SGX:ES3.SI:S&P 500
Wall Street closed on a high note Wednesday with the NASDAQ:QQQ:Nasdaq Composite rising nearly 1% to a record, boosted by NASDAQ:NVDA:Nvidia, which soared 2% and briefly crossed the $4 trillion market cap threshold—becoming the first company in U.S. stock history to do so. The SGX:ES3.SI:S&P 500 and INDEX:DJI:Dow Jones Industrial Average also posted solid gains, driven by optimism in AI and resilience in tech stocks despite renewed trade tension.
INDEX:DJI:Dow Jones Industrial Average
President Donald Trump announced a 50% tariff on Brazilian imports, citing retaliation for the ongoing legal proceedings against former President Jair Bolsonaro and complaints over the U.S.-Brazil trade imbalance. The tariffs are scheduled to begin August 1.
NASDAQ:QQQ:Nasdaq Composite
NASDAQ:NVDA:Nvidia became the first company to surpass a $4 trillion market cap after a 2.8% gain to $164.42. The AI chip giant now commands 7.5% of the SGX:ES3.SI:S&P 500, with its growth fueled by projected $350 billion in capital expenditure from NASDAQ:MSFT:Microsoft, NASDAQ:META:Meta Platforms, NASDAQ:AMZN:Amazon.com, and NASDAQ:GOOGL:Alphabet. Despite earlier volatility tied to China’s DeepSeek and U.S. tariffs, Nvidia has gained over 1,000% since 2023. Analysts expect further upside as the company prepares for the upcoming earnings season.
Federal Reserve minutes showed policymakers divided on interest rate cuts amid concerns over inflation from tariffs and labor market softness. Most officials still expect some rate reduction later this year.
COMEX:HG:Copper Futures
President Donald Trump announced a 50% tariff on copper to boost domestic production. Copper is essential to EVs, power grids, and defense hardware. While some tariffs are delayed to Aug 1, markets remain wary of escalating trade tensions.
NASDAQ:NVDA:Nvidia
Nvidia is preparing to launch a China-specific AI chip by September, according to reports. CEO Jensen Huang is expected to meet senior Chinese officials in a bid to strengthen the company’s presence and regulatory ties in the region.
NASDAQ:AAPL:Apple
Apple is set to unveil an upgraded version of its Vision Pro headset later this year, according to Bloomberg. The updated model will feature faster processors and improved AI-ready components to enhance performance and comfort.
NYSE:DOCS:Doximity
Evercore ISI upgraded Doximity to “Outperform,” raising its price target to $70. Analyst Elizabeth Anderson expects strong FY26 growth from its point-of-care and pharma units, projecting 5% upside to revenue estimates and potential $25 million EBITDA boost if performance exceeds guidance.
NYSE:K:WK Kellogg
WK Kellogg soared over 55% after reports emerged of a potential $3 billion buyout by chocolate maker Ferrero. Meanwhile, PTC dropped 3% after hours following a Bloomberg report that Autodesk is exploring a takeover—despite PTC having jumped 17% during regular trading.
NYSE:UBS:UBS Group AG
UBS says investors are stockpiling cash, ready to “buy the dip” amid tariff-driven volatility. In another note, the bank reaffirmed bullishness on U.S. stocks, citing tariff clarity, earnings growth, and resilient economic outlook. UBS expects the SGX:ES3.SI:S&P 500 to hit 6,500 by June 2026, a 4% gain from current levels.
NYSE:WFC:Wells Fargo
Wells Fargo Investment Institute warned that back-to-school shopping will be the first real test of consumer sensitivity to tariff-induced price hikes. Discretionary goods may need promotions to clear inventories if price elasticity proves weak.
HongKong:3115.HK:Hangseng Index
The HongKong:3115.HK:Hangseng Index closed 255 points lower. Shares of HK:9988.HK:Alibaba Group (BABA-W) sank more than 3%, while StarPlus Legend soared by 94% in a volatile session.
HK:0700.HK:Tencent
Tencent repurchased 1.005 million shares for HKD 500 million on Wednesday, continuing its aggressive buyback strategy to support share value.
HK:1177.HK:Sino Biopharmaceutical
Goldman Sachs raised the target price for HK:1177.HK:Sino Biopharmaceutical to HKD 6.19, citing the structural trend of out-licensing in China’s biopharma sector.
HK:0012.HK:Henderson Land
Citi expects HK:0012.HK:Henderson Land to face short-term weakness, with its dividend payout becoming a focal point for investors amid softening property market sentiment.
Bitcoin:BTC
Bitcoin surged past the US$112,000 mark for the first time, posting a new all-time high. The cryptocurrency gained about 3.1% intraday and is up nearly 19% year-to-date. Rising institutional interest and speculation around U.S. monetary policy are fueling the momentum.
NASDAQ:MSTR:MicroStrategy
Cryptocurrency-related stocks like NASDAQ:MSTR:MicroStrategy, a major Bitcoin holder, also climbed in tandem with the record-breaking BTC rally.
