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Daily Sprout 🌱 (13 July) 

US stocks ended higher on Friday as investors looked ahead to the earnings season, with the S&P 500 approaching record highs. South Korean memory chipmaker SK Hynix surged 13% in its US trading debut, boosting sentiment towards AI-related semiconductor stocks.

STI ⬆️ 0.65% HSI ⬆️ 0.60% NKY ⬆️ 1.20% S&P500 ⬆️ 0.42% Nasdaq ⬆️ 0.29% DJIA ⬆️ 0.29% Russell2000 ⬇️ 0.49%

What's Sprouting 

🌱 Singapore REITs underperformed the broader market in the first half of 2026, weighed down by higher bond yields, elevated oil prices and geopolitical uncertainty. The iEdge S-REIT Index delivered a total return of -3.9% year to date, compared with a 13.7% gain for the Straits Times Index. Still, there were pockets of resilience, with nine S-REITs posting positive total returns over the period. Read here for Beansprout’s article on 3 blue chip S-REITs which held up in 1H26.

🌱 Singapore’s 17% jump in electricity tariffs could put pressure on heavy data centre users. REITs appear largely insulated for now, as many leases allow power costs to be passed through to tenants or are covered by fixed procurement contracts. However, industry observers warn that these arrangements may only delay the impact for end-users if electricity costs stay elevated.

🌱 Luxury home sales in Singapore rose to a four-year high in the first half of 2026, despite a softer broader private residential market. Demand was driven by wealthy buyers seeking prime assets as safe havens amid global uncertainty, as well as interest from new citizens and permanent residents. According to Realion Research, 353 landed and non-landed homes in the Core Central Region priced at S$5 million or more were sold in H1 2026.

🌱 SATS plans to build a unified technology and data platform using artificial intelligence across its operations. The platform is aimed at improving planning, forecasting and execution at scale, while supporting more cost-effective AI adoption. The group also said the impact from the Iran conflict has been mixed but manageable, helped by its diversified network. Read more here

🌱 ValueMax is looking to deepen its presence across the gold supply chain, from jewellery recycling to digital gold trading. The group has diversified beyond traditional pawnbroking into jewellery and gold retail, trading and moneylending. Managing director Yeah Lee Ching said ValueMax is adapting to changing consumer preferences as competition in Singapore’s precious metals market increases.

🌱 A consortium including JD.com's asset management arm, Partners Group and Hillhouse-backed EZA Hill Property Management is preparing to confidentially file for a Singapore REIT IPO. The proposed listing could raise about S$1 billion, with a draft registration expected to be submitted to the Monetary Authority of Singapore and the Singapore Exchange soon.

🌱 SK Hynix rose 13% in its US trading debut after completing the largest-ever US IPO by a foreign company. Strong investor demand reflects continued optimism over AI-related memory chips, with the company's US$26.5 billion offering becoming the third-largest IPO on record. SK Hynix expects memory chip shortages to persist beyond 2030, as AI-driven demand continues to outpace supply. Read here for Beansprout’s take on what Hynix ADR listing could mean for the AI theme

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Daily Sprout 🌱 (14 July) 

US stocks ended lower on Monday as technology shares fell after President Donald Trump announced a blockade on Iranian ports, driving oil prices higher and dampening investor risk appetite. The Philadelphia Semiconductor Index was the biggest laggard, with SanDisk, Marvell Technology and Intel falling between 6.1% and 12.6%, while the Dow outperformed as gains in energy stocks helped offset broader market weakness.

STI ⬆️ 0.02% HSI ⬆️ 0.16% NKY ⬇️ 1.92% S&P500 ⬇️ 0.79% Nasdaq ⬇️ 1.55% DJIA ⬇️ 0.26% Russell2000 ⬇️ 0.83%

What's Sprouting 

🌱 Singapore’s economy grew 5.7% year on year in the second quarter of 2026, easing from 6.3% growth in the first quarter. On a quarter-on-quarter basis, GDP rose 1.1%, extending the 1.3% growth seen in Q1. Growth was supported by a strong manufacturing sector, which expanded 12.2% year on year, driven by AI-related demand for semiconductors and semiconductor manufacturing equipment.

