Market Snapshot
Singapore stocks opened higher on Thursday. STI rose 0.25%; DBS rose 1.2% after posting record Q2 profit; GLD US$ up over 3%; Top Glove, Thomson Medical up around 2%.
Stocks in Focus
$DBS(D05.SI)$: The local bank’s net profit for the three months ended Jun 30, 2026, stood at S$3.08 billion, up 9 per cent from the S$2.82 billion in the year-ago period. It rose as higher non-interest income – including a surge in wealth fees – more than offset a declining rate environment. Ahead of the results, shares of DBS closed 1.3 per cent or S$0.95 lower at S$73.55 on Wednesday.
$Keppel(BN4.SI)$: The asset manager and operator on Wednesday said that it has successfully hit S$2.1 billion in year-to-date monetisations, with the figure within Keppel’s target of S$2 billion to S$3 billion for 2026. The milestone was officially achieved following a conditional agreement to offload its 40 per cent equity interest in a waterfront and mixed-use development in Ho Chi Minh City, Vietnam. It will yield an aggregate cash consideration of about US$270 million. Shares of Keppel fell 0.4 per cent to close S$0.05 lower at S$11.21 on Wednesday, before the news.
$CapitaLand Ascendas Real Estate Investment Trust(A17U.SI)$ (Clar): The Reit on Wednesday posted a distribution per unit (DPU) of S$0.07482 for the first half ended June, up 0.1 per cent from S$0.07477 in the previous corresponding period. Distributable income rose 8.6 per cent to S$359.4 million, from S$331.1 million in the year-ago period. Units of Clar rose 0.8 per cent to close S$0.02 higher at S$2.57 on Wednesday, before the results.
$CapitaLand Ascott Trust(HMN.SI)$ (Clas) , $Coliwoo(W8W.SI)$: The trust on Thursday said it will acquire Coliwoo Midtown in Singapore at an agreed property value of S$134 million. It will allow co-living operator Coliwoo to realise the value of the asset while retaining full operational control, with lease payments to be funded from operating cashflows, said Coliwoo. The transaction is set to close in Q4 this year, where the trust will enter into a 10-year triple-net master lease with Coliwoo Midtown. Stapled securities of Clas ended 0.6 per cent or S$0.005 lower at S$0.865, while Coliwoo shares closed 1 per cent or S$0.005 on Wednesday.
$Centurion Accommodation Reit(8C8U.SI)$ (CAReit): The Reit on Wednesday reported a DPU of S$0.03499 for the half-year ended Jun 30, outperforming its initial public offering forecast by 9.6 per cent. Net property income stood at S$78.4 million, up 4.3 per cent from its forecast of S$75.2 million. Units of CAReit rose 0.9 per cent to close S$0.01 higher at S$1.16 on Wednesday, before the news.
$CSE Global(544.SI)$: The systems integrator on Wednesday said it had secured S$199.1 million in new orders for the second quarter ended Jun 30. Alongside its contract wins, the company said its strategic review, which began in March and could lead to a full sale of the company, was ongoing. Shares of CSE Global finished 1.6 per cent or S$0.02 down at S$1.26, before the news.
SG Local News
US Trade Measures Impact S$9.5 Billion of Singapore's Export Shipments, Says Minister Gan Kim Yong
Deputy Prime Minister Gan Kim Yong revealed on Wednesday (Aug 5) that approximately S$9.5 billion of Singapore's domestic exports to the United States are now subject to Washington's newly imposed 12.5% tariff. He noted that not a single economy among the 60 affected received a complete exemption from the measure.
This figure accounts for roughly one-third of Singapore's total domestic exports to the US. The impacted merchandise includes optical instruments and chemical products, while energy items, selected electronics, and aerospace goods have been granted an exclusion.
Pharmaceuticals and semiconductors are also exempt from the new tariff, as these categories are already subject to separate US Section 232 levies or ongoing investigations. When compared to the earlier 10% tariff rate, this latest policy is estimated to increase the overall effective tariff rate on Singapore's exports to the US by approximately 0.7 percentage points.
Singapore's June Retail Sales Climb 4%, Below Analyst Projections
Singapore's retail sales increased by 4% year-on-year in June, building on the 2.9% growth seen in May, according to data released by the Singapore Department of Statistics on Wednesday (Aug 5). This figure fell slightly short of the expectations of private-sector economists, who had predicted a median growth rate of 4.2% in a Bloomberg survey.
The majority of retail sectors experienced year-on-year sales growth in June. The strongest gains were driven by recreational goods, watches and jewellery, as well as computer and telecommunications equipment. When excluding motor vehicles, parts, and accessories, retail sales grew by 4.1%, an improvement from May's 3.6% expansion.
On a seasonally adjusted month-on-month basis, retail sales rose by 1% in June, reversing the 2.2% decline recorded in May. Excluding motor vehicles, parts, and accessories, retail sales edged up by 0.2% month-on-month, compared to a 1.7% contraction in May.
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