SGX:558.SI:UMS Holdings
SGX:558.SI:UMS Holdings, a Singapore-listed semiconductor precision engineering firm, will debut on KL:5580.KL:Bursa Malaysia via a secondary listing on August 1. UMS, led by CEO Andy Luong, plans to double its revenue within five years through automation, AI-linked capabilities, and aggressive capacity expansion in Malaysia. Its key clients include two U.S.-listed wafer fabrication giants (Customers A and H), contributing to over 70% of revenue. UMS has operations in Singapore, Penang, and California and is shifting more R&D work to Asia as demand climbs. Despite a recent dip in FY2024 revenue to $242 million, Luong remains bullish on hitting $500 million in coming years.
SGX:S7P.SI:Soilbuild Construction
SGX:S7P.SI:Soilbuild Construction recorded a 58.4% revenue jump in FY2024, securing its largest-ever contract — the $647.5 million PSA Supply Chain Hub @ Tuas. The group’s order book exceeds $1.2 billion, with precast and prefabrication now contributing 18% of total revenue. Soilbuild continues leveraging green credentials, automation, and BIM technology to win projects under Singapore’s sustainability-focused public tender framework. The firm declared a 3-cent total dividend and is targeting long-term growth in both public and private sectors.
SGX:S68.SI:Singapore Exchange (SGX)
SGX:S68.SI:Singapore Exchange is seeing strong momentum, with FY2025 net profit forecasted to hit $649 million. Securities turnover rose 28% y-o-y to $336.4 billion, while derivatives volume reached 315.8 million contracts. FX futures and commodities surged, with the USD/CNH contract up 45%. ETFs under management crossed $14 billion, and the Straits Times Index returned 25% with reinvested dividends. Analyst sentiment is positive, although Citi still maintains a “sell” call due to valuation concerns.
SGX:1E3.SI:Sanli Environmental
SGX:1E3.SI:Sanli Environmental raised $4 million from a private placement, marking its first equity fundraise since its 2017 listing. The funds will support EPC project execution and debt repayment, with Lion Global Investors and Asdew Acquisitions participating. CEO Sim Hock Heng says the placement is a vote of investor confidence.
SGX:F03.SI:Food Empire Holdings
SGX:F03.SI:Food Empire Holdings will invest US$37 million to expand its coffee manufacturing plant in India by 60% and build a new freeze-dried coffee facility in Vietnam by 2028. CEO Sudeep Nair sees this vertical integration as key to supporting its growing branded consumer business, which has driven four years of record revenue.
SGX:LCC.SI:Lum Chang Creations
SGX:LCC.SI:Lum Chang Creations, spun off from Lum Chang Holdings, has launched its IPO at 25 cents per share to raise up to $12.25 million. The urban revitalisation specialist has a post-IPO market cap of $78.75 million and is focused on heritage conservation and redevelopment in Singapore.
SGX:508.SI:Fuji Offset Plates Manufacturing
SGX:508.SI:Fuji Offset Plates Manufacturing will not proceed with a planned hospitality and property investment in Malaysia. Meanwhile, turnaround expert Lim Ah Cheng plans to invest in the company, acquiring a 16.7% stake pending shareholder approval. FOPM, known for its Super Coffee heritage, remains focused on its core printing business.
KL:5225.KL:IHH Healthcare
KL:5225.KL:IHH Healthcare is eyeing expansion in Indonesia and Vietnam to counter rising costs. CEO Prem Kumar Nair confirmed IHH plans to grow out-of-hospital care and expand hospital bed capacity by 33% through 2028. With operations in 10 countries and over 80 hospitals, IHH also plans to lobby for regulatory changes in Malaysia to allow integrated care. Q1 revenue rose 5.7% y-o-y to RM6.29 billion, although profits declined due to accounting adjustments.
NYSEARCA:UCO:Oil (ETF)
Oil prices were little changed Wednesday amid rising U.S. fuel demand and renewed Red Sea shipping attacks. Brent crude edged up 4 cents to US$70.19 per barrel, and WTI crude gained 5 cents to US$68.38. U.S. crude inventories rose by 7.1 million barrels, while gasoline demand jumped 6% to 9.2 million barrels per day. Meanwhile, the EIA trimmed its 2025 U.S. oil output forecast, adding support to prices.
Attacks by Yemen’s Houthi militia have resumed in the Red Sea, sinking two ships, reigniting concerns over global supply chains. OPEC+ is also raising production, with a 548,000 bpd increase in August. Despite this, UAE’s energy minister said inventories haven’t built up, showing demand remains strong.
KL:5253.KL:Econpile Holdings
KL:5253.KL:Econpile Holdings secured a RM27 million contract for piling work in Kelana Jaya from Bayu Melati Sdn Bhd. This follows a RM57.94 million win for a Selangor development last week. Its order book now stands at RM404 million.
KL:0249.KL:LGMS
KL:0249.KL:LGMS is acquiring a 27% stake in Antarex Holdings for RM22.68 million. The deal comes with a profit guarantee of RM24.5 million across FY2026–FY2028 and aims to extend LGMS’s cyber security reach across Southeast Asia.
