Last Week's Recap
1. The US Market - Show Slight Pullback on Geopolitical Tensions:
-
Slight pullback: the $S&P 500(.SPX)$ (-0.35%, 6,915.61), the $Dow Chemical(DOW)$ (-0.53%, 49,098.71), and the $NASDAQ(.IXIC)$ (-0.06%, 23,501.24)posted fractional declines for the second week in a row.
-
Geopolitical tensions: International tensions over Greenland and the related prospect of tariffs were the key catalysts for Tuesday’s tumble around 2%.
-
Metals dazzle: Precious metals prices are extending rallies again. Gold is trading above $5000 per ounce, while silver surpassed $100 per ounce for the first time.
-
U.S. GDP upgrade: The government’s updated figure put the quarter’s annual GDP growth rate at 4.4%, up from a previous estimate of 4.3%.
-
Sticky inflation: Core inflation as measured by the Personal Consumption Expenditures Index was 2.8% in November—above the Fed’s long-term 2.0% target.
-
Earnings update: As of Friday, analysts projected that earnings for $S&P 500(.SPX)$ companies rose 8.2% in the fourth quarter versus an 8.0% estimate after the opening week of earnings season.
-
Fed pause ahead? Markets implied a 97% probability that the Fed would keep rates unchanged, according to CME FedWatch.
2. The US Sectors & Stocks - Tech and semiconductors Lead Market movements amid earnings reports
Sectors: Basic materials and energy sectors outperformed this week, supported by strength in metals and mining. Semiconductor stocks showed divergent performance, with Micron and Sandisk posting sharp gains on strong earnings and improving memory cycle expectations, while Intel lagged on weak earnings guidance and ongoing supply chain concerns, weighing on the technology sector.
-
$Micron Technology(MU)$ surged 20.76%, supported by strong earnings, upbeat guidance, and accelerating demand for AI-related memory products.
-
$Moderna, Inc.(MRNA)$ surged 16.45%, driven by positive clinical trial results and improving earnings expectations.
-
$SanDisk Corp.(SNDK)$ increased 14.56%, driven by improving memory market conditions and expectations for a cyclical recovery in NAND pricing.
-
$SPDR Gold ETF(GLD)$ rose 7.45%, on safe-haven demand and falling real yields amid expectations of easing monetary policy.
-
$Tesla Motors(TSLA)$ rose 2.89e0d;color:#389e0d">64%, on optimism surrounding its robotaxi initiatives and ahead of its upcoming earnings release this week.
-
$Procter & Gamble(PG)$ increased 3.89% , supported by stronger-than-expected EPS despite a slight revenue miss.
-
$Intel(INTC)$ fell 4.02%, weighed down by weak earnings guidance and ongoing supply chain issues.
-
$Netflix(NFLX)$ declined 2.14%, as cautious Q1 revenue guidance and the suspension of share buybacks overshadowed solid Q4 earnings results.
-
$JPMorgan Chase(JPM)$ declined 4.72%, amid legal uncertainty and cautious sentiment toward financial stocks.
-
$GE Aerospace(GE)$ dropped 9.61% , despite strong Q4 results, as profit-taking weighed on the stock.
-
$Microsoft(MSFT)$ rose 1.32%, supported by strong Q2 FY2026 earnings and continued growth in AI and cloud revenues, ahead of its upcoming earnings release this week.
-
$Meta Platforms, Inc.(META)$ gained 6.21%, driven by strong call option activity and improving earnings expectations ahead of its earnings report this week.
-
$Apple(AAPL)$ edged up 0.9%, supported by positive earnings expectations and recent product developments, with the company set to report earnings this week.
3. Hong Kong Market - HSI sees a slight decline amid mixed sector performances
$HSI(HSI)$ : experienced a slight decline of 0.36% and closed at 26749.51 last week.
$HSTECH(HSTECH)$ : experienced a slight decline of 0.42% and closed at 5798.01. The technology sector faced downward pressure, while new consumption stocks showed resilience, contributing to market volatility.
-
$XIAOMI-W(01810)$ increased by 2.95%, supported by a HK$2.5 billion share repurchase plan and positive sentiment surrounding its new product launches.
-
$POP MART(09992)$ increased by 5.05%, supported by strong buying interest and the continued popularity of its newly launched IP products.
