PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Powertech Technology (6239 TT) expects Q4 net profit to rise Q/Q from TWD 2.61bln in Q3

Powertech Technology (6239 TT) - Co. expects Q4 net profit to rise Q/Q from TWD 2.61bln in Q3, supported by price increases driven by rising raw material costs and memory chip shortages amid strong AI demand, with customers showing high acceptance of price adjustments. (Taipei Times)

PC Makers - HP (HPQ), Asus (2357 TT) and Acer (2353 TT) are reportedly shifting some PC production from Thailand and Vietnam back to China to offset soaring component costs driven by AI-related memory and storage shortages. (Nikkei)

Tech - Nasdaq outperformed during Wall St trade as tech continued to rebound from recent AI-related woes, while participants digested SK Hynix earnings overnight.

Taiwan's proposed 2027 general budget, including funding for TWD 10,000 cash handouts, has been referred to committee review in the Legislative Yuan. (Focus Taiwan)

CapitaLand India Trust (CLINT SP) - Co. 9M (SGD) property income 206.4mln (prev. 225.2mln Y/Y). (Newswires)

Keppel REIT (KREIT SP) - Co. 9M (SGD) net property income 181.8mln (prev. 161.3mln Y/Y), attributable net property income 166.4mln. (Newswires)

Mapletree Industrial Trust (MINT SP) - Co. Q2 (SGD) net property income 119.8mln (prev. 124.0mln Y/Y), rev. 167.0mln (prev. 170.2mln Y/Y), with yen depreciation against the SGD weighing on revenue. (Newswires)

The dominant signal here is not Powertech's sequential profit guide in isolation but the mechanism behind it: OSAT and packaging names raising prices into a memory shortage driven by AI demand, with customers accepting the increases. In past upcycles of this kind, pricing power has tended to migrate down the assembly and test chain after appearing first at the memory makers themselves, so commentary from a back-end house confirming pass-through is the tell that the cycle is broadening rather than peaking. The companion item on PC makers shifting production back to China to offset component costs points the same way: when memory and storage tightness starts dictating supply chain geography, the shortage has moved from a spot phenomenon to a planning assumption. Worth distinguishing between the two effects, margin expansion at the testers versus cost absorption at the OEMs, since they sit at opposite ends of the same squeeze. The Singapore REIT prints are a separate, more pedestrian read: income trends split between domestic currency strength, with yen depreciation explicitly cited as the drag, a channel that has recurred for trusts with Japanese asset exposure. The Taiwan budget item is procedural and historically slow-moving. Follow-ons are whether peer packaging names echo the pricing commentary and whether memory maker capex guidance confirms sustained tightness.