𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *5/5/26*

.

STI: 4924 (+11) | HSI: 26095 (+320) | Dow: 48941 (-557) | S&P: 7200 (-29) | Nasdaq: 25067 (-46)

.

*US Markets Overnight!*

.

*Oil Up, Stocks Down, Who’s Wearing the Crown?*

.

US markets took a breather overnight, and not the relaxing kind. The Dow Jones led the pullback, down 1.1% or over 550 points, while the S&P 500 and Nasdaq slipped 0.4% and 0.2%. The mood shift came as Middle East tensions flared again, with conflicting headlines around Iran and US naval activity keeping traders on edge. Oil did what oil does in times like this, it spiked hard, with West Texas Intermediate up 3.2% and Brent crude jumping nearly 6%. Translation, inflation risk just walked back into the room.

.

Rates nudged higher too, the 10 year Treasury yield ticking up to 4.44%, not exactly what equity bulls want to see. Gold pulled back, Bitcoin steadied around 80k, and the dollar firmed slightly, a bit of classic cross asset repositioning as uncertainty creeps in. The bigger narrative here is uncomfortable, growth slowing, inflation sticky, and the Fed stuck in the middle, with geopolitics now the wild card. If Hormuz escalates, stagflation chatter gets louder. If it cools, markets breathe again. Simple, but not easy.

.

On the stock front, the Magnificent Seven were mixed after last week’s strong run. *Apple* gave back some gains, down 1.2%. More interesting moves came from single names. *eBay* popped 5% after a surprise $56B bid from GameStop though GameStop itself dropped 10%, classic deal skepticism. BlackBerry quietly climbed on stronger QNX momentum, showing there is still life beyond the meme days.

.

Earnings reactions were a mixed bag. Norwegian Cruise Line sank nearly 9%, Loews Corporation slid, while Tyson Foods rallied 8% to lead the S&P. Palantir Technologies edged higher ahead of results, one to watch given how crowded that AI trade has become.

.

As I have maintained for weeks, single day events do not matter much as headlines can shift quickly. If last week was all about tech optimism, this week starts with geopolitics reminding everyone who’s really in charge. Markets hate uncertainty, and right now, there’s plenty to go around.

.

*Monday Wrap:*

.

*Sometimes, markets don’t need new news… just a stronger reason to believe.*

.

After a solid Friday in the U.S., driven by strong earnings from big tech and continued optimism around AI, that positive sentiment spilled over into Asia. Markets like Korea and Taiwan surged ahead, clearly outperforming the rest of the region.

.

In my view, part of that sharp rally also reflects a catch-up effect. These markets had lagged earlier, so when sentiment turned, they moved faster, and more aggressively.

.

Singapore, on the other hand, was more measured. The STI edged up, supported by a slight improvement in risk appetite. With the Federal Reserve holding rates steady, interest rate expectations have stabilised somewhat, giving markets a bit more breathing room.

That said, I would still be cautious about reading too much into a single day’s move.

Markets remain highly sensitive to geopolitical developments, especially in the Middle East, as well as oil prices and inflation. In this kind of environment, sentiment can shift very quickly, sometimes on just one headline.

.

Appreciate the coverage by Lianhe Zaobao Senior Business News Correspondent, Lewis Ong (早报财经新闻, 资深高级记者 王阳发), and thanks to Albert Fong for sharing his views as well.

.

https://www.zaobao.com.sg/finance/singapore/story20260504-8995580

.

*What’s Brewing Today*

.

*UltraGreen .ai* reported a steady earnings. Also announced regulatory approval for Verdye (indocyanine green for injection) in Singapore. Recently have quite a few analyst reports on this company. In addition, it announced regulatory approval for Verdye (indocyanine green for injection) in Singapore. May probably attract investor’s attention

.

*Keppel* and *WingTai* may probably attract some market interest today after divestment news and contract win respectively. *OCBC* may also be pushed into the spotlight after the acquisition of HSBC Indonesia.

.

On corporate action, a few retail-popular stocks go XD today. They are *Seatrium*, *UOL*, and *Seatrium*, among others. Do take note.

.

