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以下是我们每日内容的其中的片段。会员可以用ID和PASSWORD进入网站阅读完整的内容.

The following are excerpts of our past daily updates. Members may login using ID and password to view our full market updates.

Recent Market Update Excerpts:

16-11-2024 (Sat) 8.15am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

" 近期多家外资机构都在乐观地预测中国经济增长，并表示看好中国股市，上调中国股票评级。

野村首席中国经济学家陆挺上调了对中国第四季度GDP和全年GDP增长的预测。

瑞士百达资产管理将中国股票评级从“中性”上调至“超配”，理由是经济前景强劲。

中国出台提振经济和救市措施一个以后，消费、地产指标回暖，可能有望实现5%的经济增长。但在特朗普就任前，中国股市可能不会贸贸然上涨，但中长期还是被看好。

股市还在调整修正。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

" Recently, many foreign institutions have forecasted China's economic growth optimistically, having expressed optimism about the Chinese stock market, and upgraded the ratings of Chinese equities.

Lu Ting, chief China economist at Nomura, raised his forecasts for China's fourth-quarter GDP and full-year GDP growth.

Swiss Pictet Asset Management upgraded Chinese equities from "neutral" to "overweight" on the grounds of strong economic prospects.

After China introduced stimulus measures to boost the economy and the stock market, consumption and real estate indicators rebounded, and it is hopeful that China may achieve its 5% economic growth. But before Trump takes office, China's stock market may possibly not rise too rashly, but there is still optimism for the Chinese market in the medium and long term.

The stock market is still undergoing adjustment and consolidation. "

15-11-2024 (Fri) 7.45am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"市场还在调整中。

新加坡已连续4天下跌股多过上升股，其实也在调整中。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"The market is still adjusting downwards.

The Singapore market had more declining stocks than rising stocks for four consecutive days, and is actually also consolidating. "

13-11-2024 (Wed) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"美国大选后，股市不断上涨，海指和道指已触及长期的阻力线，需要调整修正。市场开始进行调整，但也是可趁股市下跌时，趁低吸购，前提是什么时候，我个人认为可在本月迟些时候才进场。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"After the US election, the stock market continued to rise. The STI and the Dow have hit the long-term resistance line and need a downside adjustment. The market has begun to adjust downwards, but it may also be possible to buy at lower prices when the stock market falls. The question is when to do that. I personally think we may consider doing that later this month. "

11-11-2024 (Mon) 10.30am
全国人民代表大会常务委员会上周五宣布的 10 万亿美元刺激计划处于最初市场预期的上限。但也有些人认为特朗普胜选后,将对中国征收更高的关税,所以中国的刺激配套应该高于 10 万亿美元。无论如何，在需要的时候,北京随时还是可以做出调整,推出更多刺激措施的。由于北京决心推出刺激措施解决经济问题与实现增长目标,并且许多优质中港股的估值还算处于合理较低价位，上海和香港股市前景还是视为较乐观的。特朗普一般极端对付中国的作风是中港股的一大风险,所以考虑中国国内或亚洲主要业绩的中港公司的股票可能较为适当...

随着滨海湾金沙和亚洲各国的综合赌场度假胜地的竞争，云顶新加坡公布净利下降63%, 博彩收入下降28%,其股价上周五也下跌6%。今年 5 月，菲律宾新建了另一个综合赌场度假胜地，该国另外还有多达 8 个赌场项目正在规划中。据《海峡时报》报道，菲律宾预计 2024 年博彩总收入将达到 3360 亿比索（77.6 亿新元）的新高，比 2023 年创纪录的 2850 亿比索增长 18%,据菲利宾的预计已开始逼近我国年率博彩总收入。据报道，泰国也在推进赌场计划，而这些新的竞争者也将影响云顶新加坡股票的股价与情绪。云顶新加坡投入 68 亿新元发展圣淘沙名胜世界 2.0, 几项新景点将在 2025 年第一季度之前开幕。圣淘沙名胜世界 2.0 里头设有新的海滨开发项目，整个工程将分阶段完成，这对云顶新加坡的盈利贡献有多大,还有待观察。

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission. )

The $10 trillion stimulus package announced by the Standing Committee of the National People's Congress last Friday was at the upper end of initial expectations. Some could be expecting a higher package following Trump's win which would possibly lead to more aggressive tariffs against China. However, Beijing can always make adjustments and introduce more stimulus measures as and when is needed. There is still optimism in Shanghai and Hong Kong stocks due to the reasonably low valuations of many quality stocks and Beijing's determination to roll out stimulus measures to resolve economic issues and meet their growth targets. Trump's extreme approach towards China is a major risk for China and Hong Kong stocks, and therefore, it may be more appropriate to consider stocks of China and Hong Kong companies with their main businesses in Mainland China or Asia...

Amid competition from Marina Bay Sands, and integrated resorts in Asia, Genting Singapore announced a 63% drop in net profits with a 28% decline in its gaming revenue, and its share price dropped 5.4% last Friday. Another new integrated resort was built in the Philippines in May this year, and there are up to 8 more casino projects being planned in the Philippines. According to the Straits Times, the Philippines expects gross gaming revenue to reach a new high of 336 billion pesos (S$7.76 billion) in 2024, up 18% from 2023’s record 285 billion pesos, and is approaching Singapore's annual gross gaming revenue according to estimates from Philippines. Thailand is also reportedly forging ahead with casino plans, and all these new competitions will weigh on the sentiment and share price of Genting Singapore. The upcoming S$6.8 billion Resort World Sentosa (RWS) 2.0 development from Genting Singapore would see new attractions opened in Resort World Sentosa by the first quarter of 2025. The RWS 2.0, which includes a new waterfront development, will be completed in phases, and it remains to be seen how much it would contribute to the bottomline of Genting Singapore.

09-11-2024 (Sat) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"中国十四届全国人大常委会第十二次会议审议通过近年来力度最大的化债举措，直接增加地方化债资源10万亿元。力度强大，将会提振经济和股市。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"The Standing Committee of the 14th National People's Congress (NPC) concluded its 12th session on Friday, having approved the most powerful debt relief measures in recent years, directly increasing local government debt relief resources by 10 trillion yuan. The powerful measures announced will boost the economy and the stock market."

