Bank of China, HSBC and PetroChina are now showing very different technical setups.

📈 𝐁𝐚𝐧𝐤 𝐨𝐟 𝐂𝐡𝐢𝐧𝐚 is holding firm near resistance
⚠️ 𝐇𝐒𝐁𝐂 has broken below HK$160 with a fresh 1GT Bearish signal
🛢️ 𝐏𝐞𝐭𝐫𝐨𝐂𝐡𝐢𝐧𝐚 is trying to hold above the HK$9.00 support

Which stock could be setting up for the next major move?

👉 𝐑𝐞𝐚𝐝 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐡𝐞𝐫𝐞:
https://joeychoy.beehiiv.com/p/3-hong-kong...

$Bank of CN HK SDR 1to1(HBND.SI) $HSBC HK SDR 5to1(HSHD.SI) $PetroCN HK SDR 1to2(HPCD.SI)

𝐃𝐁𝐒 𝐚𝐧𝐝 𝐎𝐂𝐁𝐂 𝐡𝐚𝐯𝐞 𝐚𝐥𝐫𝐞𝐚𝐝𝐲 𝐡𝐚𝐝 𝐬𝐭𝐫𝐨𝐧𝐠 𝐫𝐮𝐧𝐬.
𝐁𝐮𝐭 𝐧𝐨𝐰 𝐔𝐎𝐁 𝐢𝐬 𝐠𝐞𝐭𝐭𝐢𝐧𝐠 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐢𝐧𝐠. 🤓

A fresh 1GT Bullish signal has appeared, the short-term trend is turning up, and 44 is the key level to watch.

Could UOB finally be the next bank to move?
▶️ Watch here: https://youtu.be/duuLSB3YcHA

$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI)

$OCBC Bank(O39.SI) has spent the past few weeks consolidating near its highs, with prices now around 32.18. Despite the sideways movement, buyers have continued to defend the 31.00 support area, while 32.50 remains the immediate resistance standing in the way.

The 20d moving average continues to trend higher beneath price, while the 100d and 200d moving averages are also sloping upward. The 2 consecutive 1GT Bullish signals remain in play, with no 1GT Bearish signal yet.

A firm breakout above 32.50 could signal another continuation of the uptrend, with the next target around 34.00. After several weeks of consolidation near the highs, could 32.50 be the level that unlocks OCBC’s next move toward 34.00?

https://youtu.be/YgfUAp5BY3E
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI) $Singtel(Z74.SI) $Keppel(BN4.SI) $Sembcorp Ind(U96.SI)

https://youtu.be/pQ1_TuIHCew
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI) $SGX(S68.SI) $Singtel(Z74.SI)

https://www.youtube.com/live/U7KfjXhnVEw?s...
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI) $SGX(S68.SI) $AEM SGD(AWX.SI) $UMS(558.SI)

Singapore's retail REIT sector presents a range of investment profiles, from high-yielding counters trading below NAV to larger, highly occupied portfolios with more moderate yields. The six REITs examined — BHG Retail REIT, Sasseur REIT, Landmark REIT, Frasers Centrepoint Trust, United Hampshire US REIT and Starhill Global REIT — differ considerably in terms of yield, valuation, occupancy, WALE, gearing and interest coverage.
‌
These differences are important because a high distribution yield does not necessarily come with lower risk, while a lower yield may be accompanied by stronger occupancy, scale or financing metrics. The comparison therefore highlights the different trade-offs across the retail REIT sector.
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Read more here:
https://reitsavvy.com/insights/singapore-r...
‌
Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.
👉 https://www.kennyloh.net...
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$BHG Retail Reit(BMGU.SI) $Sasseur Reit(CRPU.SI) $Landmark REIT(D5IU.SI) $StarhillGbl Reit(P40U.SI) $Frasers Cpt Tr(J69U.SI) $TENCENT-C38(054638.MY) $Suntec Reit(T82U.SI)

Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.
👉 https://www.kennyloh.net/

🚀 Excited to go LIVE with Tiger Brokers!