===

*Happening Today*

SG XD

— CreditBureauAsia: SGD 0.022

— Haw Par: SGD 0.2

— Hong Leong Asia: SGD 0.03

— Kencana Agri: SGD 0.015

— PanUnited: SGD 0.035

— Seatrium: SGD 0.03

— StarHub: SGD 0.03

— UOL: SGD 0.18 + SGD 0.07 SPECIAL

— Venture: SGD 0.5

SG Earnings

— FLCT^, Ultragreen^

SG

— Retail Sales

CN

— Holidays

JP

— Holidays

EU

— ECB President Lagarde Speaks

US

— Building Permits / Trade Balance  (Mar) / New Home Sales  (Mar) / JOLTS Job Openings  (Mar) / ISM Non-Manufacturing Prices  (Apr) / ISM Non-Manufacturing PMI  (Apr) / ISM Non-Manufacturing Employment  (Apr)

.

===

*SG Stock news*

— *UltraGreen. ai* delivered a strong 1Q2026 with sustained volume growth, driven by broad-based global adoption, expanding clinical validation, and multiple growth levers including market expansion, new procedures, and data-enabled workflows.

https://links.sgx.com/1.0.0/corporate-announcements/LV2OIT5NNELKO2U7/887545_Ultragreen_1Q2026%20Update.pdf

— *UltraGreen .ai* announced regulatory approval for Verdye (indocyanine green for injection) in Singapore.

— *Frasers Logistics & Commercial Trust* posted steady 1HFY26 results with modest revenue and NPI growth driven by strong rental reversions, while DPU dipped slightly to 2.95 cents despite healthy occupancy, long WALE, and a well-managed balance sheet.

https://links.sgx.com/1.0.0/corporate-announcements/EKA4QPKZLWA0CMDZ/887551_FLCT%20-%201HFY26%20Results%20Presentation.pdf

— *OCBC* confirms acquisition of HSBC Indonesia, for a premium of $480 million

— *Keppel* plans to divest its 39% stake in the Keppel Merlimau Cogen Plant to *Keppel Infrastructure Trust* for up to S$128.1 million, a move expected to be earnings and NTA accretive while increasing KIT’s ownership to 90%.

— *Wilmar International* has secured its place in the Dow Jones Best-in-Class World Index for the fifth consecutive year, reaffirming its position as the only Singapore-based company in the Food Products category to feature in both the Dow Jones Best-in-Class World Index and the Asia Pacific Index

— *Wing Tai* and *Metro Holdings* are pleased to announce that their JV company has been awarded a 99-year leasehold prime site at Dunearn Road by the URA at the tender price of S$532,999,999.

— *UOI* Q1 2026 saw lower insurance revenue due to planned reinsurance reduction and market volatility, but underwriting remained resilient, partially offsetting weaker investment income and leading to a sharp drop in overall comprehensive income despite higher equity and assets.

https://links.sgx.com/FileOpen/1Q26%20Financial%20Highlights.ashx?App=Announcement&FileID=887510

— *AcroMeta’s* 1H FY2026 results show a weaker topline and profitability, with revenue down 13% and core operating losses widening, leading to continued net losses and a sharp decline in cash and equity position despite no discontinued losses this period.

https://links.sgx.com/FileOpen/Acrometa%20-%20Results%20announcement_20261H_final.ashx?App=Announcement&FileID=887479

.

===

*Earning calendar:*

6 May: GE^, ACROPHYTE HT^, Manulife US REIT^

7 May: UOB^, AIMS REIT, Avepoint

8 May: OCBC^, Frasers Property^

11 May: SIA Engg

12 May: NTT DC REIT, Prime US REIT

13 May: UHREIT^, Daiwa House^

14 May: KIT^, Singpost^, Sassuer REIT^, SIA, EC World, Netlink, Asian Pay TV

15 May: Golden Agri

18 May: LREIT

25 May: SATS

.

Sources:

www.sgx.com

www.investing.com

www.theedgesingapore.com

..

Cheers!

Dan

Start your investment journey here:

https://www.phillip.com.sg/talktophillip/danccs/

Disclaimer:

https://tinyurl.com/dan-disclaimer

.

#dailyupdate #tradeSGX #POEMS #danccs

𝐒𝐜𝐚𝐦 𝐀𝐥𝐞𝐫𝐭: 𝐏𝐥𝐞𝐚𝐬𝐞 𝐒𝐭𝐚𝐲 𝐕𝐢𝐠𝐢𝐥𝐚𝐧𝐭!

