Toby Gresham, Citi Private Bank

Toby Gresham, Citi Private Bank

Toby Gresham

14 May 2024
Market View: “Roaring Kitty's" return and impact on meme stocks; US April CPI expectations; Chinese tech earnings: Alibaba, Tencent and more.
Singapore stocks began trading in muted tones this morning, mirroring the cautious sentiment on global markets where investors await key inflation data.
In early trade, the Straits Times Index (STI) rose 0.01 per cent to 3,303.85 points, after 52.5 million securities changed hands in the broader market.
In terms of companies to watch for today, we have Thai Beverage, after the beverage manufacturer yesterday reported a 4.9 per cent drop in net profit to seven billion baht (S$257 million) for its second quarter ended 31 March 2024.
Elsewhere from Haidilao’s restaurant operator Super Hi’s billion dollar valuation target for its US IPO to a deep dive into comments by US Federal Reserve officials and April’s US CPI expectations, more international headlines remain in focus.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

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Listen To His Previous Podcasts:

17 April 2024
Market View: Jerome Powell on recent data and confidence needed to lower rates; Singapore’s March NODX down 20.7% yoy; ASML earnings down amid China-West tensions; Morgan Stanley reportedly planning to streamline operations in China; CDL sold 65 units at The Residences at W Sentosa Cove Singapore in a week; Keppel Pacific Oak US Reit’s Q1 distributable income down 8.8%
Singapore shares opened weaker today following overnight losses on European markets.
In early trade, the Straits Times Index (STI) was down 0.1 per cent to 3,143.14 points after 33 million securities changed hands in the broader market.
In terms of companies to watch for today, we have  City Developments Ltd after its associate company Cityview Place sold 65 units at The Residences at W Sentosa Cove Singapore in a week.
This is more than the 58 units put on the market on the 9th of April.
Meanwhile from a deeper look at Singapore’s key export numbers to earnings from chipmaking equipment manufacturer ASML – more local and international headlines remain in focus.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

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12 March 2024
Market View: US Feb CPI expectations; US Presidential Candidate Donald Trump on TikTok, Meta; Keppel on Data Centre Fund II’s deal to purchase data centre in Tokyo; SGX to launch short-term interest rate futures linked to Sora, Tona; AI frenzy prompts Chinese investors to pile into Foxconn Industrial; Jollibee Foods to expand exponentially in China, triple net income in 5 years
Singapore shares began the day with gains after global equities ended mixed overnight.
In early trade, the Straits Times Index (STI) advanced 0.4 per cent to 3,151.54 points after 18 million securities changed hands in the broader market.
In terms of companies to watch for today, we have Keppel, after the asset manager said its Data Centre Fund II signed a framework agreement with Japan-listed property player Mitsui Fudosan to purchase a data centre in western Tokyo.
Elsewhere, from a rally in Foxconn Industrial amid the global artificial intelligence frenzy to what to watch ahead of February’s US consumer price index release and Jollibee targeting exponential growth in China to triple its profits  – more international headlines remain in focus.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

Download this podcast.

14 February 2024
Market View: US consumer prices hotter-than-expected; SGX turnover value up 8% mom; CapitaLand Investment’s new private fund on coliving, serviced residence; Rex International down 10% after warning of net loss; Rakuten Bank’s shares up almost 13% after raising profit forecast; GlobalFoundries on chip supply glut; Walmart reportedly buying Vizio for over US$2b
Singapore shares fell at the opening bell today, following overnight losses in global markets. That’s as US consumer inflation slowed less than expected.
In early trade, the Straits Times Index (STI) fell 1.2 per cent to 3,103.34 points after 71.9 million securities changed hands in the broader market.
In terms of companies to watch for today, we have CapitaLand Investment, after the real estate investment manager has set up a new lodging private fund with a target equity size of US$600 million.
Elsewhere from Rex International being the hot stock of the day, to Rakuten Bank’s shares surging almost 13% – more corporate headlines are in focus.
Also on the table today, chip maker Globalfoundries’ Q1 forecast, and news of Walmart reportedly in talks to buy smart television manufacturer Vizio for over US$2 billion.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

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30 January 2024
Market View: China Evergrande’s liquidation; Mapletree Pan Asia Commercial Trust, CapitaLand India Trust and CapitaLand China Trust’s DPU; Grab captures 55% of SEA food delivery market; Tencent’s Pony Ma on AI, video games; US Fed rate decision; Mega tech earnings; Elon Musk on Neuralink’s first human implant
Singapore shares started on a positive note today, mirroring Wall Street stocks’ overnight advances.
In early trade, the Straits Times Index (STI) rose 0.4 per cent points to 3,253.14 points after 42.9 million shares changed hands in the broader market.
In terms of companies to watch for today, we have Mapletree Pan Asia Commercial Trust. The trust’s distribution per unit (DPU) fell 9.1 per cent to S$0.022 (2.2 Singapore cents) for its third quarter ended Dec 31, 2023.
Meanwhile, from expectations on the Fed’s messaging in its latest policy meeting to more on Elon Musk’s Neuralink, more international headlines are in focus.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

Download this podcast.

