United States

  • XPeng (XPEV US) saw a large correction on Tuesday alongside other Chinese new electric vehicle stocks, potentially due to Volkswagen’s comments on how Chinese demand for its EV brands are slow. 
  • Plug Power (PLUG US) gained after reporting 1Q21 earnings before market open. Sales are up 76% year-on-year while the company stuck to its previous guidance for gross billing targets. The company expects hydrogen prices to fall in 2H21 which will translate to improved fuel segment margins. CEO Andy Marsh also announced a fifth major customer that will provide US$25mn of business in 2H21.
  • Crowdstrike (CRWD US) climbed to an all-time high after an analyst upgrade. Stifel upgraded its rating on Crowdstrike from a Hold to a Buy with a target price of US$300, citing tremendous growth potential as Crowdstrike currently only serves around 11,400 customers, against the likes of McAfee at 50,000 and Symantec at 100,000 before their acquisition by Broadcom.
  • Gamestop Corporation (GME US) gained 10% after another successful round of equity fund raising of over US$1.1bn by selling 5 million shares at market prices.

Singapore

  • Kitchen Culture Holdings Ltd (KCH SP) Shares surged by 17% due to unusually large trading volume, triggering a query from SGX. Updates will be made when Kitchen Culture has responded to SGX.
  • Nutryfarm International Ltd (NUF SP) Shares surged by 9% as the company announced that it has fulfilled its obligation of 200 containers of fresh durians amounting to RMB 130 million to Moonda. Additionally, the group has also entered into a new purchase agreement with Tianchue to procure 200 containers of fresh Thailand durians. Nutryfarm also announced that it has incorporated new subsidiaries in relation to its durian trading business activities.
  • Hour Glass Ltd (HG SP) Shares rose by 7% due to share buy-back from the company amounting to 359k shares with total consideration worth S$497k.
  • Alset International Ltd (ALST SP) Shares rose significantly by 19% during intra-day trading but eased to close at 6%. This was due to Alset’s announcement that it will be entering into a partnership with electric vehicle (EV) company Tesla to deliver its first 20 eco-friendly homes in the Houston area of Texas.
  • Sarine Technologies Ltd (SARINE SP) Shares rose by 6% due to share buy-back from the company amounting to 350k shares with total consideration worth S$214k. We currently have an OUTPERFORM recommendation and target price of S$0.82.
  • Q&M Dental (QNM SP) Shares rose 4% on higher than average trading volumes after the company was featured in The Business Times for its AI and tech investments. We have an OUTPERFORM recommendation and a target price of S$0.91.
  • Trading Dashboard: Cut loss on UMS Holdings (UMSH SP) at S$1.39

Hong Kong

  • Shandong Weigao Group Medical Polymer Co Ltd, (1066 HK) Microport Scientific Corp (853 HK) Medical equipment sector jumped as the national volume-based procurement (VBP) office for medical consumables released the finalised tendering rules for the upcoming VBP for hip/knee. 
  • Angelalign Technology Inc (6699 HK) Shares were trading higher as Tianfeng Securities initiated with a target price of HK$468 and a BUY rating. The stock was listed on 16th June with an IPO price of HK$173. Share prices reached a high of HK$490 and a low of HK$370.2 after the debut. 
  • Shimao Services Holdings Ltd (873 HK) Shares closed at an all-time high. Property management sector jumped. Previously, JP Morgan issued a sector update report and reiterated a positive outlook expectation. The sector stocks are expected to have 20% upside by early August as companies are expected to announce positive earning alerts in July.  
  • China Longyuan Power Group Corp Ltd (916HK) Shares closed at a high since February. The company announced it and Pingzhuang Energy agreed to conduct the Merger by way of absorption and merger through share swap, namely that the company will absorb and merge Pingzhuang Energy through share swap by issuance of A Shares to all the conversion Shareholders of Pingzhuang Energy.
  • Trading Dashboard: Cut loss on Nongfu Spring (9633 HK) at HK$39.8.