Maximized your Supplementary Retirement Scheme (#SRS) savings yet, or is your capital idling in cash?

I’m going live with Tiger Broker for an exclusive session focused on Unlocking Your SRS Potential: Tax Optimization & Smart Investment Strategies.

We’ll break down:
🔥Tax Optimization: How to make full use of your SRS account to minimize your tax bill

🔥Smart Investment Strategies: Deploying funds effectively into yield & growth opportunities instead of sitting on low-yield cash

🔥Portfolio Considerations: Tailoring your strategy for retirement planning & wealth preservation

🔥Live Q&A: Bring your specific SRS questions!

📅 Date: Tuesday, 29 September 2026
⏰ Time: 8:00 PM - 9:00 PM SGT
📌 Live Stream Link: https://www.youtube.com/live/FV1R67RjsIc

Set your reminders, drop your questions in the comments, and I look forward to seeing you live!

Disclaimer: This post and live stream are for educational purposes only and do not constitute personal financial or tax advice.

#SRSSingapore #TaxOptimization #TaxPlanning #SupplementaryRetirementScheme
#SmartInvesting #WealthManagement #RetirementPlanning #PassiveIncome
#FinancialWisdom

Yesterday I was on air with Michelle Martin on MoneyFM 89.3 for a market analysis on where S-REITs stand right now.

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With average yields around 6.2% tempting income investors, many are asking if they are still being "paid to wait" or simply holding deteriorating balance sheets.

‌

Key takeaways covered in the session:

• Market Temperature: Share prices across the board remain under rate pressure, but operational winners are quietly growing their DPUs through lower domestic SORA rates, AEIs, and capital recycling.


• Where to Average Down (and Where Not To): Why segments like suburban retail, logistics, and prime data centres offer resilient fundamentals, while high-yield offshore assets may be pricing in rights issues or asset write-downs.


• Red Flags for Value Traps: Looking closely at debt refinancing walls, Interest Coverage Ratios (ICR), and manager-sponsor alignment.


• Income Alternatives: How Singapore banks, S$ corporate bonds, and dividend ETFs stack up against REITs in a barbell income strategy.

For the full operational breakdown and audio recording, check out the write-up here: 👉 Full Insights & Podcast Link: https://reitsavvy.com/insights/money-and-m...

‌

Would love to hear your thoughts—are you averaging down on S-REITs today or shifting capital into banks/fixed income?

‌

‌
Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.
👉 https://www.kennyloh.net/...
‌
#SingaporeREITs #Investing #DividendInvesting #PassiveIncome

