☕️ [Task Coins Giveaway] Daily Market Talk

Midday update: Huawei dropped a chip manufacturing bombshell with its "τ-law" announcement, sending HK semiconductor names surging; Xiaomi reports earnings today; and Singapore's core inflation surprised to the downside at 1.4%, just as MAS warned that AI-driven markets may be masking deeper risks.

💬 Today's 3 Big Questions

SpaceX, OpenAI and Anthropic are all eyeing IPOs, and Nasdaq's new "fast-track" rule means SpaceX could be index-eligible just 15 days after listing. If that happens, passive funds are forced buyers at scale overnight. Which positions would you trim to make room, and is this good or bad for existing Nasdaq 100 names?
Huawei's "τ-law" claims to narrow the chip manufacturing gap with TSMC and Samsung. Genuine technology breakthrough, or a carefully timed PR move ahead of US export control renewals? And does today's SMIC surge make it a buy or a sell-the-news situation?
Singapore's core CPI just printed 1.4% — below March's 1.7% and well below the 1.8% market expectation. Does this give MAS room to ease, and how does it change your view on Singapore rate-sensitive sectors like REITs and banks?

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⏰ Deadline: May 26, 2026, 11:59 PM (SGT)

📊 Quick Market Recap

🌍 Global Macro & Markets

Trump-Iran talks: Trump confirmed negotiations are progressing, ruling out any deal that grants Iran nuclear weapons capability. US officials described themselves as "optimistic" about a near-term resolution. Oil supply outlook in focus.
Samsung internal power struggle escalates: The non-chip division union filed a legal injunction to block a key shareholder vote, deepening the divide between Samsung's semiconductor and consumer electronics arms. South Korea set to launch a leveraged ETF linked to Samsung and SK Hynix on Wednesday, adding a new speculative instrument to the chip theme.
Huawei "τ-law": Huawei publicly unveiled new chip process technology and claimed to be narrowing the manufacturing gap with TSMC and Samsung. China semiconductor stocks surged sharply on the news.
IPO supercycle building: SpaceX, OpenAI, and Anthropic are all in IPO preparation. Nasdaq's new "fast-track" rule allows index inclusion as early as 15 days post-listing — if SpaceX lists, it could trigger one of the largest forced passive rebalancing events in Nasdaq history.

🇺🇸 US Markets: Big Data Week After Memorial Day

📈 US markets reopen after Memorial Day; CB Consumer Confidence due tonight; FOMC minutes Wednesday; April PCE + Q1 GDP 2nd estimate + Jobless Claims all hit Thursday
JOYY Inc. — Q1 net revenue USD 555.7 million, beat estimates; adjusted EPS USD 1.11 per ADS; stock climbed after hours.

🇸🇬 Singapore Markets

📈 STI hit all-time high ~5,093 on Monday May 25, led by DBS, OCBC, UOB; broad-based blue-chip rally continues
Singapore core CPI April: 1.4% (vs 1.7% March, well below 1.8% expected) — surprise easing driven by softer services, retail and goods inflation. Headline CPI held at 1.8%. MAS MD Chia Der Jiun warned at UBS Asia conference (May 25) that AI investments are propping up markets globally but could be masking deeper structural risks — flagged concentration and sustainability concerns.
SATS (S58.SG) — Q4 FY2026 net profit +31% to SGD 50.7 million; revenue +9.8% to SGD 1.6 billion. Aviation ground services and food solutions both contributed to the strong quarter.
Frasers Logistics & Commercial Trust (BUOU.SG) — Acquired 4 freehold European logistics properties (2 in Germany, 2 in Netherlands) for €294.9 million (SGD 441.5 million), at a 1.5% discount to appraised value. Portfolio expansion into core European logistics markets.
Boustead Singapore (F9D.SG) — H2 FY2026 net profit +235% to SGD 197.7 million; revenue +43% to SGD 330.4 million. Exceptional result driven by engineering and real estate divisions.

🇭🇰 Hong Kong & China Markets

📈 HK semiconductor names surged on Huawei τ-law announcement; broader HSI performance tracking US futures recovery
Xiaomi (1810.HK) — Q1 earnings releasing today. Market watching smartphone margins, EV delivery numbers, and whether AI product monetisation is starting to show in the P&L.
SMIC (981.HK) — Surged sharply following Huawei's τ-law disclosure; investors pricing in accelerating demand for domestically produced advanced chips.
Hua Hong Semiconductor (1347.HK) — Rallied in tandem; A-share counterparts reported +20% moves, HK shares tracked the surge.

📅 Key Events Tonight / This Week

🇺🇸 CB Consumer Confidence — Tonight, May 26 (SGT evening)
🇭🇰 Xiaomi Q1 Earnings — May 26 (today)
🇺🇸 FOMC April Meeting Minutes — May 27 (Wednesday)
🇰🇷 Korea Samsung / SK Hynix Leveraged ETF Launch — May 28 (Wednesday)
🇺🇸 April PCE + Q1 GDP 2nd Estimate + Durable Goods + Jobless Claims — May 29 (Thursday), densest US data release of the quarter
🚀 SpaceX IPO progress — ongoing, watch for timeline confirmation

Disclaimer: For reference only, not investment advice.