𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *24/2/26*

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STI: 5041 (+23) | HSI: 27081 (+668) | Dow: 48804 (-821) | S&P: 6837 (-71) | Nasdaq: 22627 (-258)

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*US Markets Overnight!*

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*Punched by Uncertainty*

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Risk came back with a vengeance Monday.

After the Supreme Court knocked down most of President Trump’s earlier reciprocal tariffs, the White House didn’t exactly fold. Instead, we got a fresh 10% global tariff hike, quickly bumped to 15%. Different legal route, same trade tension. Markets heard one word, *uncertainty*.

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The tape reflected it.

The Dow Jones Industrial Average dropped 1.7%, more than 820 points. The Nasdaq Composite fell 1.1%, and the S&P 500 slid 1%. Not a crash, but a clear risk reset after last week’s rebound.

..

Europe added to the mood. Reports suggest the EU may freeze ratification of its US trade deal. Cross border capital does not love policy improvisation.

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Big Tech was mostly red, but selective.

*NVIDIA* and *Apple* managed small gains, up 1% and 0.6%, respectively, ahead of Nvidia’s earnings midweek. The rest of the Magnificent Seven were lower. AI anxiety hit hard elsewhere. *IBM* cratered 13% on concerns around competitive pressure from *Anthropic’s* AI advances.

Cloud and software names got clipped, *Datadog* down 11%, *CrowdStrike* off 10%, and *AppLovin* lower by 9%. When AI leadership wobbles, beta gets repriced fast.

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Over at Healthcare, *Novo Nordisk* plunged 16% after its CagriSema obesity data underwhelmed versus *Eli Lilly* and Company’s Zepbound. Lilly gained nearly 5%. In the obesity arms race, efficacy is market share.

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On the consumer and media side, *Netflix* fell more than 3% amid political noise over its board composition, while it pursues assets from *Warner Bros. Discovery*.

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Meanwhile, *Domino’s Pizza* rose 4% on solid revenue and same store sales. *Dominion Energy* slipped 2.6% post earnings. Travel names got hit by something less macro and more meteorological. A Northeast blizzard grounded flights, sending *Delta Air Lines, United Airlines, and American Airlines* down 4 to 5%.

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Markets are repricing policy unpredictability. Tariffs are back in the spotlight, duration is catching a bid, and stock selection is doing the heavy lifting. Volatility is not screaming panic, but it is reminding everyone who is in charge.

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*Stockwatch today!*

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The first of the three banks to release earnings, UOB posted a 23% drop in FY25 net profit to $4.7Bn due to pre-emptive provisions (in 3Q). Good to note that FY25 operating profit is still decent at S$7.7Bn on strong fee growth across wholesale and retail banking, with asset quality stable and a final dividend of S$0.71

.

Personally I feel that stripping out the provisioning noise, this still qualify as a resilient set of numbers. Core operating momentum is intact, fee income hitting a record S$2.6 billion tells you the franchise is broadening beyond pure rate sensitivity, and wealth plus loan fees are doing the heavy lifting. Yes, net interest income softened, that is the reality of lower benchmark rates, but loan growth at 4% is respectable in this environment. More importantly, asset quality is steady at 1.5% NPL and credit costs have already normalised after the proactive buffer build. That looks prudent, not defensive.

That said, market movements usually don’t necessarily follow analysis but in sentiments and headlines. We shall see how it pans out.

https://links.sgx.com/FileOpen/FY2025%20CEO%20Presentation%20slides.ashx?App=Announcement&FileID=875683

https://links.sgx.com/1.0.0/corporate-announcements/RC8CRBWIO9SESC3V/875684_FY2025%20CFO%20Presentation%20slides.pdf

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*Genting Singapore* had quite a good run recently, now punching above $0.80. Tonight will release results. For those vested, may want to keep a look out for it. *SIA* would be the other big cap that is slated to release tonight, fyi.

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Note that both *Beng Kuang* and *CapLand India* both requested for trading halt. Beng Kuang yesterday surged on closing auction.

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===

*Good Read*

.

Just thought this is a good read on the SG market in general.