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$FSTAS351020(FSTAS351020.IN)‌ ‌ $LION-PHILLIP S-REIT(CLR.SI)‌ ‌ $CSOP iEdge SREIT ETF US$(SRU.SI)‌ ‌ $CSOP iEdge SREIT ETF S$(SRT.SI)‌ ‌ $UOB AP GRN REIT S$(GRN.SI)‌ ‌ $UOB AP GRN REIT US$(GRE.SI)‌ ‌ $BHG Retail Reit(BMGU.SI)‌ ‌ $CapLand IntCom T(C38U.SI)‌ ‌ $CapLand China T(AU8U.SI)‌ ‌ $Fortune Reit HKD(F25U.SI)‌ ‌ $Frasers Cpt Tr(J69U.SI)‌ ‌ $Lippo Malls Tr(D5IU.SI)‌ ‌ $Mapletree PanAsia Com Tr(N2IU.SI)‌ ‌ $StarhillGbl Reit(P40U.SI)‌ ‌ $IREIT Global(UD1U.SI)‌ ‌$Keppel Reit(K71U.SI)‌ ‌ $ManulifeReit USD(BTOU.SI)‌ ‌ $OUEREIT(TS0U.SI)‌ ‌ $Suntec Reit(T82U.SI)‌ ‌ $AIMSAMP Cap Reit(O5RU.SI)‌ ‌ $CapitaLand Ascendas REIT(A17U.SI)‌ ‌ $EC World Reit(BWCU.SI)‌ ‌ $ESR-REIT(J91U.SI)‌ ‌ $Frasers L&C Tr(BUOU.SI)‌ ‌ $Frasers L&I Tr AUD(BWQU.SI)‌ ‌ $Keppel DC Reit(AJBU.SI)‌ ‌ $Mapletree Ind Tr(ME8U.SI)‌ ‌ $Mapletree Log Tr(M44U.SI)‌ ‌ $Sabana Reit(M1GU.SI)‌ ‌ $Far East HTrust(Q5T.SI)‌ ‌ $CDL HTrust(J85.SI)‌ ‌ $CapLand Ascott T(HMN.SI)‌ ‌ $Frasers HTrust(ACV.SI)‌ ‌ $First Reit(AW9U.SI)‌ ‌ $ParkwayLife Reit(C2PU.SI)‌ ‌ $Dasin Retail Tr(CEDU.SI)‌ ‌ $NikkoAM-STC Asia REIT(CFA.SI)‌ ‌ $Sasseur Reit(CRPU.SI)‌ ‌ $Nikko AM STI ETF(G3B.SI)‌ ‌ $STI ETF(ES3.SI)‌ ‌$CapLand India T(CY6U.SI)‌ ‌ ‌$Acro HTrust USD(XZL.SI)‌ ‌ $Keppel Reit(K71U.SI)‌ ‌ $Prime US ReitUSD(OXMU.SI)‌ ‌ $Lendlease Reit(JYEU.SI)‌ ‌ $NikkoAM-STC Asia REIT(CFA.SI)‌ ‌ $ELITE UK REIT(MXNU.SI)‌ ‌ $UtdHampshReitUSD(ODBU.SI)‌ ‌ $STONEWEG EUROPEAN REIT(CWBU.SI)‌ $Cromwell Reit SGD(CWCU.SI)‌ ‌ $CapitaLandInvest(9CI.SI)‌ ‌ $Daiwa Hse Log Tr(DHLU.SI)‌ ‌ $DigiCore Reit USD(DCRU.SI)‌ ‌ $PARAGON REIT(SK6U.SI) $Stoneweg EUTrust EUR(SET.SI) $Stoneweg EUTrust SGD(SEB.SI) $ESR REIT(9A4U.SI) $Cent Accom REIT(8C8U.SI) $NTT DC REIT USD(NTDU.SI)

$CityDev(C09.SI) plunged more than 8% today, touching S$7.58 on huge volume, after announcing its long-awaited strategic review.

The sharp reaction suggests funds and institutional investors had positioned for a more aggressive and immediate value-unlocking plan. Instead, CDL delivered a three-year GET+ roadmap for FY2027–2029, with much of the value unlocking dependent on future execution.

That disappointment triggered heavy selling.

But after an 8% one-day plunge, has the market become too negative too quickly?

For me, this is starting to look interesting for bargain hunting, but I would not rush in today.

🔹 S$6 Billion of Assets to Be Unlocked

CDL targets S$6 billion of divestments, with more than S$1 billion of PATMI gains expected from these asset sales. Pasted markdown

CDL’s problem has never been a lack of valuable assets. The challenge has been turning those assets into cash, earnings and better shareholder returns. Pasted markdown

🔹 More Than S$12 Billion of Potential Cash Inflows

On top of the S$6 billion divestments, CDL expects more than S$6 billion of property development cash inflows through FY2029. Pasted markdown

That potentially means more than S$12 billion of gross cash inflows over three years, although development cash inflows are not the same as profit.

