Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>DBS downgrades SGX to 'hold' as growth shows signs of tapering off.</li><li>uSmart upgrades Hong Leong Asia to 'buy' following strong 1HFY2026 results.</li><li>uSMART starts ‘buy’ on Toku, setting a target price of 15.1 cents.</li></ul>

DBS downgrades SGX to 'hold' as growth shows signs of tapering off.uSmart upgrades Hong Leong Asia to 'buy' following strong 1HFY2026 results.uSMART starts ‘buy’ on Toku, setting a target price of 15.1 cents.

Singapore Market Roundup (13-Oct-2026): DBS downgrades SGX to 'hold' amid slowing growth.

<ul>
<li>CGSI has a positive outlook on Sembcorp.                                        </li>
<li>Maybank downgrades Sheng Siong to 'hold' with reduced target price.</li>
<li>DBS keeps 'buy' rating on Singtel amid Airtel's postpaid price hike.</li>
</ul>


CGSI has a positive outlook on Sembcorp.                                        
Maybank downgrades Sheng Siong to 'hold' with reduced target price.
DBS keeps 'buy' rating on Singtel amid Airtel's postpaid price hike.


Singapore Market Roundup (09-Oct-2026): CGSI is optimistic about Sembcorp.

<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>PhillipCapital has started coverage of AvePoint with an "accumulate" rating and a $20 target price, reflecting an 11.1% upside from its $18 closing price.</li>
<li>Analyst Helena Wang noted that AI errors can propagate quickly, emphasizing the importance of AvePoint’s backup software in minimizing disruptions.</li>
<li>Swaen Capital's Kenny Tan sees the company's Resilience suite, comprising 60% of ARR, as stable against AI disruption, depending mainly on user growth and competition with Microsoft 365.</li>
</ul>


PhillipCapital has started coverage of AvePoint with an "accumulate" rating and a $20 target price, reflecting an 11.1% upside from its $18 closing price.
Analyst Helena Wang noted that AI errors can propagate quickly, emphasizing the importance of AvePoint’s backup software in minimizing disruptions.
Swaen Capital's Kenny Tan sees the company's Resilience suite, comprising 60% of ARR, as stable against AI disruption, depending mainly on user growth and competition with Microsoft 365.


Singapore Market Roundup (06-Oct-2026): PhillipCapital rates AvePoint 'accumulate'; Swaen warns