*SGX must find ‘sweet spot’ in culling underperforming firms as regional peers tighten curbs: market experts*

https://www.businesstimes.com.sg/companies-markets/sgx-must-find-sweet-spot-culling-underperforming-firms-regional-peers-tighten-curbs-market-experts

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===

*SGX Research Vault*

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*REIT Watch - Data Centre S-REITs Stay Resilient on AI tailwinds*

https://www.sgx.com/research-education/market-updates/20260223-reit-watch-data-centre-s-reits-stay-resilient-ai

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===

*Happening Today*

SG XD:

— Lendlease Reit: SGD 0.005195

— Sabana Reit: SGD 0.0183

— Sheffield Green: SGD 0.002

SG Earnings:

— UOB^, GE^. Genting Sing, SIA, Ho Bee, Global Investments. delfi, OKP

CN:

— China Loan Prime Rate 5Y (Feb) / PBoC Loan Prime Rate / FDI (Jan)

US:

— ADP Employment Change Weekly / S&P/CS HPI Composite - 20 n.s.a. (YoY) (Dec) / FOMC Member Bostic Speaks (10pm SGT) / CB Consumer Confidence (Feb)

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===

*SG Stock news*

Earnings:

—⭐ *Soon Hock Enterprise* FY2025 earnings up 10.6 times

https://links.sgx.com/1.0.0/corporate-announcements/T6P1AEWRKZSIHREF/875655_Soon%20Hock%20-%20Press%20Release.pdf

—⭐ *Apac Realty's* FY2025 earnings up 184.9%

https://links.sgx.com/1.0.0/corporate-announcements/2LB3Q9ZDKL861Z31/875636_230226_APAC%20Realty%20FY2025%20NR_Final.pdf

—👍 *Centurion Accommodation REIT* reports DPU of 1.739 cents, outperforming forecast by 6.7%

https://links.sgx.com/1.0.0/corporate-announcements/9ONU0XOG3Q1FFKNF/875661_CAREIT%20-%20FY2025%20Results-Presentation%20Slides.pdf

—👍*Great Eastern* delivered a record S$1.21 billion FY2025 profit, up 21% on stronger investment returns and underlying fundamentals, with New Business Embedded Value rising 19% despite a 15% dip in new sales due to a strategic shift in product mix, and proposed a 22% higher full year dividend.

https://links.sgx.com/FileOpen/20260224%20GEH%20Financial%20Summary.ashx?App=Announcement&FileID=875677

— *SingFinance* 2HFY2025 net profit up 2% despite provisions

https://www.theedgesingapore.com/capital/results/singfinance-2hfy2025-net-profit-2-despite-provisions

— *MoneyMax's* 2HFY2025 earnings nearly double to $42 mil

https://links.sgx.com/1.0.0/corporate-announcements/BNY557IZA9WGNRZ0/875644_MoneyMax_FY2025_Corporate%20Deck.pdf

— *ValueMax* 2HFY2025 earnings up 14% y-o-y, full year earnings cross $100 mil

https://links.sgx.com/1.0.0/corporate-announcements/3HUDPSY7C5751I15/875650_FY2025%20Results%20Press%20Release.pdf

Profit guidance:

— *Clearbridge Health* is expected to report a significantly higher net loss for FY2025, mainly attributable to: (i) the additional impairment of goodwill recognised for FY2025. (ii) the fair value loss of the convertible exchangeable bonds recognised for FY2025

— *Southern Archipelago* is expected to report net losses for FY2025. The expected losses for FY2025 primarily rose from the loss incurred in connection with the members’ voluntary liquidation of a dormant subsidiary of the Group, Trackplus Sdn. Bhd.

— * Kim Heng* is expected that the Group will be in net loss position for FY2025 when compared to that for the financial year ended 31 December 2024, mainly due to late delivery penalties and cost overruns on a new shipbuilding vessel, lower-than-anticipated revenue from the newly established geotechnical survey segment, reduced charter margins as well as loss on disposal of cranes.

— *Plato Capital* is expected to report a significant net loss for FY2025, as compared to a net profit for the financial year ended 31 December 2024, mainly attributable to an impairment loss on property, plant and equipment arising from an impairment assessment of the recoverable amount of the property, plant and equipment based on fair value less costs of disposal, as determined with reference to an independent professional valuation report commissioned by the Company.