🌱 Singapore Exchange reported its highest average daily securities trading value in 18 years for FY2026, with securities daily average value rising 35% year on year to S$1.8 billion. The strong performance was supported by record highs in the Straits Times Index, while derivatives trading volume also increased 15% year on year to 363.5 million contracts. Read more here

🌱 Keppel has fully commercialised its Bifrost Cable System after securing a customer for its fifth and final fibre pair. The project is expected to generate about US$1.3 billion in contract value over 25 years, with Keppel targeting an internal rate of return of around 30% from the subsea cable system. Read more here

🌱 Keppel’s EV charging arm, Volt Singapore, has opened Singapore’s largest public fast-charging hub for commercial electric vehicles in Jurong. The hub at 2E Jalan Papan has 46 charging points and serves electric buses, trucks, cars and taxis. Depending on the vehicle, the chargers can add up to 300 km of range in 10 minutes.

🌱 CapitaLand Investment has disbanded its special opportunities team, with the remaining members either leaving the firm or being reassigned internally. While the dedicated unit has been dissolved, the company will continue to evaluate special situations investment opportunities on a case-by-case basis. Read more here

🌱 Mapletree Investments has broken ground on a 419,520 sq ft industrial facility in Chicago’s Joliet submarket. The logistics property sits on a 29.36-acre site and is expected to be completed in the first quarter of 2027. Mapletree said the project supports its strategy to grow its US logistics development pipeline with well-located, institutional-grade assets in high-demand distribution hubs.

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Daily Sprout 🌱 (15 July) 

US stocks ended higher on Tuesday as stronger-than-expected bank earnings and softer US inflation boosted investor sentiment. A rebound in semiconductor stocks helped lift the Nasdaq, as easing energy prices following last month’s progress in US-Iran peace negotiations contributed to lower-than-expected inflation.

STI ⬆️ 0.46% HSI ⬆️ 0.52% NKY ⬆️ 0.74% S&P500 ⬆️ 0.38% Nasdaq ⬆️ 0.90% DJIA ⬆️ 0.02% Russell2000 ⬆️ 0.39%

What's Sprouting 

🌱 The Monetary Authority of Singapore's Grant for Equity Market Singapore (GEMS) scheme has supported 85 listings since its launch in 2019, including 12 Mainboard listings in 2025 and the first half of 2026. The listing grant co-funds eligible listing expenses to encourage companies across sectors to list on the Singapore Exchange.

🌱 Info-Tech Systems expects to report strong year-on-year growth in both underlying earnings and revenue for 1H2026. The company said it will provide further details when it announces its results, with analysts highlighting its AI-related training courses as a potential new growth driver.

🌱 The Trendlines Group said its portfolio company ElastiMed has signed an exclusive US distribution agreement with Nasdaq-listed Tactile Systems Technology. The agreement supports the US commercial launch of ElastiMed's MyoSleeve wearable compression device, initially targeting patients at selected US Department of Veterans Affairs and Department of Defense facilities.

🌱 Acrophyte Hospitality Trust has appointed James Sung Jung as chief executive officer with effect from Jul 16, succeeding Lee Jin Yong. Jung, who has served as director of investments since the trust's listing in 2019, brings more than 20 years of experience in hospitality acquisitions, asset management and business development.

🌱 The Monetary Authority of Singapore exceeded its FY2025 sustainability targets, reducing Scope 1, 2 and 3 (business air travel) emissions by 33% and Scope 3 emissions from outsourced currency operations by 45% versus its FY2018 baseline. The central bank is now ahead of its FY2030 emissions reduction targets.

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Daily Sprout 🌱 (16 July) 

Wall Street closed higher on Wednesday, supported by softer inflation data and a strong start to the second-quarter earnings season. Gains were led by consumer, retail and travel stocks, even as semiconductor shares lagged. PayPal jumped 17.2% after reports of a takeover offer from Stripe and Advent International, while strong earnings from BlackRock and Morgan Stanley added to positive market sentiment.

