SG Morning Call | STI Opens 0.3% Lower; SGX Down 2.6%; Singtel, UOL, Seatrium, iFast, CityDev Down Around 1%; PanUnited, Haw Par up Nearly 2%
Market Snapshot
Singapore stocks opened lower on Monday. STI fell 0.3%; SGX down 2.6%; Singtel, UOL, Seatrium, iFast, CityDev down around 1%; PanUnited, Haw Par up nearly 2%.
Stocks in Focus
$Singtel(Z74.SI)$: Singtel-owned telecom carrier Optus experienced an outage on its network on Friday, which affected users across three states and disrupted some emergency services calls. The 76-minute technical glitch affected Optus voice calling services in parts of Victoria, South Australia, Tasmania states and the Northern Territory. Optus apologised on Saturday.
SG Local News
SGX Securities Trading Value Climbs 35% on Year in August on Retail Buying, STI Rally
The securities daily average value (SDAV) on the Singapore Exchange (SGX) jumped 35 per cent year on year in August to S$2.2 billion, driven by robust retail interest in real estate investment trusts (Reits) and the small to mid-cap stocks, alongside a record-breaking rally in the Straits Times Index (STI).
The total securities market turnover for the month rose 29 per cent year on year to S$43.3 billion, market statistics released by the bourse operator on Thursday (Sep 10) indicated.
On a month-on-month basis, SDAV grew 8 per cent in August. Retail investors actively bought price dips during the month, their participation expanding 22 per cent month on month in Reits, and by 11 per cent in small and mid-cap counters.
The Right To Buy a Car? In Singapore, It Will Cost You
Since the 1990s, residents of Singapore must bid for a limited number of certificates that confer the 10-year right to own a vehicle. As of September 2026, aspiring motorists have to cough up more than S$130,000 — equivalent to more than $102,000 — merely for the opportunity to buy a car and operate it for a decade. Add in the hefty taxes and fees that Singapore imposes on automotive purchases and you get some of the world’s more expensive rides: A mid-range Tesla Model Y can cost more than S$240,000, more than triple its price in the US.
With some six million people crammed into 287 square miles (less than a third the size of Jacksonville, Florida), Singapore is one of the densest countries in the world. As far back as 1971, when Singapore adopted its landmark Concept Plan, national leaders concluded that unfettered car ownership would be a disaster in such a land-constrained country. “That plan basically said cars will have to be limited in number and in their use. It was a spatial argument,” said Paul Barter, a Singapore-based transportation researcher.
DBS Wants to Be ‘Asian Bank for Asians’ Rather Than Global Bank: CEO Tan Su Shan
DBS, South-east Asia’s largest bank, will pursue growth within Asia rather than seek to become a global bank, with chief executive Tan Su Shan identifying wealth management, capital markets and trade as regional bright spots.
Asia “has a strong hand”, with growing capital markets, fast wealth creation, increasing trade, diversified demographics and strong artificial intelligence adoption, she said.
“We’re not a global bank, and I don’t think you’ll see us becoming a global bank like a Citi or HSBC – we want to be an Asian bank for Asians,” she noted on Friday (Sep 11), at a fireside chat organised by the Singapore Press Club.
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