I have recently been informed that there may be individuals impersonating me online.

This is something I take very seriously, because trust is the foundation of what I do.

If you receive messages claiming to be from me, whether it’s about investments, trading opportunities, or requests for money, please take a moment to verify before responding.

For clarity:
- I do not solicit funds directly from individuals.
- I do not ask for personal banking details via private messages.
- And I do not approach people randomly with “guaranteed” investment opportunities.

If something feels off, it probably is.

Please only rely on my official channels, and if you are ever unsure, feel free to reach out to me directly to confirm.

Let’s all stay cautious and protect one another. Scams are becoming more sophisticated, but awareness is still our best line of defence.

Stay safe everyone.
~ Dan Chang C S

===
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$CSE Global(544.SI) continues to hold firm above the 1.20 support zone, with prices now testing the immediate 1.40 resistance. 

All 20d, 100d and 200d moving averages remain pointed up, keeping momentum aligned with the broader uptrend. 3 consecutive 1GT Bullish signals remain in play as buyers continue to defend higher lows. 

If the price can break and close firmly above 1.40, the next upside target sits near 1.60. Could a clean push through 1.40 spark the next leg higher toward 1.60?

We’re seeing selective strength + fresh 1GT Bullish signals forming across energy and financials.

‌

The setups are getting cleaner, and momentum is starting to build.

‌

If you’re watching HK exposure via SGX SDRs, this is worth a look.

‌

👉 Read here:
https://joeychoy.beehiiv.com/p/not-all-hk-...

Hi Everyone!
‌
𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐧𝐞𝐰𝐬! 𝐎𝐮𝐫 𝐌𝐚𝐲 𝐍𝐞𝐰𝐬𝐥𝐞𝐭𝐭𝐞𝐫 𝐢𝐬 𝐨𝐮𝐭! 𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐨𝐮𝐫 𝐓𝐨𝐩 𝐒𝐭𝐨𝐜𝐤 𝐏𝐢𝐜𝐤 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐔𝐒 𝐚𝐧𝐝 𝐒𝐆 𝐌𝐚𝐫𝐤𝐞𝐭.
‌
Don't miss out on valuable insights for your portfolio.
‌
Check it out here>> https://joeychoy.beehiiv.com/p/may-2026-ne...
‌
Do let us know your feedback or give us a thumbs up if found it useful. 👍🏻 Thank you for your support and we hope to continue to value add to you.

Got questions about PropNex? Here's your chance to get them answered. 🏠

Join us in 1 Week's time for our next Corporate Connect session with PropNex, where Executive Chairman Ismail Gafoor will walk us through PropNex's company profile and share key insights, followed by a live Q&A.

Don't miss this opportunity to connect with PropNex!
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#SIAS #CorporateConnect #PropNex #investing

The Singapore stock market concluded the final trading week of April with a focus on the first-quarter earnings results from the "Big Three" banks which attracted institutional net inflows into the financial sector reaching a three-week high. As of 4 May 2026, OCBC Bank is trading near its all-time highs following a strong rally in 2025 driven by strong robust wealth management earnings and capital return plans.

To learn more, Check out our latest Technical Insight on our YouTube channel (@sgsiasorg) at https://youtu.be/8fciLXGyJFA

Watch our Weekly Market Review every Monday at 12.30pm on YouTube!

Subscribe to SIAS mailing list for more investor related info: https://sias.org.sg/subscribe/

#Technicalinsight #MarketReview #StraitsTimesIndex #OCBC

This week on Weekly Market Review: Global markets kicked off May on a strong note, pushing to fresh highs on the back of strong US tech earnings, though the Fed’s signal of fewer rate cuts and rising oil prices continue to add uncertainty. Singapore’s STI held firm near the 5,000 level, supported by strong bank performance led by DBS, while investors watch upcoming earnings from UOB and OCBC alongside weaker DPU from Mapletree Industrial Trust.

Watch now on YouTube at https://youtu.be/TzeEyp1-37M

Subscribe to SIAS mailing list for more investor-related info: https://sias.org.sg/subscribe/

https://youtu.be/Lj_W1BLlxHY
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI)

https://youtu.be/Tuiy2Gq7pxo
$DBS(D05.SI) $UOB(U11.SI) $OCBC Bank(O39.SI) $SGX(S68.SI) $Singtel(Z74.SI)

https://www.youtube.com/live/cALWrd3H51E?s...
$DBS(D05.SI) $OCB5S(OCB5S.SI) $UOB(U11.SI) $SGX(S68.SI)

‌Technical Analysis (TA) $OUEREIT(TS0U.SI) 

The provided chart indicates a significant shift in price action over the past year:

• Bullish Reversal & Channel: After bottoming near $0.215 in late 2023, the stock established a clear ascending parallel channel.


