As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,4426.93 points, up 1.62% points last week.
During the last 5 trading days, $SINGTEL 10(Z77.SI)$, $Delta TH SDR(TDED.SI)$, $Singtel(Z74.SI)$, $Siam Cement TH SDR(TSCD.SI)$ and $NIO Inc.(NIO.SI)$ are the top 5 weekly gainers, up 6.51%, 6.48%, 6.46%, 6.21% and 5.87% respectively.
$IFAST(AIY.SI)$, $Shangri-La HKD(S07.SI)$, $DFIRG USD(D01.SI)$, $Riverstone(AP4.SI)$ and $Top Glove(BVA.SI)$ are top 5 decliners of SGX stocks which market capital above S$1 Bln.
Below are key analyses of the TOP 5 gainers:
1. $SINGTEL 10(Z77.SI)$
Singtel and SK Telecom have pioneered the world’s first GPU-as-a-service offerings provided by telecom companies. The two Asian operators have made a series of announcements to position themselves in this rapidly growing AI-driven market.
Singtel has entered into an agreement with Norway-based AI cloud platform provider Nscale to share data center resources, enabling the execution of customer workloads across their regions. This collaboration extends their GPU-as-a-service offerings on a global scale.
Additionally, Singtel and Hitachi have announced a new partnership to jointly develop AI-driven data centers and offer advanced cloud services in Japan.
2. $Delta TH SDR(TDED.SI)$
According to reports, Delta Electronics has signed a deal to acquire power inductor and powder materials assets from Alps Alpine Ltd and its subsidiary Alps Electric Korea Co. for US$71 million. The assets involved include Alps' production and research equipment, as well as patents and intellectual property.
Furthermore, last week Delta participated in the Taipei International Industrial Automation Exhibition 2024, themed "Charting the Path to Smart Green Manufacturing," where the company showcased its next-generation digital green factory solutions aimed at low-carbon manufacturing.
3. $Singtel(Z74.SI)$
The $Singtel(Z74.SI)$ is also a share of Singapore Telecommunications Ltd, but there may be slight differences in the specific trading restrictions. For more news regarding the company, please refer to the $SINGTEL 10(Z77.SI)$ section mentioned above.
4. $Siam Cement TH SDR(TSCD.SI)$
The Siam Cement Public Company Limited is an industrial firm with segments including SCG Cement and Green Solutions Business, SCG Smart Living Business, SCG Distribution and Retail Business, SCG Decor (SCGD), Chemicals Business (SCGC), and Packaging Business (SCGP).
Last week, Siam Cement Public Company Limited (SCC) announced that its subsidiary, SCG Packaging Public Company Limited (SCGP), has disclosed to the Stock Exchange of Thailand details regarding the acquisition of additional shares in PT Fajar Surya Wisesa Tbk (Fajar). This transaction represents 1.75% of the total assets reported in SCC’s consolidated financial statements as of June 30, 2024. When combined with previous transactions over the past six months, the total size amounts to 1.78%.
Additionally, Siam Cement announced last week that the Board of Directors has approved the appointment of a new SCG Executive due to a reorganization of the company structure, with the change taking effect from 1 September .
5. $NIO Inc.(NIO.SI)$
NIO Inc.'s stock price has risen ahead of its upcoming financial report, gaining nearly 6% last week. On 30 August, NIO announced that its "6 Series" SUV models—ES6 and EC6—have reached a cumulative delivery total of 300,000 units, with the ES6 contributing 220,877 units and the EC6 79,123 units.
Since the introduction of the new Battery-as-a-Service (BaaS) policy in March, over 70 percent of users have opted for the battery rental service, according to Nio co-founder and president Qin Lihong, who shared this update during a press briefing at the Chengdu Auto Show, as reported by CnEV Post.
NIO also revealed that from May to July this year, its monthly vehicle deliveries were 20,544, 21,209, and 20,498 units respectively, marking three consecutive months of exceeding 20,000 deliveries. Qin Lihong commented that while achieving a monthly delivery volume of 20,000 units came later than expected, it is now a necessary milestone for NIO.
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