To The Moon

The Straits Times Index $Straits Times Index(STI.SI)$ edged up 1.24% weekly and closed at 5,698.43 as of August 7th. The index has now surged nearly 22.6% YoY, with gold ETFs, fintech names, and China tech SDRs driving this week's gains while energy and property names lagged.

Weekly Sector Stars: Real Estate Development (+46.05%), Transaction & Payment Processing Services (+25.34%), Office Services & Supplies (+20.13%), Oil & Gas Refining & Marketing (+20.03%), and Gold (+14.40%) dominated the leaderboard — though several of these moves were likely low-volume anomalies or idiosyncratic re-ratings.

9 Popular Stocks:

• $SS SPDR S&P500 USD(S27.SI)$ +3.19% — The Singapore-listed S&P 500 ETF tracked Wall Street higher as U.S. equities rallied on strong Big Tech earnings, offering local investors convenient USD-denominated exposure to Mag 7 and broader U.S. large-caps.

• $PetroCN HK SDR 1to2(HPCD.SI)$ -5.26% — The Singapore-listed HK SDR retreated as crude oil prices softened from recent Middle East supply-fear peaks, with profit-taking hitting the energy major after its prior-week strength.

• $Bank of CN HK SDR 1to1(HBND.SI)$ -5% — The prime commercial property developer slumped as Hong Kong office leasing recovery concerns resurfaced, with China's property market headwinds continuing to weigh on sentiment.

• $GLD SG$(GSD.SI)$ +5.9% / $GLD US$(O87.SI)$ +5.95% — The gold ETF duo surged as safe-haven demand returned amid renewed Middle East tensions and U.S. election uncertainty. Gold prices reclaimed key technical levels, with the SGD and USD versions both benefiting from the precious metals rally.

• $OCBC Bank(O39.SI)$ +4.02% — The longest-established Singapore bank extended its recent strength, with its strong CET1 ratio (~15-17%) and attractive valuation relative to DBS continuing to attract institutional inflows. The stock trades at a discount to peers on a P/B basis, with market chatter around a potential payout ratio increase to 60%.

• $Alibaba HK SDR 5to1(HBBD.SI)$ +5.76% — The Chinese tech giant's Singapore SDR advanced on continued momentum from its strong earnings and AI capex cycle narrative. The company's cloud infrastructure partnerships and e-commerce stabilization remain key support pillars.

• $Gulf Dev TH SDR 1to1(TGUD.SI)$ +7.02% — The Singapore-based digital customer experience solutions provider rallied on strong AI-enabled automation contract wins with global tech clients, with the company raising its FY2026 revenue guidance.

• $BDMS TH SDR 1to2(TBDD.SI)$ +5.48% — The Thailand-based beverage giant's Singapore SDR advanced on resilient domestic consumption in Thailand and its diversified spirits and beer portfolio, with the stock benefiting from ASEAN consumer recovery optimism.

Market Context:

The STI's record close reflected a classic "risk-on with a gold hedge" positioning. Gold ETFs (GSD +5.9%, O87 +6%) surged alongside China tech (HBBD +5.8%) and fintech (TGUD +7%), while energy (HPCD -5.3%) and property (HBND -5%) sold off.

The outsized moves in Real Estate Development (+46%) and Transaction Processing (+25%) were likely low-volume anomalies. The index's ability to hold above 5,600 will depend on whether U.S. tech earnings momentum can sustain the S27 bid, and whether gold's safe-haven rally extends or reverses on any Middle East de-escalation.

With the STI up nearly 22.6% YTD, valuation concerns are mounting — DBS trades at ~2.4x P/B and the index's forward P/E is approaching historical highs. A healthy consolidation may be overdue.

Weekly focus for SGX market on August 10-14th 2026