☕️ [Task Coins Giveaway] Daily Market Talk — OCBC Sell-Off Deepens

OCBC is down about 10% in two days after Citi's sell call, and DBS and UOB are sliding with it. Rates aren't helping: the US 10-year just touched 5.35%. Let's dig in 👇

💬 Buying the bank dip in 10-share lots, or waiting for November results?

📊 Quick Recap — What Moved & Why

🇺🇸 US — Yields Take the Wheel Again

🔑 Key Event: Fed minutes showed all 19 officials backed September's hike, and most see another one as appropriate by year-end. The 10-year touched 5.35% before a strong auction (bid-to-cover 2.77) pulled long yields off the highs.

@TheCollector: Interestingly, long duration yields are not budging.

👀 Other to Watch

• S&P 500 → -0.22% to 7,801.75, snapping a four-day win streak; Nasdaq -0.22%, Dow -0.66%. October hike odds sit under 20%.
• $Micron Tech(MU.US) → +4.1% to $1,088 even as chip stocks fell 1.2%, after DA Davidson lifted its target to $3,000.
• $SpaceX(SPCX.US) → -2.5% as the market weighed its reported US$40B chip financing.
• $Broadcom(AVGO.US) → reportedly seeking over US$50B of financing for the custom chips it builds with OpenAI.
• $Microsoft(MSFT.US) → launched the Surface Laptop Ultra on Nvidia's RTX Spark chip, from US$2,599.

🇸🇬 Singapore — Citi's Sell Call Hits the Banks

🔑 Key Event: Citi cut OCBC to sell with a S$27.50 target, expecting flat Q3 earnings, and the stock fell -5.9% Wednesday. This morning STI is down about -2.5% near 5,466, with OCBC off another -4.4%, UOB -4.8% and DBS -3.2%.

@Vt3: I have invested on our 3 major banks, will DCA slowly if prices softened further.

👀 Other to Watch

• $OCBC Bank(O39.SG) → not every house agrees: RHB still has it as top pick with a S$33.70 target. Q3 results land in the first week of November.
• $JMSEA(C07.SG) → -7.7% Wednesday on a Macquarie downgrade to underperform; it goes ex-dividend today, so part of this morning's drop is the payout.
• $CapitaLandInvest(9CI.SG) → in exclusive due diligence with IOI Properties on a 50/50 bid for One Raffles Place.
• $SIA(C6L.SG) → expanding its Air India tie-up to standalone code-shares across 126 weekly flights to eight Indian cities.
• Revolut → committing S$350M to Singapore over five years, with a new CBD office opening in early 2027.

🇭🇰 HK/China — Mainland Reopens, Tech Still Soft

🔑 Key Event: Hang Seng is down about -0.3% near 24,066 as mainland markets reopen after Golden Week, with Hang Seng Tech off -1.2%. Alibaba is down -1.4% and Tencent -0.6%.

🌍 Other to Watch

• 💾 Samsung posted record Q3 operating profit of about 107.4T won (US$80.1B), more than 8x a year ago but about 1% shy of estimates.
• 🛢️ Brent is back above $101 on a report that the White House asked for Iran strike options before the midterms; a Gulf of Mexico storm shut over 510,000 barrels a day.
• 🪙 Gold sits near $4,110, close to a nine-week low, as the Fed minutes kept hike bets alive.

@Shyon: I would not chase aggressively here. I would rather wait for a pullback or scale in gradually.

📅 Upcoming Key Events

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🚫 No duplicates · ⏰ Deadline: Oct 8, 2026, 11:59 PM SGT

Not investment advice, just market talk 🙏