𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *2/9/26*
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STI: 5710 (-44) | HSI: 25329 (-237) | Dow: 52766 (-419) | S&P: 7631 (-54) | Nasdaq: 26099 (-271)
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*US Markets Overnight*
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*September Starts With a Crude Awakening*
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Wall Street kicked off September firmly in the red. The Nasdaq fell 1.0%, Dow lost 0.8% and S&P 500 slipped 0.7%, as oil and Treasury yields climbed together. The bigger concern is the combination. WTI surged 5.6% to US$90.55, after fresh US strikes on Iran, while the 10-year Treasury yield climbed towards 4.80%, its highest since January 2025. Markets are now pricing around a 68% chance of a September Fed rate hike.
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A tricky feedback loop here. Higher oil feeds inflation concerns, inflation keeps the Fed hawkish, and higher yields put pressure on equity valuations, particularly growth stocks.
Tech felt the heat. Tesla fell 3%, Amazon lost 2%, Dell dropped 7% and Palo Alto Networks sank 5%, while memory and semiconductor stocks also retreated. Apple bucked the trend, gaining around 2.5% on John Ternus’ first day as CEO.
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Next up, Broadcom earnings and Friday’s jobs report. With rate-hike expectations rising, good economic news may once again become bad news for markets.
September certainly didn’t waste much time living up to its reputation. 😅
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*What’s Brewing Today*
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$BRC Asia(BEC.SI) is likely to see market interest today as it said it is exploring diversification into the AI value chain. Seems like everyone is jumping on the AI bandwagon 😂.
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One long green bar on $Sembcorp Ind(U96.SI) . Continue to be top of my watchlist as it continues its rebound now that the portfolio rebalancing overhang is over. $Oiltek(HQU.SI) is in my “early-stage” watchlist… hahaha… rebounding off a confluence of 200MA and a support line. Still early days, but worth monitoring.
(chart: https://drive.google.com/file/d/1kLLbcpXh7IF7dc-X1pLxiw4-tZ693McM/view?usp=sharing)
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*Happening Today*
SG XD:
— Ping An Insurance SDR: S$0.15
EU:
— German Retail Sales (MoM) / German Retail Sales (YoY) / HCOB Germany Manufacturing PMI / HCOB Eurozone Manufacturing PMI
US:
— ADP Nonfarm Employment Change / S&P Global Services PMI / S&P Global Composite PMI / Factory Orders (MoM) / Crude Oil Inventories
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*SG Stock news*
—⭐ *BRC Asia* is actively exploring diversification into the AI value chain, including data centres, semiconductors, GPUs and storage, and has engaged Deloitte and legal advisers for a strategic review.
https://links.sgx.com/1.0.0/corporate-announcements/KRH6S7DVNQSJY232/903181_BRC_Exploration%20of%20Opportunities%20and%20Possible%20Diversification%20and%20Expansion%20of%20New%20Businesses.pdf
—⭐ *Nanofilm* expects stronger 2H2026 momentum, while Sydrogen targets EBITDA breakeven by year-end after securing a China automotive contract expected to generate tens of millions in revenue over five years.(transcript)
https://links.sgx.com/1.0.0/corporate-announcements/F7SQWCXN1I617Q43/903167_NTI%201H2026%20Briefing%20-%20Transcript.pdf
— *Frasers Property* will redevelop Yishun 10 into a mixed-use project with about 110 residential units and a retail podium, targeted for launch in mid-2027 and completion in 2031.
https://links.sgx.com/1.0.0/corporate-announcements/98EYT0VJHGP40VME/903244_FPL_Press%20Release.pdf
— *EGP Energy* secured a new S$6.2 million T&D contract, lifting its order book to approximately S$305.1 million, its third contract announcement since listing in July.
https://links.sgx.com/1.0.0/corporate-announcements/HCHXCYRHJ9N8XLQN/903196_EGP%20Energy%20Corp%20Limited%20-%20%246.2mil%20contract.pdf
— 👍 *NIO* 2Q2026 revenue surged 69.1% to RMB32.1 billion as deliveries rose 49.4%, while net loss narrowed sharply to RMB528 million and adjusted net profit turned positive.
https://links.sgx.com/1.0.0/corporate-announcements/VSD4VGK6GV6KICPP/903211_NIO%20Inc.%20Reports%20Unaudited%20Second%20Quarter%202026%20Financial%20Results.pdf
—💡 *RH Petrogas* confirmed strong gas-condensate deliverability and an unexpected oil discovery at its NWK-1 well in Indonesia, with gas flow reaching up to 6.16 MMSCFD during testing.
https://links.sgx.com/1.0.0/corporate-announcements/238XBPZFAA726KN9/903215_RHPL%20NWK-1%20Testing%20Results%201Sep2026.pdf
— *Intraco* partially completed iChange’s strategic investment by Oman-based MPMR, which invested S$1.5 million for an approximately 13% stake, with the remaining subscription yet to complete.
https://links.sgx.com/1.0.0/corporate-announcements/IZ9GUTZD7DCEK32R/903213_Intraco%20-%20Strategic%20Investment%20in%20iChange_Partial%20Completion.pdf
— *Alliance Healthcare* secured a three-year contract from ALPS to provide Mobile Inpatient Care at Home services to participating public healthcare institutions, with an option for a further three years.
https://links.sgx.com/1.0.0/corporate-announcements/7P2MAOQ5CUK5X4PR/903159_AHG-Tender%20Award-ALPS_MIC_Home_Final.pdf
— *Kim Heng* will acquire an additional 35% of Korean offshore-wind JV Soiltech Adira Korea for US$680,000, raising its stake from 49% to 84% and giving it control of the company.
https://links.sgx.com/1.0.0/corporate-announcements/35WYPGVK0HB7U2H2/903175_20260901%20Kim%20Heng%20STAK%20Announcement.pdf
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Rgds, Dan
https://www.phillip.com.sg/talktophillip/danccs/
https://tinyurl.com/dan-disclaimer
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