— *Koyo International* expects to report a significant increase in net profit for FY2025 compared to a marginal net profit recorded for FY2024. The increase in net profit was mainly due to contributions from the mechanical engineering business segment

Others:

—⭐ *Boustead* likely to pay special dividend following IPO of UI Boustead REIT

https://www.theedgesingapore.com/news/ipo/boustead-likely-pay-special-dividend-following-ipo-ui-boustead-reit

— *Keppel* announced that the South Jakarta District Court declared Tumpal Hutabarat’s civil lawsuit against its wholly owned subsidiary PT Kepland Investama inadmissible and ordered the claimant to pay court costs.

—👍 *Reclaims Global* Secures New Contracts with an Aggregate Value of S$3.08 Million

— 👍*Nam Cheong* clinches US$64.5 million shipbuilding contracts for four OSVs an established UAE based global energy maritime logistics company

— 👎*Acrophyte Hospitality Trust* announced that its ongoing strategic review and discussions with its sponsor on a potential transaction remain in progress, with no certainty of any deal materialising, and advised stapled securityholders to exercise caution when trading.

.

===

*Earnings Calendar*

24/2 - UOB^, GE^. Genting Sing, SIA, Ho Bee, Global Investments. delfi, OKP

25/2 - OCBC^, Sembcorp^, HL Asia, SingLand, Lippo Malls SERT^, Nanofilm, HL Fin

26/2 - sasseur^, Seatrium^, Manulife US REIT^, ACRO HT, LHT, Wilmar, Aztech Global, UOL, IREIT Global, Venture, Ultragreen, Thakral, AVEpoint, CSE Global, CNMC, APTT, Centurion, Golden Agri, AP Oil

27/2 - CDL^, Olam^, ST Engg^, Daiwa^, SATS, ComfortDelgro, Hotel Royal, IFS, Mewah, A-Sonic, MDR, Haw Par, EC World, BHG Retail, Straco, China Sunsine, Frencken

^ denotes before market opens

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Sources:

www.sgx.com

www.investing.com

www.theedgesingapore.com

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Start your investment journey here:

https://tinyurl.com/gotopoems

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Cheers!

Dan

Disclaimer: https://tinyurl.com/dan-disclaimer

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#dailyupdate #tradeSGX #poems #danccs

$CityDev(C09.SI)is consolidating after the strong rally, with prices testing the 10.00 psychological level.

All 20d, 100d and 200d moving averages continue to slope up, keeping the broader uptrend intact, with 6 consecutive 1GT Bullish signals remaining in play.

If the price can break and close firmly above 10.00, the next upside target could be drawn toward 11.00.

With prices testing the 10.00 resistance level today, could a clean push through spark the next leg higher toward 11.00?

The long-term uptrend remains intact. Prices are holding above key support, and momentum has been steady.

‌

Now the big question: What happens if $10.00 finally gives way?

‌

I’ve broken down the levels, the structure, and how structured warrants can be used to participate with lower capital outlay.

‌

👉 Read the full analysis here:
https://joeychoy.beehiiv.com/p/city-develo...

Ever wondered why markets swing right after GDP, inflation, or jobs numbers are released?

These economic indicators are the market’s vital signs and they quietly shape which sectors win and which struggle.

In this week’s post, we break down how GDP, unemployment, and inflation really impact stock prices, and what investors should watch.

👉 Read it here:
https://joeychoy.beehiiv.com/p/impact-of-e...

@sgsiasorg Calling all NetLink NBN Trust unitholders!

Join us for an exclusive briefing hosted by SIAS with NetLink’s management team. Gain key insights into FY25 highlights and discover what’s ahead for FY26. Don’t miss this opportunity to get your questions answered and stay informed.

Date: 9 July, Wednesday

Time: 12.00pm - 1.00pm SGT
Location: SIAS Training Room

Register now: https://bit.ly/3HK3V2r

#NetLinkNBNTrust #SIAS #InvestorBriefing

@sgsiasorg Calling all NetLink NBN Trust unitholders!

Join us for an exclusive briefing hosted by SIAS with NetLink’s management team. Gain key insights into FY25 highlights and discover what’s ahead for FY26. Don’t miss this opportunity to get your questions answered and stay informed.

