𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *13/8/26*
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STI: 5720 (-30) | HSI: 25440 (-212) | Dow: 53771 (-21) | S&P: 7748 (+20) | Nasdaq: 26588 (+143)
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*US Markets Overnight*
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*When Goldilocks Meets the GPU*
Seems to me this was less an inflation rally and more a green light for the AI trade to get back on the highway. CPI behaved itself 😁, bond yields stayed relatively contained, and investors quickly went shopping for growth again. The catch? The rally was surprisingly selective … beneath the headline indices, the market was rewarding earnings delivery rather than simply buying every mega-cap tech name.
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Wall Street finished mostly higher overnight, with the Nasdaq +0.5% and S&P 500 +0.3%, while the Dow was basically flat. July headline CPI eased to 3.4% YoY from 3.5%, while core inflation cooled to 2.5% from 2.6%, both bang in line with expectations. That keeps the Fed’s “no need to hike” narrative alive, especially after last week’s softer jobs numbers. For markets, sometimes boring inflation is beautiful.
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The real fireworks were in AI infrastructure. *CoreWeave* and *Super Micro Computer* both surged around 19% after strong results, while Lumentum jumped 14%. The enthusiasm spilled across semiconductors and memory stocks, with Micron, Sandisk, Western Digital, SK Hynix and Seagate all sharply higher. Nvidia (NVDA) gained 3%, but interestingly, it was the only Magnificent Seven member to finish green. That tells you where investors are looking: increasingly beyond the obvious AI winners and towards the companies supplying the picks, shovels (and increasingly expensive servers) behind the boom.
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Elsewhere, Nebius (NBIS) rocketed 34% and CAVA (CAVA) jumped 14% following earnings. Oil slipped despite escalating Middle East tensions, while gold rose and Bitcoin eased slightly. Overall, it was a constructive session: inflation didn’t spoil the party and corporate earnings gave investors another reason to embrace AI. For now, Goldilocks is still in the building, but she’s carrying a GPU.
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PS: “When Goldilocks Meets the GPU” basically means a market-friendly inflation backdrop meets strong AI enthusiasm 🙂.
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*What’s Brewing Today*
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Wow. Took me quite a while this morning. In total, I capture about 30 earnings / business updates 😂.*CapitaLand Investments*, *CityDev*, *Sembcorp*, *ST Engg*, *Ultragreen*, *Wilmar*, *AEM*, *NTT DC REIT*, *Riverstone*, *HRNetGroup*, *Centurion*, *HL Asia*, *YZJ Financial* were the notable names, among others.
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Personally, I am most impressed with and will look out for ⭐️ $ULTRAGREEN AI USD(ULG.SI), $CityDev(C09.SI), $Food Empire(F03.SI), $AEM SGD(AWX.SI), $Hong Leong Asia(H22.SI)⭐️.
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You can find the details below.
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*Happening Today*
SG XD:
— Old Chang Kee: SGD 0.020
— Ley Choon: SGD 0.002
— Powermatic Data: SGD 0.19
— Sheng Siong: SGD 0.0375
— Daiwa Hse Log Tr: SGD 0.0182
— CapLand Ascendas REIT: SGD 0.03732
— SS SPDR STI ETF: SGD 0.093
— Cent Accom REIT: SGD 0.03499
— CapLand China T: SGD 0.0245
— CreditBureauAsia: SGD 0.022
— IREIT Global SGD: EUR 0.0037
SG Earnings:
— CLI^, CDL^, sembcorp^, ST Engg^, Genting Sing, SERT^, Thakral, Nanofilm, EC World, Global Investment, CSE Global, APTV, Frencken, Megachem
CN
— New Loans (Jul)
EU
— Industrial Production (YoY) (Jun)
US
— PPI (MoM) (Jul) / Initial Jobless Claims / Core PPI (MoM) (Jul) / Continuing Jobless Claims / Fed Balance Sheet
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*SG Stock news*
— ⭐ *CapitaLand Investments* reports 13% growth in operating Patmi and 14% growth in total Patmi in 1H2026
— ⭐ *CityDev* delivered a strong 1H2026, with revenue up 61% to S$2.7bn and PATMI more than tripling to S$301.6m, powered by property development, particularly Lumina Grand — while its hotel business returned to profit and liquidity remained healthy at S$4.9bn.
— ⭐😔 *Sembcorp* 1H2026 underlying profit fell 25% YoY to S$369m, weighed by weaker gas and renewables earnings, but management expects a stronger 2H as Alinta kicks in, Singapore earnings improve and land sales rise, confidence reflected in a higher 11-cent interim dividend.
— ⭐ *ST Engg* 1HFY2026 earnings outpaced revenue growth on more favourable business mix
— ⭐ *Ultragreen* Delivers Strong 1H2026; Underlying Net Profit Rises 45% to US$39.4 Million. Declared dividend of US$0.01 per share for 1H2026
— ⭐ *Wilmar* 1H2026 core net profit up 10% to US$641.5M. 1H2026 pre-tax profit increased 13% to US$1.06B while net profit grew 2% to US$608.9M. Interim tax-exempt dividend increased to S$0.05 per share
— ⭐️*Food Empire* posts record 1H2026 results amid global uncertainties; 1H2026 revenue and NPAT reaches all-time high, on track to deliver sixth consecutive record full-year performance, barring unforeseen circumstances. Declares interim dividend of 4.0 Singapore cents per ordinary share in 1H2026, up from 3.0 Singapore cents per ordinary share in 1H2025.