🔹 Lower Debt + Higher ROE

CDL targets net gearing of around 55% by FY2029. Pasted markdown

CDL also plans to double its fund-management AUM from around S$5 billion to S$10 billion, potentially moving towards a more asset-light model. Pasted markdown

🔹 DBS Research Still Sees Significant Value

DBS maintains BUY with a S$12.00 target price after the GET+ announcement, based on a 35% discount to RNAV. Pasted markdown

At S$7.58, this represents around 58% upside to DBS’s target price.

📊 My Technical View

CDL crashed sharply today on huge volume following the announcement. Many short-term traders who entered at higher prices are now trapped, so I would not rush in today.

Instead, I will watch for a bargain-hunting opportunity over the next few days.

Immediate support is at S$7.58, with the final support at S$7.44.

🌟 My Trade Action

I will wait for the share price to enter the S$7.44–S$7.58 range before considering an entry.

🎯 Short-Term Target: S$7.99

⚠️ Risk Management

I will use a hard stop-loss at S$7.42.

For reference only.

Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

📌If you find this analysis useful, I share weekly trading

ideas and special trade setups via my WhatsApp community announcement group

(one-way, no spam).

👉 To join, simply message ‘SG’ on WhatsApp:https://wa.me/6590908871

Joining is free.

$Addvalue Tech(A31.SI) share price plunged around 12% today, with what appeared to be panic selling after the market focused on the word “dilution”.

I read today’s Business Times article, “Addvalue shareholders approve spinoff of unit, share dilution for Nasdaq listing.”

The words “share dilution” may sound scary, but I think retail investors need to understand what is actually being diluted.

Your Addvalue shares are not being diluted by 30%.

It is Addvalue’s ownership of the IDRS business that could reduce. After the proposed Nasdaq listing, Addvalue expects to still own at least 70% of the IDRS business.

Think of it this way:

Would you rather own 100% of a S$100 cake, or 70% of a S$300 cake?

That is the real question.

By listing the IDRS business separately on Nasdaq, it can potentially raise its own money, grow faster and attract more US investors.

So yes, Addvalue may own a smaller percentage of IDRS.

But if the Nasdaq listing helps make the IDRS business much more valuable,

Addvalue’s 70% could potentially be worth more than its current 100%.

That’s why I don’t think investors should simply see the word “dilution” and assume it is automatically bad.

The real question is whether the Nasdaq listing can make the IDRS cake much bigger.

🌟 My Trade Action

I will buy on dips at any price below S$0.16 next week. The lower the better.

⚠️ Risk Management

I will exit if the price closes below S$0.145.

For reference only.

Please refer to my disclaimer:  https://tinyurl.com/alex-disclaimer

📌 If you find this analysis useful, I share weekly trading ideas and special trade setups through my WhatsApp Community Announcement Group (one way only, no spam).

👉 To join, simply WhatsApp “SG” to: https://wa.me/6590908871

Joining is free.

When I presented $Geo Energy Res(RE4.SI) at my seminar in August, my investment thesis was simple:

Higher coal prices + More coal volume + Lower transport costs + Hidden value in MBJ = Stronger earnings.

Yesterday, Geo Energy issued profit guidance expecting a significant increase in 3Q26 net profit.

The story I shared in August is now starting to show up in the numbers.

🔹 Coal Prices Are Up

Average coal price was US$58.13/tonne in 1H26. It has now risen to around US$76/tonne.

Higher coal price = more profit potential per tonne.

🔹 More Coal to Sell

Geo Energy expects to sell around 3.3 million tonnes in 3Q26 alone, compared with 3.6 million tonnes in 1Q26 and 2Q26 combined.

The new MBJ road and jetty are helping Geo Energy move significantly more coal.

🔹 Transport Costs Are Down

Using its own MBJ infrastructure has reduced operational cash costs by around US$11 per tonne for coal transported through MBJ.

🔹 US$1.5 Billion MBJ Value

Geo Energy said discussions with Resource Invest for an investment in MBJ at a US$1.5 billion valuation have made good progress.