Date: 9 July, Wednesday

Time: 12.00pm - 1.00pm SGT
Location: SIAS Training Room

Register now: https://bit.ly/3HK3V2r

#NetLinkNBNTrust #SIAS #InvestorBriefing

Struggling with investing? You’re not alone!

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https://www.youtube.com/watch?v=7FB8bFAQa4c
$Singtel(Z74.SI) $SGX(S68.SI) $DBS(D05.SI) $UOB(U11.SI) $OCBC Bank(O39.SI)

https://youtu.be/q3kek5JLGZg
$DBS(D05.SI) $UOB(U11.SI) $OCBC Bank(O39.SI) $SIA(C6L.SI) $Singtel(Z74.SI)

https://www.youtube.com/watch?v=J2fQ-0Ez0ys
$DBS(D05.SI) $UOB(U11.SI) $Singtel(Z74.SI)

$Keppel DC Reit(AJBU.SI)

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As of February 22, 2026, Keppel DC REIT (SGX: AJBU) is demonstrating robust growth driven by strategic acquisitions and strong organic performance within the data centre sector.

‌

Technical Analysis (TA)
The technical outlook for Keppel DC REIT is currently positive, with the stock showing signs of recovery and momentum.

• Current Price Action: As of February 20, 2026, the unit price closed at $2.27, showing a slight daily increase of 0.44%.


• Trend Analysis: The stock has been on a recovery path since a preferential offering in late 2025, which initially caused some dilution but was well-received, being 168.2% subscribed.

Support & Resistance:
Resistance: Immediate resistance is seen at $2.28 - $2.30. A sustained break above this could see the price testing the consensus analyst target of $2.53.

• Support: Strong support exists at the recent low-point near the $2.24 preferential offering price.


• Momentum Indicators: Analysts have recently upgraded the REIT to "Accumulate" or "Buy" due to its record-high DPU and strong rental reversions.

Target Prices:

• Consensus Target: $2.53.


• UOB Kay Hian: $2.82.


• OCBC Research: $2.78

‌

REIT Overview & Fundamental Highlights
Keppel DC REIT is Asia’s first pure-play data centre REIT, managing a portfolio valued at approximately $6.3 billion across 25 properties in 10 countries.
Record Performance: FY2025 Distribution per Unit (DPU) reached a record high of 10.381 cents, a 9.8% year-on-year increase.

• Rental Reversions: Achieved an exceptional overall portfolio rental reversion of ~45% for FY2025.


• Occupancy & WALE: Portfolio occupancy remains healthy and stable at 95.8%, with a long Weighted Average Lease Expiry (WALE) of 6.7 years.

Balance Sheet:

• Aggregate Leverage: Increased to 35.3% following the acquisition of Tokyo Data Centre 3.


• Cost of Debt: Managed efficiently at 2.8% (4Q25), with expectations to decline toward 2.7% in 2026.


• Key Growth Drivers: Acquisitions of Keppel DC Singapore 7 and 8 and Tokyo Data Centre 1 and 3 were major contributors to the recent DPU jump.

‌

Kenny Loh is a distinguished MAS Private Wealth Advisor with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.
👉 https://kennyloh.net

$Sabana Reit(M1GU.SI)

‌

The chart depicts a classic bullish trend reversal followed by a strong momentum phase.

1. Trend and Moving Averages

• Golden Cross: In late 2024, the 50-day moving average (blue) crossed above the 200-day moving average (green), signaling a long-term trend shift from bearish to bullish.


• Price Action: The price is currently trading at $0.490, well above its 200-day MA ($0.438) and slightly above its 20-day ($0.484) and 50-day ($0.480) MAs. This indicates that both short-term and long-term momentum are firmly in favor of the bulls.


• Higher Highs: Since the bottom in mid-2024 (approx. $0.320$), the REIT has consistently formed higher highs and higher lows, a textbook definition of an uptrend.

2. Support and Resistance

• Immediate Resistance: The psychological and technical resistance sits at $0.500. A breakout above this level could trigger a new leg of expansion.
  Immediate Support: Found at the $0.480 level (confluence of the 20-day and 50-day MAs).


• Strong Support: The $0.440 - $0.450 zone, which acted as previous resistance in late 2025, now serves as a major "floor."

