Deals, Debt Moves & EM Optimism: Singapore & Global Heavyweights Make Headlines
SGX:S27.SI:S&P 500
The S&P 500 closed at a record high, up 0.36% to 6,740.28, as deal optimism kept the rally intact.
US:QQQ:Nasdaq Composite
The Nasdaq Composite notched a record close, rising 0.71% to 22,941.67 on AI enthusiasm and tech strength.
US:DGT:Dow Jones Industrial Average
The Dow slipped 63.31 points (-0.14%) to 46,694.97, weighed by weakness in Sherwin-Williams and Home Depot.
US:AMD:Advanced Micro Devices
AMD surged nearly 24% after striking a multiyear AI chip pact with OpenAI that could grant the ChatGPT maker a 10% equity stake, powering sentiment across large-cap tech.
US:NVDA:Nvidia
Nvidia eased about 0.9% as investors digested AMD’s OpenAI deal and rotated within the chip cohort.
US:FITB:Fifth Third Bancorp
Fifth Third agreed to acquire Comerica in an all-stock deal valued at $10.9 billion, fueling consolidation hopes across regionals; the SPDR S&P Regional Banking ETF rose about 1%.
US:BAC:Bank of America
Bank of America’s Ebrahim Poonawala called the Fifth Third–Comerica tie-up a low-risk, scale-adding transaction supportive of returns.
US:WFC:Wells Fargo
Wells Fargo’s Mike Mayo said more bank M&A is likely in a friendlier regulatory backdrop, flagging potential interest in names such as First Horizon and Banc of California.
US:APP:AppLovin
AppLovin tumbled after reports of an SEC probe into its data-collection practices.
US:EAT:Brinker International
Brinker was upgraded to Buy by Bank of America, which cited a Chili’s turnaround driving better operations, marketing and traffic.
US:BTC:Bitcoin
Bitcoin hit a fresh all-time high above $126,000 as investors shrugged off the ongoing U.S. government shutdown.
US:NEE:NextEra Energy
NextEra Energy broke out from a multi-year triangle with technical momentum signals pointing to continued relative strength, aided by AI-linked power demand tailwinds for utilities.
US:HOOD:Robinhood
Robinhood slipped modestly despite a strong tech tape, as speculative pockets—alongside ARK Innovation ETF (ARKK) and other momentum plays—showed mixed action.
US:AAPL:Apple
OpenAI opened DevDay with new developer tools and a closing chat featuring Jony Ive, while its infrastructure deals span AMD, Nvidia and Oracle.
US:QQQ:Nasdaq 100 Futures
U.S. equity futures were little changed after record closes, with investors eyeing Fed speeches and minutes amid a data blackout from the shutdown.
US:PEP:PepsiCo
Earnings watch: Investors geared up for PepsiCo results later in the week as reporting season begins to ramp.
US:DAL:Delta Air Lines
Earnings watch: Delta Air Lines is also due to report, offering an early read on travel demand.
US:JPM:JPMorgan Chase & Co.
JPMorgan turned more constructive on Eurozone equities, upgrading the region to overweight while noting relative underperformance versus U.S. benchmarks.
US:STZ:Constellation Brands
Constellation Brands jumped in late trading after topping revenue and EPS estimates, even as full-year guidance remained tempered by macro headwinds.
US:AEHR:Aehr Test Systems
Aehr Test Systems fell after hours as management refrained from reinstating formal guidance amid tariff uncertainties despite a revenue beat.
US:COPS:Copper
Copper extended a strong rally as investors leaned into reflation and AI-infrastructure themes, alongside higher global yields.
US:TFC:Truist Financial
Truist Wealth’s Keith Lerner favored hedging mega-cap exposure with small caps, while maintaining that the AI-driven bull market remains intact despite potential hiccups.
US:BUZZ:VanEck Social Sentiment ETF
Speculative sub-themes from drones to meme-stock proxies like BUZZ stayed active amid record call-option volumes and persistent dispersion beneath the big-cap indexes.
SGX::ASL Marine Holdings
ASL Marine seeks to raise S$7 million via a placement at S$0.1703 per share to bolster finances.
SGX:CHZ.SI:HRnetGroup
HRnetGroup raised nearly S$7 million through the placement of treasury shares at S$0.714 each.
