𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *9/2/26*

.

STI: 4934 (-41) | HSI: 26559 (-325) | Dow: 50155 (+1205) | S&P: 6932 (+133) | Nasdaq: 23031 (+490)

.

*US Markets Overnight!*

.

*One Day Wonder or Trend Changer?*

.

Wall Street shook off the jitters and bounced hard on Friday. The Dow jumped 2.5%, punched through 50,000 for the first time, and set a fresh high, while the S&P 500 and Nasdaq rose 2% and 2.2%. Big headline move, but zoom out and the tape is still choppy, the Dow only just snapped a three week skid, the S&P has fallen in three of four weeks, and the Nasdaq is still stuck in a four week slide.

.

Stock picking mattered. *Nvidia* led the charge with an almost 8 percent surge, reminding everyone who still runs the AI party. *Caterpillar* followed close behind, up 7%. On the flip side, *Amazon* sank over 5% after a soft earnings reaction, while *Stellantis* fell off a cliff, down 25%, after announcing a costly business reset.

.

Earnings volatility was loud elsewhere too. *Roblox* popped nearly 10%, while *Molina Healthcare* and *Coty* were punished, down 26% and 16%. *Qualcomm* steadied after Thursday’s selloff, clawing back about 1%.

.

Crypto was a roller coaster. Bitcoin dipped to its lowest since October before rebounding above 70,000 by the close. *Strategy* ripped 25%, and crypto linked names like *Coinbase*, *Robinhood*, and *MARA* bounced sharply alongside it.

Macro signals stayed mixed. The 10 year yield crept up to 4.21 percent, oil nudged higher, the dollar eased slightly, and gold caught a bid again. In short, relief rally yes, all clear no. The market’s mood improved, but conviction still feels fragile.

.

*What’s brewing this week*

.

Next week is all about a tight cluster of macro data and heavyweight earnings, which should keep markets busy. The big focus is the delayed *U.S. jobs report* on Wednesday and *January CPI* on Friday, both crucial for shaping near term Fed expectations, especially with policymakers signaling they want clearer inflation progress before cutting rates again. *Retail sales* on Tuesday will help confirm whether consumer momentum held up through the holidays. On the earnings side, *Cisco* is a standout, with investors listening closely for signals on AI infrastructure demand, while results from *Applied Materials* and *Arista Networks* add more color on the tech capex cycle. Consumer bellwethers like *Coca Cola*, *McDonald’s* and *Shopify* offer a read on spending behavior, autos from *Ford*, *Honda* and *Ferrari* gauge demand durability, and reports from *Airbnb* and *Marriott* speak to travel trends. Rounding things out, updates from major pharma names and crypto exposed platforms like *Coinbase* and *Robinhood* could move their corners of the market, but the real tone setter will be jobs, inflation and how the consumer is holding up.

.

Outside of the US, the market calendar is light but still has a few highlights worth keeping an eye on. Monday kicks off with Japan’s Current Account data for December and *Singapore’s foreign reserves* for January - numbers to watch if you’re curious about FX and liquidity flows. Tuesday turns the spotlight to *Singapore’s Q4 GDP*, expected to show a solid 5.7% year-on-year growth, a key read for local economic momentum. Wednesday, Japan takes a holiday for National Founding Day, while *China rolls out its January CPI and PPI* - moderate inflation figures could hint at Beijing’s next moves on growth or stimulus. The week wraps up Friday with *Eurozone GDP and trade balance updates*; Q4 GDP is forecast at 1.3% year-on-year, offering insight into Europe’s growth resilience heading into 2026. All in all, a week of data nuggets rather than market-moving shocks, but perfect for keeping your finger on the macro pulse.

.

*Stock Watch Today*

.

The earnings release everyone has been waiting for. *DBS* delivered mixed results, with 4Q earnings down 10% and FY2025 profit slipping 3%, but this was offset by solid full year ROE, a strong balance sheet and an attractive total dividend of $3.06 per share, up 38% year on year, making the stock more of a yield and quality hold as near term earnings face rate and tax headwinds while longer term fundamentals remain intact.

.

