SGX Weekly Review | STI Rises 1%; Top Glove Surges 30%; Bumitama Agri Jumps 11%; Nio Gains 7%; Shangri-La HKD Falls 10%; AEM SGD Drops 9%
Singapore stocks rose this week, with the STI up 1%.
In terms of individual stocks, $Top Glove(BVA.SI)$ up 30%; $Bumitama Agri(P8Z.SI)$ up 11%; $TheHourGlass(AGS.SI)$, $CMS(8A8.SI)$ up 8%; $Shangri-La HKD(S07.SI)$ fell 10%; $AEM SGD(AWX.SI)$ fell 9%;
Market News
Top Glove Leads Rubber Glove Stocks Rebound on China-Led Price Hikes
Shares of Malaysian glove manufacturers rebounded on Monday, with Top Glove Corporation Bhd leading gains, as higher average selling prices (ASPs) initiated by Chinese producers lifted sentiment across the sector.
An analyst who declined to be named told The Edge the rally was driven by rising ASPs after Chinese manufacturers increased prices due to higher oil costs. Malaysian glove makers followed suit, raising prices to likely between US$27 and US$29, compared with US$23–24 for their Chinese peers.
However, the analyst cautioned that higher ASPs may not significantly boost earnings, as the increases largely reflect rising input costs rather than improved margins. The sector outlook remains neutral, weighed down by ongoing oversupply and intense competition from Chinese players.
NIO Deliveries Skyrocket 136% in March to 35,486 Units; Crosses 1M Cumulative Delivery Mark
NIO Inc. (NIO) delivered 35,486 vehicles in March, a 136.0% increase compared to the previous year.
For the first quarter of 2026, the company delivered a total of 83,465 vehicles, marking a 98.3% year-over-year growth.
As of March 31, 2026, cumulative deliveries reached 1,081,057.
The deliveries in March included 22,490 vehicles from NIO's premium brand, 6,877 from the family-oriented brand ONVO, and 6,119 from the small high-end brand FIREFLY.
On March 20, 2026, the NIO All-New ES8 reached its 80,000th delivery in 181 days, showing outstanding market success. It ranked No. 1 in China’s large SUV segment for three months across all energy types and prices. Its unique product features and high user demand help maintain its market leadership.
AEM Reports JPMorgan Chase Acquires Voting Shares Worth SGD 8.95 Million
JPMorgan Chase acquired 1,794,400 AEM Holdings voting shares on March 26, 2026.
Consideration paid was SGD 8.95 million.
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