𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *6/8/26*
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STI: 5581 (-30) | HSI: 25915 (+62) | Dow: 54349 (+263) | S&P: 7723 (-13) | Nasdaq: 26363 (-221)
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*US Markets Overnight*
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*The Old Guards Keep Marching On!*
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The Dow keeps marching to its own beat. While everyone was watching tech, it was the old economy names that quietly stole the show. Shows that that bull markets don’t always move in a straight line, and leadership can rotate faster than many expect.
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The Dow Jones closed at yet another record high, extending its winning streak to five sessions, while the S&P 500 slipped 0.2% and the Nasdaq fell 0.8% as profit taking hit several technology names. SpaceX tumbled nearly 14% after investors digested its first earnings as a listed company, while *AMD* fell 6.5% despite beating expectations, proving once again that good results don’t always mean a higher share price when expectations are already lofty. On the brighter side, *Shopify* surged 17%, with strong gains from Booking Holdings, Eli Lilly and Disney after earnings. Nvidia continued its impressive run, climbing 3.5%, although other semiconductor names like Sandisk and Western Digital pulled back ahead of their results. Oil prices were relatively stable as markets watched developments around a possible US-Iran agreement on the Strait of Hormuz, while Treasury yields stayed around 4.63%. Overall, it felt like a healthy rotation rather than a broad market sell-off, with investors selectively rewarding earnings winners and taking profits where valuations had run ahead.
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*What’s Brewing Today*
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Well, guess we are getting used to it, not in a bad way though. Just don’t know how long rhe good times can continue to roll. Another record quarter from $DBS(D05.SI), showing that its earnings engine is becoming less dependent on interest rates and more driven by wealth, fees and customer activity. This is probably the kind of quality investors like to own, steady execution, diversified income and a business that keeps compounding even when the rate cycle becomes less favourable. Which sort of explain the record breaking share price. What’s your view?
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*Happening Today*
SG XD:
— Jason Marine: SGD 0.0075
— FortressMineral: SGD 0.00472
— GP Industries: SGD 0.0175
— CATL HK SDR 30to1: HKD 0.04838
— Mapletree PanAsia Com Tr: SGD 0.0196
— CDL HTrust : SGD 0.0215
— Far East HTrust: SGD 0.0163
— Samurai 2K : SGD 0.002
SG Earnings:
— DBS*, Manulife US REIT^, ACROPHYTE HT^, Venture, SGX^, Avepoint, JustCo
EU
— ECB Economic Bulletin / Retail Sales (YoY) (Jun)
US
— Initial Jobless Claims / Nonfarm Productivity (QoQ) (Q2) / Continuing Jobless Claims / Atlanta Fed GDPNow (Q3) / Fed's Balance Sheet
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*SG Stock news*
— *DBS* posted a record second quarter, with net profit rising 9% to SGD 3.08 billion as total income exceeded SGD 6 billion for the first time, supported by resilient fee income, record treasury customer sales and wealth assets under management surpassing SGD 500 billion.
— *Capland Ascendas REIT* 1H 2026 distributable income increases by 8.6% year-on-year to S$359.4 million. Performance driven by disciplined portfolio rejuvenation
— *Centurion Acc REIT* delivered a 1H2026 DPU of 3.499 cents, 9.6 percent above its IPO forecast, supported by stronger rental rates, high occupancy, portfolio expansion, and a healthy balance sheet.
—😀 $Koh Bros(K75.SI) posted a 24% rise in 1H2026 revenue to $188.0 million, driven by its construction business, although higher material and procurement costs weighed on profitability despite a healthy $1 billion order book and a stronger cash position of $125.7 million.
—😔*Koh Brothers Eco* slipped into a $5.7 million net loss despite a 29% jump in 1H2026 revenue to $144.1 million, as higher material and procurement costs squeezed margins, although its $1 billion order book and $61.3 million cash balance remain supportive of future growth.
— *Manulife US REIT* exceeded its asset sale target after divesting Figueroa, using the proceeds to cut debt while improving portfolio occupancy to 70.4%, although distributable income declined due to earlier asset sales.
— *Acrophyte HT* reported a softer 1H2026, with revenue falling 2.6% and net property income down 6.1% due to hotel divestments and higher operating costs, although same-store revenue still edged up 0.4%.
— *IREIT Global* delivered a resilient 1H2026 performance, with higher portfolio occupancy and stable DPU, supported by broadly stable underlying revenue and net property income alongside improved leasing momentum.
— *LMS Compliance* Records a 40.5% Increase in 1H FY2026. Net profit grew 23.9% y-o-y to RM3.43 million in 1H FY2026
—👍 $Coliwoo Hldgs(W8W.SI) plans to sell and lease back its 212-room Coliwoo Midtown property for S$134 million to *Capland Ascott Trust*, unlocking capital to support its asset-light growth strategy while retaining operational control through a 10-year lease.
— *Hock Lian Seng* swung from a $8.6 million profit to a $54.0 million loss in 1H2026, mainly due to a 50.9 percent drop in revenue and gross loss caused by significantly higher cost of sales exceeding revenue.
—💪 $Keppel(BN4.SI) achieves S$2.1 billion of monetisation year-to-date with sale of Vietnam project for approx. S$343 million in cash
—💪 $CSE Global(544.SI) records S$199.1 million in new orders for 2Q2026
—👍*Mermaid Maritime* is expanding into the US offshore energy market by establishing a wholly owned Delaware entity to pursue marine and subsea service opportunities, diversify its revenue base, and drive long term growth through a phased, disciplined market entry strategy.
—🙏S&P Global affirmed *Singapore Post’s* BBB-, Stable credit rating, citing its strong cash position and stable rental income from SingPost Centre as offsets to the structural decline in its postal business and weak profitability in its competitive logistics operations.
— *Karin Technology* expects to report a net loss for FY2026, primarily due to a one off, non cash HK$38.6 million catch up depreciation and deferred tax charge related to the reclassification of Karin Building, while the underlying business would have remained profitable without these accounting adjustments.
—👍 *EGP Energy* expects a substantial increase in revenue and net profit for 1H2026, driven by the commencement of new projects and continued progress on projects secured in the previous financial year.
—👍 *Vin’s Holdings* expects to swing to a marginal net profit in 1H2026 from a loss a year earlier, driven by stronger automobile after sales revenue and gross profit, as well as the absence of one off listing expenses incurred in 1H2025.
— *World Precision Machinery* is expected to report a loss after tax in 1HFY2026.
— *Ascent Bridge* expects to report a net loss in Q1 FY2027, mainly due to weaker revenue from lower duty free and export sales, partly offset by inventory sale proceeds related to the disposal of MTBL Cultural Centre.
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*Earnings Calendar:*
6 /8 - Venture, Avepoint, JustCo
7 /8 - OCBC^, UOB^, Elite UK REIT^, Netlink, BHG REtail, HL Finance, Ho Bee
11 /8 - SingLand, UOI, Frasers Property, OKP
12 /8 - CICT^, Wilmar, HL Asia, UOL, Ultragreen, NTT DC REIT, PrimeUSREIT, Centurion, AP Oil, China Sunsine
13 /8 - CLI^, CDL^, sembcorp^, ST Engg^, Genting Sing, SERT, Thakral, Nanofilm, EC World, Global Investment, CSE Global, APTV
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:
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Rgds, Dan
https://www.phillip.com.sg/talktophillip/danccs/
https://tinyurl.com/dan-disclaimer
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