STI ⬆️ 1.63% HSI ⬆️ 1.40% NKY ⬆️ 1.49% S&P500 ⬆️ 0.38% Nasdaq ⬆️0.62% DJIA ⬆️0.29% Russell2000 ⬆️ 0.39%

What's Sprouting 

🌱 DBS is targeting more than S$1 trillion in assets under management across its retail and wealth businesses by 2030, supported by AI, partnerships and regional expansion. The bank plans to hire 600 more front-line advisers and platform engineers by end-2028, while wealth AUM had already reached S$492 billion in 1Q2026, close to its earlier S$500 billion target. Read more here

🌱 Singapore’s tourism receipts rose 5.8% year on year to S$8.6 billion in the first quarter of 2026. International visitor arrivals increased 2.9% to 4.4 million over the same period, supported by healthy visitor spending. Singapore Tourism Board (STB) said this reflects Singapore’s focus on quality tourism, although it expects visitor demand to moderate amid global uncertainty.

🌱 The SIA Group carried a record 3.7 million passengers in June, up 6.3% year on year, with passenger traffic supported by robust travel demand. Cargo volumes also rose 8.5%, driven by AI and data centre-related shipments, as well as front-loading of e-commerce exports to Europe ahead of new EU import duties. 

🌱 CapitaLand Ascendas REIT is divesting Kim Chuan Telecommunications Complex for S$200.4 million, representing a 32% premium to its latest valuation and double its original purchase price in 2005. The divestment is expected to unlock value for unitholders, with the manager entitled to a 0.5% divestment fee under the REIT's trust deed. Read more here

🌱 ComfortDelGro has appointed Yap Chee Khean as its first group chief operating officer. The newly created role is part of the group’s strategy to strengthen global operations and support growth across markets. Yap, who will start on 15 October, brings more than 20 years of leadership experience from companies including Carlsberg Group and Jardine Matheson.

🌱 Singapore developers sold just 156 new private homes in June, the lowest monthly level in more than two years, as fewer project launches during the school holidays weighed on sales. Developers are expected to resume launches this month, while private home price growth moderated to 0.5% in the second quarter.

🌱 A consortium comprising Frasers Property, Frasers Centrepoint Trust, Sunway MCL, Sekisui House and Lum Chang submitted the top bid of S$2.13 billion for the Bayshore Drive mixed-use GLS site, equivalent to S$1,323 psf per plot ratio. The bid was 5.8% above the second-highest offer from a Hong Leong-led consortium, highlighting strong developer interest in the site.

🌱 Coliwoo has opened the 380-room Coliwoo Resort Changi, Singapore's first resort-style co-living hotel, following a 10-month restoration of the former Changi holiday chalets. The project is Coliwoo's largest hospitality development by land area and marks its expansion into eastern Singapore.

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Daily Sprout 🌱 (17 July) 

US stocks ended lower on Thursday as renewed weakness in semiconductor stocks outweighed upbeat economic data and strong second-quarter earnings. The Philadelphia Semiconductor Index fell 4.3%, dragging the technology sector lower and weighing on both the Nasdaq and S&P 500.

STI ⬇️ 0.37% HSI ⬆️ 1.33% NKY ⬇️ 2.79% S&P500 ⬇️ 0.51% Nasdaq ⬇️ 1.47% DJIA ⬇️ 0.20% Russell2000 ⬇️ 0.06%

What's Sprouting 

🌱 PC Partner Group expects to report first-half earnings of at least HK$500 million, more than double the HK$250.4 million recorded a year earlier. The company attributed the stronger performance to higher selling prices for its branded products, which supported improved profit margins. 

🌱 Geo Energy Resources said its newly operational MBJ infrastructure business could contribute up to US$350 million in annual EBITDA over time. The project diversifies Geo Energy's earnings beyond coal mining by providing integrated coal logistics infrastructure in South Sumatra for domestic and export markets.

🌱 Lum Chang Creations expects to report a significant increase in FY2026 earnings, driven by improved gross margins, better project execution and a more favourable project mix. The company also secured a S$32.9 million contract for architectural works at Teck Ghee Station under the North-South Corridor project, with completion expected in 2029.

🌱 Eastspring Investments has launched the Asia Technology Innovation Fund, an actively managed fund focused on Asian technology companies powering the next wave of AI and digitalisation. Rather than investing in large global technology firms, the fund targets Asian chipmakers, hardware suppliers and infrastructure providers across the AI supply chain.

🌱 Singapore's marine fuel sales rose 1.6% year on year in June, ending a two-month decline as lower bunker prices supported demand. Bunker sales reached 4.7 million tonnes during the month, with the improvement attributed to easing crude oil prices.

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