𝐌𝐚𝐫𝐤𝐞𝐭 𝐖𝐫𝐚𝐩 (𝐖𝐞𝐞𝐤 𝐞𝐧𝐝𝐞𝐝 𝟐𝟏/𝟖/𝟐𝟔)
𝐍𝐨 𝐀𝐓𝐇 𝐓𝐡𝐢𝐬 𝐖𝐞𝐞𝐤, 𝐒𝐨𝐫𝐫𝐲! 😂
After what has been a remarkable run for the Singapore market, the $STI(STI.SI) finally took a breather this week. From around 5,743, the index slipped below 5,700 to settle at 5,664 as of Friday morning.
Not a great week, especially for some individual stocks. But as I mentioned in a few media interviews recently, a pullback after such a strong run should not come as a huge surprise. Tech stocks, which had enjoyed an even sharper rally, were particularly vulnerable to some profit-taking.
$AEM SGD(AWX.SI) was probably the best example of how quickly sentiment can swing. After surging to an ATH of $11.54 last week, the stock saw huge volatility and fell towards the $9.50 region this week, a correction of ~19%.
Last week, we were just talking about it. Things turned around very fast. $ULTRAGREEN AI USD(ULG.SI) had an even more brutal week, plunging around 35% after news of a potential competitor surfaced. The size of the sell-off was staggering, and what stood out was the lack of any meaningful rebound even after UltraGreen issued a clarification to a The Business Times article that published the news. Competition is something every growing business eventually faces, but a 35% haircut shows just how quickly the market can reprice expectations when uncertainty enters the picture.
$SATS(S58.SI) also had a rough reaction to its 1QFY27 results. Operationally, the quarter was strong, with revenue up 11.3%, driven by cargo volumes and market-share wins. But EBITDA (+5.9%) and PATMI (+6.0%) lagged revenue growth as Gateway margins compressed. Free cash flow of S$22.6m is also worth watching. SATS plunged to the $4.05 support area as of Friday morning.
$Sembcorp Ind(U96.SI), on the other hand, had a decent week. It climbed from $5.83 to as high as $6.10 before pulling back. More importantly, an 11-cent interim dividend was declared, up from 9 cents last year. Factor that in, and shareholders had a pretty respectable week.
One under-the-radar winner was ⭐ $Bumitama Agri(P8Z.SI). The stock surged from $1.86 to a new 𝐚𝐥𝐥 𝐭𝐢𝐦𝐞 𝐡𝐢𝐠𝐡 of $2.25 after reporting 1H2026 net profit growth of 44% to IDR1.83 trillion, with EBITDA up 37% to IDR3.50 trillion, supported by record production and stronger productivity.
And one worth watching, $OUEREIT(TS0U.SI).
After trading sideways for some time, the units started moving after reports that OUE REIT is nearing a sale of One Raffles Place to a CapitaLand Investment-IOI Properties JV for just under S$2.4 billion, versus the property's S$2.37 billion end-2025 valuation.
A reminder from this week: when markets have run hard, volatility works both ways. Sometimes taking one step back is simply part of climbing higher.
Rgds!
Dan
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