This could help the market recognise the hidden value of MBJ.

Analyst Target Price

🎯 KGI Securities: S$1.15 — OUTPERFORM

📊 My Technical View

Geo Energy recently broke above the important S$0.57 resistance with huge volume, together with a fresh General X BUY signal.

As long as S$0.57 holds, I remain positive on the trend.

Next Technical Target

🎯 S$0.645

🎯 S$0.860

🌟 My Trade Action

Following yesterday’s profit guidance, I added to my position at the opening at S$0.585.

⚠️ Risk Management

I will exit if the share price falls below S$0.51.

For reference only.

Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

📌 If you find this analysis useful, I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).

👉 To join, simply message ‘SG’ on WhatsApp: https://wa.me/6590908871
Joining is free.

On 26 September 2026, The Society of Remisiers and the Securities Association of Singapore, supported by SGX, held the first-ever Remisier Day. Sixteen remisiers from different broking houses came together to share what we have learned, across 288 combined years in the market.

Over 3–4 hours, we covered smart investing techniques, income investing, ETFs, SDRs, CPF retirement planning, and the human side of investing. My own session was on reading Market Structure, the technical analysis framework I use every day.

What made my day was watching investors leave the room smiling. They weren't just taking away trading tips. Many were also asking themselves why they keep repeating the same mistakes when the market structure was telling them to do otherwise.

I also ran a stock clinic. One participant, Mr Chew, was keen on DBS. I told him that banks sometimes open at a big discount, that these gaps can be trading opportunities, and that DBSs market structure still had a bullish bias. On Monday, DBS opened at $77.26, down $0.74 from the previous close, and then recovered about $1 during the session. It was a good live example of structure and patience working together.

Thank you to:
The SGX team ( Andrew Ler, John Lim, Lynica Foo, Amanda Huang and Shimona Wong) for making this event possible

The heads of the participating broking houses, and PSPL MD Luke Lim and our partnership team, Me Ling Tan and Justin Tan, for their support

Our coaches Juliana Chan, PhD and Petrina

InvestSG Shanison Lin, CMT and his Team

My fellow speakers Anthony Chin, Alex Low ( 刘伟雄), Ellain Tan, CFA, CFP, CMT, Li Guang Sheng. Law Chei Guan 刘子沅, Dan CHANG C S （张爵兴）, Gar Wing Ng, Wang Hanhui, Yew Meng LEK (陸友明), IBFQ, @ Liu Feng, S Raveen, Fan Jun, Brandon Leu, CMT, CFTe, Alvin Yuen, Tolmas Wong, for your commitment and for making this a success

Genting Singapore: Hope Is Building, But the Bar Is High
On 18 Sept, I toured Resorts World Sentosa (RWS) with my peers and SGX Group team. The old Hard Rock Hotel is now The Laurus, an all-suite luxury hotel, a clear sign of how far the resort has moved upmarket.