08-11-2024 (Fri) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"美国大选特朗普和共和党大胜，一切都顺顺利利，并没有发生美国人担忧的暴动，这已消除了一个重大的不确定因素，对股市有利。也对12月和明年的股市可能因降息和美国大选后的效应有帮助，可开始布局，迎接可能即将到来的涨潮。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"Trump and the Republican Party won a landslide victory in the US election. Everything went smoothly. There was no riot that Americans were worried about. This has eliminated a major uncertainty factor, which is good for the stock market. It may also help provide a boost to the stock market in December and next year due to the effects of interest rate cuts and the US election. We may start strategizing for a possible upcoming rally. "

07-11-2024 (Thu) 7.45am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"预言“特朗普落选，美国会乱。特朗普当选，世界会乱”如今特朗普已当选，而且是大胜，连参、众议院都可能受共和党控制，让特朗普方便推行政策，美股暴涨。美股狂飙，带不动欧股上涨，德国DAX还大跌216.96点，法国股市也下跌。据说特斯拉老板马斯克将加入特朗普治国的团队，而且据说会被重用，这位天才是否会使世界不会乱？"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"There was a prediction that "If Trump loses, the U.S. will be in chaos. If Trump wins, the world will be in chaos. " Trump has been elected as President, having won a landslide victory. Even both the Senate and the House of Representatives may be controlled by the Republicans, making it easier for Trump to implement policies. The US stock market skyrocketed, and although the US stock market has soared, it did not lead European stocks higher. The German DAX even plunged 216.96 points, and the French stock market also plummeted. It is said that Tesla boss Musk will join Trump's team to govern the country, and that he will be greatly used by Trump. Will this genius be able to keep the world from chaos?"

06-11-2024 (Wed) 8.15am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"中国股市不断传来好消息，提振中港股市大涨。中国总理李强周二上午在上海出席第七届中国国际进口博览会（进博会）开幕式时说，中央政府推出一系列增量政策后，说明中国政府有能力推动经济持续向好，因此中国对实现今年的经济发展目标充满信心。

中国不断大放救市措施，上证指数和沪深300指数在周二都收在四周高位。

10月财新中国通用服务业经营活动指数（服务业PMI）为52，高过9月1.7个百分点，为近三个月高点。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"Good news continues to come out of China, boosting the Chinese and Hong Kong stock markets. Chinese Premier Li Qiang said at the opening ceremony of the 7th China International Import Expo (CIIE) in Shanghai on Tuesday morning that after the central government launched a series of incremental policies, it showed that the Chinese government has the ability to bring about the continued improvement of the economy, and China is full of confidence in achieving this year's economic targets.

China continues to implement stimulus measures, and the Shanghai Composite Index and the CSI 300 Index both closed at a four-week high on Tuesday.

In October, China's Caixin Services PMI came in at a near 3-month high of 52, rising 1.7 from the previous month's value in September.

Hong Kong's S&P Global PMI rose from 50.0 in September to 52.2 in October, the highest in a year and a half, reflecting that the business environment in Hong Kong has begun to improve."

05-11-2024 (Tue) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"巴菲特的伯克希尔2024年第三季报显示，伯克希尔在三季度净出售了约361亿美元的股票，其中包括约1亿股的苹果股票，以及几亿美元的美国银行股票。伯克希尔第二季度减持苹果股票接近50%之后，在第三季度再次减持了25%。已经从年初的9.05亿股骤降至3亿股，持有市值也从1743亿美元跌至699亿美元。伯克希尔本季度还自2018年以来首次暂停回购自家股票。伯克希尔的现金储备飙升至3252亿美元的历史新高，这一数据较年初的1680亿美元大幅攀升。

巴菲特以惊人的速度抛售股票，囤积大量现金，似乎向市场暗示他对美股的估值太高的担忧。

比亚迪10月汽车销量暴增66％，创历史新高，达到创纪录的50万零526辆。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"The 2024 third-quarter report of Buffett's Berkshire Hathaway showed that Berkshire sold a net of about $36.1 billion in stocks in the third quarter, including about 100 million shares of Apple and several hundred million dollars worth of Bank of America shares. After Berkshire reduced its holdings of Apple shares by nearly 50% in the second quarter, it reduced its Apple holdings by another 25% in the third quarter. Its Apple holdings has dropped sharply from 905 million shares at the beginning of the year to 300 million shares, with the market value of Apple holdings dropping from US$174.3 billion to US$69.9 billion. Berkshire also suspended its own stock repurchases this quarter for the first time since 2018. Berkshire's cash reserves soared to a record high of US$325.2 billion, a sharp increase from US$168 billion at the beginning of the year.

Buffett's selling of stocks at an alarming rate and hoarding of large amounts of cash seem to hint to the market that he is concerned that the valuation of US stocks is too high.

BYD's auto sales soared 66% in October, reaching a record high of 500,526 vehicles. "

04-11-2024 (Mon) 9.30am
巴菲特的伯克希尔·哈撒韦(Berkshire Hathaway)在第三季度继续抛售其持有的美国股票，这包括卖掉其持有的苹果和美国银行的部分股票。第三季度，伯克希尔哈撒韦卖掉了361亿美元的股票，只买入了15亿美元，已是该公司连续第八个季度成为股票净卖家，并已将持有的现金提高到创纪录的3252亿美元。

02-11-2024 (Sat) 7.45am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"一般认为特朗普获胜将提振美国股市，因他将降低公司税，有利于企业。但美国银行与花旗两大银行的观点却相反，都建议如果特朗普胜选、并且其后股市上涨，投资者应马上抛股离场。

我个人认为美国大选后，有大涨应卖出，暂时离场，因其股价已太高。如果是大跌，则可在11月适当的调整后买进，以迎接美国大选后的涨潮。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"It is generally believed that Trump's victory will boost the US stock market because he will reduce corporate taxes, which is beneficial to businesses. However, the two major banks, Bank of America and Citigroup, have the opposite view, and both banks recommended that if Trump wins the election and the stock market rises afterwards, investors should sell their stocks immediately and exit the market.

