Market Snapshot
Singapore stocks opened higher on Friday. STI rose 0.3%; Venture up 7%; SGX, OCBC Bank up over 2% on strong earnings; DBS rose slightly; UOB fell over 2%.
Stocks in Focus
$UOB(U11.SI)$: The lender on Friday said it recorded a S$1.48 billion net profit for its three months ended Jun 30, up 10 per cent year on year from S$1.34 billion. This was due to net fee income rising on record wealth management fees. The earnings slightly beat the S$1.45 billion consensus forecast in a Bloomberg survey of five analysts. It declared a dividend of S$0.88 per share for the period, down from S$1.10 per share paid out in the same year-ago period. UOB shares ended 1.2 per cent or S$0.52 higher at S$43.58 on Thursday.
$OCBC(O39.SI)$: The bank’s net profit for the three months ended Jun 30 stood at S$2.22 billion, up 22 per cent from S$1.82 billion in the same year-ago period, it said on Friday. This came on the back of a rise in non-interest income led by wealth management which more than offset a fall in net interest income amid softer rates. The earnings beat the S$1.91 billion consensus forecast in a Bloomberg survey of five analysts. An interim dividend of S$0.47 a share was declared, up from S$0.41 a share the year prior. The counter ended Thursday 2.5 per cent or S$0.70 higher at S$29.33.
$StarHub(CC3.SI)$: The telco and mobile virtual network operator MyRepublic on Thursday said they have expanded their partnership in the mobile segment by moving all subscribers of MyRepublic Mobile onto StarHub’s network. The move entails moving MyRepublic’s 4G customers off the current M1 network, following an agreement in 2022 for StarHub to provide a 5G network for customers of MyRepublic Mobile. StarHub acquired MyRepublic’s Singapore broadband business in its entirety in 2025. Shares of StarHub ended flat at S$1.09 before the news.
$Singapore Exchange(S68.SI)$ (SGX): The bourse operator on Thursday posted a 7.8 per cent rise in its FY2026 net profit to S$698.4 million, driven by gains across all operating segments. Net revenue rose 13.9 per cent to S$1.5 billion, and earnings per share increased to S$0.653. SGX said FY2026 marked a record year for both revenue and net profit. Shares of SGX rose 1.3 per cent or S$0.31 to close at S$24.32 on Thursday.
$Yangzijiang Shipbuilding(BS6.SI)$: The shipbuilder on Thursday posted a 28.4 per cent rise in H1 net profit to 5.4 billion yuan (US$800 million). This was mainly due to higher shipbuilding revenue from the progressive construction of vessels secured at higher contract prices, and a favourable shift in product mix towards ultra-large liquefied natural gas dual-fuel container ships and very large ethane carriers. Shares of Yangzijiang Shipbuilding closed S$0.02 or 0.5 per cent lower at S$3.94 before the announcement.
$Venture(V03.SI)$: The technology solutions provider posted a 10.3 per cent increase in net profit to S$63 million for its second quarter. Revenue for the quarter rose 12.5 per cent year on year to S$726.2 million, it said on Thursday. This brought net profit for the first half of 2026 to S$119.3 million, up 5.6 per cent. Revenue for the half year grew 7.4 per cent to S$1.4 billion. The counter closed 1 per cent or S$0.17 lower at S$16.21 before the announcement.
$JustCo(JCO.SI)$: The flexible workspace operator on Thursday anounced that its first-half net loss narrowed to US$839,000 from a loss of US$1.7 million. Excluding one-off expenses, the newly listed group’s H1 net profit after tax would have been about US$100,000. The GIC-backed company debuted on the SGX mainboard on May 22. Shares of JustCo closed flat at S$0.63 on Thursday.
SG Local News
Wealth Boom Propels Singapore Banks Seeing Better Times to Come
Singapore’s top lenders are riding a wealth management boom that has helped their second-quarter profit beat expectations as their stock prices also rally to record levels.
Wealth fees at DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. all jumped to record highs. DBS saw a 42% increase to S$919 million ($716 million), while those at OCBC rose by 44% and UOB’s by more than 29%. The performance helped to support earnings at a time when lending income is softer amid lower interest rates in the country.
The banks’ gains underscore rising flows from the rich into the city-state, which is vying with Hong Kong to attract wealthy clients amid the prolonged war in the Middle East and turbulence across the world. Their stock rallies have also boosted gains on the main equity benchmark that has risen more than 20% this year, outdoing the MSCI Asia gauge.
Record Financial Results for Singapore Exchange as IPO Queue Reaches 50 Firms in Different Preparation Phases
Singapore Exchange (SGX) has reported that its initial public offering (IPO) pipeline now includes roughly 50 companies, which are at "various stages of engagement and preparation." This announcement came alongside the bourse's disclosure on Thursday (Aug 6) of record revenue and net profit for the 2026 financial year, a period it described as "an exceptional year" for Singapore's stock market.
During SGX's FY2026 results briefing on Thursday, Pol de Win, the exchange's head of global sales and origination, highlighted that the IPO pipeline is becoming increasingly diversified. Approximately one-third of the potential issuers originate from the consumer and healthcare sectors, another third from technology, advanced manufacturing, and digital infrastructure, while around a quarter are real estate companies. The remaining issuers are drawn from a broad mix of industries.
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