• Moving Averages: The price is currently trading above the 20-day (blue), 50-day (magenta), and 200-day (green) moving averages. The 20-day recently crossed above the others, signaling short-term bullish momentum.


• Key Resistance & Support:
  Resistance: Immediate resistance is at $0.375 - $0.380 (52-week high). A breakout here could target the consensus analyst mark of $0.44 - $0.45.
  Support: Strong support is found at the $0.315 horizontal line and the lower boundary of the current uptrend channel.

‌

Fundamental Analysis (FA)

‌

OUE REIT delivered a resilient 1Q 2026, characterized by robust rental reversions and effective capital management:

• Financial Growth: Revenue rose 6.7% YoY to $70.5 million, while Net Property Income (NPI) grew 8.4% YoY to $57.6 million.


• Sector Performance:
  Hospitality: This was the standout segment, with NPI surging 16.8% YoY. RevPAR reached $277, driven by high-profile events and the return of major MICE activities like the Singapore Airshow.
  Commercial: Achieved positive rental reversions of 6.0% in the Singapore office portfolio, maintaining a high occupancy rate of 95.2%.


• Valuation & Yield:
  The REIT is trading at a significant 21% discount to book value (P/NAV of approximately 0.65x).
  The forecast dividend yield for FY26 is approximately 6.7%, expected to rise to 7.4% by FY28.


• Debt Profile: Weighted average cost of debt decreased to 3.7% p.a., with aggregate leverage standing at 41.5%.

‌

Future Plan & Strategy

‌

Management is pivoting toward capital recycling and organic growth:

• Strategic Divestment: OUE REIT is in the "price discovery phase" for the potential divestment of its stake in One Raffles Place (valued at $1.93 billion). Proceeds are earmarked for debt reduction (targeting a gearing of ~37%) and new acquisitions.


• Geographic Diversification: Completed the acquisition of a 19.9% stake in Salesforce Tower (Sydney) in March 2026. This marks a strategic entry into the Australian market with an initial yield of ~5.8%.


• Asset Enhancement Initiatives (AEI):
  OUE Bayfront: Planning approval has been received to convert Level 17 into 22,600 sq ft of additional office space. This project is expected to deliver a stabilized ROI of over 11.0%.
  Sustainable Hospitality: OUE Limited (Sponsor) is developing Hotel Indigo Changi Airport, aiming to be Singapore's first zero-energy hotel, which could eventually be a pipeline asset for the REIT.

‌

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/
‌
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investing involves risk. Please consult a licensed financial advisor to ensure any investment is suitable for your specific financial circumstances and risk profile.

Technical Analysis (TA)

The chart shows a daily timeframe for $IFAST(AIY.SI), highlighting several bearish signals despite a long-term uptrend.

• Chart Pattern: A significant "Head & Multiple Shoulders" topping pattern has formed. The "Head" peaked near $11.00, while the most recent shoulder is lower, around the $10.02 resistance zone.


• Neckline & Support: The critical Neckline Support at $8.43 is currently the most important level to watch. A decisive break below this could signal a trend reversal.


• Moving Averages: The price is currently trading below the shorter-term moving averages (pink and blue lines), which are starting to curl downwards. However, it remains above the long-term 200-day Moving Average (green line) and the primary Ascending Trendline, suggesting the macro bull case isn't fully broken yet.


• Price Action: Today's price action shows a sharp gap down following the earnings news. At $9.03, it is currently testing the psychological $9.00 level.

Q1 2026 Earnings Summary

iFAST released its Q1 FY2026 results yesterday after market close. While the numbers were objectively strong, the market reaction today suggests some "sell on news" or concerns over future margins.

Key Financial Highlights

• Net Profit: $28 million, a massive +47.5% YoY increase (up from $19 million in Q1 2025).


• Revenue: Rose 49.4% to $136.8 million, driven heavily by the Hong Kong ePension business and core wealth management.