I personally think that after the US election, if there be a big rise, you should sell your shares and temporarily exit the market because the stock prices are too high. If there be a big drop, you may consider buying shares after the pullback in November is completed, and await for the next rally after the US election. "

28-10-2024 (Mon) 8.30am
陈奕利先生今年早些时候曾多次建议买入新加坡本地股票，尤其是政联(government-linked)股票。（请参阅 2024 年 8 月 31 日、2024 年 8 月 9 日、2024 年 8 月 7 日、2024 年 3 月 26 日、2024 年 2 月 15 日、2024 年 1 月 25 日的 Ecomm 讯息）。8 月 9 日的股市讯息，他写道：“前景看来不错。我个人认为本地股价还在低点，还是可以投资。” 8 月 31 日的股市讯息，他提到 “新加坡大选的脚步渐近，政联公司可注意”

让我们看看本地政联公司目前的股价表现：
星展银行：8月12日：$33.98 10月25日：$39.15（上涨 +15.2%）
吉宝：8月12日：$5.95 10月25日：$6.51（上涨 +9.4%）
新翔：8月12日：$3.03 10月25日：$4.01（上涨 +32.3%）
胜科：8月12日：$4.63 10月25日：$5.27（上涨 +13.8%）
新航：8月12日：$5.90 10月25日：$6.47（上涨 +9.7%）
新科工程：8月12日：$4.25 10月25日： $4.72 (上涨 +11.1%)
海指 8月12日：3235点 10月25日：3593点 (上涨 +11.1%)

由于股市已大幅上扬，再加上美国大选的不确定性以及中东紧张局势加剧，所以考虑有利现套利应该是没错的。

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission. )

Mr Tan Yi Li had repeatedly recommended the buying of local Singapore stocks earlier this year, especially the buying of government-linked stocks. (Please refer to Ecomm market updates in 31 Aug 2024, 9 Aug 2024, 7 Aug 2024, 26 Mar 2024, 15 Feb 2024, 25 Jan 2024). In the 9th August market update, he wrote that "the market outlook looks good. I personally think that local stock prices are still low, and we may still look to invest in local stocks." In the 31 August market update, he mentioned that "As the general election of Singapore approaches, we may look out for government-linked companies"

Here is a look at how local government linked stocks had performed now (compared to in August):
DBS:         12 Aug: $33.98   25 Oct: $39.15 (Up +15.2%)
Keppel:    12 Aug: $5.95    25 Oct: $6.51 (Up +9.4%)
SATS:       12 Aug: $3.03    25 Oct: $4.01 (Up +32.3%)
Sembcorp: 12 Aug: $4.63    25 Oct: $5.27 (Up +13.8%)
SIA:       12 Aug: $5.90    25 Oct: $6.47 (Up +9.7%)
ST Eng:    12 Aug: $4.25    25 Oct: $4.72 (Up +11.1%)
STI         12 Aug: 3235 pts   25 Oct: 3593 pts (Up +11.1%)

As the market has gone up much, and in the light of uncertainties in the U.S. elections and rising geopolitical tensions in the Middle East, it is never wrong to consider taking profits.

25-10-2024 (Fri) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"国际货币基金组织预测新加坡2024年实际国内生产总值（GDP）将增长2.6%，2025年将增长2.5%。两个预测值均高于国际货币基金组织在今年4月做出的预测，当时报告预测2024年和2025年的增速分别为2.1%和2.3%。显示新加坡的经济在好转中。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"The International Monetary Fund (IMF) predicts that Singapore's real gross domestic product (GDP) will grow by 2.6% in 2024 and 2.5% in 2025. Both forecasts are higher than the previous forecast made by the IMF in April this year at the growth rates of 2.1% and 2.3% in 2024 and 2025 respectively. It showed that Singapore's economy is improving."

19-10-2024 (Sat) 7.45am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"中国央行星期五启动一项新的流动性工具推动股票回购，同时官方正在考虑进一步下调银行的存款准备金率。股市又再大涨，上海股市涨2.91%，深圳股市涨4.71%。香港股市也涨3.61%。我们提过的中芯国际（SMIC 0981.hk）周五上涨4.25港币,或16.35%，报30.25港币。中国是全球使用晶片最多的国家，中芯国际是中国最大的晶圆厂，中国可能即将不再使用外国的晶片，如果完全改用本国货，中芯国际的前景将是无可限量。有下跌可买进作长期投资。用手机也可买卖这只股票。（图表请参看ECOMM网站)

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"The People's Bank of China launched a new liquidity tool on Friday to promote stock buybacks, while officials are also considering further reducing banks' deposit reserve ratios. The stock market rose again, with the Shanghai stock market up 2.91% and the Shenzhen stock market up 4.71%. The Hong Kong stock market also rose 3.61%. SMIC (0981.hk) rose HK$4.25, or 16.35%, to HK$30.25 on Friday. China is the country that uses the most semiconductor chips in the world, while SMIC is China's largest manufacturer of semiconductor chips. China may no longer use foreign semiconductor chips, and if it completely switches to domestic chipmakers, the prospect of SMIC will be limitless. If there be declines in its stock price, you may consider buying it for long-term investment. This stock may also be traded on your mobile phone. (See the chart on ECOMM website)

16-10-2024 (Wed) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"中国和香港股市因之前涨势过急，现在在回调休正，实属正常，有了这些修正，现在我们已可开始投资，而中港股市还在低价位，中国还会继续出招，不会让牛市这样就结束。中国应可能会采取慢牛的走势，慢牛更好，因慢牛也是牛，而且是会走得更稳更没有风险。中港股市可能又即将再度吸引投资者的眼光。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"The Chinese and Hong Kong stock markets are now correcting due to the last round of rapid rise. This is normal. With these corrections, we may look to start investing now. The Chinese and Hong Kong stock markets are still at a low price. China will continue to make moves and will not let the bull market end like this. China may adopt a slow bull trend. A slow bull is better because a slow bull is also a bull, and it will be more stable and less risky. The Chinese and Hong Kong stock markets may once again attract investors' attention. "

14-10-2024 (Mon) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"中国财政部宣布将在今明两年推出一批成熟、可感可及的深化财税体系改革举措。将抓紧出台深化财税体制改革实施方案，加快推进改革和推动财政科学管理和有机结合，积极回应社会和基层关切。

中国财长声称中央财政还有较大举债和赤字提升空间。

中国财长还声称中国财政可完成全年预算目标。

中国将加大力度解决地方隐性债问题，计划一次性增加较大规模债务限额，置换地方政府隐性债务。

中国财政部宣布将允许专项债券回收闲置存量土地、也将收购商品房用作保障性住房，以促进房地产市场供需平衡。

中国周六出大招，几乎涵盖所有的难题，如果落实，实必会使股市再度大涨。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"China's Ministry of Finance announced that it will launch a batch of fiscal and tax reforms in the next two years, will promptly issue an implementation plan to accelerate the reforms, and will actively respond to social and grassroots concerns.

