SGX Weekly: Safe-Haven Flows Support STI Above 5,650; Dividend Week & Macro Data Ahead

SGX_Stars
08-23
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The $Straits Times Index(STI.SI)$ weekly declined 0.95% and closed at 5,688.96 (as of August 21st, 2026), as strength in gold proxies, Thai transport, and Chinese tech SDRs partially offset broader market weakness. The index held above the 5,650 level amid safe-haven flows into precious metals.

The week is light on earnings but active on corporate actions — three ex-dividend dates ( $Bumitama Agri(P8Z.SI)$ , $Haw Par(H02.SI)$ , $Genting Sing(G13.SI)$ ) and the $SIA(C6L.SI)$ dividend payout on Friday are the main stock-specific events.

On the macro side, Singapore CPI (Mon) and GDP final (Tue) are the key domestic prints to watch. The SGX regulatory front remains dynamic with the recent rights-issue cap increase and the new Nasdaq dual-listing framework now live.

Top Sectors last week:

Gold (+21.41%) led on safe-haven demand and precious-metals momentum. Advertising (+18.23%) surged on digital marketing recovery. Apparel, Accessories & Luxury Goods (+14.81%) advanced on China consumer-spending stabilization, while Health Care Distributors (+11.99%) tracked resilient pharmaceutical demand.

10 Popular Stocks of Last Week:

Performance is subjected to market volatility

Corporate Actions — Dividends & Ex-Dates for the comming week

Date

Company

Ticker

Event

Details

Mon, Aug 24

$Bumitama Agri(P8Z.SI)$

P8Z

Ex-Dividend

SGD 0.041/share. Record date Aug 25; paid Sep 3.

Mon, Aug 24

$Haw Par(H02.SI)$

H02

Ex-Dividend

SGD 0.20/share. Record date Aug 25; paid Sep 11.

Thu, Aug 27

$Genting Sing(G13.SI)$

G13

Ex-Dividend

SGD 0.02/share. Record date Aug 28; paid Sep 22.

Fri, Aug 28

$SIA(C6L.SI)$

C6L

Dividend Payment

SGD 0.22 final + SGD 0.07 special = SGD 0.29/share paid out.

Mon, Aug 31

$DBS(D05.SI)$

D05

Ex-Dividend

SGD 0.54/share (just after the week).

Note: SIA's total payout fell to S$0.37 from S$0.40 a year ago, with headline net profit down 57.4% YoY due to the absence of a one-off Vistara gain

Regulatory & Market Structure Updates

Event

Effective Date

Impact

SGX raised renounceable rights issue cap to 100% of share capital

Announced July–Aug 2026

Gives boards more flexibility for large capital raises without shareholder approval.

Amendments to Rights Issue Timetable

Aug 6, 2026

Streamlines the timeline for rights issues.

SGX-ST Rules amendments

Aug 21, 2026

Margin and trading rule updates.

Global Listing Board (GLB)

Effective since Jun 29, 2026

New dual-listing bridge with Nasdaq; first-of-its-kind pathway for concurrent SGX-Nasdaq listings using a single prospectus.

Singapore Macro Data (SingStat / MAS) for the Coming Week

Date

Indicator

Period

What to Watch

Mon, Aug 24

CPI (General Households)

Jul 2026

Inflation trajectory after prior months of stabilization

Tue, Aug 25

Personal Disposable Income & Saving

Q2 2026

Household resilience amid rate environment

Tue, Aug 25

Household Sector Balance Sheet

Q2 2026

Leverage and wealth effects

Tue, Aug 25

GDP Growth Rate (Final)

Q2 2026

Confirmation of the 5.9% YoY flash estimate; MAS upgraded 2026 full-year forecast to 4.5%–5.5% in early August

Wed, Aug 26

Index of Industrial Production (IPI)

Jul 2026

Manufacturing momentum after strong electronics/export prints

Thu, Aug 27

Business Receipts for Services Industries

Q2 2026

Tourism, finance & logistics trends

Fri, Aug 28

Manufactured Products & Domestic Supply Price Indices

Jul 2026

Pipeline inflation / deflation signals

Fri, Aug 28

Import & Export Price Indices

Jul 2026

Trade terms and currency pass-through

Bottom Line

  • Earnings: SGX is in the tail end of reporting season. No STI heavyweights this week; focus shifts to smaller caps on Wed/Thu.

