𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *4/8/26*
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STI: 5600 (-27) | HSI: 26009 (+124) | Dow: 53178 (+693) | S&P: 7600 (+110) | Nasdaq: 25913 (+540)
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*US Markets Overnight*
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*Oil Slips, Bulls Rip*
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Wall Street kicked off August on a strong note, with the Dow surging nearly 700 points to a fresh record high, while the S&P 500 gained 1.5% and the Nasdaq climbed 2.1%. Investors welcomed lower oil prices after President Trump signalled he was holding back on military action against Iran if a deal to reopen the Strait of Hormuz could be reached. Treasury yields also eased, providing additional support for equities. Attention now shifts to Friday’s US jobs report and a busy earnings calendar, with Palantir reporting after the bell, followed by AMD, McDonald’s and SpaceX. Amazon extended Friday’s earnings rally with another 4.5% gain, pushing its market value above US$3 trillion for the first time. Alphabet and Microsoft both rose about 5%, while Boeing jumped 8% to lead the Dow. Apple, however, continued to struggle, slipping another 2% after last week’s sharp sell-off. Elsewhere, AstraZeneca fell 7% on reports it is in merger talks with Bristol Myers Squibb, Marriott dropped after earnings, while Tyson Foods edged higher following its results.
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Fresh record highs are great for headlines, but they also raise the bar for markets. When valuations are already elevated, every earnings report and economic data point matters that little bit more.
*What’s Brewing Today*
$Lendlease Reit(JYEU.SI) delivered a strong set of results, a 3.0% increase in FY2026 DPU to 3.70 cents, underpinned by higher rental income from PLQ Mall, strong retail operating metrics, and disciplined capital management that reduced borrowing costs and improved its balance sheet. With 98.5% retail occupancy, 11.7% positive rental reversion, lower gearing of 38.9%, and ongoing AEI, I think the REIT is well positioned to drive sustainable income growth. Just like some geographically diversified REITs, while LREIT’s Milan office portfolio remains an area to watch, the Singapore retail assets are performing well, and if management continues to execute on leasing at PLQ Mall and Discovery Walk, there is room for further DPU growth in FY2027.
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A solid set of results from $ParkwayLife Reit(C2PU.SI)*, which is commonly biewed as a defensive, stable, high-yield REIT. DPU was up 14.6% YoY but revenue was slightly softer. That siad, investors are likely to focus on the stronger DPU and resilient operating performance. The healthy gearing and lack of near-term refinancing pressure also provide added comfort in the current rate environment.
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Good news for income investors vested in *CapLand Ascott, ESR REIT, MLT, KORE and KIT*, ka-ching ka-ching. Time to collect dividends as all go XD today😆.
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*Happening Today*
SG XD:
— Aztech Gbl: SGD 0.005
— CapLand Ascott T: SGD 0.00382 + SGD 0.0035 +SGD 0.018
— Cortina: SGD 0.14 SPECIAL + SGD 0.02
— ESR REIT: SGD 0.01334 + SGD 0.0005 + SGD 0.10126
— Kep Infra Tr: SGD 0.0199
— KepPacOakReitUSD: USD 0.004
— Mapletree Log Tr: SGD 0.00834 + SGD 0.00672 + SGD 0.0031
SG Earnings:
— ParkwayLife REIT^, FSL Trust
US:
— Trade Balance (Jun) / Exports (Jun) / Imports (Jun) / JOLTS Job Openings (Jun) / Factory Orders (MoM) (Jun)
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*SG Stock news*
— *ParkwayLife REIT* reported a 14.6% increase in 1H2026 DPU to 8.77 cents, driven by higher rental income from Singapore and France, strong hospital revenue sharing, a profitable Japan asset divestment, and a healthy balance sheet despite slightly lower revenue.
— *Lendlease REIT* reported a 3.0% increase in FY2026 DPU to 3.70 cents, supported by higher rental income, the acquisition of PLQ Mall, strong retail occupancy and rental reversions, alongside improved financing costs and a prudent 38.9% gearing ratio.
— *APAC Realty* 1H2026 Profit After Tax down 16% At S$9.4 Million; Recommends Special Dividend, Bringing Total Payout To 5.5 Singapore Cents Per Share
— *First Sponsor* Group reported a 1H2026 net loss of S$92.8 million on 11.2% lower revenue, but maintained its interim dividend and highlighted its strong financial position, supported by recent hotel and property acquisitions that position it for future growth.
— *UPL* delivered its seventh consecutive quarter of revenue and EBITDA growth, reporting a 10% revenue increase and 15% EBITDA growth in Q1FY27, while improving gearing, maintaining net debt, and reaffirming FY27 guidance of 7 to 11% revenue growth and 10 to 14% EBITDA growth despite macroeconomic headwinds.
— *HL Global Enterprises* reported a 10.0% decline in 1H 2026 net profit to S$406,000 despite 12.2% revenue growth, as higher operating expenses and lower other income offset stronger gross profit, although total comprehensive income rose 156% due to foreign currency translation gains.
https://links.sgx.com/1.0.0/corporate-announcements/7UY5HW7NN01XVH7W/898389_HLGE_June_Results.pdf
— *KORE US REIT* secures 10-year lease for 32,000 sq ft at The Westpark Portfolio
— *Koh Brothers Eco* is expected to report a net loss for 1H2026, mainly attributable to higher material and procurement costs incurred by the Engineering and Construction division, In addition, the Group incurred higher professional fees during the financial period. As a results, these higher costs contributed to a net loss and impacted the Group’s overall financial performance for 1H2026.
— *RH Petrogas* announced that it has completed all recommended governance and compliance enhancements arising from an independent review, including strengthening its whistleblowing, conflict of interest, anti bribery, disciplinary, and board governance frameworks.
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*Earnings Calendar:*
4 /8 - ParkwayLife REIT^, FSL Trust
5 /8 - CCT^, Capland Ascendas, CAREIT
6 /8 - DBS*, Manulife US REIT^, ACROPHYTE HT^, Venture, SGX, Avepoint, JustCo
7 /8 - OCBC^, UOB^, Elite UK REIT^, Netlink, BHG REtail, HL Finance, Ho Bee
11 /8 - SingLand, UOI, Frasers Propertty
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
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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