China's Finance Minister claimed that the central government still has "large room" for fiscal stimulus.

China's Finance Minister also claimed that China's finances can fully meet the annual budget target.

China will increase its efforts to solve the problems of hidden debts of local governments, and plans to increase the debt ceiling on a large scale in one lump sum to replace the existing hidden debts of the local governments.

China's Ministry of Finance announced that it will allow the use of special bonds to reclaim idle stock land, purchase existing commercial housing, promote the supply of affordable housing, and alleviate inventory risks in the real estate market.

China made a big move on Saturday, covering almost all the problems. If implemented, it will surely provide a boost to the stock markets to rise further."

12-10-2024 (Sat) 8.15am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"银行股财报强劲，显示美国经济实现软着陆。在降息周期时，金融股往往会有不错的表现。

阿波罗分析师Torsten Slok周五表示，在美联储降息周期结束并实现软着陆的情况下，金融类股票往往表现优异。"

如有疑问或需要协助，请Whatsapp讯息至83239883。谢谢。

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"Banking stocks reported strong financial reports, indicating that the U.S. economy is achieving a soft landing. Financial stocks tend to perform well during the interest rate cut cycle.

Torsten Slok, an economist from Apollo, said on Friday that financial stocks tend to perform well when the Federal Reserve interest rate cut cycle ends and the economy achieves a soft landing.

09-10-2024 (Wed) 7.45am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"中芯国际（SMIC 0981.hk）周二下跌6.10港币,或19.32%，报27.20港元，盘中最低跌至26.55港元，已接近25.0支持点。(图表请参看ECOMM网站)"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"SMIC (0981.hk) fell HK$6.10, or 19.32%, to HK$27.20 on Tuesday, having fallen to the intraday low of HK$26.55 at one point, drawing closer to the HK$25.0 support point. (Please refer to the chart on ECOMM website)"

08-10-2024 (Tue) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"新加坡星展银行（DBS）与中国国际贸易促进委员会（China Council for the Promotion of International Trade）建立合作伙伴关系，加强支持中国企业拓展亚细安市场。这次合作旨在帮助中国企业实现国际化，加强在本区域的供应链，创造就业机会，并加速可持续发展。同时，星展银行的区域客户也可以借助贸促会的网络拓展在中国的业务。中国企业也将能够利用星展在大中华区、东南亚和南亚的业务网络。

星展银行（DBS）是本地的龙头股，有好消息就可开始注意。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"Singapore DBS Bank and China Council for the Promotion of International Trade will work together to strengthen support for Chinese companies to expand into the ASEAN market. This cooperation aims to help Chinese companies achieve internationalization, strengthen the supply chain in the region, create jobs, and accelerate sustainable development. At the same time, DBS Bank's regional customers can also use the network of CCPIT to expand their business in China. Chinese companies will also be able to take advantage of DBS's business network in Greater China, Southeast Asia and South Asia.

DBS Bank is a local market leader, and we may start paying attention to it when there is good news. "

07-10-2024 (Mon) 8.59am

在惊人的涨势之后，分析师对中港股市今后的表现看法不一。一些认为这些股市上涨得过多过快，已经超买，应该会回调。其他人则表示，中港股市仍有继续上涨的空间。无论如何，值得注意的是，尽管近期中港股市强力反弹，许多中港的优质股票仍低于三年和五年平均水平，而随着中港股市这三年来的抛售，估值仍然还算是便宜的。

我们今年详细提到的两只值得长期投资的香港股票表现大好。所提过的这两只港股正是中芯国际 SMIC（请参阅Ecomm 2024 年 7 月 29 日、2024 年 5 月 13 日、2024 年 5 月 11 日、2023 年 9 月 25 日的报导）和腾讯 Tencent（请参阅Ecomm 2024 年 5 月 20 日的报导）。

中芯国际（0981.HK）股价在 10 月 4 日飙升 29.3%，有消息称北京方面宣布不鼓励中国人工智能公司购买美国英伟达(Nvidia)芯片，消息出来后推高了中国本土芯片制造公司的股价。中芯国际是一家由中国政府资助并部分拥有的中国芯片制造公司，该公司为华为供应芯片，其股价从 2024 年 9 月 23 日的 16.26 港元暴涨至 2024 年 10 月 4 日的 27.35 港元，涨幅高达 68%。我们在今年早些时候提到中芯国际是一只值得投资的股票时，交易价格仅为 16 多港元。

腾讯（0700.HK）今年积极实行股票回购(stock buybacks),股价近期也飙升。腾讯股价从 9 月 23 日的 387.60 港元跃升至 10 月 4 日的 477.60 港元，涨幅为 23.2%。腾讯拥有 13 亿微信用户，所提供的许多产品也仍处于货币化的早期阶段。当 Ecomm Invest 提到腾讯是一项值得长期投资的公司时，其股价约为 380 港元。

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission. )

There are mixed views among analysts out there as to how these markets will perform from here after the recent spectacular rallies. Some are saying these markets went up too much too soon, are overbought and are due for pullbacks. Others are saying that there are still room for the rally to continue on. In any case, it is good to note that despite the recent strong rallies, many quality stocks in the Hong Kong and Shanghai markets are still trading below their three- and five-year averages, and that valuations are still cheap due to the three-year selloff.

The two Hong Kong stocks that we have mentioned in detail earlier this year as worthy long term investments have done very well. They are none other than SMIC (Please refer to Ecomm updates on 29-Jul-2024, 13-May-2024, 11-May-2024, 25-Sep-2023) and Tencent (Please refer to Ecomm update on 20-May-2024).