-
$LAOPU GOLD(06181)$ increased by 6.78%, supported by record-breaking gold prices and robust terminal sales performance.
-
$TCL ELECTRONICS(01070)$ Electronics surged by 24.77% following the announcement of a strategic partnership with Sony, aiming to enhance its competitiveness in the high-end market through joint ventures in home entertainment.
-
$QUNABOX GROUP(00917)$ rose by 21.41% as the company projected a significant financial turnaround, expecting net profits of up to 330 million yuan, reversing previous losses.
-
$GIGADEVICE(03986)$ saw a remarkable increase of 16.1%, driven by strong demand in the semiconductor market and strategic expansions in AI infrastructure.
-
$SMIC(00981)$ experienced a decline of 1.39%, as geopolitical tensions and supply chain challenges weighed on the stock.
-
$CGII HLDGS(01940)$ increased by 23.71%, supported by the renewal of key supply agreements and recovering demand in the industrial gas sector.
-
$DA SEN HLDGS(01580)$ increased by 33.33%, supported by speculative momentum and positive sentiment surrounding its strategic acquisition plans to upgrade production facilities.
-
$SUCCESS DRAGON(01182)$ increased by 38.33%, supported by a significant financial turnaround as the company reported a shift from net loss to profit in its latest interim results.
4. Singapore Market - STI Index climbs 0.9% amid positive market sentiment
$Straits Times Index(STI.SI)$ : The Straits Times Index (STI) rose by 0.9% and closed at 4891.45 last week, driven by gains in major banks and a stable inflation outlook.
Sectors: Banking and Precious Metals significantly outperformed last week, bolstered by strong institutional growth and record-breaking global gold prices. Consumer Discretionary and Technology SDRs also saw robust gains driven by corporate buybacks and AI-related optimism; in contrast, Aerospace & Defense MRO and Exchange Services lagged the broader market.
-
$OCBC Bank(O39.SI)$ saw a 4.16% increase, bolstered by the establishment of a new securities financing unit aimed at institutional clients, enhancing its market position.
-
$UOB(U11.SI)$ experienced a significant 7.51% rise, contributing to the overall market uplift, as investors showed confidence in the bank's performance.
-
$ST Engineering(S63.SI)$ stock decreased by 2.5% despite securing a five-year MRO contract with LOT Polish Airlines, as the market weighed the long-term benefits of the deal.
-
$SGX(S68.SI)$ saw a minor decline of 1% as it proposed reducing the board lot size for high-priced securities, a move aimed at increasing market accessibility.
-
$Laopu Gld HK SDR 50to1(HLPD.SI)$ increased 20%, driven by a historic rally in global spot gold prices approaching US$5,000 per ounce, which fueled investor demand for the company’s premium heritage gold products and safe-haven assets.
-
$Delta TH SDR 1to1(TDED.SI)$ rose 17.24%, tracking the strong performance of its parent company in Thailand amid renewed optimism over AI data center expansion and robust demand for power supply components.
-
$POP MART HK SDR 20to1(HPPD.SI)$ surged 22.3%, catalyzed by the announcement of its first share buyback since 2024 on January 19, signaling strong management confidence and triggering a wave of short covering.
-
$CNMC Goldmine(5TP.SI)$ increased 8.62%, buoyed by the surge in gold prices to record highs and increased trading volume, which improved the outlook for the company's unhedged gold production revenue.
-
$SouthernAlliance(QNS.SI)$ climbed 10.87%, bolstered by the resumption of operations at its associate MCRE Resources following the lifting of government suspension orders, effectively removing a key regulatory overhang for the company.
5. Australian Market - XJO index declines while metals and consumable fuels surge
$S&P/ASX 200(XJO.AU)$ : The S&P/ASX 200 Index (XJO) declined 0.49% and closed at 8860.10. The market was influenced by escalating geopolitical tensions, particularly the tariff disputes initiated by the US against European countries.
Sectors: Commercial Printing, Semiconductors, Silver, Real Estate, Precious metals, and miners were the top 5 winners by industry, and Coal and consumable fuels surged.
-
$333D(T3D.AU)$ added 23.36%. The 3d printing and digital asset management company surge is likely driven by technology sector momentum and potential contract developments in healthcare imaging services.
