The S&P 500 declined 0.39%, marking its third consecutive loss, mainly due to weakness in tech stocks. The Nasdaq fell 0.73%, while the Dow Jones edged up 0.11%.
Oil prices climbed (WTI around $103, Brent near $113), contributing to higher market volatility (VIX above 30). The S&P 500 is now more than 9% below its recent peak, approaching correction territory.
Fed Chair Jerome Powell indicated that inflation expectations remain stable, which helped ease concerns about immediate rate hikes. Treasury yields declined following his remarks.
The tech sector continued to struggle, with semiconductor stocks and companies like Micron seeing notable declines, while financials and utilities posted gains.
Amova emerges as substantial shareholder of Valuetronics after adding more shares at 88.7 cents each
Choo Chiang, Aspial Lifestyle receive approval-in-principle from SGX to transfer listings to Mainboard
The Assembly Place posts 6.4% increase in FY2025 earnings to $6.6 mil
TeleChoice bidding for data centre project in Malaysia
Global systems integrator NTT Data is looking to inject more of its global data centres into its Singapore-listed NTT DC Real Estate Investment Trust (Reit), as it ramps up its artificial intelligence (AI) expansion in Asia.
NTT Data chief executive officer Abhijit Dubey said the pure-play data centre Reit was designed to recycle capital by maximising value from stable assets such as data centres, and then deploying the proceeds into new ones.
OUE REIT is pursuing a capital recycling strategy, selling mature Singapore assets to reinvest in higher-yield opportunities (e.g., Australia) to boost returns. A key asset under review is One Raffles Place, potentially valued at S$2.3–2.4B; however, selling it could reduce ~30% of income in the short term.
OUE REIT is shifting from holding legacy assets to actively optimizing its portfolio to drive long-term returns.
Lendlease Global Commercial REIT’s equity raising was heavily undersubscribed (~62% take-up), as market turmoil from the Iran conflict hurt investor sentiment and pushed its price below the offer level.
Despite attractive acquisition fundamentals, poor timing and geopolitical uncertainty weakened demand, forcing underwriters to absorb unsold units.
CapitaLand Ascendas REIT is pursuing a larger fund-raising for acquisitions, but may face similar risks if market sentiment worsens.
Rising geopolitical tensions and oil prices increase inflation and interest rate risks, which are negative for yield-focused S-REITs.
Investors are becoming more cautious, with weaker appetite for equity fund-raising, even among large REITs.
Hong Kong stocks declined on settlement day, tracking weaker global markets: HSI −0.8%, HSCEI −0.65%, HSTECH −1.8%, with turnover at $285.4B.
Energy stocks were mixed: PetroChina rose with higher oil prices despite weaker profits, while CNOOC reversed early gains to close lower.
Aluminum and gold stocks surged amid geopolitical tensions (e.g., Iran-related conflict), while some resource stocks fell despite strong earnings.
Consumer-related sectors were weak: home appliance, retail, media, and textile stocks dropped notably, with some companies hit by declining profits and dividends.
Property stocks were mixed, with modest gains or slight declines despite varied earnings results.
Overall, market sentiment was cautious, with gains concentrated in commodities while most sectors faced pressure.
SUNNY OPTICAL Full-Year Net Profit RMB4.639 Billion, Up 71.9%; Final Dividend Doubled to HKD1.206
GCL Tech Narrows Full-Year Loss to RMB2.868 Billion; Adjusted EBITDA Turns Positive
CHINA RAILWAY Full-Year Net Profit RMB22.892 Billion, Down 17.9%; Final Dividend 8.6 Cents
CHINA DUTY FREE Full-Year Net Profit RMB3.644 Billion, Down 15.7%; Final Dividend RMB0.45
Midea Full-Year Net Profit Increases 14% to RMB43.945 Billion; Distributes RMB38 per 10 Shares
China Everbright Bank Full-Year Net Profit RMB38.826 Billion, Down 6.9%; Dividend of 70 Cents per 10 Shares
CHINA SHENHUA Full-Year Net Profit RMB54.218 Billion, Down 8.9%; Final Dividend RMB1.03
China Communications Construction Full-Year Net Profit RMB14.995 Billion, Down 37.1%; Final Dividend of RMB0.07729
COUNTRY GARDEN Achieves RMB3.261 Billion Net Profit for Full Year, Turns Loss into Profit
SHANGHAI IND H Full-yr NP $2.02B, Down 28.1%; Final & Spec. DPS Total HK70 Cents
ABC Annual NP RMB291.041B, Up 3.2%; Final DPS Hikes to RMB13 Cents
HK TECH VENTURE Annual Loss Widens to HK$150M
Vantris Energy returned to operating profit (RM142.4m) from a prior loss, aided by lower costs and impairments, signaling progress toward exiting PN17, though net profit and revenue declined.
Crescendo Corp saw profit drop sharply despite higher revenue due to rising costs and subsidiary losses, but remains optimistic on Johor’s property outlook.
Kawan Renergy posted solid growth (+17% profit, +51% revenue), driven by renewable energy, though cautious on geopolitical risks.
Bumi Armada plans a major capital reduction (RM1.95b) to clean up losses and strengthen its balance sheet.
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