SGX:AWI.SI:Thakral Corporation
Thakral will recognise about S$28.5 million from The Beauty Tech Group’s IPO on the London Stock Exchange, after partially divesting and revaluing its retained stake.
HK:00005.HK:HSBC Holdings
HSBC reported EM fund managers are the most optimistic since early 2021, with survey respondents citing a shift away from U.S. assets and improving China growth as supports.
US:GS:Goldman Sachs Group
Goldman Sachs strategists said emerging economies are “thriving, not just surviving,” noting better-than-expected 2025 growth alongside renewed EM inflows.
US:UBS:UBS Group
UBS Asset Management highlighted early-stage renewed demand for EM debt, while flagging room for volatility as flows recover.
SGX:D03.SI:Del Monte Pacific
Del Monte Pacific is weighing a US$500–600 million share placement—primarily at subsidiary Del Monte Philippines Inc.—to cut debt and reduce financing costs following U.S. unit losses.
KL:4456.KL:Dagang NeXchange Bhd
DNEX expanded its energy footprint: unit OGPC Sdn Bhd won a one-year contract from Petronas Dagangan Bhd to maintain 50 PETRONAS stations in the Klang Valley from Jul 1, 2025, while Ping Petroleum Sdn Bhd secured Petronas Malaysia Petroleum Management approval for its field development and abandonment plan in the Greater Abu area. :contentReference
KL:6947.KL:CelcomDigi Bhd
CelcomDigi Mobile Sdn Bhd received a notice of arbitration from IMMA Technology Sdn Bhd over a 2022 services agreement; IMMA claims RM72.59m in alleged loss of profit, or alternatively RM28.28m for purported wasted expenditure.
KL:4235.KL:Lion Industries Corporation Bhd
Lion Industries outlined plans to revitalise its steel business, seeking strategic partners for its Amsteel Mills plants in Banting and Bukit Raja while affirming steel remains core and the mills will not be shut except for upgrades.
KL:7245.KL:Citaglobal Bhd
Citaglobal formalised a two-year joint development agreement with Keppel Decarb (Malaysia) Sdn Bhd to develop bio-compressed natural gas projects in Pahang, Kelantan and Terengganu; Citaglobal Bioenergy Sdn Bhd will handle biogas supply, capture facilities, approvals and land matters.
KL:0372.KL:Cheeding Holdings Bhd
Ahead of its ACE Market debut, Cheeding won a RM33.94m Tenaga Nasional Bhd contract to build a power-supply link for a Johor data centre; the job took effect Oct 2 with a 240-day timeline.
KL:7097.KL:Ta Win Holdings Bhd
Ta Win said the 2022 deal to sell a substantial stake in Royce Pharma Manufacturing was mutually terminated after buyers Jelita Serbaneka Sdn Bhd and Poly Laboratories Sdn Bhd failed to secure financing.
KL:0175.KL:HHRG Bhd
HHRG proposed a bonus issue of up to 491.68m warrants on a two-for-five basis; warrants are issued at no cost, with future proceeds dependent on exercises. Major holders include Cfamillie Holdings Sdn Bhd and GH Consortium Sdn Bhd.
HK:00005.HK:HSBC Holdings
HSBC said EM fund managers are the most optimistic since early 2021, citing shifts from U.S. assets and improving China growth.
US:UCO:Oil
Oil benchmarks firmed while a softer dollar and expected global rate cuts supported commodity-linked assets.
US:BTC:Bitcoin
Safe-haven interest persisted alongside gold and select EM FX amid dovish-leaning U.S. policy expectations.
US:COPS:Copper
Copper benefited from AI- and reshoring-linked capex themes as firms reposition supply chains against tariff risks.
SGX:D05.SI:DBS Group
Led weekly net institutional inflows into Singapore financials between Sep 26 and Oct 2.
SGX:C38U.SI:CapitaLand Integrated Commercial Trust
Drew net institutional inflows as yield plays found support.
SGX:O39.SI:Oversea-Chinese Banking Corp (OCBC)
Recorded net institutional buying and led share buybacks, repurchasing 1.25 million shares at ~S$16.48.
