Broker Name: Lim & Tan Securities
Date of Report: 11 December 2025
Excerpt from Lim & Tan Securities report.
- Singapore’s FSSTI index is up 19.1% year-to-date, with global markets generally positive; the S&P 500 and Nasdaq have seen respective YTD gains of 17.1% and 22.5%.
- Acrophyte Hospitality Trust (ACRO-HT) is selling its Hyatt Place Detroit Livonia hotel for US\$10 million, a 2.9% discount to independent valuation, to focus on higher-performing assets and strengthen its balance sheet.
- ACRO-HT’s portfolio comprises 32 hotels in the US, but faces headwinds from softening US lodging demand and rising operating costs; the trust trades at 0.4x P/B and a 3.4% dividend yield.
- The US Federal Reserve cut rates by 25bps to 3.5%-3.75%, with divided opinions among policymakers and expectations for only one more cut in 2026; markets responded positively, with US equities rising and bond yields falling.
- Chinese insurers, led by Ping An, are increasing investments in Hong Kong-listed Chinese banks for their high dividend yields amidst a challenging property market and low margins, fueling a sector rally.
- Recent fund flows show institutional investors as net sellers and retail investors as net buyers in Singapore-listed stocks, reflecting differing market outlooks by investor type.
- Key upcoming ex-dividend dates and dividend distributions for major Singapore-listed companies are detailed for investor reference.
Report Summary
- Singapore and global equity markets remain firm, with selective sector strengths.
- Acrophyte Hospitality Trust is divesting underperforming assets to redeploy capital and improve its portfolio.
- The Federal Reserve’s latest rate cut has boosted market sentiment, but policymakers remain divided on future direction.
- Chinese insurers’ buying of bank stocks underscores preference for defensive, high-yield assets in Asia.
- Institutional and retail investors in Singapore are showing opposing fund flow trends.
Above is an excerpt from a report by Lim & Tan Securities. Clients of Lim & Tan Securities can be the first to access the full report from the Lim & Tan Securities website: https://www.limtan.com.sg