3. Volume and Volatility

• The recent price consolidation near the highs (Dec 2025 - Feb 2026) shows lower volatility compared to the initial rally, suggesting the market is "digesting" gains before the next move.

REIT Overview: Alpha Integrated REIT
Alpha Integrated REIT (formerly known as Sabana Industrial REIT) is a Singapore-listed industrial REIT. It has recently undergone a historic transformation, becoming the first REIT in Singapore to adopt an internal management model.

Portfolio & Performance (as of Feb 2026)

• Assets: Diversified portfolio of 18 industrial properties (High-Tech, Logistics, Chemical Warehouse, and General Industrial). Its "crown jewel" is New Tech Park at Lorong Chuan.


• Internalisation: The shift to an internal manager (completed in late 2025) has eliminated external management fees, directly boosting the Distribution per Unit (DPU).

Financial Health:

• DPU Growth: FY2025 DPU jumped 23.4% year-on-year to 3.53 cents.
  Yield: At $0.490, it offers a trailing yield of approximately 7.2%.
  Gearing: Healthy at 35.8%, well below the regulatory limit, providing headroom for future acquisitions.


• Occupancy: Improved significantly to 90.3% by the end of 2025.


• Key Event: There is currently an ongoing mandatory conditional cash offer by Mindarie Investment Pte. Ltd. at $0.490 per unit, which has recently turned unconditional. This is likely why the price is currently "pegged" near the $0.490 mark.

Kenny Loh is a distinguished MAS Private Wealth Advisor with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.
👉 https://kennyloh.net

Pleased to joint author with Cecilia HL TAN to provide new insights for S-REIT investors. By combining my experience engaging with retail investors with Cecilia’s perspective as a former REIT CEO, we’ve identified a critical shift the market needs.
‌
We believe it’s time to look past the optics and focus on the Management Efficiency Index (MEI).
‌
In our latest article, we break down:
🟢The Transparency Gap: Why core rental cashflows are often hidden in statutory statements.
‌
🟢The 100% Payout Risk: Why distributing every cent of operational cashflow may be a red flag for long-term resilience.
‌
🟢Fees vs. Responsibility: Moving from an "entitlement" mindset to true value creation.
‌
Don't go into the upcoming #AGM season without knowing the real "North Star" for REIT management efficiency.
‌
Read the full analysis and see the MEI rankings below: 👇
https://reitsavvy.com/insights/what-the-me...
‌
#SingaporeREITs #ManagementFee #DPU #Sustainability