• AUA (Assets Under Administration): Reached a new record high of $32.6 billion (+27.1% YoY).


• Interim Dividend: Declared 2.5 cents per share (up from 1.6 cents in the previous year).

Strategic Outlook

• 2030 Vision: The group reaffirmed its target of $100 billion AUA by 2030, implying a 25.6% five-year CAGR.


• Global Expansion: Rebranding FSMOne to FSM Global as part of its "Truly Global Business Model" centered on Singapore, Hong Kong, and London.


• New Revenue Stream: The ORSO (Occupational Retirement Schemes Ordinance) pension business in Hong Kong is expected to start contributing significantly in 2H 2026.

Technical Analysis (TA)

The uploaded chart shows a daily timeframe for iFAST, highlighting several bearish signals despite a long-term uptrend.

• Chart Pattern: A significant "Head & Multiple Shoulders" topping pattern has formed. The "Head" peaked near $11.00, while the most recent shoulder is lower, around the $10.02 resistance zone.


• Neckline & Support: The critical Neckline Support at $8.43 is currently the most important level to watch. A decisive break below this could signal a trend reversal.


• Moving Averages: The price is currently trading below the shorter-term moving averages (pink and blue lines), which are starting to curl downwards. However, it remains above the long-term 200-day Moving Average (green line) and the primary Ascending Trendline, suggesting the macro bull case isn't fully broken yet.


• Price Action: Today's price action shows a sharp gap down following the earnings news. At $9.03, it is currently testing the psychological $9.00 level.

Q1 2026 Earnings Summary

iFAST released its Q1 FY2026 results yesterday after market close. While the numbers were objectively strong, the market reaction today suggests some "sell on news" or concerns over future margins.

Key Financial Highlights

• Net Profit: $28 million, a massive +47.5% YoY increase (up from $19 million in Q1 2025).


• Revenue: Rose 49.4% to $136.8 million, driven heavily by the Hong Kong ePension business and core wealth management.


• AUA (Assets Under Administration): Reached a new record high of $32.6 billion (+27.1% YoY).


• Interim Dividend: Declared 2.5 cents per share (up from 1.6 cents in the previous year).

Intrinsic Value Comparison (10 Years Horizon)

Strategic Outlook

• 2030 Vision: The group reaffirmed its target of $100 billion AUA by 2030, implying a 25.6% five-year CAGR.


• Global Expansion: Rebranding FSMOne to FSM Global as part of its "Truly Global Business Model" centered on Singapore, Hong Kong, and London.


• New Revenue Stream: The ORSO (Occupational Retirement Schemes Ordinance) pension business in Hong Kong is expected to start contributing significantly in 2H 2026.

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/
‌
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investing involves risk. Please consult a licensed financial advisor to ensure any investment is suitable for your specific financial circumstances and risk profile.

‌Technical Analysis (TA): The "Rising Wedge" Dilemma

$Keppel DC Reit(AJBU.SI) 

The chart highlights a Rising Wedge pattern, a classic technical formation that often signals a potential trend reversal or consolidation.

1. Pattern & Price Action

• The Wedge: Price is currently trading within converging upward trendlines. While it looks bullish because it's making higher highs and higher lows, a rising wedge is traditionally a bearish reversal pattern in a mature uptrend.


• Key Resistance: The upper boundary of the wedge sits around $2.50 – $2.55. Price recently touched $2.38 (as of April 23, 2026), showing some resistance as it nears the upper rail.


• Immediate Support: Watch the lower trendline, currently around $2.25. A breakdown below this line with high volume could trigger a sell-off toward the $2.10–$2.15 zone.

2. Moving Averages (MA Cross)

• The chart shows a cluster of moving averages (20, 50, and 200-day).


• Bullish Alignment: The shorter-term averages (pink/blue) are trending above the long-term green line (likely the 200-day MA), which is currently at $2.28. As long as the price stays above this "Golden Zone," the medium-term trend remains healthy.

3. Momentum Indicators

• RSI: Recent data suggests the RSI is hovering near 70, indicating the stock is approaching "overbought" territory. Expect some "mean reversion" or sideways consolidation soon.

Fundamental Analysis (FA): Stellar 1Q26 Performance

While the technicals suggest caution due to the wedge pattern, the fundamentals are currently exceptionally strong.