Thought while mixed, I thot it’s an acceptable set of results, 4Q was clearly soft due to tax and allowance drag, but the full year performance is still healthy, balance sheet strength and ROE remain top tier, and a generous total dividend of S$3.06 per share for FY2025, including an *81 cent* payout for 4Q and a clear commitment to continued capital return dividends into 2026 and 2027, making DBS more of a steady income and defensive anchor than a growth play in the near term.

https://links.sgx.com/1.0.0/corporate-announcements/QSJXD9CBG6EZP308/874480_4Q25_CEO_presentation.pdf

https://links.sgx.com/1.0.0/corporate-announcements/QSJXD9CBG6EZP308/874481_4Q25_CFO_presentation.pdf

.

===

*Happening Today*

SG XD:

— ParkwayLife Reit: SGD 0.0096 + SGD 0.0505

SG:

— Foreign Reserves USD (MoM) (Jan)
JP:

— Current Account

US:

— Fed Waller Speaks (2:30 SGT)/ FOMC Member Bostic Speaks (04:15 SGT)

.

===

*SG Stock news*

— *Frasers Property* generated $1.4 bil in pre-sold residential revenue

https://links.sgx.com/1.0.0/corporate-announcements/MO1BAXTLPOXX45U8/874421_FPL%201Q%20FY26%20Business%20Updates.pdf

— *Elite UK REIT* delivered a resilient FY2025 with DPU rising 5.6 percent year on year to 3.03 pence, supported by lower borrowing costs, improved gearing and a long 7.2 year WALE, reinforcing the stability of its income profile despite softer NPI.

https://links.sgx.com/1.0.0/corporate-announcements/8BOT98UT834OO046/874487_Elite%20UK%20REIT-FY2025%20Results%20Presentation.pdf

— *iX Biopharma* showed clear operational progress in 1H FY2026, with gross margin improving to 26 percent, nutraceuticals revenue surging 170 percent, adjusted EBITDA losses narrowing by 37 percent, and a strengthened balance sheet with positive working capital restored.

https://links.sgx.com/1.0.0/corporate-announcements/H30SAJPH6V9AU7YH/874492_iX%20Biopharma1H26%20Results%20-%20Press%20Release.pdf

— *Capitaland Investment’s* Ascott delivered a standout growth year by signing a record 19,000 units across 102 properties in 2025, expanding into over 10 new cities and strengthening its asset light, higher fee business, which positions it well to exceed its S$500m fee income target as projects come on stream.

—👍 *Chuan Hup* earnings jump more than three times to US$2.1 million

https://www.theedgesingapore.com/news/results/chuan-hup-earnings-jump-more-three-times-us21-million

—👍 *COSCO SHIPPING International (Singapore) Co., Ltd.* is expected to report a net profit attributable to equity holders of the Company of approximately S$7.4million for FY2025 which is approximately 35 percent higher than the net profit attributable to equity holders of the Company of S$5.5 million for the financial year ended 31 December 2024 (“FY2024”). The increase in profits is mainly attributable to higher revenue from logistics, ship repair and marine engineering sectors, as well as lower distribution and finance costs.

—😔 *Asiatic Group* expects to report a net loss in 3Q2026 when compared to a net profit in the 2Q2025, primarily due to lower revenue and higher costs and forex loss recorded on USD denominated receivables from customers and related companies during 3Q2026 due to the depreciation of USD against SGD.

—😔 *Pasture Holdings* expects to report a net loss for 1H2026, mainly attributable to lower revenue and lower gross profit margin generated from pharmaceutical wholesale and distribution segment as compared to 1H2025

—😔 * Santak Holdings* is expected to report a lower revenue and a higher loss after tax for 1HY2026 compared to the 1HY2025, mainly the result of a higher gross loss and selling expenses recorded as well as a decrease in finance and other income in 1HY2026 compared to the prior corresponding period.

—👍 *AcroMeta Group* has entered a strategic partnership with PT Esa Jaya Labdagati to expand into Indonesian nickel trading, with the option for its subsidiary to acquire a 51% stake in a Morowali mining concession, while remaining compliant with local regulations and supporting its global nickel market ambitions.

—👍 *Ever Glory* wins new contracts worth $508 million in 2025

.

===

*Earnings Calendar*

10/2 - NTT DC REIT, FSL Trust

11/2 - CLI^, Prime, UG Healthcare

12/2 - iFAST, ASL Marine

13/2 - Karin, Lendlease

20/2 - UHREIT, UOI

23/2 - Raffles Med^

24/2 - UOB^, GE^. Genting Sing, SIA, Ho Bee

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

26/2 - sasseur^, Seatrium^, Manulife US REIT^, ACRO HT, LHT, Wilmar, Aztech Global, UOL, IREIT Global, Venture, Ultragreen, Thakral, AVEpoint

27/2 - CDL^, Olam^, ST Engg^, Daiwa^, SATS, ComfortDelgro, Hotel Royal, IFS, Mewah, A-Sonic

^ denotes before market opens

.