  • Macro: Singapore's own data takes center stage — CPI (Mon), GDP final (Tue), and IPI (Wed) are the key prints. The US PCE and GDP on Wednesday will also set the tone for global risk appetite heading into the final week of August.


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Comments

  • Shyon
    08-23
    Shyon
    I’m watching the STI closely after last week’s 0.95% decline. Gold-related strength stood out & I remain bullish on gold as safe-haven demand continues to support precious metals. The index holding above 5,650 is also encouraging and suggests that downside momentum has not fully taken control.

    For the week ahead, Singapore CPI and the final Q2 GDP figure are the key data points I’ll be watching. On the stock side, GLD Singapore (GSD) remains my main focus, while SIA (C6L) is also worth watching as its S$0.29 final and special dividend is paid out. I’m particularly interested in whether gold momentum can continue to outperform while broader equities remain volatile.

    Overall, I’m staying cautiously optimistic and will continue looking for selective opportunities rather than chasing the broader market. With macro data and corporate actions in focus, I think patience and disciplined positioning will remain important this week.

    @Tiger_comments @TigerStars @SGX_Stars @Tiger_SG

  • 苏36
    08-24
    苏36
    Singapore Stocks: Defensive Strength Meets a Stronger Economy

    The STI slipped 0.95% last week to 5,688.96, but the pullback looks more like consolidation than a breakdown. Gold-related names led the market, while Sembcorp, shipbuilders and selected Chinese SDRs remained resilient.

    The bigger story is Singapore’s economic backdrop. Q2 GDP growth was revised to 5.9% YoY, while MTI raised its 2026 growth forecast to 4.5%-5.5%, supported by strong AI-related investment and manufacturing demand.

    This week, investors should watch inflation and industrial data closely. July headline CPI came in at 2.2%, while core inflation was 2.0%, both below expectations—potentially easing pressure on monetary policy.

    For stocks, the key themes remain banks, gold, utilities and AI-linked infrastructure. The STI may stay volatile, but as long as 5,650 holds, the medium-term bullish structure remains intact.

    @SGX_Stars [财迷]

  • Jerry Lam
    08-31 23:16
    Jerry Lam
    我觉得这周STI的核心还是 防御性资产占优,但真正能不能走出更强行情,要看新加坡自己的数据能不能接棒。

    上周指数跌0.95%,但黄金、银行、公用事业和部分高股息资产明显抗跌,说明资金并没有完全离场,而是在从高波动方向往 现金流、股息和避险资产 里转。像中国银行SDR、胜科工业、黄金ETF这种表现,其实很符合这个阶段的风险偏好。

    这周我会重点看三项:CPI、最终GDP和工业生产。如果通胀温和、GDP维持强劲,同时电子和制造业继续有韧性,那STI有机会从“防御性撑盘”转向更健康的基本面驱动;如果制造业转弱,那银行、电信、REIT和黄金这类资产可能继续占上风。

    个股里我会更关注 DBS、Singtel、SGX和Sembcorp,而不是单纯为了除息去追高股息。因为除息只是现金分配,真正决定股价能不能长期走高的,还是盈利和现金流。

    一句话:STI现在不是没机会,而是在等数据证明“防御不是唯一理由”;如果GDP和制造业继续强,市场才有机会从避险轮动升级成真正的基本面行情。

  • Mkoh
    08-26
    Mkoh
    STI recently hit an all-time high near 5,768 (closing) / 5,774 (intraday) in mid-August 2026, now hovering ~5,720–5,736. Banks (DBS, OCBC, UOB; ~57% weight) drove much of the ~24% YTD total return amid strong earnings and wealth inflows. Other majors (e.g., ST Engineering, SGX) also contributed positively.

    Further upside is possible if earnings growth (~10–12% expected) continues, rates ease, and Singapore’s economy remains resilient (AI, infrastructure, services). Consensus targets and historical patterns after ATHs support moderate gains, though valuations have tightened and profit-taking occurs.
    Market breadth remains narrow—many non-bank STI stocks lag. Mid-caps (e.g., iEdge Next 50) have underperformed STI YTD (~5–8% vs. 24%), despite rising liquidity, institutional inflows, and SGX revitalization efforts. Selective quality mid-caps with earnings visibility could broaden participation over time, but banks will likely dominate near-term moves

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