16 January 2024
Market View: Tigerair Taiwan’s 10.8 months employee bonus; SIA’s passenger traffic rises; Wilmar International’s stance on corrupt practices; China’s plan for the silver economy; Assets invested into ETFs industry reaches record high; Apple to remove blood oxygen function from watches; OpenAI on fighting US election misinformation
Singapore stocks opened lower today to track overnight losses in European markets.
In early trade, the Straits Times Index (STI) declined 0.4 per cent to 3,186.29 points after 26.8 million securities changed hands in the broader market.
In terms of companies to watch for today, we have Singapore Airlines. The national carrier posted a 15.8 per cent increase in passenger traffic in December 2023 during the year-end peak travel season.
Meanwhile, from how the global ETFs industry fared so far to China’s plan for the massive silver economy, to news surrounding Apple and OpenAI, international headlines are in focus today.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

Download this podcast.

13 December 2023
Market View: ST Engineering acquires D’Crypt from Starhub unit; Japanese government reportedly planning to offer tax incentives to boost mass productions in EV, semiconductor devices; Zara, H&M versus Shein; Netflix releases first global midyear viewer data vs Hollywood worker strikes; US CPI unexpectedly rose in November; FOMC rate, dot plot expectations
Singapore stocks opened on a muted note today after global equities ended mixed overnight.
In early trade, the Straits Times index (STI) was down 0.02 per cent at 3,101.8 points after 54.9 million securities changed hands in the broader market.
In terms of companies to watch for today, we have ST Engineering and StarHub. Both parties said separately today that the defence and engineering group will acquire cryptographic technology company D’Crypt from a StarHub unit.
Elsewhere from more on private sector economists’ forecast for Singapore’s 2024 growth to Japan planning tax breaks for 10 years to boost EV and chip production, and what to expect ahead of the latest US FOMC meeting more economic developments remain in focus.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

Download this podcast.

22 November 2023
Market View: Latest Fed Minutes; Open AI’s Sam Altmen returns as CEO with new board; Singapore’s full year GDP growth expected at around 1 percent; Outlook for China Everbright Water and infrastructure-related firms; Sunac China Holdings secures funding for property unit from government-backed asset manager; Change of leadership in Binance
Singapore stocks struggled to advance today, as pullbacks on Wall Street and Europe clashed with the Singapore trade ministry’s expectations that economic growth would come in at around 1 per cent this year.
In early trade, the Straits Times Index (STI) was down 0.1 per cent to 3,094.37 points, after 33.7 million securities changed hands in the broader market.
In terms of companies to watch for today, we have China Everbright Water. The group, as part of a consortium, is developing a project in China’s Guangdong province to treat agricultural waste and turn it into biogas and organic fertiliser.
Elsewhere, from Sam Altman returning as CEO of OpenAI to more on Chinese developer Sunac getting funding from bad-debt manager Huarong Asset Management, more corporate headlines remain in focus.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

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8 November 2023
Market View: SIA’s S$1.4b net profit for first half and momentum for aviation industry; Singtel’s Optus outage; Seatrium’s 148.9% yoy increase in net order book; Possibility of Ping An taking over Country Garden; Robinhood Markets missed Q3 revenue estimates; WeWork seeks bankruptcy protection
Singapore shares started the day on a softer note, amid major counters’ Q3 updates.
In early trade, the Straits Times Index (STI) headed down 0.6 per cent o to 3,154.34 points after 93.1 million securities changed hands in the broader market.
In terms of companies to watch for today, we have Singapore Airlines. The national carrier posted a net profit of S$1.4 billion for the first six months of its financial year ended Sep 30, up 55.4 per cent from S$926.9 million a year earlier.
Meanwhile from more on the latest earnings out of Singapore to a possible rescue of Country Garden by Ping An Insurance Group, more corporate headlines remain in focus.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

Download this podcast.