— ⭐️ *AEM's* net profit rockets 876% y-o-y to $30.8 mil for 1HFY2026; guides higher FY2026 revenue from $630 mil to $680 mil
— *Stoneweg Europe Stapled Trust* delivers 1.4% DPS growth while advancing strategic initiatives to enhance long-term securityholder value
— *United Hampshire US REIT* Maintains Strong Financial Performance with Growth Across All Key Financial Metrics in 1H 2026. Gross revenue increased by 5.8% with NPI increasing by 6.4% and distributable income by 5.8%. DPU increased by 3.4%
— *StarHub* 1H2026 S$258.1m. NPAT was boosted by a one-off Ensign gain, while the underlying story is improving momentum in Enterprise, orderbook up around 50% YoY, alongside greater mobile scale through MyRepublic, with an interim dividend of 3.0 cents per share.
https://links.sgx.com/1.0.0/corporate-announcements/SHHISGERJI3O68OA/900765_1H2026%20PS.pdf
— ‼️*Singtel* 1QFY2027 earnings down 71.6% y-o-y as prior-year gains lapse
https://links.sgx.com/1.0.0/corporate-announcements/4K16A58L1LIYSHN4/900752_1stqtr_Slides.pdf
— *NTT DC REIT* started FY26/27 strongly, with distributable income beating its IPO projection by 10.6%, occupancy reaching 95.9% (99.2% including committed leases) and positive 13.4% rental reversions, while maintaining a healthy 31% leverage and no debt maturities for the next two years.
— *PropNex* records 1HFY2026 earnings of $40.9 mil
— 👍 *Centurion* reports 34% rise in Core profit to S$87.7M for 1H 2026. Revenue rose 31% YoY to S$184.9 million, driven mainly by contributions from new operational beds in Singapore, the Harum Megah portfolio in Malaysia, and EPIISOD Macquarie Park in Sydney, Australia.
— 👍 *UOL* patmi rises 23% y-o-y to $252.2 mil in 1HFY2026, to update on proposed Marina Square redevelopment by 3QFY2026
— 👍 *HL Asia* Posts 1H 2026 PATMI of S$91.9 Million (up 64.1%). Rise in profitability driven by both Powertrain Solutions and Building Materials businesses. Interim dividend increases 50% YoY to S$0.03/share
— 👍 *Riverstone* 2Q2026 net profit rises 60.2% q-o-q to RM65.8 million
— 👍 *HRNetGroup* delivered resilient profitability in 1H2026 despite flat revenue, with gross profit up 2.4%, operating profit up 10.0%, GP margin improving to 21.3%, and OP/GP conversion rising to 32.4%.
— 👍 *Trek 2000* 1HFY2026 earnings surge close to 11 times to US$2.5 mil, declares 0.5 cents interim dividend
— 👍 *China Sunsine* Reported 19% Increase in 1H2026 Revenue and 5% Increase in Net Profit, Setting Another Half-Yearly Sales Volume Record. Rewarding shareholders with a special interim dividend of SGD 0.01 per ordinary share
— 👍*COSCO SHIPPING Singapore* reported a strong 1H2026, with revenue rising 6% to S$96.8 million and net profit surging 188% to S$7.6 million, driven by higher logistics and marine revenue, increased other income, and lower finance costs.
— *Penguin International* reports 30.1% y-o-y net profit jump to $9.14 mil for 1HFY2026
— *NeraTel* Maintains Turnaround Momentum, Delivering Net Profit of $0.5 Million and EBITDA of $2.4 Million in 1H2026
— ‼️ *Yangzijiang Financial* delivers S$38.3 million (down 29%) net profit in 1H2026 while capital redeployment continues
— *Prime US REIT* Announces DPU Increase to 0.50 US cents Occupancy Increases Above 84%
— *TIH Limited* announced a total comprehensive deficit attributable to owners of the Company of S$3.49M for 1H2026, compared with a deficit of S$1.80 million in the corresponding period last year.
— *LY Corporation* 1H2026 net loss narrowed on improved gross profit; design and retail business partially offset manufacturing segment challenges
— *Audience Analytics* Delivers Strong 1H2026 Growth as Net Profit Increases to $0.64 Million
— *Sunpower* reported strong operational growth for HY2026, underpinned by robust demand across its Green Investments ("GI") portfolio. During the period, the Group achieved growth in both steam sales volume and revenue despite a squeeze on margin due to higher fuel cost.
— *Reclaims Global* secures $19.89 mil in new contracts in 2QFY2026
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*Earnings Calendar:*
13 /8 - Genting Sing, Thakral, Nanofilm, EC World, Global Investment, CSE Global, APTV, Frencken, Megachem
14 /8 - Sasseur^, Olam^, Mewah, Haw Par, CNMC Goldmine
19 /8 - SATS
26 /8 - Micro-Mechanics
27 /8 - ASL Marine, Karin
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Sources:
www.sgx.com , www.investing.com , www.theedgesingapore.com
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Rgds, Dan
https://www.phillip.com.sg/talktophillip/danccs/
https://tinyurl.com/dan-disclaimer
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