Sources:

www.sgx.com

www.investing.com

www.theedgesingapore.com

.

Start your investment journey here:

https://tinyurl.com/gotopoems

.

Cheers!

Dan

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

.

#dailyupdate #tradeSGX #poems #danccs

𝐌𝐚𝐫𝐤𝐞𝐭 𝐖𝐫𝐚𝐩 (𝐖𝐞𝐞𝐤 𝐞𝐧𝐝𝐞𝐝 𝟔/𝟐/𝟐𝟔)

*STI Never Skips Leg Day*

While Wall Street was taking a breather from the gym this week, the 𝐒𝐓𝐈 kept up its training routine, extending its fine run of fresh all-time highs, this time clocking in at 4,980, just 20 points shy of the magical 5,000 mark. To be fair, there were moments during the week when the STI looked a little hesitant, like catching its breath between sets. Still, it finished strong, chalking up another 0.7% weekly gain, even as the US and HK China markets were busy shedding weight

*Highs, Breakouts, and Bonus Payouts*

Another week with no shortage of performers, but a few names stood out on my radar.

𝐒𝐢𝐧𝐠𝐓𝐞𝐥 took centre stage after announcing that, together with KKR, it will buy out ST Telemedia Global Data Centres in a S$13.8 billion enterprise value deal. The move secures control of a fast-scaling, AI-driven data centre platform, one of ASEAN’s largest digital infrastructure transactions. The news propelled SingTel to a more than 20-year high of S$4.95 before profit-taking set in, with the stock last at S$4.75 as of Friday noon.

Good earnings drive share prices, and that was clearly the case for 𝐊𝐞𝐩𝐩𝐞𝐥. A strong FY2025, with net profit up 39%, alongside a special FY2025 dividend of 2 cents in cash plus one Keppel REIT unit for every nine shares, lifted the stock to a 10-year high of S$11.65.

National carrier 𝐒𝐈𝐀 also had a good week, at least from a chart perspective. A breakout from a W-shaped formation has emerged, supported by higher SDAV, making the move more convincing. With earnings due on 24 February, the technical setup has put SIA firmly back on investors’ radar.

𝐂𝐚𝐩𝐢𝐭𝐚𝐋𝐚𝐧𝐝 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐓𝐫𝐮𝐬𝐭 feels like a blend of Keppel and SIA rolled into one. Like Keppel, it delivered a stellar set of results, with 2H DPU up 9.4 percent and distributable income rising 16 percent. And like SIA, the chart joined the party, with a clear breakout that lifted prices to a six-year high of S$2.49.

Not sure what’s brewing at 𝐁𝐨𝐮𝐬𝐭𝐞𝐚𝐝 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞, but the market seems happy with the share price surge. Like the others, it hit an 11-year high of S$2.09, breaking through the previous resistance at S$1.95. The chart looks picture-perfect, with both short- and long-term moving averages trending up. A little context: a few months back, there was news of the proposed listing of UI Boustead REIT, which may be adding some extra buzz.

Cheers!

Dan

See Disclaimer

#weeklywrap #tradeSGX #danccs

===

If you think Dan can value add to your investment journey, click here: tinyurl.com/gotopoems

Disclaimer: tinyurl.com/dan-disclaimer

Price is holding the higher support zone around $57.00 after reaching new highs.

𝑵𝒐 𝒆𝒙𝒊𝒕 𝒔𝒊𝒈𝒏𝒂𝒍𝒔 𝒋𝒖𝒔𝒕 𝒚𝒆𝒕, 𝒊𝒔 𝒕𝒉𝒆𝒓𝒆 𝒎𝒐𝒓𝒆 𝒖𝒑𝒔𝒊𝒅𝒆?

I just published my latest breakdown, and how to ride it with DLCs:

👉🏻 𝗥𝗲𝗮𝗱 𝗳𝘂𝗹𝗹 𝗮𝗿𝘁𝗶𝗰𝗹𝗲 𝗵𝗲𝗿𝗲 >> https://joeychoy.beehiiv.com/p/dbs-is-coil...

