PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Earnings from OCBC, Sembcorp Industries, Singapore Airlines & Singapore Post
The earnings reports from key Singaporean companies like OCBC, Sembcorp, Singapore Airlines, and Singapore Post indicate a generally mixed performance, with declines in profits for most.
Major Japanese brokerage warns that yen could test post-election low if BoJ appointments are dovish
China may see lower rates from Q2, according to experts cited by China Securities Journal
PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Earnings from OCBC, Sembcorp Industries, Singapore Airlines & Singapore Post
Australian Inflation Rate YoY (Jan) Y/Y 3.8% vs. Exp. 3.7% (Prev. 3.8%, Low. 3.4%, High. 4%)
Australian Inflation Rate MoM (Jan) M/M 0.4% vs. Exp. 0.3% (Prev. 1.0%, Low. -0.1%, High. 0.5%)
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TAIWAN
ChipMOS Technologies (8150 TT) - Co. plans to increase capital expenditure this year to 22-27% of revenue from 16% last year to expand advanced chip packaging capacity for next-generation AI and data centre chips. (Taipei Times)
E.Sun Financial Holding (2884 TT) - Co. FY (TWD) net income rose 31.2% Y/Y to 34.29bln, rev. rose to 91.77bln, and co. outlined an expansion plan to deepen integration across its banking, securities and asset management businesses. (Taipei Times)
Other News
Taiwan’s Legislative Yuan is set to forward the Executive Yuan’s proposed special defence budget to a plenary session next Friday following cross-party consensus. (Taipei Times)
SINGAPORE
Oversea-Chinese Banking Corp. (OCBC SP) - Co. FY (SGD) net profit fell 2% Y/Y to 7.42bln, total income rose 1% Y/Y to 14.61bln, net interest margin fell 29bps Y/Y to 1.91%. (Dow Jones Newsplus)
Sembcorp Industries (SCI SP) - Co. H2 (SGD) net profit fell 5% Y/Y to 448mln, turnover fell 11% Y/Y to 2.86bln; Co. FY (SGD) net profit fell 4% Y/Y to 984mln, turnover fell 10% Y/Y to 5.80bln. (Dow Jones Newsplus)
Singapore Airlines (SIA SP) - Co. Q3 (SGD) net profit fell 69% Y/Y to 505mln amid the absence of a one-off Vistara disposal gain, cargo revenue fell 5% Y/Y to 581mln, while passenger traffic rose 6% Y/Y to 10.9mln. (Straits Times)
Singapore Post (SPOST SP) - Co. Q3 (SGD) rev. fell 2% Q/Q to 92.3mln, operating profit rose 23% Q/Q to 3.8mln. (Dow Jones Newsplus)
Tech - Singapore authorities plan to tighten data centre regulations. (Straits Times)
Notably, Singapore Airlines saw a significant drop in net profit year-on-year, which could raise concerns about the recovery in air travel post-pandemic. For traders, this suggests a cautious approach to equities in the region, with potential implications for overall market sentiment and sector performance.
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