The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

2144 ET - ST Emgineering's earnings outlook appears robust, says RHB Research's Shekhar Jaiswal in a report. The technology, defence and engineering group's record order book of S$32.6 billion provides roughly three years of revenue visibility, the analyst says. Net gearing is expected to fall to 81% by end-2027 from 183% in 2024. The restructuring of its aviation asset management into a fund platform could lift assets under management to US$3.5 billion by 2029, the analyst says. Upside could come from stronger international defense orders and lower interest costs. Key risks include the pace of aerospace recovery, margin pressure, delivery delays and acquisitions. RHB maintains a buy rating on the stock and a target price of S$9.40. Shares are up 2.1% at S$8.35. (ronnie.harui@wsj.com)

2143 ET - The Singapore dollar consolidates against the U.S. dollar in the Asian session amid a lack of fresh catalysts. Meanwhile, the USD/SGD daily chart shows signs that bearish momentum is fading, with the relative strength index higher, notes OCBC's Christopher Wong. "More broadly, we monitor if a cup-and-saucer pattern appears to be forming," says the FX strategist. "This can be a bullish setup for the medium term." Resistance is seen at 1.2950-1.2960, while support lies at 1.2900 and 1.2870 levels, Wong adds. USD/SGD is little changed at 1.2925. (ronnie.harui@wsj.com)

2116 ET - IHH Healthcare's associate Fortis Healthcare plans to acquire People Tree Hospital Yeshwantpur in Bengaluru for INR4.3 billion is likely neutral for IHH, CIMB Securities analyst Chun Sung Oong says in a note. The acquisition's estimated earnings impact is limited to about 0.1% of IHH's 2026 forecast earnings and unlikely to affect IHH's net gearing, he says. While the purchase supports Fortis' strategy to expand bed capacity in India, the share price reaction is likely to be muted, he reckons. However, IHH remains CIMB's sector top pick, driven by better earnings visibility in Singapore, improving efficiency in India and rising medical tourism revenue in Malaysia. CIMB maintains a buy rating on IHH and keeps the target price at MYR9.40. Shares are 0.6% higher at MYR8.57.(yingxian.wong@wsj.com)

2102 ET - Iron ore rises in early Asian trade. Prices are likely to trade in a sideways range as it faces supply-related pressures from increased shipments while seeing support from steel mill profit rebounds after cuts in production, driving inventories below seasonal norms, Nanhua Futures analysts say in a note. After a short-term recovery in prices, the potential for significant upsides are likely to be limited, they add. The most traded iron-ore contract on the Dalian Commodity Exchange is up 0.3% at 779.5 yuan a ton. (kimberley.kao@wsj.com)

2027 ET - Kuala Lumpur Kepong's recent 419-acres industrial park JV deal with Mah Sing in Johor appears positive, Kenanga IB analyst Khoo Teng Chuan says in a note. Under the deal, a KL Kepong unit will sell the 419-acre land parcel to the JV for MYR273 million, with the venture held 40:60 by KL Kepong and Mah Sing, respectively, he notes. The estimated gross development value for the industrial park is MYR2.26 billion. Besides the one-off land disposal gain of MYR77 million, KL Kepong is expected to enjoy recurring development profits, including an enhancement in the value of its remaining 2,181 acres of land in the vicinity and lower gearing, he says. Kenanga maintains an outperform rating on KL Kepong and keeps target price at MYR24.00. Shares are 1.8% lower at MYR19.64. (yingxian.wong@wsj.com)

1929 ET - Japanese stocks are higher in early trade after the yen weakened sharply following the Bank of Japan's widely anticipated rate increase on Friday. Chip-related stocks are leading the gains. SoftBank Group is up 6.7%, Kioxia Holdings is 5.7% higher, and Tokyo Electron Ltd. is up 5.1%. USD/JPY is at 157.56, up from 155.95 as of Friday's Tokyo stock market close. Investors are closely watching progress in Prime Minister Sanae Takaichi's policy steps to bolster the economy. The Nikkei Stock Average is up 1.5% at 50257.94. (kosaku.narioka@wsj.com; @kosakunarioka)

1845 ET - Japanese stocks may rise after the yen has weakened sharply following the Bank of Japan's widely anticipated rate increase on Friday. Nikkei futures are up 1.9% at 50465 on the SGX. USD/JPY is at 157.61, up from 155.95 as of Friday's Tokyo stock market close. Investors are focusing on progress in Prime Minister Sanae Takaichi's policy steps aimed at bolstering the economy. The Nikkei Stock Average rose 1.0% to 49507.21 on Friday. (kosaku.narioka@wsj.com)

(END) Dow Jones Newswires

December 21, 2025 21:44 ET (02:44 GMT)

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