We’ve just wrapped up another AMAS SG session where we broke down the 𝐒𝐓𝐈, analysed 15+ 𝐒𝐆 𝐬𝐭𝐨𝐜𝐤𝐬 𝐫𝐞𝐪𝐮𝐞𝐬𝐭𝐞𝐝 𝐛𝐲 𝐲𝐨𝐮, and shared 𝟑 𝐛𝐨𝐧𝐮𝐬 𝐒𝐆 𝐬𝐭𝐨𝐜𝐤 𝐩𝐢𝐜𝐤𝐬, all using the 𝟏𝐆𝐓 (𝐏𝐫𝐨) 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫.

Some of the stocks covered include Keppel, IFAST, UOB and many more...

📅 𝐌𝐢𝐬𝐬𝐞𝐝 𝐢𝐭 𝐨𝐫 𝐰𝐚𝐧𝐭 𝐭𝐨 𝐫𝐞𝐰𝐚𝐭𝐜𝐡?
👉 Watch the full replay here:
https://www.youtube.com/watch?v=LpoG_CMlSVA

$Keppel(BN4.SI)broke through the 11.50 resistance, potentially turning it into a new support as price moves toward the 12.00 psychological resistance.

All 20d, 100d and 200d moving averages are sloping up, keeping the broader uptrend intact. 3 consecutive 1GT Bullish signals remain in play.

If price can break firmly above 12.00, the next potential target could be raised to 12.50. With buyers back in control, could a clean push through 12.00 open the path towards 12.50 next?🚀

@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!

Many people find themselves stuck buying high, selling low, or not investing at all due to fear or past losses. If this sounds familiar, this session is for YOU.

Led by a seasoned expert with over 30 years of experience advising top institutional investors, this session offers practical tools to help you take control of your financial future.

Don’t miss out, your journey to financial independence starts here!

Sign up here: http://bit.ly/404jOHm

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)

https://www.youtube.com/watch?v=SqiiJkE3eLQ
$Singtel(Z74.SI)

Mixed performance across the sector this week as major REITs released FY2025 and 3Q results:
🔹 AIMS APAC REIT: Strong 3Q performance with NPI up 4.1% YoY. Portfolio occupancy rose to 95.4% with healthy 8.0% rental reversions. $AIMS APAC Reit(O5RU.SI)
🔹 CapitaLand Ascendas REIT (CLAR): FY2025 distributable income grew 1.4% YoY. However, DPU dipped slightly to 15.005 cents due to an enlarged unit base from recent fundraising. $CapLand Ascendas REIT(A17U.SI)
🔹 Digital CORE REIT: FY2025 DPU stood at 3.60 U.S. cents. The REIT expanded its footprint into Japan with a 20% interest acquisition in an Osaka data center. $DigiCore Reit USD(DCRU.SI)
🔹 First REIT: Results supported by built-in rental escalations in Indonesia/Singapore, maintaining a robust 100% occupancy. $First Reit(AW9U.SI)
🔹 CapitaLand China Trust: Focused on portfolio reconstitution, successfully divesting CapitaMall Yuhuating at a premium. $CapLand China T(AU8U.SI)

Check out more info below:
https://reitsavvy.com/insights/s-reits-wee...

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://www.kennyloh.net/

Analyzing iFAST Corporation Ltd (SGX: $IFAST(AIY.SI)) as of February 8, 2026, involves looking at its massive growth phase in Hong Kong and its maturing digital bank operations.

‌

Note that the company is scheduled to release its 4Q2025 and Full Year 2025 results on February 12, 2026, so current sentiment is likely driven by anticipation of these numbers.

‌

📊 Fundamental Analysis (FA)

‌

iFAST has transitioned from a pure wealth management platform to a diversified fintech player. Its valuation remains "growth-oriented" (higher P/E), backed by strong recurring revenue.

‌

1. Key Performance Drivers

‌

• HK ePension Project: This is the primary growth engine. As more trustees onboarded through late 2025 and early 2026, the high-margin revenue from this project has started to scale significantly.


• iFAST Global Bank (iGB): After turning profitable in 4Q2024, the bank has maintained profitability through 2025. It serves as a liquidity hub, allowing iFAST to capture more of the value chain.


• Assets Under Administration (AUA): Hit a record S$30.62 billion (as of 3Q2025). High AUA leads to stable, recurring platform fees.

2. Financial Health

‌

‌

Analyst Consensus: Most houses (DBS, etc.) maintain a BUY rating with target prices ranging between S$10.60 and S$12.60.

