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Asian markets are facing uncertainty due to potential tariffs from the U.S. and China's cautious fiscal policies aimed at stabilizing its economy. The Hang Seng Index is testing a critical support level, while the Nikkei 225 shows resilience amid an ascending wedge formation. Meanwhile, the Singapore Blue Chip Index is on an upward trend, bolstered by a strong banking sector and positive earnings.
The Hong Kong Monetary Authority has reduced its base interest rate by a quarter-percentage point to 5%, following the US Federal Reserve's policy easing. This decision aims to bolster an economy facing challenges from weak consumer spending, reflecting the city's currency peg to the US dollar.
UBS has rated Infineon Technologies AG a 'Buy' with a target price of 42 euros. As a leading semiconductor manufacturer, Infineon's diverse product range serves various sectors, with 50.5% of sales from the automotive industry and significant contributions from power and sensor systems, industrial power control, and networked secure systems. Geographically, the company generates substantial revenue from China, Europe, and the USA.
Ferrari N.V. operates as a holding company with three main business segments: luxury sports car manufacturing and sales (85.8% of sales), engine manufacturing (2.1% under the Maserati brand), and other activities including sponsorships and financial services (12.1%). Sales are geographically distributed with the largest markets being the United States (25.7%), Europe-Middle East-Africa (21.9%), and China-Hong Kong-Taiwan (9.8%).
HKBN Ltd., a Hong Kong broadband service provider, is pursuing a loan of approximately HK$6.25 billion ($800 million) for refinancing purposes. Four to five banks are expected to underwrite the deal, although the financing details are still subject to change as negotiations progress.
Kaisa Group Holdings Ltd. is putting its Hong Kong headquarters office up for sale as part of efforts to alleviate funding pressures. The company is offering the 30th floor of The Center for over HK$500 million ($64.3 million), having pledged the premises to Kingston Finance Ltd. in 2023 to secure a loan.
A luxury apartment in Hong Kong's Mid-Levels, previously owned by textile businessman Andrew Hui, was sold for HK$110 million ($14.1 million) after being seized by creditors. This sale represents a nearly 40% drop from its original asking price of HK$180 million set in 2022. The property is located in The Mayfair development.
A record number of wealthy Americans are planning to leave the U.S. amid fears of political and social unrest following the election. Demand for second passports and long-term residencies abroad has surged, with many citing concerns over violence, taxation, and political climate as primary motivators. Popular destinations include European countries like Portugal and Malta, as well as Caribbean nations like Antigua, with the process for obtaining citizenship becoming increasingly competitive and lengthy.
UBS analyst Chen Chen upgraded Wuxi Apptec from Neutral to Buy, raising the price target from HK$40.10 to HK$70.40, citing signs of recovery in the CRO sector and growth in revenue and backlog. Despite disappointing Q3 results, the outlook is bolstered by potential biopharma funding from recent Federal Reserve rate cuts and Chinese economic stimulus. UBS has also revised its revenue, margin, and EPS estimates for 2025-2028, reflecting a more optimistic financial forecast for the company.
UBS analyst Chen Chen upgraded Wuxi Apptec from Neutral to Buy, raising the price target from HK$40.10 to HK$70.40, citing signs of recovery in the CRO sector and improved revenue growth. Despite the company's Q3 2024 results missing estimates, the outlook is bolstered by potential economic stimulus in China and recent Federal Reserve rate cuts. UBS has also revised its revenue, margin, and EPS estimates for 2025-2028, reflecting a more favorable risk-return balance for investors.
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