1. 1Q2026 Financial Highlights

• DPU Growth: Distribution Per Unit (DPU) for 1Q26 grew by 13.2% YoY to 2.833 cents. This beat most analyst expectations.


• Rental Reversions: The standout metric is a +50.3% rental reversion. This indicates massive demand for data center space, allowing the REIT to hike rents significantly as old leases expire.


• Occupancy: Remains robust at 95.6%, underpinned by long-term leases (WALE of 6.5 years).

2. Balance Sheet & Valuation

• Gearing: Healthy at 35.1%, well below the regulatory limit, providing room for further acquisitions.


• Cost of Debt: Dropped to 2.6% (down 20bps), which is impressive in the current interest rate environment.


• Yield: At the current price of $2.38, the forward dividend yield is approximately 4.4% – 4.8%.

3. Risks & Catalysts

• Catalysts: Potential tax transparency for SGP 7 & 8 and the possible recovery of rent arrears from Bluesea (China) could provide further DPU upside.


• Risks: Geopolitical tensions in the Middle East affecting energy costs (though the manager notes electricity is <3% of OPEX due to hedging).

Bottom Line: Keppel DC REIT is firing on all cylinders operationally. However, the chart shows the "easy money" from the recent rally might be over extended. Look for entry points near the 200-day MA or the bottom of the wedge.

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/
‌
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investing involves risk. Please consult a licensed financial advisor to ensure any investment is suitable for your specific financial circumstances and risk profile.

$AvePoint(AVP.SI) 

Atlassian (NASDAQ: TEAM) just dropped a monster quarter — $1.79B revenue, up 32% YoY, cloud growth accelerating to 29%, EPS at $1.75 well ahead of consensus expectations.

The stock surged 29% in a single session. More importantly, customers using Atlassian's Rovo AI are growing their ARR at roughly twice the rate of those who aren't — which settles the debate:

💡 AI isn't killing SaaS. It's supercharging it.

TEAM's blowout result has lifted the entire SaaS sector over the past two days, and I think the momentum is spilling over.

So where does that lead me? AvePoint (SGX: AVP | Nasdaq: AVPT).

AvePoint is the first B2B SaaS stock listed on SGX and the first company ever dual-listed on both Nasdaq and SGX — sitting at the exact intersection of AI and cloud data governance. Every new SaaS seat that gets sold needs to be backed up, secured, and governed. That's AvePoint's business.

The fundamentals are hard to ignore:

* FY2025 SaaS revenue: $319.2M (+38% YoY). Total ARR: $416.8M (+27% YoY).

* 11 consecutive quarters of double-digit net new ARR growth.

* $481M cash on hand, GAAP operating income of $33M — profitable, not a burn story.

* Omdia projects the global AI partner opportunity at $276B by 2030, with compliance services growing 21% for MSPs in 2026 alone.

📈 Technical View:

AVP peaked at S$20.40 (IPO day), then dropped to S$11.34 on AI disruption fears — a narrative TEAM just challenged.

Now forming a reverse head & shoulders, neckline at S$13.13.

Expect breakout, tracking strength from AVPT in Nasdaq.

My General X indicator triggered a Buy signal on 29 Apr — confirming the technical picture was shifting

Next Targets:

🎯 S$14.47

🎯 S$15.84

My Trade Action:

Initiating my first tranche at S$13.10 yesterday. I'll be looking to add more when the market opens this morning, as I want to build the full position before the next catalyst kicks in.

📍 With Q1 2026 results dropping on May 7, the fundamental trigger is just days away.

⚠️ Risk to watch: Consumption-based SaaS revenue can be lumpy, and the stock has already de-rated significantly from its listing highs. This is a conviction trade, not a sure thing. Size accordingly.

⚠️ Exit if the price closes below 20 EMA for 2 consecutive days.

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 ‘Weekly Ideas - InvestSG’ on WhatsApp: https://wa.me/6590908871

On 14 Jan 2026, China regulators launched an antitrust probe into Trip .com Group under the Anti-Monopoly Law, alleging abuse of dominant market position.

👉 HK shares fell ~20% intraday on the news.

My Positioning

In my previous post, I shared that I caught the falling knife on Day 1.

👉 First entry: $Trip.com HK SDR 50to1(HTGD.SI) at 1.53

Now, I’m preparing for my second entry.