‌

Analyst Price Targets (12-Month Outlook)

‌

The consensus remains overwhelmingly positive, with most analysts valuing the company based on its high-growth fintech components (Hong Kong ePension and Digital Bank) rather than just its traditional wealth platform.

‌

‌

The "Why" Behind the Numbers

‌

🚀 The Catalysts (Why it could go UP)

‌

• eMPF Efficiency: As more Hong Kong pension trustees migrate to the iFAST-built platform throughout 2026, the company's profit margins are expected to widen because the "heavy lifting" (IT development) is already done.


• Bank Scaling: iFAST Global Bank (iGB) is no longer a cost center. Increased deposit inflows and the launch of higher-margin lending products could trigger a massive re-rating.


• AUA Milestone: The company is aggressively chasing a S$100 billion AUA target by 2028–2030. Every billion added to the platform translates directly into sticky, recurring fee income.


• Dividends: Management has signaled a commitment to higher payouts, with 2025 dividends projected to be at least 39% higher than the previous year.

⚠️ The Risks (Why it could go DOWN)

‌

• High Expectations: Trading at a "Fintech Multiple" means any slight miss in the Feb 12 earnings report could lead to a sharp, knee-jerk sell-off.


• Execution Delays: The Hong Kong project is complex. Any technical glitches or regulatory delays in onboarding the final batch of trustees would hurt sentiment.


• Capital Intensity: While the digital bank is profitable, it still requires significant capital to grow. If growth requires a cash call or new debt, it may dilute short-term shareholder value.

‌

📈 Technical Analysis (TA)

‌

The stock is currently experiencing some short-term downward pressure or consolidation ahead of its earnings release.

‌

1. Price Action & Trend

‌

• Current Price: Approximately S$9.65 (as of last close).


• Short-term Trend: The stock has seen a recent dip (down ~6% over the last week).


• Support: Immediate support sits around the S$9.50 - S$9.60 zone. A stronger historical floor is at S$9.00.


• Resistance: Heavy resistance is noted at the S$10.50 psychological level and the 52-week high of S$11.06.

‌

2. Indicators (Daily Chart)

‌

• RSI (14): Currently near 28, indicating the stock is in oversold territory. This often precedes a "dead cat bounce" or a recovery if earnings on Feb 12 are positive.


• Moving Averages: The price is trading below its 5-day and 50-day MAs, suggesting a short-term bearish crossover. However, it remains above long-term levels (200-day MA) from its 2024/25 rally.


• MACD: Currently negative, showing bearish momentum in the immediate term.

‌

💡 Summary & Verdict

‌

• Bull Case: If the Feb 12 results show that the Hong Kong ePension margins are expanding faster than costs, the stock could see a sharp "oversold" rally back toward S$10.50.


• Bear Case: High expectations are baked into the price. Any guidance suggesting a slowdown in iGB deposit growth or delays in the next phase of the HK project could lead to a retest of the S$9.00 support.

What makes a company worth backing for the long haul? In a recent discussion, iFAST leadership shared the three critical factors that gave them the confidence to acquire and partner with Financial Alliance (FA).

‌

$IFAST(AIY.SI)

‌

View the Fireside chat recorded interview in the link below:
https://www.linkedin.com/posts/kennyloh-in...

‌

Expert advice on insurance, investment, and legacy planning is available through http://kennyloh.net , an MAS-licensed Wealth Advisory Director and SGX Academy trainer.

Had a great opportunity to share my views on gold, Singapore stocks, and global market risk.

Stocks/ETFs to Watch on SGX:

$GLD US$(O87.SI) 

$Singtel(Z74.SI) 

$SIA(C6L.SI) 

$Sembcorp Ind(U96.SI) 

$Ho Bee Land(H13.SI) 

$ThaiBev(Y92.SI) 

Here are the key takeaways 👇

🥇 Gold: Long-term bullish, short-term wild

The big picture hasn’t changed:
✅ US deficits rising
✅ Central banks still buying
✅ Geopolitical uncertainty remains high
But after gold broke above 4,600, speculative money rushed in…
📈 +1,000 points in just 7 days.
Too fast. Too crowded. Too dangerous.
When Trump nominated Kevin Warsh (seen as more hawkish), rate expectations shifted, USD rebounded — and gold saw a sharp historical sell-off.
📌 Long-term trend intact, but volatility is here to stay.