26 September 2023
Market View: Nio denies reportable capital raising activity; EU’s probe into Beijing EV subsidies; Indonesia’s rules targeting TikTok Shopping, impact on Sea, GoTo Group; 18 news ETFs to launch in the US; JPMorgan’s Jamie Dimon on US rates hitting 7%
Singapore stocks were little changed today, amid a mixed performance in global markets.
In early trade, the Straits Times Index (STI) dropped 0.01 per cent to 3,215.09 points after  25.7 million securities changed hands in the broader market.
In terms of companies to watch, we do have  Nio, after the Chinese electric vehicle maker said yesterday that it had “no reportable capital raising activity”.
This was in response to media reports that the company is considering raising around US$3 billion in capital from investors.
Elsewhere from TikTok shopping facing headwinds in Indonesia to JPMorgan Chase’s CEO comments of a worse-case scenario of rates hitting 7 per cent in the US, more corporate and international headlines remain in focus.
On Market View, Drive Time’s finance presenter Chua Tian Tian unpacked these developments with  Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

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29 August 2023
Market View: Thomson Medical Group’s 66.7% yoy drop in net profit; Oxley Holdings sank further into the red; China slashing stamp duty on stock trades; BYD’s profits; VinFast’s stellar NASDAQ debut – Could VinFast pave the way for more US IPOs by Vietnam tech unicorns?
Singapore stocks were pulled into positive territory today after global markets finished higher overnight.
In early trade, the Straits Times Index (STI) rose 0.4 per cent to 3,226.29 points after 27.6 million securities changed hands in the broader market.
In terms of companies to watch, we do have Thomson Medical Group after it posted a 66.7 per cent drop in net profit to S$13.8 million for its second half ended June.
Meanwhile, from China slashing stamp duty paid on stock trades for the first time in 15 years, to Vietnamese electric vehicle maker VinFast becoming the third most valuable automaker on earth, more international headlines remain in focus.
On Market View, Drive Time’s finance presenter Chua Tian Tian unpacked these developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

Download this podcast.

15 August 2023
Market View: SGX-listed Chinese property stocks/Reits – Yanlord Land Group, Dasin Retail Group; China to stop releasing youth jobless data; Semiconductor firms Frencken and UMS; Japan’s Q2 GDP - does it mask weakness in the household sector; Tesla lowers prices in the US
Singapore shares edged up this morning, tracking gains in the US and Europe markets.
In early trade, the Straits Times Index (STI) climbed 0.1 per cent to 3,250.52 points after 53.4 million securities changed hands in the broader market.
The semiconductor industry remains in focus after mainboard-listed UMS recorded a 42.4 per cent year-on-year drop in net profit to S$11.6 million for the second quarter ended June.
Meanwhile, China-focused property stocks and Reits listed in Singapore are also at the front and centre of investors’ minds after the country’s central bank unexpectedly cut rates to support its economy.
On Market View, the Drive Time team unpacked these developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

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13 June 2023
Market View: Hatten Land and Quantum Healthcare’s leasing agreement; Securities turnover on SGX up 23% m-o-m in May; Banking sector outlook; US CPI data release; Central bank actions in focus - China cuts short term borrowing costs; Fed, ECB, BoJ rate decisions
Singapore shares opened lower today in contrast to largely positive trading sessions in the global markets.
The Straits Times Index (STI) was down 0.2 per cent to 3,189.22 points in early trade after 65.1 million securities changed hands.
In terms of companies to watch for today, we have Hatten Land and Quantum Healthcare.
The Catalist-listed medical group has signed a tenancy agreement to occupy 138,769 square feet of rental space at Hatten Land’s Imperio Mall@Hatten City in Melaka, Malaysia.
Meanwhile, a series of central bank actions in Europe, Japan are set to take the centre stage this week. Not to mention China’s central bank lowering a short-term lending rate for the first time in 10 months to restore market confidence and prop up a stalling post-pandemic recovery.
On Market View, the Drive Time team unpacked these developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

Download this podcast.

15 March 2023
Market View: Banking stocks on the mend after fallout from SVB’s collapse; Ho Bee Land’s sale of industrial properties; Wing Tai’s profit warning; Meta cutting 10,000 jobs; OpenAI to come up with GPT-4; Possibility of TikTok splitting from ByteDance; US to release chip-sending guardrails; US CPI up 6% you and prospects of a 25bps rate hike in March
Singapore shares began the day on a healthy footing, as banking stocks swung back into the green after yesterday’s declines.
The Straits Times Index gained 1.3 per cent to 3,169.99 points in early trade after 54.4 million securities changed hands.
Some notable names seeing new developments include real estate company Ho Bee Land, which is selling two of its industrial properties to an unrelated third party for S$115 million.
Elsewhere, the global tech sector continues to make the headlines for a number of reasons.
Tech giant Meta is cutting 10,000 jobs in its second round of layoffs, TikTok is discussing the possibility of separating from its Chinese parent company ByteDance, while OpenAi unveiled GPT-4, that can perform well on a range of standardised tests.
On Market View, the Drive Time team unpacked the developments with Toby Gresham , Investment Counselor Team Lead, Citi Private Bank.

Download this podcast.

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