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16 June 2022: Stocks making the biggest moves

Market Movers | Trading Dashboard

United States

Top Sector Gainers

SectorGainRelated News
Internet Retail+4.4%Nasdaq Bulls See Glimmer of Hope in Aggressive Fed
Amazon.com Inc (AMZN US)
Motor Vehicles+4.2%Chinese Tesla rival Nio launches new electric SUV
Nio Inc (NIO US)
Internet Software/Services+3.1%Nasdaq Bulls See Glimmer of Hope in Aggressive Fed
Alphabet Inc (GOOG US)

Top Sector Losers

SectorLossRelated News
Oil & Gas Production-1.9%Oil prices fall over 2% as Federal Reserve hikes interest rates
ConocoPhillips (COP US)
Oil & Gas Pipelines-1.3%Oil prices fall over 2% as Federal Reserve hikes interest rates
Enbridge Inc (ENB US)
Integrated Oil-0.6%Oil prices fall over 2% as Federal Reserve hikes interest rates
Exxon Mobil Corp (XOM US)
  • Boeing Co (BA US) stock rose 9.5% after Reuters reported that airline China Southern conducted test flights with Boeing’s 737 Max jet. Shares of Boeing have been volatile recently and are on track for their fifth straight session of a 4% or greater move in either direction.
  • Snowflake Inc (SNOW US) stock jumped 7.6% following an upgrade to buy from hold by Canaccord Genuity. The investment firm said Snowflake’s stock looks cheap based on the company’s long-term growth potential.
  • Spotify Technology SA (SPOT US) stock surged 7.5% after Wells Fargo upgraded Spotify to equal weight from underweight. Wells Fargo said Spotify has room to improve its margins.
  • Moderna Inc (MRNA US) stock jumped 5.7% after a Food and Drug Administration committee voted to recommend Moderna’s Covid vaccine to children ages six through 17. The FDA is expected to authorise vaccines for children later this week.
  • Tapestry Inc (TPR US) stock jumped 3.5% after an upgrade to buy at Jefferies. The investment firm said Tapestry’s improvement in its digital business and opportunities in China provide upside for the stock.

Singapore

  • Nio Inc (NIO SP) shares rose 14.6% yesterday. Nio will hold a product launch event on 15 June 8pm Singapore time, and although the company hasn’t specified what product will hold the spotlight, it should be its ES7 SUV. Nio released a teaser video of the new model today, giving a sneak peek into its camera and lidar sensor system. It’s an important event, as Nio has been postponing ES7’s launch since April amid COVID-19 restrictions in China. ES7 will be Nio’s sixth EV and is a mid-to-large-size five-seater SUV, between the ES6 and ES8.
  • CDL Hospitality Trust (CDREIT SP), Frasers Centrepoint Trust (FCT SP). As travel restrictions are lifted, analysts are becoming increasingly bullish on the outlook for hospitality trusts. DBS Group Research believes that the worst of the lockdowns are done and dusted. “The return of leisure travel has led to hoteliers’ hiking room rates. Leisure demand is poised for a meaningful upturn come 2H2022 as governments across the world ease Covid tests and quarantine requirements for vaccinated travellers,” a May DBS report points out.
  • Lion-OCBC Securities Hang Seng Tech ETF (HST SP) units rose 3.1% yesterday. The gains came after data showed industrial production rose unexpectedly in May, though consumption data remained weaker as shoppers were confined to their homes in Shanghai and other cities. “The government is likely to respond to… economic weakness by delivering more fiscal stimulus. At the same time, to avoid a rapid rise in fiscal leverage, the government may also continue to deregulate some sectors to help promote tax revenue growth and employment,” Iris Pang, chief economist for Greater China at ING, said in a note.
  • mm2 Asia Ltd (MM2 SP) shares rose 3.4% yesterday. With growing immunity to Covid-19, recovery is on track for mm2 Asia, say UOB Kay Hian Research analysts Llelleythan Tan and John Cheong. In a June 10 note, Tan and Cheong are maintaining “buy” on mm2 Asia with an unchanged target price of 11.5 cents. This represents a 104.8% upside. “The cinema and concert segments have reached inflection points where business is ramping up while the core production business experiences growing demand. The group is exploring options to refinance its maturing debt which may include an IPO or divestment of its Cathay cinema business,” write Tan and Cheong.

Hong Kong

Top Sector Gainers

Sector

Gain

Related News

Insurance

+2.36%

HSBC’s largest shareholder wants the bank to spin off its Asia operations, in a move that could unlock $26.5 billion of market value

Ping An Insurance (Group) Company of China, Ltd (2318 HK)

Other Support Services

+1.75%

Livestreaming E-Commerce Revives Fortunes of Tutoring Giant New Oriental

Koolearn Technology Holding Ltd (1797 HK)

Property Investment

+1.49%

China May property sales fall at slower pace as policies buoy demand

Sun Hung Kai Properties Limited (16 HK)

Top Sector Losers

Sector

Loss

Related News

Infrastructure

-2.17%

China’s Economy Shows Mixed Recovery With Consumers Under Strain

China Railway Group Ltd (390 HK)

Packaged Foods

-1.35%

NA

First Pacific Company Limited (142 HK)

Automobile Retailing, Maintenance & Repair

-1.24%

Global automotive output contracts faster in May amid uneven regional trends and despite further signs of semiconductor shortages easing

Zhongsheng Group Holdings Ltd (881 HK)

  • Nio Inc (9866 HK) shares rose 12.4% yesterday. Nio will hold a product launch event on 15 June 8pm Singapore time, and although the company hasn’t specified what product will hold the spotlight, it should be its ES7 SUV. Nio released a teaser video of the new model today, giving a sneak peek into its camera and lidar sensor system. It’s an important event, as Nio has been postponing ES7’s launch since April amid COVID-19 restrictions in China. ES7 will be Nio’s sixth EV and is a mid-to-large-size five-seater SUV, between the ES6 and ES8.
  • Bilibili Inc (9626 HK) shares rose 8.4% yesterday. Bilibili announced its unaudited financial report for the first quarter ended March 31, 2022. According to the financial report, the revenue of Station B in the first quarter reached RMB 5.054 bn, a YoY increase of 30%. However, the company’s net loss was RMB 2.284 bn, compared to RMB 904 million in the same period in 2021. The company’s net loss has expanded significantly, and its performance has been significantly lower than expected
  • XPeng Inc (9868 HK) shares rose 6.6% yesterday. XPeng Motors CEO He Xiaopeng said on Tuesday that for EV users, the greatest concerns are the efficiency and convenience of vehicle charging. He also said that in the second half of the year, XPeng would start laying out a new generation of superchargers, which are four times faster than the “superchargers” currently seen on the market, and can charge car batteries from 10% to 80% in just 12 minutes.
  • Alibaba Group Holding Ltd (9988 HK), JD.com Inc (9618 HK). Hong Kong stocks rose by the most in a week as government reports signalled China’s economic recovery gained some traction last month, overcoming concerns about faster rate increases by the Federal Reserve in its policy lift-off. Industrial production increased 0.7% in May from a year earlier, the statistics bureau said on Wednesday, beating forecasts for a 0.9% contraction among economists tracked by Bloomberg. Fixed-asset investment gained 6.2% in the first five months, in line with expectations.

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Trading Dashboard Update: Cut loss on Hongkong Land (HKL SP) at S$4.8.

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