☕️ [Task Coins Giveaway] Daily Market Talk

Midday update: Snowflake exploded 30%+ after-hours on a USD 6 billion AWS deal just as NVDA pledged USD 150 billion in Taiwan and Meta put a price tag on AI — three massive AI bets landing in one session. Back in Singapore, the STI reopened post-holiday with Wilmar down 10.5% on a fresh Indonesia probe, while April factory output surged 17.6% and crushed estimates. Oh, and a US-Iran ceasefire framework just leaked that could reopen Hormuz in 30 days.

💬 Today's 3 Big Questions

1. Snowflake surged 30%+ on a USD 6B AWS procurement deal — with hyperscalers making multi-billion AI data commitments, which cloud or infrastructure plays look best positioned for the next wave?
2. A leaked US-Iran ceasefire framework proposes the Hormuz Strait reopens for commercial shipping within one month. If oil supply fears fade, how do you position: short crude, long airlines, buy chemicals, or something else entirely?
3. PDD's transaction service revenue surpassed its ad revenue for the first time ever in Q1. Is this a lasting structural shift in Chinese e-commerce monetization — and what does it signal for Alibaba and JD?

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⏰ Deadline: May 28, 2026, 11:59 PM (SGT)

📊 Quick Market Recap

🌍 Global Macro & Markets

• A leaked US-Iran ceasefire framework draft proposes that the US lift its maritime blockade and carry out a partial troop withdrawal, while Iran restores Hormuz Strait commercial shipping within one month — crude slipped on the news and shipping risk premiums eased across Asian trade.
• Singapore April factory output surged 17.6% year-on-year (EDB data released Tuesday), beating the 12% Bloomberg consensus. Excluding biomedical, industrial production jumped 21.5% — driven by AI-linked electronics and semiconductor supply chain demand. Economists flagged the Middle East conflict as a continued drag on the chemicals sector.

🇺🇸 US Markets: Three Giant AI Bets in One Session

• 📈 S&P 500 and Nasdaq ended mixed ahead of Thursday's PCE data release; after-hours action dominated by Snowflake's 30%+ moonshot
• Snowflake (SNOW) — signed a USD 6 billion procurement agreement with AWS, signalling that enterprise AI data infrastructure spending has crossed into a new order of magnitude; stock surged over 30% after-hours.
• NVIDIA (NVDA) — committed USD 150 billion in investment in Taiwan for next-generation semiconductor manufacturing, cementing Taiwan's role in the global AI supply chain and boosting local chip suppliers.
• Meta Platforms (META) — launched a paid AI chatbot subscription service, opening a recurring revenue stream beyond advertising; shares rose over 4% intraday.
• PDD Holdings (PDD) — Q1 revenue +11% year-on-year; operating profit +22%; transaction service revenue exceeded ad revenue for the first time, marking a structural inflection in its business model.
• Costco (COST) — Q2 earnings reporting after market close tonight; watch for membership renewal rates and consumer resilience signals.

🇸🇬 Singapore Markets

• 📈 STI closed at 5,028.80, down 41.75 points (-0.82%) — first session back after Hari Raya Haji
• Singapore's April industrial production +17.6% YoY (EDB) beat reflects AI-driven electronics demand flowing through the local manufacturing ecosystem, though the Middle East conflict continues to weigh on chemicals output.
• Wilmar International (F34.SG) — fell 10.5% on reopening after Indonesia confirmed a fresh probe into alleged under-invoicing and transfer pricing by major palm oil exporters including Wilmar. The company had previously relinquished ~USD 729 million in a separate 2024 investigation.
• IHH Healthcare (Q0F.SG) — Q1 net profit RM528 million (+3% YoY), revenue RM6.6 billion (+4%); steady growth from higher acute care volumes and inflationary pricing adjustments.
• Keppel (BN4.SG) — Indonesia's High Court upheld the dismissal of a 2.28 trillion rupiah (S$186.3 million) land claim against a Keppel subsidiary, removing a meaningful legal overhang.
• Koh Brothers Eco Engineering (5HV.SG) — filed a proposal to transfer from Catalist to the SGX Mainboard, citing enhanced long-term shareholder value.

🇭🇰 Hong Kong & China Markets

• Kuaishou (1024.HK) — Q1 revenue +3% YoY; Kling AI revenue surged 300%, annualized ARR approaching USD 500 million — a strong signal that Chinese generative AI is generating real commercial traction.
• Li Auto (2015.HK) and Xpeng (9868.HK) — Q1 earnings reporting tonight; both navigating intense EV price competition with Q1 delivery and margin trends as key watch metrics.

📅 Key Events Tonight / This Week

• 🇺🇸 US April PCE + Core PCE (BofA forecast: 3.3% y/y core) — 08:30 ET (20:30 SGT)
• 🇺🇸 US Q1 GDP 2nd Estimate + Initial Jobless Claims — 08:30 ET (20:30 SGT)
• 🇺🇸 Costco (COST) Q2 Earnings — After market close tonight
• 🇭🇰 Li Auto (2015.HK) Q1 Earnings — Tonight
• 🇭🇰 Xpeng (9868.HK) Q1 Earnings — Tonight
• 🇰🇷 Korea Samsung / SK Hynix Leveraged ETF Launch — Today, May 28
• 🚀 SpaceX IPO — FTSE Russell fast-track large-cap inclusion rules updated; RKLB +5%, ASTS +13%; watch for formal IPO timeline
• 🇺🇸 Chicago PMI (May) — Fri, May 29

Disclaimer: For reference only, not investment advice.