UOBKH: Retail Market Monitor - Tuesday, 11 January 2022

WHAT HAPPENED LAST NIGHT
US stocks were mixed after the close on Monday, as gains in the health, technology and communication sectors led shares higher and losses in industrials, materials and consumer staples sectors led shares lower. At the close of the NYSE, the DJIA fell 0.45% while the S&P 500 index was down 0.14%, and the NASDAQ Composite index advanced 0.05%. Falling stocks outnumbered advancing ones on the NYSE by 2,133 to 1,218 and 178 ended unchanged; on the Nasdaq Stock Exchange, 3,126 declined and 1,697 advanced, while 267 ended unchanged. (Source: WSJ, CNBC)

Singapore Company Update:
ComfortDelGro Corporation - New year, new beginning.
(CD SP/BUY/S$1.34/Target: S$1.90)
For 2021, we expect a robust 143% yoy growth in net profit, coming off a low base in 2020. Looking forward, an expected recovery in ridership levels and new contract wins would boost 2022 earnings. Maintain BUY with a lower target price of S$1.90 (S$1.99)…

HK/ China Company Update:
Xiaomi Corporation – A global smartphone and AI-IoT powerhouse.
(1810 HK/BUY/HK$18.52/Target:HK$21.80)
We expect Xiaomi to outperform its peers in the global smartphone market through competitive model launches and high-end migration, while its rapid offline channel expansion in China will allow market share wins against Oppo and Vivo amid the competitive domestic market. Its unparalleled AI-IoT ecosystem will remain a major competitive edge against its peers, providing synergy and cross selling between its hardware products. Initiate coverage with BUY and a target price of HK$21.80…

Singapore Technical Analysis:
Olam International (OLAM SP) - Trading BUY
Price broke and closed above the cloud during the last trading session, turning the stock outlook from bearish to bullish. There is a bullish conversion and base line crossover that hints at potential upside ahead…

Jiutian Chemical Group (JIUC SP) - Trading BUY
Price has been moving along with the middle Bollinger band, which is also the rising 20-day moving average. The MACD is bullish and is moving higher, suggesting potential upside ahead…

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