$FSTAS351020(FSTAS351020.IN)‌ ‌ $LION-PHILLIP S-REIT(CLR.SI)‌ ‌ $CSOP iEdge SREIT ETF US$(SRU.SI)‌ ‌ $CSOP iEdge SREIT ETF S$(SRT.SI)‌ ‌ $UOB AP GRN REIT S$(GRN.SI)‌ ‌ $UOB AP GRN REIT US$(GRE.SI)‌ ‌ $BHG Retail Reit(BMGU.SI)‌ ‌ $CapLand IntCom T(C38U.SI)‌ ‌ $CapLand China T(AU8U.SI)‌ ‌ $Fortune Reit HKD(F25U.SI)‌ ‌ $Frasers Cpt Tr(J69U.SI)‌ ‌ $Lippo Malls Tr(D5IU.SI)‌ ‌ $Mapletree PanAsia Com Tr(N2IU.SI)‌ ‌ $StarhillGbl Reit(P40U.SI)‌ ‌ $IREIT Global(UD1U.SI)‌ ‌$Keppel Reit(K71U.SI)‌ ‌ $ManulifeReit USD(BTOU.SI)‌ ‌ $OUEREIT(TS0U.SI)‌ ‌ $Suntec Reit(T82U.SI)‌ ‌ $AIMSAMP Cap Reit(O5RU.SI)‌ ‌ $CapitaLand Ascendas REIT(A17U.SI)‌ ‌ $EC World Reit(BWCU.SI)‌ ‌ $ESR-REIT(J91U.SI)‌ ‌ $Frasers L&C Tr(BUOU.SI)‌ ‌ $Frasers L&I Tr AUD(BWQU.SI)‌ ‌ $Keppel DC Reit(AJBU.SI)‌ ‌ $Mapletree Ind Tr(ME8U.SI)‌ ‌ $Mapletree Log Tr(M44U.SI)‌ ‌ $Sabana Reit(M1GU.SI)‌ ‌ $Far East HTrust(Q5T.SI)‌ ‌ $CDL HTrust(J85.SI)‌ ‌ $CapLand Ascott T(HMN.SI)‌ ‌ $Frasers HTrust(ACV.SI)‌ ‌ $First Reit(AW9U.SI)‌ ‌ $ParkwayLife Reit(C2PU.SI)‌ ‌ $Dasin Retail Tr(CEDU.SI)‌ ‌ $NikkoAM-STC Asia REIT(CFA.SI)‌ ‌ $Sasseur Reit(CRPU.SI)‌ ‌ $Nikko AM STI ETF(G3B.SI)‌ ‌ $STI ETF(ES3.SI)‌ ‌$CapLand India T(CY6U.SI)‌ ‌ ‌$Acro HTrust USD(XZL.SI)‌ ‌ $Keppel Reit(K71U.SI)‌ ‌ $Prime US ReitUSD(OXMU.SI)‌ ‌ $Lendlease Reit(JYEU.SI)‌ ‌ $NikkoAM-STC Asia REIT(CFA.SI)‌ ‌ $ELITE UK REIT(MXNU.SI)‌ ‌ $UtdHampshReitUSD(ODBU.SI)‌ ‌ $STONEWEG EUROPEAN REIT(CWBU.SI)‌ $Cromwell Reit SGD(CWCU.SI)‌ ‌ $CapitaLandInvest(9CI.SI)‌ ‌ $Daiwa Hse Log Tr(DHLU.SI)‌ ‌ $DigiCore Reit USD(DCRU.SI)‌ ‌ $PARAGON REIT(SK6U.SI) $Stoneweg EUTrust EUR(SET.SI) $Stoneweg EUTrust SGD(SEB.SI) $ESR REIT(9A4U.SI) $Cent Accom REIT(8C8U.SI) $NTT DC REIT USD(NTDU.SI)

$Wilmar Intl(F34.SI) is moving from extreme negativity to recovery.

When a company’s share price has been falling for years and then a major negative event hits, yet the stock stops declining and begins to stabilise or rise, it often suggests that the worst has been priced in. This is typically the point where fear peaks, sellers are exhausted, and value begins to return.

Wilmar could be at such a turning point.

The stock fell to a multi-year low of S$2.78 on 22 Sep 2025 after regulatory concerns in Indonesia escalated. The court ruling in the cooking oil case raised the risk of losing a US$729 million deposit, potentially impacting FY25 earnings significantly. Together with weaker refining margins, dividend cuts and broker downgrades, sentiment turned extremely negative and valuation de-rated sharply.

However, excluding the one-off penalty, 3Q25 showed a strong operational rebound. Core net profit rose about 72% year-on-year and 48% quarter-on-quarter, supported by better sales and improving margins. Demand in China remained resilient, soybean crushing margins recovered, and tropical oils margins stabilised.

Financially, Wilmar remains sound. Net gearing improved to around 0.37 times even after the penalty payment, and operating cash flow strengthened. The group holds approximately US$3 billion in cash and guided for steady momentum into 4Q25. Market focus may gradually shift back to earnings normalisation and potential recovery into FY26.

Wilmar will announce its full year results on 26 Feb after market close.

Technical View:

On the weekly chart, Wilmar appears to have formed an inverted head and shoulders pattern, with S$2.78 as the head and around S$3.00 as strong support. The breakout above S$3.37 this month is significant and price has held above it, suggesting that the previous downtrend may have ended and a new uptrend could be emerging.

Based on pattern projection, the next potential upside targets are S$4.21, followed by S$4.88 and S$5.64, subject to sustained momentum.

My Trade Action:

I added a position in my active portfolio at S$3.56 last week and will continue to ride the uptrend as long as the technical structure remains intact.

For reference only. Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

📌If you find this analysis useful, I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).

👉 To join, simply message ‘Weekly Ideas - InvestSG’ on WhatsApp: https://wa.me/6590908871

While the broader Hong Kong market has been under pressure, CATL (3750.HK) and the SGX listed HK SDR $CATL HK SDR 30to1(HCCD.SI)has been showing clear relative strength, supported by both near-term catalysts and long-term structural tailwinds.

