S&P 500 futures were mostly unchanged Wednesday night after both the S&P 500 and Nasdaq Composite reached record highs during the regular session. Futures on the S&P 500 dipped 0.1%, Nasdaq 100 futures were flat, and Dow Jones futures fell by 173 points (0.4%) .

Earlier in the day, markets rallied to record levels after President Donald Trump extended the U.S.–Iran ceasefire. The S&P 500 gained 1.05%, the Nasdaq rose 1.64%, and the Dow added 340 points.

• IBM fell despite beating earnings due to unchanged guidance.
• Tesla rose on strong earnings, though revenue slightly missed forecasts.
• Texas Instruments surged 10% on strong outlook.
• United Rentals jumped over 15% after raising its forecast.
• ServiceNow dropped sharply on outlook concerns.
• Southwest Airlines and Knight-Swift declined after weaker results, while Lam Research and Churchill Downs posted modest gains.

In after-hours trading, IBM and ServiceNow led declines, dropping about 6% and 13% following their earnings reports. Tesla shares rose roughly 4% after beating first-quarter earnings expectations.

Nanofilm’s 1QFY2026 revenue up 24% y-o-y to $55 mil

Keppel to divest i12 Katong for $372 mil

Digital Core REIT’s 1QFY2026’s distributable income was unchanged y-o-y

Kingsmen Creatives wins $80.8 mil contract from Genting Singapore

IPO of Kin Global is approximately four times oversubscribed

Demand for the placement tranche was strong, with indications of interest totaling 69,550,500 shares—about 2.9 times the number available.

The IPO attracted notable institutional backing, including Lion Global Investors, as well as prominent individual investors such as Han Seng Juan and Ang Hong Guan. It also secured cornerstone investors like Amova Asset Management, Apricot Capital, Asdew Acquisitions, and Ginko-AGT Alpha Fund VCC.

SAC Capital is acting as issuer manager, sponsor, underwriter, and placement agent, while Maybank Securities and Moomoo Financial Singapore are serving as sub-placement agents.

Kin Global’s executive chairman, Ko Chee Wah, said the strong response from both institutional and retail investors highlights confidence in the company’s growth prospects. SAC Capital COO Tan Kian Tiong added that the demand reflects Kin Global’s solid fundamentals, unique market positioning, and compelling growth strategy.

The company is scheduled to begin trading on the Catalist board at 9 a.m. on Thursday, April 23.

Oiltek said on Wednesday (Apr 22) that it will continue to actively review its capital structure to support trading participation, after a shareholder raised concerns that its high share price could dampen liquidity and momentum. The stock has surged more than 250% year-to-date, likely driven by higher oil prices linked to Middle East tensions.

The company noted it had already undertaken a bonus issue of two shares for every existing share in May 2025. It added that any further capital structure decisions will depend on share price performance, market conditions, and overall strategy.

Oiltek was responding to queries from shareholders and the Securities Investors Association (Singapore) ahead of its Apr 28 AGM.

On its proposed secondary listing on Bursa Malaysia, Oiltek said the move is aimed at growth and is not tied to its current valuation or trading activity on the Singapore Exchange. Instead, the listing is intended to broaden its investor base, improve liquidity, and provide additional fundraising avenues.

The company added that Malaysia is a natural fit given its long-standing operations there and investor familiarity with its industry. The plan remains subject to approvals and market conditions.

Rising energy prices linked to the Iran conflict are unlikely to harm Bumitama Agri and may even benefit its business, despite some cost pressures from fuel and fertilisers, which make up about 10% of production costs. The company noted that palm oil prices generally move in tandem with energy prices, as palm oil is a key input for biofuels, meaning higher oil prices can boost biodiesel demand and support prices. With about 25% of global palm oil output now used for energy, this structural demand trend could further support performance. Instead of using financial hedging, Bumitama manages price risk through selective forward sales—capped at 40% of production and up to six months—allowing it to balance stability with the opportunity to benefit from favorable market prices

Three independent non-executive directors of City Developments Limited—Jennifer Duong Young, Daniel Marie Ghislain Desbaillets, and Wong Ai Ai—have resigned from the board of its hotel arm, Millennium & Copthorne Hotels, after helping strengthen governance there. The company said their departure will not affect operations, as they will focus on their roles at CDL. The move follows a turbulent period marked by a high-profile dispute between executive chairman Kwek Leng Beng and group CEO Sherman Kwek over board control, which included allegations of an attempted coup and concerns about external influence; the conflict was ultimately resolved in March 2025 when the elder Kwek withdrew his lawsuit.

China’s struggling property market appears to be at a turning point, which could drive the nation’s stocks to outperform other emerging markets, according to JPMorgan Chase & Co.

Rajiv Batra, a strategist at JPMorgan, highlighted that the recovery in Hong Kong’s real estate market is spreading to major mainland cities, and the rebound in Chinese stock prices is boosting housing demand. Recent housing data supports this optimistic outlook, showing that the decline in new-home prices slowed in March, marking the smallest drop in nearly a year. Additionally, prices for used homes increased in 13 mainland cities, the largest rise in almost three years.

Hong Kong equities declined, with the Hang Seng Index falling 1.2% to 26,163, while the Hang Seng China Enterprises Index dropped 1.6% and the Hang Seng TECH Index slid 1.9%, amid total market turnover of HK$228.3 billion.

PETRONAS Chemicals Group plans to prioritise domestic supply in 2026 to ensure stability amid West Asia conflict disruptions, while United Plantations reported margin pressure from rising input costs despite higher revenue, with profits slightly declining. Meanwhile, JAG Capital and Kumpulan Jetson are divesting non-core assets to streamline operations, while Samchem Holdings is expanding capacity through a long-term land lease. On the contracts front, Willowglen MSC secured a maintenance deal in Singapore. In the property sector, CapitaLand Malaysia Trust, AmFirst REIT, and AME Real Estate Investment Trust posted improved earnings driven by new assets, higher occupancy, and rental growth, though cost pressures remain a concern across industries.