Singapore equities:
The sleeping lion is waking up 🦁
STI has climbed from ~3,300 (Apr 2024) toward 5,000 highs.
This is not a small rebound — it’s a real bull cycle.

What’s changing?
✨ Better shareholder returns
✨ Corporate transformation + AI
✨ Valuations still attractive
Fair value could extend toward 5,600–6,000 over time.
Key leaders remain:
🏦 Banks
🏙 Property stocks

Investment reminder：
1️⃣ Core positions in large index leaders
2️⃣ Look for undervalued quality names (Singtel, SIA, Sembcorp, Ho Bee Land, Thai Beverage…)
3️⃣ Most important: Watch the US market closely
If a US black swan hits, Singapore won’t be spared.
⚡ Take profits when needed
⚡ Cut losses fast
💰 Cash is king

My philosophy：
Value tells you what to buy.
Price charts tell you when to act.

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

This is the weekly investment idea I share regularly with my valued clients.

$SIA(C6L.SI) 

My Recommendation: BUY at $6.70

🎯 Target Price: $7.18 → $7.63

Singapore Airlines is showing improving fundamentals alongside a bullish technical breakout setup. With earnings stabilising, resilient travel demand, and dividend yield above 5.6%, SIA offers an attractive risk-reward opportunity at current levels.

________________________________________

✅ Key Positives Supporting SIA

1) Passenger demand remains strong

• Dec 2025 Passenger Load Factor: 87.9%

• Passenger carriage: 3.8m (+4.8% YoY), a new monthly record

________________________________________

2) Global aviation growth remains supportive into 2026

• Forecast global passenger demand growth: +4.9% YoY in 2026

• Aviation cycle remains in expansion, not contraction

________________________________________

3) Earnings are stabilising / bottoming out

• 1H FY2025/26 operating profit: S$803m, stable YoY

• Passenger traffic: +4.6% vs capacity: +3.5%

• Passenger yield: -2.9%, showing signs of stabilisation

• Earnings cycle appears to be bottoming out, setting up recovery into FY26

________________________________________

4) Dividend Support (“Paid-to-Wait”)

At current price levels, SIA offers a dividend yield of more than 5.6%, allowing investors to enjoy strong cash returns while waiting for earnings recovery and a potential share price rebound.

________________________________________

Technical View:

SIA has surged over the past four trading days with strong volume confirmation. My General X Momentum Trend-Following Indicator triggered a BUY signal on 5 Feb (Thu). The price has also stayed above the 200-day EMA for two consecutive sessions, signalling a return to a bullish trend structure.

A decisive breakout above 6.76 resistance could open the next upside targets at:

🎯 7.18

🎯 7.63

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

For many years, $Singtel(Z74.SI) was seen as a slow-moving, defensive telco mainly held for dividends.    

That perception is changing.   

Over the past few years, Singtel has quietly transformed itself from a traditional Singapore telco into a diversified regional digital and infrastructure group.    

Today, Singtel has exposure to:   

• Regional telecom operations in India, Thailand, and Australia   

• Digital and IT services via NCS   

• Data centres and digital infrastructure  

• A stronger focus on capital discipline and shareholder returns    

That’s why several broker houses remain constructive on its outlook, even after the strong share price performance in 2025.    

🔹Fundamental View:   

• Core earnings quality is improving with better execution and cost discipline  

• Growth is increasingly driven by overseas businesses, not the competitive Singapore mobile market  

• Capital is being redeployed from low-return assets into higher-quality segments  

• Asset recycling has translated into dividends and share buybacks    

🌟2026 broker target prices:   

• DBS: S$5.71   

• Phillip Securities: S$5.35   

• OCBC Investment Research: S$5.75    

Consensus view: further re-rating is possible if returns on capital continue to improve.    

🔹Technical View:  Singtel’s share price has been falling after hitting its all-time high of S$4.92 on 18 Nov 2025.  It recently found strong support around S$4.40 and staged a rebound.  

My General X momentum trend-following indicator triggered a Buy signal on 27 Jan.  If momentum continues, the next technical objective is a retest of S$4.92, and a potential move higher if that level is cleared.    

🔹Risks to watch:  

• Ongoing competition in Singapore mobile  

• Regulatory and operational risks at Optus  

• FX movements affecting reported numbers    

🔹Bottom line:  What used to look like a “boring telco” is evolving into a more resilient regional digital and infrastructure player — with improving fundamentals and a constructive technical setup. Worth keeping on the watchlist.

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