustained momentum.

• $Keppel(BN4.SI)$ added 7.8%, Record FY2025 recurring income and a 38% dividend hike validated its successful transition to a sustainable solutions provider. Strong institutional backing and long-term decarbonization contracts support further re-rating.

• $DBS(D05.SI)$ saw a weekly decrease of 3.8%.The bank missed profit expectations due to NIM compression and one-off tax costs, with cautious 2026 guidance triggering profit-taking. However, a 38% dividend increase and extended capital return plan provide downside support.

• $CapLand IntCom T(C38U.SI)$ decline of 0.16%, it entered into a Joint Development Deed for a mixed-use project at Hougang Central.

5. Australian Market - ASX 200 sees a 2.4% rise

$S&P/ASX 200(XJO.AU)$ : The Australian stock S&P/ASX 200 Index rose 2.4% at 8933.5,The market was influenced by mixed corporate earnings and significant corporate deals.

Sectors: Financials led with a 4.2% gain on strong bank earnings, while Materials rose 3.8% on robust mining output. Multi-Utilities gained 2.74% weekly and rose over 4 weeks now. Tech Companies surged 3.78% on AI enthusiasm, while Pharmaceutical Companies and Gold Mining Stocks gained 1.14% and 1.07% respectively.

• $Australia and New Zealand Banking Group Ltd(ANZPJ.AU)$ added 0.63%, the ANZ preference share benefited from stable dividend yield appeal amid market volatility, with investors seeking defensive income-generating assets.

• $COMMONWEALTH BANK OF AUSTRALIA(CBA.AU)$ surged 10.88%, Australia's largest lender reported strong first-half cash profit of A$5.13 billion and lifted its interim dividend by 12% to A$2.25 per share. The bank's net interest margin expanded and cost growth slowed.

• $Rio Tinto PLC(RIO)$ rose 8.06%, the mining giant benefited from robust iron ore shipments and higher copper prices. It maintained its full-year production guidance and announced progress on its Oyu Tolgoi copper project, reinforcing its growth outlook.

• $BHP GROUP LTD(BHP.AU)$ gained 4.8%, the world's largest miner reported record December quarter iron ore production of 134 million tonnes and raised its FY26 copper production target. Strong operational performance and positive China demand sentiment drove the rally.

• $NEWMONT CORP-CDI(NEM.AU)$ added 9.25%, the gold miner benefited from elevated gold prices near record highs and solid fourth-quarter production results. The company's cost discipline and portfolio optimization efforts supported the re-rating.

• $PRO MEDICUS LTD(PME.AU)$ plunged 25.0% despite reporting strong H1 financial results with net income of AUD 171.2 million and adjusted pretax profit of AUD 90.7 million. The market punished the high-valuation healthtech stock as growth expectations moderated.

• $AERIS RESOURCES LTD(AIS.AU)$ climbed 3.0%, the copper-gold miner announced the acquisition of Peel Mining in a A$214 million deal, expanding its resource base and production profile. The accretive nature of the transaction supported the share price.

• $PLS Group Ltd(PLS.AU)$ gained 2.7%, the lithium producer signed a 2-year binding offtake agreement with China's Canmax Technologies to supply 150,000 tonnes per annum of spodumene concentrate. The deal provided revenue visibility and demand from battery makers.

The Week Ahead

1. Macro Factors -Economic Data and Earnings Reports to Watch This Week

• This week, markets will be closely monitoring a series of economic data releases and earnings reports. The personal consumption expenditures price index from the Bureau of Economic Analysis on Friday is a key highlight.

• On Wednesday, the Census Bureau will release the durable goods report, with economists forecasting a 1.7% decline in new orders for durable manufactured goods. The Federal Open Market Committee will also release the minutes of its last monetary-policy meeting.

• Investors will be watching for the Bureau of Economic Analysis' advance estimate of fourth-quarter GDP growth on Friday, with economists forecasting a 2.8% annual growth rate.

• Additionally, the S&P Global Manufacturing and Services PMIs for February will be released, with consensus estimates of 52.3 and 53.0, respectively.

• Praemium has requested a trading halt on the Australian Securities Exchange pending an update on a proposed organizational restructure, with trading expected to resume by Wednesday.

2. Earnings Spotlight: BHP,PANW, OXY, WMT, DE

Approximately 50 S&P 500 companies are set to report earnings this week.

Notable reports include Cadence Design Systems and Palo Alto Networks on Tuesday, $Analog Devices(ADI)$ and $Booking Holdings(BKNG)$ on Wednesday, and $Deere(DE)$ and Walmart on Thursday.

• $Wal-Mart(WMT)$ (Thursday pre-market) — America's largest retailer, earnings will reflect consumer spending health and serve as a key sentiment indicator for the broader market.

• $Figma(FIG)$ — Leader in collaborative design tools, first standalone earnings report since Adobe acquisition fell through, watch for AI feature monetization progress.

• $DoorDash, Inc.(DASH)$ (Wednesday after-hours) — Food delivery platform, focus on path to profitability and market share dynamics.

• $Palo Alto Networks(PANW)$ (Tuesday after-hours) — Cybersecurity leader, AI security demand is the key highlight.

⚠️ Disclaimer: Not financial advice. Investment involves risk. This advertisement has not been reviewed by the Monetary Authority of Singapore.

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