Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>UOBKH maintains 'buy' on United Hampshire US REIT amid retail sector revival.</li><li>Phillip Securities initiates 'buy' rating for JEP at 83 cents.</li><li>JP Morgan recommends reducing DBS and OCBC holdings, favoring UOB instead.</li></ul>

UOBKH maintains 'buy' on United Hampshire US REIT amid retail sector revival.Phillip Securities initiates 'buy' rating for JEP at 83 cents.JP Morgan recommends reducing DBS and OCBC holdings, favoring UOB instead.

Singapore Market Roundup (08-Oct-2026): UOBKH keeps 'buy' on United Hampshire US REIT as retail

<ul><li>RHB stays 'overweight' on Singapore banks; raises UOB's TP with rising rates.</li><li>Macquarie downgrades JMSEA to 'underperform' due to premium over NAV.</li><li>Citi downgrades OCBC to 'sell' with a target price of $27.50.</li></ul>

RHB stays 'overweight' on Singapore banks; raises UOB's TP with rising rates.Macquarie downgrades JMSEA to 'underperform' due to premium over NAV.Citi downgrades OCBC to 'sell' with a target price of $27.50.

Singapore Market Roundup (07-Oct-2026): RHB remains 'overweight' on Singapore banks; boosts UOB

<ul><li>RHB anticipates Info-Tech will gain from the government's AI initiatives.</li><li>DBS's Mittal keeps 'buy' rating on Singtel after Gulf Development stake sale.</li><li>UOB Kay Hian maintains 'buy' on Food Empire, target price at $3.49.</li></ul>

RHB anticipates Info-Tech will gain from the government's AI initiatives.DBS's Mittal keeps 'buy' rating on Singtel after Gulf Development stake sale.UOB Kay Hian maintains 'buy' on Food Empire, target price at $3.49.

Singapore Market Roundup (23-Jun-2026): RHB expects Info-Tech to benefit from government AI plans.

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

<ul><li>Combined non-interest income for DBS, OCBC, and UOB rose to S$5.72 billion in 2Q26, accounting for 41% of total income.</li><li>Combined net interest income for the trio was S$8.14 billion in 2Q26, marking the 15th consecutive quarter above S$8 billion.</li><li>Asset quality remained stable in 2Q26, with NPL ratios at 1.0% for DBS, 0.9% for OCBC, and 1.6% for UOB.</li></ul>

Combined non-interest income for DBS, OCBC, and UOB rose to S$5.72 billion in 2Q26, accounting for 41% of total income.Combined net interest income for the trio was S$8.14 billion in 2Q26, marking the 15th consecutive quarter above S$8 billion.Asset quality remained stable in 2Q26, with NPL ratios at 1.0% for DBS, 0.9% for OCBC, and 1.6% for UOB.

STI Banks' Combined NOII Reaches Record S$5.72 Billion in 2Q26

<ul><li>Lim &amp; Tan rates Uni-Asia a "buy" at $1.39 for shipping and real estate.</li><li>Koh of UOBKH keeps $1.16 target price for UI Boustead REIT.</li><li>UOBKH maintains 'buy' on Reclaims Global after strong 1HFY2027 results.</li></ul>

Lim &amp; Tan rates Uni-Asia a "buy" at $1.39 for shipping and real estate.Koh of UOBKH keeps $1.16 target price for UI Boustead REIT.UOBKH maintains 'buy' on Reclaims Global after strong 1HFY2027 results.

Singapore Market Roundup (29-Sep-2026): Lim & Tan rates Uni-Asia a "buy" at $1.39.

Singapore

UOB-Kay Hian is a Singapore-based financial services group offering brokerage services, private wealth management, investment management, and financial research. It provides a wide range of products including equities, bonds, derivatives, and structured products, alongside corporate finance advisory and equity underwriting. The company traces its roots to Kay Hian & Co. in the early 1900s and is headquartered in Singapore.

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UOB-Kay Hian (UOBK SP)

Singapore Market Roundup (08-Oct-2026): UOBKH keeps 'buy' on United Hampshire US REIT as retail

UOBKH keeps 'buy' on United Hampshire US REIT; Phillip Securities starts 'buy' on JEP at 83 cents; JP Morgan advises reducing DBS and OCBC, prefers...

Singapore Market Roundup

Singapore Market Roundup (07-Oct-2026): RHB remains 'overweight' on Singapore banks; boosts UOB

RHB remains 'overweight' on Singapore banks and raises UOB's target price. Macquarie downgrades JMSEA to 'underperform,' while Citi downgrades OCBC...

Singapore Market Roundup

Singapore Market Roundup (23-Jun-2026): RHB expects Info-Tech to benefit from government AI plans.

RHB expects Info-Tech to benefit from government AI initiatives. DBS's Mittal maintains 'buy' on Singtel post Gulf Development stake sale; UOB Kay...

Singapore Market Roundup

STI Banks' Combined NOII Reaches Record S$5.72 Billion in 2Q26

Combined non-interest income for DBS, OCBC, and UOB rose to S$5.72 billion in 2Q26, accounting for 41% of total income. Combined net interest...

Singapore Exchange Ltd (SGX)

Singapore Market Roundup (29-Sep-2026): Lim & Tan rates Uni-Asia a "buy" at $1.39.

Lim & Tan rates Uni-Asia a "buy" at $1.39. UOBKH keeps UI Boustead REIT at $1.16 and maintains 'buy' on Reclaims Global after strong 1HFY2027 results.

Singapore Market Roundup

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