Semiconductor Manufacturing International Corporation (SMIC) (0981.HK), surged 29.3% in its share price on 4 October, following the news that Beijing reportedly discouraged Chinese AI firms from buying Nvidia chips, which boosted the share prices of Chinese chipmaking companies. SMIC, a Chinese chipmaking company which is state-funded and partially owned by the Chinese state and which supplies chips for Huawei, surged from HK$16.26 on 23 Sept 24 to HK$27.35 on 4 Oct 24 for a whopping 68% gain. When we mentioned about SMIC as a worthy investment earlier this year, it was only trading at around HK$16++.

Tencent (0700.HK), which have been active in share buybacks this year, has also soared in its share price. Tencent's share price jumped from HK$387.60 on 23 September to HK$477.60 on 4 October, for a 23.2% gain. Tencent has 1.3 billion Wechat users, and many of the products that Tencent offers are still in the early stages of monetization. When Tencent was mentioned here at Ecomm Invest as a worthy long-term investment, it was trading at around HK$380++.

05-10-2024 (Sat) 8.30am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"周三恒生指数大涨623.36点或2.82%，现在还是中港股市的天下，我们提过的中芯国际（0981.hk）单单周五一天就上涨6.2元或29.31%，从21.15元大涨至27.35元,表现很好。我的客户好多人有买这只股，在这恭喜他们。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"The Hang Seng Index surged 623.36 points or 2.82% on Wednesday, as the best performing markets now belong to the Chinese and Hong Kong markets. The SMIC stock (0981.hk) that we mentioned rose $6.2 or 29.31% on Friday alone, surging from $21.15 to $27.35. Its stock price has done extremely well, and my congratulations to many of my clients who have bought this stock. "

01-10-2024 (Tue) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"中国央行星期天又出新招，首套、二套房存量房贷利率批量下调，平均降幅0.5%左右。中国一招接一招，看来不止要提振股市上涨，也可能要保住5%经济增长的设限。周一中国所有的股指都暴涨，气势如虹。中国总理李强星期天要求救市政策相对成熟即马上推出，也几乎是救市政策将会不断的出招，这一次可能是来真的。短短4天，上证指数已大涨605点。顺便给大家看看令人咂舌的上证综指惊人的走势。(图表请参看ECOMM网站)"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"The People's Bank of China made a new move on Sunday, lowering the interest rates of existing mortgage loans for the first and second sets of houses in batches by an average of about 0.5%. China has taken one strategic move after another. It seems that it not only wants to boost its stock market, but also to maintain the 5% economic target growth. All Chinese stock indices soared on Monday with great momentum. Chinese Premier Li Qiang requested on Sunday to launch out market-rescuing measures as soon as they are ready to be launched at the right timing, which means that market-rescuing policies will continue to be launched, and it looks like this time they mean it for real. In just 4 days, the Shanghai Composite Index has risen by 605 points. Let us take a look at the amazing market trend of the Shanghai Composite Index. (Please refer to the chart on ECOMM website)"

27-09-2024 (Fri) 8.15am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"新加坡经济发展局（EDB）星期四（9月26日）发布的预估数据显示，若不包括生物医药领域，8月份产值同比升27.5％，而7月份仅增加3.6％。环比增加6.7％。若不包括生物医药领域，环比上升11.0％。数据显示新加坡经济表现越来越强,可支撑股市继续上涨。

星展集团控股（DBS）股价跌0.18％至38.30元,已触及第一条支撑线，可开始注意。(图表请参看ECOMM网站)

中国等到全世界把中国股市看衰到极点,股市跌至谷底时才不断出高招，造成股市大涨特涨。中港股市应大有作为。就象香港大乱特乱后，才出高招整治，一劳永逸，这可能就是中国人的智慧。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"Data released by the Singapore Economic Development Board (EDB) on Thursday (September 26) showed that, excluding the volatile biomedical manufacturing segment, output value in August rose 27.5% year-on-year, compared with a growth of just 3.6% in July. On a month-on-month basis, output rose 6.7%. Excluding the biomedical manufacturing segment, output rose 11.0% month-on-month. The data showed that Singapore's economic performance is getting stronger and stronger, which could support the continued upward rise of the stock market.

DBS Group Holdings fell 0.18% to $38.30, and has touched the first support line. We may start to look into this stock.(Please refer to the chart on ECOMM website)

China waited until the whole world was extremely pessimistic about the Chinese stock market and until its stock market fell to the bottom, before coming up with continuous high-level strategic moves, which led to a sharp rise in its stock market. The Chinese and Hong Kong stock markets should have great potential ahead. It was just like back then when Hong Kong was in chaos, China came up with high-level strategic moves to rectify it once and for all. This could be the wisdom of the Chinese people."

25-09-2024 (Wed) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"周二中国宣布了近年来最大的货币刺激和支持房地产市场措施，下调银行存款准备金率以及至少8000亿元人民币的流动性支持。受中国利好消息刺激，深圳、上海和香港股市大涨,沪指还创四年多来最大单日涨幅。新加坡反而下跌，但上升股405只，下跌股219只，股市其实是上涨的。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"On Tuesday, China announced the largest monetary stimulus and real estate support measures in recent years. The bank's reserve requirement ratio has been lowered, and at least 800 billion yuan of liquidity support has been unleashed. Boosted by good news from China, the Shenzhen, Shanghai and Hong Kong stock markets all rose sharply. The Shanghai Composite Index also recorded its largest single-day gain in more than four years. Although Singapore's STI fell on the contrary, there were 405 rising stocks, and 219 falling stocks, and hence the local stock market was actually broadly mostly higher. "

24-09-2024 (Tue) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"这一轮美联储大降息两码，对股市的影响有两种说法。卖空的说，根据以往的历史，降息两码，就会出现大跌进入熊市。另一种看多买上的则认为这一轮美联储大降息两码，鲍威尔却说经济没有衰退，只是要利息和经济回归正常，所以股市不会大跌。我较偏向后者，主要是历史上，股市大降息两码，都伴随经济危机或经济衰退，如雷曼兄弟倒闭、亚洲金融危机等，这一轮好象不是这样。

现在好多股票和指数触及阻力，如有下跌，我个人认为可趁机买进。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"There are two points of view on the impact of the Fed's double rate cut on the stock market. Short sellers say that according to past history, a double rate cut will lead to a bear market plunge. On the other hand, the bullish buyers believe that the stock market will not fall sharply after this round of the Fed's double rate cut, as Powell had said that the economy is not in recession, and that the huge rate cut was needed to normalise interest rates and the economy. I tend to adopt the latter view, mainly because historically, a huge rate cut usually takes place after economic crises or recessions, such as the collapse of the Lehman Brothers and the Asian financial crisis, but it does not seem to be the case in the current situation.