SGX:BN4.SI:Keppel
Saw net institutional inflows during the week.
SGX:H78.SI:Hongkong Land
Posted net institutional inflows and continued buybacks totaling 943,000 shares at ~US$6.36.
SGX:S59.SI:SIA Engineering
Attracted institutional buying amid sector rotation.
SGX:S63.SI:ST Engineering
Drew inflows as defensive industrials stayed bid.
SGX:S68.SI:Singapore Exchange
Benefited from net institutional buying alongside market activity.
SGX:5E2.SI:Seatrium
Registered net institutional inflows during the period.
SGX:C09.SI:City Developments
Featured among top institutional inflows over the five sessions.
SGX:Z74.SI:Singtel
Led net institutional outflows within Singapore telecommunications.
SGX:C6L.SI:Singapore Airlines
Faced net institutional outflows amid mixed travel sentiment.
SGX:C52.SI:ComfortDelGro
Saw net institutional selling as transport lagged.
SGX:BS6.SI:Yangzijiang Shipbuilding
Recorded net institutional outflows despite sector resilience.
SGX:J69U.SI:Frasers Centrepoint Trust
Experienced net institutional outflows as REITs stayed range-bound.
SGX:T82U.SI:Suntec REIT
Registered net institutional outflows over the week.
SGX:9CI.SI:CapitaLand Investment
Logged net institutional outflows against valuation concerns.
SGX:U96.SI:Sembcorp Industries
Posted net institutional outflows amid profit-taking.
SGX:S08.SI:Singapore Post
Saw net institutional outflows as restructuring remained in focus.
SGX:G13.SI:Genting Singapore
Faced net institutional selling during the review window.
SGX:C33.SI:Chuan Hup Holdings
Bought back 2,854,800 shares at ~S$0.22, lifting total under its mandate to 0.99% of shares.
SGX:595.SI:GKE Corporation
Received SGX nod to place up to 88,123,510 new shares at S$0.0968, raising gross proceeds of S$8.53 million for logistics and warehousing expansion.
SGX:F34.SI:Wilmar International
Chairman/CEO Kuok Khoon Hong lifted deemed stake to 14.39% via affiliated purchases; group flagged Q3 net loss risk after Indonesia court ruling while maintaining full-year profit outlook.
SGX:OU8.SI:Centurion Corporation
Joint chairman Han Seng Juan increased his stake to 55.75%; Malaysia dormitory acquisition adds beds and is guided as earnings-accretive.
SGX:W05.SI:Wing Tai Holdings
Chairman Cheng Wai Keung raised his deemed interest to 61.97% through additional purchases.
SGX:42F.SI:TOTM Technologies
Substantial holder Thomas Clive Khoo upped his stake to 18.17% with a 3,979,900-share purchase at ~S$0.031.
US:XOM:Exxon Mobil
Guided Q3 upstream earnings sensitivity from –US$100 m to +US$300 m on crude moves and –US$200 m to +US$200 m on gas, with US$300–700 m upside from refining margins and US$400–600 m restructuring costs.
US:TTE:TotalEnergies
Scheduled to report Q3 results on Oct 30 as investors gauge sector margin trends.
US:BP:BP
Set to release Q3 results on Nov 4, following Exxon Mobil’s guidance snapshot for the industry.
SGX:AJBU.SI:Keppel DC REIT
Highlighted for decade-long triple-digit total returns despite rising rates as data-centre REITs stayed in focus.
SGX:ME8U.SI:Mapletree Industrial Trust
Cited alongside Keppel DC REIT for long-run performance as investors reassessed yield and growth profiles.
SGX:9MT.SI:MetaOptics
Catalist newcomer traded well post-IPO, closing at S$0.53 versus S$0.20 offer amid enthusiasm for optics components.
SGX:L19.SI:Lum Chang Creations
Posted strong post-listing gains after July IPO at S$0.25, supported by robust August earnings.
SGX:UZF.SI:Dezign Format Group
Catalist listing saw early price strength after S$0.20 offer, later consolidating near S$0.29.
SGX:—:Info-Tech Systems
Mainboard debut in July at S$0.87 saw shares trade between S$0.80 and S$0.94, ending last week at S$0.88.
oil:US:UCO
Brent rose 1.46% to US$65.47 and WTI gained 1.33% to US$61.69 after OPEC+ approved a smaller-than-feared November output increase.
