Moving on, here are the news that shocked the world…

Xi and Trump $SPX ( ▲ 0.53% )  $SSEC ( 0.0% ) : President Xi and Trump are at it again. Trump threatened 100% tariffs after Xi tightened export control on rare earth. Now, they are charging each other for ship docking fees. [Read More]

Goldman Sachs $GS ( ▼ 0.97% )  : Goldman is striking gold again. Results for 3Q exceeded expectations boosted by investment banking and fixed income trading [Read More]

Morgan Stanley $MS ( ▼ 0.84% )  : Morgan Stanley too. 3Q results massively beat expectations with profits growing by 45%, driven by investment banking and trading [Read More]

AMD X Oracle $AMD ( ▼ 0.63% )  $ORCL ( ▼ 6.93% )  : AMD is providing MI450 AI chips to Oracle to deploy about 50,000 GPUs for its Oracle Cloud business segment. [Read More]

Dollar Tree $DLTR ( ▲ 2.56% )  : Dollar Tree beat expectations for 3Q. And it’s guiding that its earnings will grow up to 15% per year for the next 3 years [Read More]

Here are the news covering the Asia market…

TSMC $TSM ( ▼ 1.59% )  : TSMC’s 3Q results exceeded expectations as its profit grew by 39% on higher demand for its AI-related chips. [Read More]

GIC: Singapore’s GIC is suing Nio for inflating its revenue numbers. It thinks that Nio is recognising revenue wholly with its subscription business when it should not do so [Read More]

Soon Hock: Soon Hock, an industrial property developer, rose by 8.6% above its IPO price on its first trading on the SGX, but ultimately close 0.9% lower [Read More]

UOL Group: An UOL Group-led consortium, has paid SG$524 million to acquire the Dorset Road land parcel [Read More]

Singapore GDP: Singapore’s economic growth moderated to 2.9% for 3Q 2025 (4Q 2025: 4.5%), but ultimately beat expectations. It warns of a slowdown in its manufacturing segment. [Read More]

See below for our handpicked analyst reports:

U.S. banks are having a hell of quarter.

From record earnings to robust revenue growth, the big boys of banking are giving its shareholders lots to smile about.

However, not all is well.

First Brand, a U.S. auto parts company, recently declared bankruptcy. And it had a massive US$11.6 billion loan on its books.

Jefferies mainly is on the hook with US$48 million as it borrowed money to the company.

And many of First Brand’s loans came from ‘private credit’.

That’s why several banks are now declaring bad loans provisions / loan loss provision.

What is it?

When a bank is worried that a loan may turn bad, it will declare a bad loans provision first to inform investors that it expects some kind of losses.

During the financial crisis of 2008, many banks hid their losses on mortgage-backed securities from investors.

• It was only when the crisis erupted that the U.S. authorities required stricter reporting of these potential losses.

• Hence, loan loss provisions became more important for investors to gauge a bank’s financial health.

It’s rare that I get to talk about DBS Group.

But here we are.

In the recent weeks, DBS has climbed to a record-high share price of SG$53.8, reaching close to US$117 billion in market capitalisation.

• It is currently the largest Singaporean company by market cap.

At its core, it has delivered consistent financial performance.

• An annual average growth of 15.8% in revenue from 2022 to 2024.

• 18.3% average growth for net profits.

And it has become the refuge for many investors during these times of uncertainties in the global trade and stock markets.

• DBS has a beta of 0.5 over the past five years, which means that it has a low correlation to the stock market.

• Steady dividend yield of 4.3% which makes it must-have for every defensive dividend investors.

For the year 2025 as a whole, DBS Group’s share price has risen by almost 20% beating the overall market and the other 2 Singaporean banks.

• Strait Times Index (STI): +13.9%

• UOB: -5.6%

• OCBC: +0.2%

DBS has clearly emerged as the cream of the crop Singaporean must-invest company.

Hope the above is fruitful for you all..

Cheers,
James Yeo