What I saw
WEAVE, with over 40 dining and retail concepts, now links the hotels, casino and lifestyle assets. Minion Land and the Singapore Oceanarium are open.
Super Nintendo World is still to come. By 2030, the waterfront adds two luxury hotels (about 700 rooms), a retail podium and an 88-metre light sculpture.
The RWS 2.0 budget is S$6.8 billion, up from the S$4.5 billion announced in 2019 because of higher costs and redesigns. Gross floor area grows by about 50%.
The investment case
Strategy: attract higher-spending guests, encourage longer stays, and let gaming and non-gaming support each other.
Early signs: 2Q26 adjusted EBITDA of S$211m rose 18% QoQ and 12% YoY. 1H26 non-gaming revenue grew 5.5%.
Balance sheet: S$2.9b in cash at end-June and an investment-grade rating. Management reiterated its commitment to the dividend, which was paid even through COVID. The 4-cent annual dividend is about a 6.5% yield at S$0.615.
The other side of the ledger
1H26 net profit fell 34% to S$156m and adjusted EBITDA fell 8%. Part of 2Q's rebound is recovery from a weak 1Q.
Capex peaks in 2027-28 at S$1.0-1.2b a year. The dividend costs about S$480m a year and 1H EPS (1.3 cents) did not cover the 2-cent interim payout. On my rough numbers, cash could fall towards S$1b by end-2028 unless earnings improve or the company borrows.
Return on invested capital is only around 3.8%. RWS 2.0 has to lift that meaningfully.
The casino licence expires in February 2027. Management is confident, but this is the key event.
My take
At S$0.615, the market is pricing in plenty of scepticism. The shares trade near book value and analyst consensus is Hold, with an average target near S$0.70. But much of the S$2.9b cash is already earmarked for capex, so it is a cushion that is being spent. For me, this is one for the watchlist and for patient, income-focused investors, not a clear-cut buy today.
What I will be watching:
Gaming market share, and how RWS competes for high-net-worth players against Marina Bay Sands
Non-gaming growth and EBITDA margins
The licence outcome
Whether the dividend holds as capex peaks
Thank you to Mun Yuen Chua, Bryan Sim and Chloe Li for hosting us, and to SGX Group Amanda Huang and @shimonawong for organising the visit.

CDL Hospitality Trusts: A Closer Look Beyond the Discount
Had a great noon on 7 September visiting CDL Hospitality Trusts (CDLHT) as part of SGX's "Stocks on the Move" programme — capped off with a stop at W Singapore – Sentosa Cove, where the newly refreshed rooms (and an excellent plate of chicken rice) made a strong first impression.

For those less familiar, CDLHT is one of Asia's leading hospitality trusts, with a S$3.5 billion portfolio spanning 22 properties across 11 cities and 8 countries — hotels, resorts, UK Build-to-Rent and student accommodation. Singapore remains the core, at over 60% of portfolio value, anchored by names like Orchard Hotel, Grand Copthorne Waterfront and W Singapore.
Three things stood out from the session:

1. A discount that may not last. CDLHT currently trades at roughly 0.55x NAV (S$1.41/unit) — about a 45% discount. With gearing down to 35.3% after a S$250m perpetual securities raise, 73.7% of borrowings on fixed rates, and DPU up 8.6%, the balance sheet is moving in the right direction. The question for investors isn't whether it's cheap — it's what closes the gap.

2. Moxy Singapore Clarke Quay as the next catalyst. This 475-key lifestyle hotel — built on the site of the former Novotel Clarke Quay — is on track for TOP in late 2026 and opening in 1H2027, lifting CDLHT's Singapore room count by ~19% (2,555 to 3,030 keys). It's a good example of "sell the old, unlock the value, keep the location."

3. Reinvestment across the portfolio. Asset enhancement works are underway at M Hotel (415 rooms, completing 3Q2027), Copthorne King's Hotel (167 rooms from 4Q2026) and Hilton Cambridge City Centre (198 rooms from 4Q2026), alongside continued expansion in the UK living sector (BTR and PBSA).

On capital recycling, management reiterated a disciplined, selective approach to divestments — and when asked directly about the possibility of a special dividend from future asset sales, both CEO Vincent Yeo and CIO Mandy Koo acknowledged the question was "noted." Nothing confirmed, but a signal worth watching.

As Vincent Yeo put it: "It is always easy to sell but hard to buy back at a better price" — a good reminder of why Singapore stays core to their strategy even amid the living-sector diversification.

Ultimately, a discount to NAV tells us what the market is willing to pay today. Whether Moxy's ramp-up, the AEIs and improving financing costs are enough to close that gap is the story to watch into 2026–2027.

A big thank you to CEO Vincent Yeo, CIO Mandy Koo and the CDLHT team for their generous hospitality and candid sharing, and to Shimona Wong and the SGX team for putting together another excellent Stocks on the Move session for remisiers and industry participants.

Looking forward to the next one.