US stocks were lower after the close on Tuesday, as losses in the energy, financials and consumer discretionary sectors led shares lower.

At the close of the NYSE, the DJIA fell 0.75% while the S&P 500 index was down 0.68%, and the NASDAQ Composite index slid 0.92%. Falling stocks outnumbered advancing ones on the NYSE by 2,440 to 877 and 123 ended unchanged;

on the Nasdaq Stock Exchange, 3,197 declined and 1,007 advanced, while 146 ended unchanged. (Source: WSJ, CNBC) During the last trading session, the FSSTI index slid 17.55pt to 3,192.17.

Among the top active stocks were Jiutian Chemical (-1.0%), Sembcorp Marine (-4.7%), SPH (- 5.3%), SingPost (-3.1%) and Singapore Airlines (-2.9%).

The FTSE ST Mid Cap Index declined 0.4% while the FTSE ST Small Cap Index fell 0.3%. The broader market saw 184 gainers and 280 losers with total trading value of S$1.37b. WHAT’S IN THE PACK Singapore Company Update: Yangzijiang Shipbuilding (Holdings) – Announces contract wins for 15 vessels valued at US$1b; on track to surpass 2007 high in new order wins. Raising target price to S$1.76. (YZJSGD SP/BUY/S$1.36/Target: S$1.76) With the ink barely dry on the US$1.7b worth of order wins in Mar 21, YZJ announced another slate of orders for 15 vessels totaling US$0.97b. More than half of these are containerships which is positive given that such vessels attract higher shipbuilding margins. As a result of the order wins, we have increased our EPS estimates for 2021-23 as well as raised our order-win expectation for 2021 to US$5.5b. Maintain BUY with a higher target price of S$1.76…

HK/ China Company Update: Guangzhou Tinci Materials Technology – 1Q21: Strong results in line; earnings to accelerate in 2021. (002709 CH/BUY/Rmb97.02/Target: Rmb125.00) Tinci’s 1Q21 revenue was up 198% with net profit rebounding to Rmb287m (+591%yoy,1879%qoq), driven by the electrolyte products’ ASP hike and sales volume increase. We expect the strong electrolyte market to persist throughout 2021 given the supply tightness. Tinci, which issued a positive 1H21 profit alert,

will see earnings growth accelerate on the electrolyte price hike and production expansion in 2021. Maintain BUY and raise the target price to Rmb125.00…

HK/ China Sector Update: New Oriental Education & Technology Group – 3QFY21: Recovery remains intact. Focus on OMO initiatives moving forward; regulatory impact expected to be limited. (EDU US/BUY/US$15.18/Target: US$21.00) EDU reported a strong set of results in 3QFY21. Revenue grew by 29% yoy to US$1,190.5m, meeting our forecast and consensus expectations. Operating margin declined by 4.9ppt yoy to 9.7% as a result of a surge in marketing expenses in pursuing OMO initiatives…

Singapore Technical Analysis: Mapletree North Asia Commercial Trust (MAGIC SP) – Trading BUY Price has been moving higher along with the rising base line which is acting as support at the moment. The bullish trend remains intact as it is still trading above the cloud…

Hongkong Land Holdings (HKL SP) – Trading BUY Price has been trading above the cloud, keeping the bullish trend intact. There is still a bullish conversion and base line crossover that hint at potential upside ahead…

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