Many stocks and indexes have now hit resistance levels. If there be pullbacks, I personally think you may take the opportunity to buy the dip. "

20-09-2024 (Fri) 8.15am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"我们昨天提到“不管怎样，降息对股市还是利好”。

股市虽然还会上下剧烈波动,但应会渐入佳境，股市可能将继续上涨，这可能也符合我们提过的“看好10月股市”的说法。

海指周四涨40.76点,或1.13%，报3633点，冲破3600点，是17年来的高点,非常非常难得。我们提过新加坡大选，政联公司可注意，而政联公司也真的几乎全部大涨,政联公司还可注意。我们也提过可注意产业股，我们依然保留这个看法。其实昨天股市上升股415只，下跌股210只,已可说是全面上涨，所以中小市值的股票,我个人认为都可以开始注意。

新加坡的政经、安保等等，早已名闻于世，很多名人和富翁都喜欢入籍新加坡，尤其是区域地缘政治紧张，新加坡可作为避风港，更可吸引到各地的有钱人，而我们的股市却还是在低点，人家的股市上万点，我们还在3000多点徘徊，我个人认为本地的股市应该会吸引投资者到来。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"We mentioned yesterday that "in any case, the rate cut is still good for the stock market."

Although the stock market may still fluctuate, it ought to gradually move higher. The stock market may continue to rise, which may also be in line with our statement of maintaining "optimism about the stock market in October."The STI rose 40.76 points, or 1.13%, to 3,633 points on Thursday, breaking above 3,600 points to a 17-year high, which is outstanding. We had mentioned before that with the Singapore general election coming up, we may look out for government-linked companies. It turned out that almost all of the government-linked companies have risen sharply, and these stocks are still worth looking into. We also mentioned that we may look into property stocks, and we still maintain this view. There were actually 415 stocks rising and only 210 stocks falling yesterday, which can be said to be a broad-based rally, and I personally think that small and medium-sized market cap stocks may also be looked into.

Singapore's politics, economy, security etc. have long been famed in the world. Many celebrities and wealthy people want to become Singapore citizens, and this is especially true in the midst of regional geopolitical tensions. Singapore is deemed as a safe haven and continues to attract wealthy people from all over the world, and yet our stock market is still at a low point. The stock indexes of other global markets are over 10,000 points, while our local benchmark index is still hovering around 3,000++ points. I personally think that the local stock market should be able to attract more investors. "

17-09-2024 (Tue) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"交通部长兼财政部第二部长徐芳达透露，新加坡正在探讨一系列活跃股市的建议，包括扩大海峡指数的股票范围，不局限于大盘股，以及减轻企业上市成本和监管负担等。已在35年股市股海中，我个人认为这些建议每一项都将对整个股市带来新希望、新的流动性、新的活力、新的改革和股市的新气象。 "

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"Minister for Transport and Second Minister for Finance Chee Hong Tat revealed that Singapore is exploring a series of new ideas to revitalize the stock market, including expanding the range of constituent stocks in the Straits Times Index that are not limited to large-cap stocks, as well as reducing listing costs and regulatory burdens for companies. Having been in the stock market for 35 years, I personally believe that each of these ideas will bring new hope, new liquidity, new vitality, new reforms and a new atmosphere for the local stock market as a whole. "

09-08-2024 (Fri) 8.30am

投资者继续关注经济数据、地缘政治冲突、美股财报以及美联储的利率走向。美国上周初请失业救济人数大幅下降，缓解了市场对美国经济衰退的担忧。地缘政治冲突方面，伊朗暂时相当克制,但中东的局势还不明朗.财报已接近尾声，较少财报干扰股市。美联储9月降息也已相当肯定，甚至传出可能降息0.5%的声音。股市虽还会上下波动，但前景看来不错。我个人认为本地股价还在低点，还是可以投资。

今天是国庆日，祝新加坡国运永远昌盛，风调雨顺，人民永远丰衣足食。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

Investors continue to pay attention to economic data, geopolitical conflicts, US stock earnings reports and the interest rate trend of the Federal Reserve. The initial jobless claims in the U.S. fell sharply last week, easing market concerns about a US recession. In terms of geopolitical conflicts, Iran is temporarily quite restrained, but there are still uncertainties in the Middle Eastern situation. The financial reporting season is coming to an end, with fewer upcoming financial reports impacting the stock market. The Federal Reserve’s September interest rate cut is also quite certain, and there are even talks that the Fed may cut interest rates by 0.5%. Although the stock market will fluctuate up and down, the market outlook looks good. I personally think that local stock prices are still low, and we may still look to invest in local stocks.

Today is National Day. I wish for continued prosperity and progress for our nation Singapore, and financial abundance for all.

07-08-2024 (Wed) 8.00am
高盛声称，在全球市场动荡不安中，对冲基金周一进场抄底，大举买进美国科技股。

高盛首席执行官David Solomon认为美国经济躲过衰退。

市场还是会激烈震荡，上下波动。下星期可能会较明朗化。海指周二虽然还跌45.23点，但上升股还多过下跌股，下跌已不太是全面的。周五是假期，市场可能较淡静。现在股价相当吸引人，股价够便宜，就已可开始注意。

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

Goldman Sachs claimed that hedge funds entered the market on Monday to buy U.S. technology stocks amid the global market turmoil.

Goldman Sachs CEO David Solomon believes that the US economy has skirted a recession.

The market will still be volatile and fluctuate up and down. There may perhaps be greater clarity next week. Although the STI fell 45.23 points on Tuesday, there were more rising stocks than falling stocks, and the losses were not so broad-based. Friday is a local public holiday, and the market may be quieter. With current stock valuations already quite attractive, and stock prices already cheap, we may start looking into stocks.