👉 Planned add: 1.37 – 1.38

💡 Why I’m Adding Again

1️⃣Regulatory Context — Bigger Picture

On 23 Mar 2026, Beijing regulators held admonition talks with 12 platform companies, including Trip .com Group and competitors like Meituan and Qunar, targeting “involution-style competition” (内卷) and pushing for better pricing transparency and platform practices, with requirements for rectification plans.

👉This suggests broader sector-wide regulatory tightening, rather than a Trip.com-specific crackdown.

2️⃣Fundamentals Remain Strong

FY2025 results (Feb 2026):

• Full-year revenue: RMB 62.4B      (+17% YoY)


• Q4 revenue: RMB 15.4B (+21% YoY)


• Net profit: RMB 33.4B (nearly      doubled YoY)

Q4 segment growth:

• Accommodation: +21%


• Transportation: +12%


• Packaged tours: +21%

👉 This is a sentiment + regulatory issue, not a demand problem.

3️⃣Overlooked Catalyst — China Inbound Tourism

China’s inbound tourism is accelerating:

• Inbound tourists: 154.5M (+17.1%      YoY)


• Tourism revenue: US$131.1B      (+39.2% YoY)


• Travel service exports: US$55.16B      (+49.1% YoY)

👉 Strong signal that global demand for China travel is returning 

👉 Trip.com Group is a direct beneficiary

🏦 Analyst View

JPMorgan Chase — Overweight | Target: HKD 600 (SDR S$1.95)

JPMorgan believes the market has mispriced Trip .com Group, viewing current headwinds — antitrust probe, AI disruption, oil prices, geopolitics — as temporary, not structural.

👉 Long-term profitability and market position remain intact.

Source: AAStocks Financial News, 23 Apr 2026

📈 My Technical View

After the 14 Jan crash, price briefly rebounded before trending lower, finding support at HKD 389.80 (SDR ~1.26) and consolidating for over a month. By 15 Apr, momentum started to build, with my General X trend-following indicator triggering a buy signal. As this is a second entry, I’m waiting for confirmation — a pullback to the 20 EMA followed by a rebound, with my planned entry at 1.37–1.38 (SDR).I will consider adding more if the SDR breaks above 1.40 (HKD 432.40).

Technical targets:
🎯 S$1.63 (HKD 500.50)
🎯 S$1.73 (HKD 531.50)
🎯 S$1.99 (HKD 613.00)

⚠️Exit if the price closes below 20 EMA for 2 consecutive days.

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 ‘Weekly Ideas - InvestSG’ on WhatsApp: https://wa.me/6590908871

Last week market sentiment is turning up. Momentum getting stronger. Construction sector is moving.

My favorite, nothing compares to $Wee Hur(E3B.SI).

I have been following Wee Hur since 21 cents two years ago.
I rode the trend with my clients, monitoring it day in day out.

Today, Wee Hur is no longer just a small construction company.

Wee Hur is now part of the iEdge Singapore Next 50 Index

• It is among the next tier of large and liquid companies on SGX


• More visibility to institutional investors


• Potential inclusion in fund flows linked to EQDP initiatives and future ETFs

To me, it has two engines now:

🏗️Engine 1: Construction

• S$673m order book


• Visibility till around 2029


• Supported by strong project pipeline


• This gives the company multi year earnings visibility

🏢 Engine 2: Dormitory

• Pioneer Lodge expansion with +67% capacity


• +10,500 beds already completed in FY25


• Meaningful earnings uplift expected from FY26

This is important.

👉Recurring income
👉Rising dorm rents
👉More stable earnings profile

📊 Analyst Target Price:

Phillip Research: S$1.08
DBS Research: S$0.90

📉 Technical View:

Wee Hur price action is almost textbook for technical analysis.

It corrected significantly after forming a triple top around 0.925,
and came down to form a triple bottom near 0.64.

Last Friday, price broke above the 200EMA,
coinciding with DBS initiating Buy with target price 0.90.

My General X momentum trend following indicator also triggered a buy signal on Friday.

📌 My Trade Action

I initiated a position with an average price of 0.7333 on Friday

Target:

🎯 0.785
🎯 0.85
🎯 0.925

⚠️ Exit if the price closes below 20 EMA for 2 consecutive days

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 ‘InvestSG’ on WhatsApp: https://wa.me/6590908871