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Fore Coffee has filed for an IPO amid a temporary trading halt on the local exchange due to a market dip. The company plans to use the funds for expansion, targeting 60 new stores this year, including a second location in Singapore.In other news, Grab is expanding its grocery segment in Malaysia, which has outpaced its food delivery growth for two consecutive quarters. The company is acquiring Everrise to enhance its presence in the grocery market, despite challenges in profit margins.
UBS analyst Mark Leung has upgraded Link REIT's stock rating from Neutral to Buy, raising the price target to HK$41.00 from HK$37.40. This decision follows an analysis indicating a stabilization in northbound consumption and a projected turnaround in tenant sales in Hong Kong for fiscal years 2026/27, despite a decline expected in 2025. The anticipated growth is supported by government initiatives and the proposed REIT Connect scheme, which could enhance cross-border investments.
UBS has upgraded Link REIT shares to "Buy" and increased the target price to HK$41.00, citing a stable trend in northbound consumption and a projected turnaround in tenant sales for the 2026/27 financial years. The report anticipates a 1-2% growth in sales following a decline in 2025, supported by government initiatives to reassess traffic fines, which may boost parking revenue. Additionally, the proposed REIT Connect program could enhance cross-border investments, positively impacting Link REIT's performance.
UBS analyst Mark Leung has upgraded Link REIT's rating from Neutral to Buy, raising the price target to HK$41.00 from HK$37.40. This revision is based on positive trends in mainland Chinese visitor spending and anticipated tenant sales growth of 1-2% in FY 2026/27, following a projected decline in FY 2025. The report also notes the potential impact of the proposed REIT Connect system on cross-border investments between mainland China and Hong Kong.
BNP Paribas Exane has revised its price target for Micron Technology to $75 from $70 while maintaining an underperform rating. Micron specializes in semiconductors, with a diverse product range including memory products and systems, and generates significant sales from IT infrastructure and mobile devices. The company operates 11 manufacturing sites globally, with the majority of its net sales coming from the United States.
HSBC has upgraded China Resources Power Holdings from Hold to Buy, raising the price target to HK$22 from HK$19.10, driven by a positive outlook for its renewable energy segment. Despite a reduction in net profit forecasts for 2025 and 2026, the company is expected to benefit from declining coal prices and potential asset spin-offs. Conversely, UBS downgraded the stock to Neutral, slashing its target to HK$18 due to anticipated challenges, including a significant tariff cut and reduced coal power utilization.
PING AN Co-CEO Michael Guo expressed enthusiasm for HSBC HOLDINGS' stock price rebound and the strategic direction under CEO Georges Elhedery. He supports Elhedery's overhaul plan, emphasizing that any reforms should enhance shareholder value, and noted the recent stock performance as healthy.
Manycore Tech Inc., a Chinese AI startup specializing in spatial design software, is expanding its global presence despite ongoing US-China tensions. With teams in over 10 countries and serving enterprise customers in 200 markets, the company reported 86.3 million monthly active visitors in 2024.Recognized as one of Hangzhou’s “Six Little Dragons,” Manycore filed for a Hong Kong IPO after abandoning US listing plans due to regulatory challenges. While focusing on affordability to grow its user base, the company reported a loss of 422.1 million yuan (US$58.3 million) in the first nine months of 2024.
Barclays has appointed Nitin Singh as the head of its Asia operations, a notable move as it is uncommon for such a position to be based in India. This decision reflects the bank's renewed focus on the region, highlighted by plans to establish a new booking center in Singapore by 2026, following its previous exit from the market.
Morgan Stanley has downgraded Kingdee International Software from Overweight to Equal-weight, raising the price target to HK$13.50 from HK$10.00. This change reflects concerns over the company's reliance on medium-sized enterprises, which are vulnerable to macroeconomic shifts and technology cycles. Analysts noted that Kingdee's valuation metrics are less attractive compared to global peers like Salesforce and SAP, with weaker growth prospects and lower profitability, suggesting potential investors may want to wait for a better entry point.
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fore coffee plans ipo amid market volatility and expansion efforts
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08:00 24.03.2025
ubs upgrades link reit to buy raises target to hk41.00
07:18 24.03.2025
ubs upgrades link reit to buy raises target price to hk41
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ubs upgrades link reit rating and raises target to hk41.00
06:51 24.03.2025
bnp paribas exane raises price target on micron technology to seventy five dollars
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11:41 21.03.2025
hsbc upgrades china resources power to buy with new price target
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ping an supports hsbc's reform plan amid stock price rebound
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Chinese tech firm Manycore expands globally amid US tensions and financial losses
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06:50 20.03.2025
barclays appoints nitin singh as asia head from india for comeback strategy
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01:39 20.03.2025
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