29-07-2024 (Mon) 8.01am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

上证指数也触及双平行线的支持点，可能有希望从这里反弹。（图表请参看ECOMM网站)

随着各项宏观政策落实，中国上半年工业生产平稳较快增长，企业利润持续稳定恢复，6月份的工业企业利润同比增幅较5月明显回升。中国6月份规模以上工业企业实现利润同比增长3.6%，明显高于5月份0.7%增幅。中国的经济是在复苏中，最近又不断减息，中国的股市还可注意。我个人认为在香港股市的中芯国际（SEMICOND MFG INT CORP 0981）可能可作长期的投资。因为华为的晶片主要都来自中芯国际，因现在需要花钱盖厂房和不断研发先进的晶片，所以近兩年來赚到钱反而少了。先进的晶片被美国严厉制裁，但一旦中芯国际研发成功，就不得了，据说现在已有不错的成绩。(图表请参看ECOMM网站)

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

The Shanghai Composite Index also touched the support point of the double parallel lines, and there may be hope for a rebound. (Please refer to the chart on ECOMM website)

With the implementation of various macro policies, China's industrial production grew steadily and rapidly in the first half of the year, and industrial profits continued to recover steadily. China's industrial profits achieved a year-on-year growth of 3.6% in June, significantly higher than the 0.7% growth in May. China's economy is recovering, and interest rates have been continuously cut recently. China's stock market is still worth looking at. I personally think that SMIC (SEMICOND MFG INT CORP 0981), which trades in the Hong Kong stock market, may be considered as a long-term investment. This is because Huawei's chips mainly come from SMIC. As much money has been spent to build factories and in continuous research and development for the advanced chips, it has made less money than it should in the past two years. However, once SMIC rises above the U.S. sanctions, and succeeds in developing advanced chips on their own, it would be an amazing feat. There had been hearsay that it had already achieved good results. (Please refer to the chart on ECOMM website)

25-07-2024 (Thu) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

特斯拉大跌12%，谷歌母公司Alphabet大跌5.03%，这两家大型科技公司财报欠佳，引发了英伟达、Meta Platforms以及微软等其他大型科技股也普遍大跌，拖累了美股下跌。

美国大选变数多，据说美国副总统哈里斯的民调暂时高过特朗普，不明朗因素影响股市的走势。从历史看，8月的前半月是一年中表现最糟糕的两周之一，但可能也是我们进场的时候。

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

Tesla fell 12% and Google's parent company Alphabet fell 5.03%. The weak financial reports of these two large technology companies triggered a plunge in other large technology stocks such as Nvidia, Meta Platforms and Microsoft, dragging down the US stock market.

In the midst of the changes in the US election situation, there were polls that showed US Vice President Harris leading over Trump. Factors of uncertainties are affecting the trend of the stock market. Historically, the first half of August is one of the worst two weeks of the year, but it may also be an opportune time for us to enter the market.

20-06-2024 (Thu) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

新电信（Singtel）和4家电信公司合资开发电信业AI大语言模型,将使用多种语言，覆盖50个国家和地区约13亿客户。新电信近来的正面消息不少，可开始注意这只股票。

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

Singtel and four telecommunications companies jointly developed an AI language model for the telecommunications industry, which will use multiple languages and cover about 1.3 billion customers in 50 countries and regions. There has been much positive news on Singtel recently, and we may start paying attention to this stock.

19-06-2024 (Wed) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

国际投资公司KKR和新电信（Singtel）组成财团，将投资17亿5000万元于新科电信媒体全球数据中心（STT GDC）。STT GDC是本区域一家主要的数据中心业者，以新加坡为总部。这项交易是东南亚今年以来最大宗的数码基础设施投资。

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

International investment company KKR and Singtel formed a consortium to invest $1.75 billion in ST Telemedia Global Data Center (STT GDC). STT GDC is a major data center operator in the region, and is headquartered in Singapore. This transaction is the largest digital infrastructure investment in Southeast Asia this year.

14-06-2024 (Fri) 8.00am
以下是辉立证券首席股票经纪陈奕利先生的股市分析:

海指周四上扬17.09点,或0.52％，报3324.53点，开始有较好的表现。海指成份股方面，25只上扬，两只持平，三只下滑。涨幅最大的是扬子江船业（YZJ Shipbuilding）和胜科工业（Sembcorp Industries），分别上涨1.66％和1.41％，报2.45元和5.02元。这两只股票是ECOMM网站分析过，也是我们较喜欢的股票。"

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

The STI has performed well, rising 17.09 points, or 0.52%, to 3324.53 points on Thursday. Among the STI constituents, 25 rose, two remained unchanged, and three fell. The biggest gainers were Yangzijiang Shipbuilding and Sembcorp Industries, which rose 1.66% and 1.41% to $2.45 and $5.02 respectively. These two stocks have been analyzed before in the ECOMM website and are also our more favoured stocks.

13-05-2024 (Mon) 8.45am
香港上市芯片制造商中芯国际(SMIC)上周五公布了好坏参半的财报：第一季度营收好于预期，同比增长 20% 至 17.5 亿美元；但净利不及预期，同比大跌69%至7179万美元。周五早些时候公布盈利后，中芯国际股价收盘上涨 1.5% 至 16.26 港元。

以下是中芯国际优势和弱点的分析：
优势：
*中芯国际第一季度营收大幅增长，超越联华电子，是中国最大的国内芯片制造商，目前全球排名第四大芯片制造商，仅次于台积电(TSMC)、英特尔(Intel)和三星(Samsung)。
*第一季度80%的收入来自中国客户。继美国和外国制裁，外国制造商的竞争有限，华为等中国客户主要只能从大陆制造商采购。
*中芯国际拥有华为等强大客户群，而华为智能手机在中国的受欢迎程度飙升。

弱点：
*第一季度净利润低于预期，下降 69% 至 7,180 万美元, 受累于工厂和设备折旧成本。
*中芯国际对下半年的需求前景以及行业内的激烈竞争发出了警告。

Ecomm Invest 于 2023 年 9 月 25 日对中芯国际进行了详细报道，将其列为值得关注的公司，当时其股价低于 20 港元。随后中芯国际股价从2023年9月的约20港元一路上涨至2023年11月6日盘中高点的25.20港元。中芯国际公布不及预期业绩后，Ecomm Invest于11月20日在此建议"赢钱就走"。自2023年11月20日的22.40港元上升至2023年11月28日的23港元盘中高位后，便从2024年2月上旬的23港元一路下跌至2024年2月上旬的14港元以下，2024年5月10日最后交易收盘价为属低价位的16.26港元，股价因在低价位可有机会走高。但能否强势反弹，可取决于中芯国际与竞争者相比的芯片研发、客户芯片需求以及整体盈利等因素。

(所提供的本文只供参考, 投资买卖，必须審慎，自负责任。版权所有,未经允许,禁止转载。)

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission. )

Hong Kong-listed chip manufacturer Semiconductor Manufacturing International Corporation (SMIC) reported mixed earnings results last Friday: Q1 revenue came in better-than-expected, rising 20% year-on-year to US$1.75 billion; but, net profits came in worse-than-expected, plunging 69% year-on-year to US$71.79 million. Its share price closed up 1.5% to HK$16.26 following the reporting of its earnings results earlier on Friday.