OPEC+ will raise production in November by 137,000 bpd, matching October’s pace and soothing worries of a larger supply wave.
Market participants judged that actual extra barrels may be limited because several OPEC+ members are already pumping near capacity, said Andrew Lipow of Lipow Oil Associates.
Behind the scenes, Russia pushed for a 137,000 bpd hike while Saudi Arabia was open to far larger increases to claw back market share.
Additional supply signals included rising Venezuelan exports, resumed Kurdish flows via Turkey, and unsold Middle Eastern November barrels, noted Tamas Varga of PVM Oil Associates.
Saudi Arabia kept its Arab Light official selling price to Asia unchanged, offering little fresh support to the regional crude premium.
Near-term gains may be capped as Asian refiners head into maintenance season and regional crude premiums slid to a 22-month low last week.
Russia’s Kirishi refinery halted its main CDU after an Oct 4 drone attack and fire; recovery is expected to take about a month, tightening refined-product output temporarily.
U.S. crude, gasoline and distillate inventories rose more than expected in the week ended Sep 26 as refinery runs and demand softened, tempering price upside.
IG Group’s Chris Beauchamp said steadier production growth may limit downside, with demand hinging on whether the U.S. economy can reaccelerate into 2026.
CapitaLand Ascendas REIT Acquires Three Prime Industrial and Logistics Properties in Singapore for S$565.8 Million
StarHub’s Board affirmed the Group’s ability to meet obligations and that FY2024 financials present a true, fair view, underscoring strong governance, sustainability focus, and strategic growth. The company paid a final tax-exempt dividend of 3.2 cents per share (S$55.1m) for FY2024, with interim dividends planned for 2025. Performance share awards are tied to stretch targets spanning TSR, ROIC, ESG (emissions and renewable energy), and transformation KPIs. As at 31 Dec 2024, debt stood at S$1,013.1m fixed and S$122m variable, with at least 50% kept fixed amid benchmark reforms (e.g., SORA). KPMG issued a clean audit, and related-party transactions totaled S$4.6m in H1 2025.
KIT delivered a strong 1H 2025, completing two major divestments to unlock S$301m for redeployment and proposing a 46.7% stake in subsea cable specialist Global Marine Group—its entry into high-growth digital infrastructure. Distributable income jumped 31.2% YoY to S$119.4m, lifting DPU 1% YoY to 1.97 cents, while AUM rose to S$8.7b across energy transition, environmental services, and distribution & storage. With net gearing at 39.3% and healthy debt metrics, KIT is positioned for further acquisitions, underpinned by ongoing ESG leadership and a net zero 2050 target.
HRnetGroup Limited plans to place 9,780,800 new shares with select institutional and HNW investors, led by Avanda Investment Management (4,200,000; 42.9%), Lion Global Investors (2,100,800; 21.5%), ICH Asset Management (1,400,000; 14.3%), Mr Lim Chap Huat (1,380,000; 14.1%), and Dr Chong Weng Chiew (700,000; 7.2%). The line-up features established managers—Avanda (global institutional clientele), LGI (part of Great Eastern/OCBC; S$74.7b AUM as of Jun 2025), and ICHAM (multi-family office/institutional manager). The company notes investors are participating on their own account with no prior connections to HRnetGroup or its substantial shareholders. The placement remains subject to completion and may change; shareholders should exercise caution.
UHREIT delivered a resilient 1H 2025: DPU up 4% YoY to 2.09 US cents, backed by rising distributable income and disciplined capital recycling (high-profile divestments and the accretive Dover Marketplace acquisition). Units offer a ~9.1% yield and trade at a ~39% discount to NAV, while portfolio metrics remain robust (97.2% Grocery & Necessity occupancy; 95.3% Self-Storage). The balance sheet is solid (36.1% net leverage; no refinancing until Nov 2026), with a positive U.S. macro and necessity-based exposure supporting growth. With strong anchors, triple-net structures, and ongoing sustainability progress, UHREIT screens as a yield-focused value play where continued acquisitions, rate cuts, or discount-to-NAV narrowing could catalyze upside.
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