The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0911 GMT - Alibaba Pictures should benefit from its rich movie pipeline as the holiday season approaches, say Citi analysts led by Vicky Wei in a research note. With New Year's Day and Lunar New Year approaching, a number of upcoming movies, such as "Big World" and "Octopus With Broken Arms" may be potential catalysts for Alibaba Pictures. The Citi analysts also see improving audience feedback for the movie "Her Story," which opened in late November and has so far recorded 545 million yuan in box-office receipts. Citi maintains a buy rating on the stock with a target price of HK$0.55. Shares closed 5.8% higher at HK$0.455. (tracy.qu@wsj.com)

0817 GMT - The Malaysian semiconductor sector is likely to continue a gradual earnings recovery driven by an expected rebound global demand, TA Securities analyst Chan Mun Chun writes in a note. Most local tech companies are likely to report a forex recovery in the upcoming quarter, attributed to the recent weakening of the ringgit against the dollar, the analyst notes. However, the analyst adds that any further protectionist policies introduced by U.S. President-elect Trump could create additional trade diversion opportunities for Malaysia under the "China Plus One" strategy. TA Securities maintains an overweight stance on Malaysia's semiconductor sector and reiterates its buy ratings for Inari Amertron, Unisem $(MIMI)$, Malaysian Pacific Industries and Elsoft Research.(amanda.lee@wsj.com)

0431 GMT - China's retaliation against the chip restrictions imposed by the U.S. hints at Beijing's future trade war strategy, economists at Capital Economics say in a research note. Tariff retaliation isn't appealing for China due to its much smaller imports from the U.S. However, "non-tariff measures like export controls can be targeted more narrowly to cause pain in strategically-important industries," they say. China supplies to the U.S. about a fifth of the three minerals whose exports it has banned to the U.S., they say. There are many such critical minerals, such as Manganese and Molybdenum, where China is both the main supplier to the U.S. and a dominant global exporter, CE adds. (sherry.qin@wsj.com)

0353 GMT - The Malaysian technology sector's 4Q earnings should improve due to factors including favorable FX rates, RHB IB analyst Lee Meng Horng writes in a note. RHB IB continues to observe constructive on-year revenue growth trend in 3Q, supported by a gradual recovery. Although the tone from technology companies' management teams points to shorter earnings visibility, the analyst expects stronger orders heading into 2025. These orders are anticipated to be driven by new opportunities and clientele arising from "plausible circumstances related to China Plus One and Taiwan Plus One," the analyst adds. RHB IB maintains an overweight rating on Malaysia's technology sector, with top picks including Malaysian Pacific Industries and CTOS Digital.(amanda.lee@wsj.com)

0313 GMT - Morgan Stanley analysts stay bullish on Tuas after the Singaporean mobile-network operator beat their first-quarter margin expectations. They tell clients in a note that the Australia-listed company's 46% first-quarter Ebitda margin implies annualized earnings of S$64.4 million. They had forecast a full-year margin of 40.3%, lifting it to 43.3% following the trading update. Tuas still has a long growth runway as it expands into new product and customer segments, they add. MS stays overweight on the stock and lifts its target price by 22% to A$6.70. Shares are up 7.1% at A$6.51. (stuart.condie@wsj.com)

0309 GMT - JD Logistics' acquisition of Kuayue Express is a positive move, Citi analysts led by Brian Gong and Alicia Yap say in a research note. They note the deal demonstrates reasonable valuation and signals potential earnings enhancement to JD Logistics. Following the deal, the logistic arm of JD.com could further integrate with Kuayue in terms of air cargo capacities, transportation vehicles and sales force, they add. Citi maintains a buy rating for JD Logistics on decent margin improvements, potential benefits from trade-in subsidies and other factors, with a target price of HK$19.00. Shares are 1.4% higher at HK$14.56. (tracy.qu@wsj.com)

0305 GMT - The chances of the Biosecure Act, which targets Chinese biotech companies, being passed by the outgoing Biden administration are diminishing due to the lack of time, Citi analysts say in a research note. The Biosecure Act was not included in the U.S. fiscal 2025 National Defense Authorization Act released on December 7. Citi analysts view this development as "more positive" than expected. While this does not rule out the possibility of the legislation being passed next year, the market is likely to react positively to the news today, they note. WuXi AppTec's H shares rise 8.2% to HK$59.05 and WuXi Biologics climbs 9.2% to HK$18.94. (sherry.qin@wsj.com)

0050 GMT - Titomic's demonstration of strong commercial momentum with high-profile customers including Airbus, Boeing, and France's navy help secure a new bull for the Australian additive-manufacturing company. Shaw & Partners analyst Abraham Akra initiates coverage of the stock with a buy rating, citing the value of Titomic's manufacturing certifications in expanding its reach into aerospace and defense markets. Its diverse revenue streams across machine sales, consumables and service contracts stabilize income and promote deeper customer engagement and retention, he writes in a note. Shaw places a A$0.30 target price on the stock, which is down 1.4% at A$0.1775. (stuart.condie@wsj.com)

0038 GMT - U.S. efforts to re-shore industrial capabilities and bolster supply-chain resilience help secure a new bull for Australian 3D printer AML3D. Shaw & Partners analyst Abraham Akra initiates coverage of the stock with a buy rating, telling clients in a note that AML3D's blue-chip client base and position with U.S. Navy supply chains are particularly exciting. Akra says that Europe looks like AML3D's next growth market after the U.S., while the company's shift to a recurring-revenue model enables larger contracts, stable revenues and predictability. Shaw & Partners places a A$0.40 target price on the stock, which is up 2.4% at A$0.215. (stuart.condie@wsj.com)

2321 GMT - Internet-service providers have been required since earlier this year to list standardized price and speed data on labels that look like the nutrition-facts panels on packaged foods, allowing consumers to compare plans. But broadband users often don't know to look for them. Or can't find them. Or, when they do manage to track down the labels, they see misleading or unhelpful information about their internet speeds or pricing. The Federal Communications Commission mandated the labels but hasn't taken steps that could make them more useful to consumers, such as standardizing how companies display the labels, said consumer advocates and industry watchdogs. "We've always thought of the labels as an iterative process," the FCC said in a statement, adding that the current labels are "a starting point" and it is mounting a consumer-awareness campaign for them. (patience.haggin@wsj.com)

(END) Dow Jones Newswires

December 09, 2024 04:20 ET (09:20 GMT)

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