📌 Key Catalyst: Hang Seng Index Inclusion

CATL will be added to the Hang Seng Index, effective 9 March 2026.

This is significant because index inclusion often drives structural inflows:

🔹Passive funds and ETFs must buy the stock

🔹Institutions typically position ahead of the effective date

🔹Liquidity and market visibility improve meaningfully

🌍 Global EV Battery Leader

CATL is widely regarded as the world’s leading EV battery manufacturer, supplying major carmakers across China, Europe, and beyond.

The EV battery industry is highly consolidated, and CATL remains firmly at the top of the global supply chain.

🔋 EV Battery Demand Still Growing

According to the Electric Vehicle Battery Technology Market Research Report 2026–2031, released on 17 February 2026, the global EV battery market is expected to expand from US$98.7B (2025) to US$156.9B by 2031, driven by:

🔹Rapid EV adoption + government mandates

🔹Gigafactory expansion worldwide

🔹Battery innovation (sodium-ion, solid-state, multi-chemistry)

🎯Analyst Target Price:

CATL’s average/mean target price is around HKD 600–616, based on multiple financial data providers, significantly above last done price at HKD 531.50.

Source: Investing.com

📈 My Technical View:

Technically, CATL peaked near HKD 614 and has been in a downtrend since 3 Oct. The stock found strong support twice at HKD 458.60, forming a clear double bottom.

My General X Momentum Trend-Following Indicator triggered a Buy Signal on 5 Feb, and price has since broken the downtrend, held firmly above the HKD 523 neckline, and confirmed improving momentum.

🎯 Next targets: HKD 567, then a retest of HKD 614.

🌟My Trade Action:

I plan to go in and buy the $CATL HK SDR 30to1(HCCD.SI)at SGD 2.86-2.88 when the Hong Kong market reopens on Friday after the long CNY holiday.

💡Why invest via SDRs instead of the underlying shares?

Singapore Depository Receipt (SDRs) allow investors to trade overseas companies on SGX in SGD, without opening foreign trading accounts. Benefits include lower FX hassle, familiar trading hours, CDP settlement, and the convenience of managing global exposure within one local portfolio.

For reference only. Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

If you find this analysis useful, I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).

👉 To join, simply message ‘Weekly Ideas - InvestSG’ on WhatsApp: https://wa.me/6590908871

The Straits Times Index has crossed the 5,000-point milestone for the first time — a major psychological breakthrough.

In my interview yesterday with Lianhe Zaobao 《联合早报》, I shared that this move reflects a broader shift in global asset allocation. Investors are gradually rotating from US dollar assets into Asian equities, while a stronger Singapore dollar has further boosted the appeal of Singapore markets.

The rally has also been led by index heavyweights, especially the three local banks. With banking stocks making up roughly half of the STI’s weight, their strength has played a decisive role.

Looking ahead, the uptrend may still have room to extend. Valuations remain relatively undemanding, supported by earnings growth, while markets increasingly expect inflation to have peaked and interest rates to be past their highs.

Singapore’s initiatives such as the EQDP (S$5 billion) and the proposed dual-listing channel could further strengthen SGX’s competitiveness and participation.

Importantly, this rise appears to be a multi-day accumulation trend, supported by sector rotation rather than a one-off spike.

Asian markets have also outperformed recently, as US tech and software stocks pulled back amid AI disruption concerns, prompting capital rotation back toward more traditional sectors and Asia.

💡My take for the local market:
Even after the index breakout, investors can still look for value in laggard counters that have yet to fully catch up. Names worth keeping on the watchlist include:
🔹Sembcorp Industries $Sembcorp Ind(U96.SI)
🔹Ho Bee Land $Ho Bee Land(H13.SI)
🔹Seatrium $Seatrium Ltd(5E2.SI)
🔹Wilmar $Wilmar Intl(F34.SI)
🔹Olam Group $Olam Group(VC2.SI)
🔹Local Tech: UMS $UMS(558.SI), AEM $AEM SGD(AWX.SI) , Frencken $Frencken(E28.SI)

Singapore equities are quietly regaining attention, and this breakout may be more than just a headline number.

Read the full Zaobao article here: https://www.zaobao.com.sg/finance/singapor...

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