KL:0293.KL:PMCK
KL:0293.KL:PMCK aims to raise its hospital bed occupancy to 70%-80% in FY2026 by keeping prices low. The operator of Putra Medical Centre in Alor Setar already enjoys high patient retention, with over 80% of patients returning.
KL:7052.KL:Ahmad Zaki Resources
KL:7052.KL:Ahmad Zaki Resources said subsidiary Ahmad Zaki Sdn Bhd was served a winding-up petition over a disputed RM5.86 million payment to Giga Engineering. AZRB will contest the petition and seek a Fortuna Injunction.
KL:7251.KL:Handal Energy
KL:7251.KL:Handal Energy is being sued for RM3.1 million by Seaoffshore Capital, a firm linked to former managing director Sunildeep Singh Dhaliwal. The loan was reportedly for working capital. Handal said it has a strong legal defense.
KL:0173.KL:Ecobuilt Holdings
KL:0173.KL:Ecobuilt Holdings’ unit Rexallent Construction faces a winding-up petition from Inflextec Engineering over an unpaid RM447,886 debt. Ecobuilt is seeking legal advice to contest the case ahead of the Sept 8 hearing.
KL:9944.KL:Rex Industry
KL:9944.KL:Rex Industry’s takeover offer by ETA Industries turned unconditional after its stake crossed 50%. CEO Lim Chin Hui and related parties now control 52.22% of shares and 39.18% of warrants. The offer remains open until July 25.
KL:1724.KL:Paramount Corp
KL:1724.KL:Paramount Corp’s subsidiary Paramount Property is collaborating with Cathay Pacific (HK:0293.HK) for a homebuyer campaign, offering up to 40,000 Asia Miles. Buyers of selected properties across Malaysia can redeem points for flights or Cathay rewards through year-end.
Top 10 STI Performers in H1 2025: Sembcorp, UOL, DFI Surge While Banks Lag Behind
Among the top 10 best-performing STI stocks for H1 2025, SGX-listed Sembcorp Industries, UOL Group, and DFI Retail Group each posted over 30% YTD gains. However, Singapore’s big three banks – SGX:D05.SI:DBS Group, SGX:U11.SI:UOB, and SGX:O39.SI:OCBC – ranked only 18th, 19th, and 20th, respectively.
1. SGX:S63.SI:ST Engineering
ST Engineering led the pack with a 72.3% YTD return, backed by strong Q1 contract wins totalling S$4.4 billion, pushing its order book to S$29.8 billion. Segments like aerospace and defense drove performance. It also announced a US$290 million divestment of its US-based unit and raised US$750 million in debt to fund future investments.
2. SGX:H78.SI:Hongkong Land
Hongkong Land surged 49.2% after selling part of One Exchange Square for HK$6.3 billion and initiating a share buyback programme. The developer is shifting focus to ultra-premium commercial properties across Asia’s gateway cities.
3. SGX:U96.SI:Sembcorp Industries
Sembcorp recorded a 33.6% gain, supported by new power project wins in India via its subsidiary Sembcorp Green Infra and strategic partnerships signed at the Singapore-Indonesia Bilateral Economic Meeting.
4. SGX:D01.SI:DFI Retail Group
DFI posted a 31.7% return despite Q1 profit dropping 18% due to divestments, including Yonghui Superstores and a stake in Robinsons Retail. DBS analysts upgraded the stock in June, citing a refocused strategy.
5. SGX:U14.SI:UOL Group
UOL gained 31.2% as it secured major land tenders and advanced residential projects, including a JV with Singapore Land and CapitaLand. Despite a 60% drop in net profit for H2 2024, revenue rose 16%.
6. SGX:J36.SI:Jardine Matheson
Jardine Matheson rose 26.9% in H1 despite lower full-year profits due to weaker contributions from subsidiaries like Zhongsheng and Hongkong Land.
7. SGX:Z74.SI:Singtel
Singtel bounced back with a 25.3% gain and returned to profitability, posting S$2.8 billion in H2 net profit. It launched a S$2 billion share buyback and incorporated new subsidiaries for cloud and digital services.
8. SGX:S68.SI:Singapore Exchange (SGX)
SGX gained 20.7% as it hosted several new listings, including Info-Tech Systems and Vin’s Holdings. NTT also filed for a landmark Reit listing, potentially the largest in a decade.
9. SGX:C38U.SI:CapitaLand Integrated Commercial Trust (CICT)
CICT returned 16.4% YTD. It completed the sale of a CapitaSpring component and posted a slight drop in Q1 revenue and property income, though maintaining resilience in Singapore’s retail REIT space.
10. SGX:BN4.SI:Keppel
Keppel saw a 16% increase, bolstered by sustainability-linked partnerships and board appointments. It joined forces with AIIB and Huawei on green infrastructure and announced asset monetisations worth over S$80 million.
SGX:D05.SI:DBS Group, SGX:U11.SI:UOB, and SGX:O39.SI:OCBC – despite being market heavyweights – missed the top 10, landing at 18th, 19th, and 20th respectively.
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