Here are the analysis of the strengths and weaknesses of SMIC:
Strengths:
*SMIC Q1 revenue surged pass UMC and is China's biggest domestic producer, being now ranked the world's 4th largest chip producer behind TSMC, Intel and Samsung.
*80% of its Q1 revenue is from customers in China. There is limited competition from foreign manufacturers due to the U.S. and foreign sanctions, and China customers such as Huawei can mainly source from Mainland manufacturers.
*It has a strong customer base in Huawei, whose smartphones in China had been surging in popularity.

Weaknesses:
*Q1 Net profits came in below forecast, plunging 69% to $71.8 million following depreciation costs for plants and equipment.
*SMIC has warned about the outlook of demand in the second half of the year, and of fierce competition within the industry.

Ecomm Invest gave a detailed writeup on SMIC on 25 Sept 2023 as a company to watch, when its share price was trading below HK$20. SMIC then went all the way up from about HK$20 in Sept 2023 to an intraday high of HK$25.20 on 6 Nov 2023. On 20th Nov, after SMIC reported earnings that missed expectations, Ecomm Invest suggested here to take profits for this stock. After rising from HK$22.40 on 20 Nov 2023 to the intraday high of HK$23 on 28 Nov 2023, it went all the way down from HK$23 to below HK$14 in early February 2024. It last closed at the attractive price level of HK$16.26 on 10 May 2024, and it may possibly have a chance to move higher. Whether it can rebound strongly or not would depend on factors such as its own research and development of chips compared with that of its competitors, customer demand, and its overall profitability.

21-11-2023 (Tue) 7.45am

以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"楊子江船厂（YANGZIJIANG SHIPBUILDING）从1.56下跌至1.43，开始反弹，现价1.47，在250日线的值支持下，可能上试1.56和1.69，支持1.43。（图表请参看ECOMM网站)。"

( All contents provided are for informational purposes only. Access to and the use of the contents are at the user's own risk. You should assess your situation and risk tolerance, and do your own due diligence before making any investment decisions. All losses and costs associated with investing are your responsibility. All rights reserved. This material may not be published, broadcast, or redistributed without permission.)

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"YANGZIJIANG SHIPBUILDING fell from 1.56 to 1.43 and began to rebound. The current price is 1.47. With the support of the 250-day line, it may test 1.56 and 1.69. Support is at 1.43. (See the chart at ECOMM website)."

23-02-2023 (Thu) 8.00am

以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"个别股图表跟进分析（图表请参看ECOMM网站)

2月15日我曾提到YANGZIJIANG SHIPBUILDING “ 扬子江船厂经过两周的调整，又触及长期的支持线。如不跌破这条支持线，就可能挑战1.45，现价：1.27 支持1.24"。短短7天过后,扬子江船厂已上涨至1.35。现在已突破三角形的阻力，但触及1.35的阻力，如能破1.35的阻力，将可上试1.45。"

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The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

" Follow-up analysis of individual stock charts (see chart in ECOMM website)

On February 15, I mentioned about YANGZIJIANG SHIPBUILDING that "After two weeks of downside adjustment, Yangzijiang Shipyard has touched the long-term support line again. If it does not fall below this support line, it may test the upside at 1.45. Current price: 1.27. Support: 1.24" In just a short period of 7 days, Yangzijiang Shipbuilding had already risen to 1.35. It has now broken through the triangular resistance, but is met with the resistance at 1.35. If it can break above the resistance of 1.35, it may attempt to test the upside at 1.45. "

15-02-2023 (Wed) 8.00am

以下是辉立证券首席股票经纪陈奕利先生的股市分析:

"YANGZIJIANG SHIPBUILDING 扬子江船厂经过两周的调整，又触及长期的支持线。如不跌破这条支持线，就可能挑战1.45，现价：1.27 支持1.24"

The following is the market analysis by Phillip Securities Principal Remisier Mr Willie Tan Yi Li:

"YANGZIJIANG SHIPBUILDING

After two weeks of downside adjustment, Yangzijiang Shipyard has touched the long-term support line again. If it does not fall below this support line, it may test the upside at 1.45. Current price: 1.27. Support: 1.24"

30-01-23 (Mon) 3.30pm

多年前，Ecomm 对黄金提出了买入建议，随后几年看到黄金进入牛涨时期。黄金现在又再次受到瞩目。尽管黄金不支付股息，但从长远来看，黄金有上涨的潜能尤其是当美联储停止加息之前的那段时期。可买入黄金的原因如下：

* 黄金是对冲市场风险的良好对冲工具,尤其是当你不想卖掉手上股票，计划长期持守拥有的股票。

* 中央银行和金砖国家一直在购买黄金。金砖国家正在建立一种与黄金挂钩的新货币。如果金砖国家真的实行这样的一个新货币（看来这是迟早的事），那么从长远来看，金价将远高于目前的价格。

Years ago, Ecomm made a buy recommendation on gold, and it went bullish for the next few years. Gold is now in vogue again. Despite not paying dividends, gold may be considered a good add to your portfolio in the longer term, especially nearer the period when the Fed stops hiking the rates. Here are the reasons why:

* If you intend to hold on to your portfolio positions for the long term, gold is a good hedge against market risks.

* The central banks and the BRICS nations have been buying up gold. the BRICS are looking to set up a new currency that is tagged to the gold. If this common currency were to come into being, which it looks like it will in time to come, then gold price is going to go up much higher than the current price in the longer run.

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