-
$WEEBIT NANO LTD(WBT.AU)$ +22.2%, Weebit taped out test chips featuring its embedded ReRAM module at onsemi's 300mm production fab in New York, representing a critical step toward volume production. Its Q1 FY26 cash receipts reached $7.3M, a 62% increase in a single quarter compared to $4.55M for the entire FY25 year
-
$SILVER MINES LTD(SVL.AU)$ rose 17.07% & Sun Silver Ltd (SS1 AU) increased 14.29%. Benefited from silver prices reaching all-time highs during the week.
-
$MANUKA RESOURCES LTD(MKR.AU)$ +27.72%, Austral Gold Limited (AGD AU) +18.18%, and Southern Palladium Limited (SPD AU) surged 11.74%. Significant gains driven by the precious metals rally, with both gold and silver hitting record highs during last week.
-
$OMNI BRIDGEWAY LTD(OBL.AU)$ rose 11.5%, a global litigation funder and dispute resolution finance provider. Gains are attributed to increased market volatility, creating more litigation opportunities and strong case portfolio performance.
-
$PALADIN ENERGY LTD(PDN.AU)$ increased 19.8%. Uranium mining company with the Langer Heinrich Mine in Namibia. Strong December-quarter production results showing mid-teens quarter-over-quarter growth, with FY26 output tracking toward the upper end of 4.0-4.4 million pounds guidance range.
-
$A2 MILK CO LTD(A2M.AU)$ experienced a significant drop of 12.98% over the week. The Infant formula and dairy nutrition company faced a temporary trading halt on the ASX due to the market uncertainty from escalating US tariff tensions declared by President Trump, negatively impacting New Zealand and Australian dairy exporters.
The Week Ahead
1. Macro Factors: January26-30
Monday: Durable goods, U.S. Census Bureau
Tuesday: Consumer Confidence Index, The Conference Board
S&P Cotality Case-Shiller 20-City Composite Home Price NSA Index
Wednesday: U.S. Federal Reserve Board concludes two-day policy meeting, Chair Jerome Powell holds press conference
Thursday: Trade balance, U.S. Census BureauWholesale inventories,
U.S. Census Bureau: Factory orders,
U.S. Census Bureau: Weekly unemployment claims,
U.S. Department of Labor
Friday: Producer Price Index, U.S. Bureau of Labor Statistics
2. Earnings Spotlight: UNH ASML TSLA MSFT META
This week marks the "Super Earnings Week", and its outcomes will directly set the tone for the market's growth logic in 2026. It is recommended to focus on AI investment returns, demand for advanced semiconductors, and the resilience of consumer credit.
Healthcare & Semi-Cap Foundations: $UnitedHealth(UNH)$ , $ASML Holding NV(ASML)$
-
$UnitedHealth(UNH)$: Markets are watching for medical cost ratio (MCR) stability and how the giant manages rising utilization rates in a post-pandemic landscape.
-
$ASML Holding NV(ASML)$: An essential pulse-check on the semiconductor supply chain; focus is on net bookings for EUV machines and 2026 revenue guidance as chipmakers transition to 2nm nodes.
The "Magnificent" AI & Cloud Pulse: $Microsoft(MSFT)$ , $Meta Platforms, Inc.(META)$
-
$Microsoft(MSFT)$: Investors will zoom in on Azure growth driven by AI integration and whether the massive capital expenditure is translating into accelerated software revenue.
-
$Meta Platforms, Inc.(META)$ : Focus remains on ad-targeting efficiency via AI and any signals regarding "Reality Labs" spending versus the core family-of-apps profitability.
Consumer Growth & Tech Innovation: Tesla (TSLA), SoFi Technologies (SOFI)
-
$Tesla Motors(TSLA)$: Looking beyond car deliveries to focus on automotive gross margins, FSD (Full Self-Driving) adoption rates, and updates on the next-gen affordable platform.
-
$SoFi Technologies Inc.(SOFI)$: A key indicator for the digital banking sector; markets will track loan origination volume and the path toward sustained GAAP profitability.
Industrial & Tech Titans: $Boeing(BA)$ , $Apple(AAPL)$ , $Intel(INTC)$
-
$Boeing(BA)$ / $Apple(AAPL)$ : Critical updates on aerospace production stability (BA) and global consumer hardware demand (AAPL) amidst shifting macroeconomic headwinds.
-
$Intel(INTC)$ : The focus continues on the success of the "foundry-first" strategy and AI-PC market share gains.
For SG users only, welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
Comments