Hoe Leong Group disclosed last Saturday that the conditional subscription agreement signed with eScoopG on July 26, 2024, has been terminated on February 14, 2025, due to the failure to meet certain prerequisites and the inability of the parties to agree on an extension of the final deadline. The termination of the agreement is expected to have no significant adverse impact on the company's performance for the fiscal year 2024.
&#34;In terms of blue-chip stocks, the performance release from DBS has driven bank stocks higher, but there was some adjustment in the latter half of the week. It is expected that UOB will also release good performance this week. On the other hand, the U.S. Consumer Price Index (CPI) data has reignited inflation concerns, putting pressure on the local real estate trust sector.&#34;
OUE Limited issued a profit warning last Friday night, expecting the group to incur losses in the fiscal year 2024, while the profit attributable to shareholders for the fiscal year 2023 was SGD 81.1 million. The losses are expected to primarily stem from two aspects: first, the group's 25.9% stake in the joint venture Gemdale Properties and Investment Corporation has suffered losses, mainly due to the slowdown in the Chinese real estate market and adverse economic conditions; second, the overall net fair value loss from the group's real estate investments is expected to be around SGD 79 million, compared to a loss of SGD 24 million in the fiscal year 2023. OUE's stock price rose 0.5% to SGD 1.00 on Friday.
The Straits Times Index reached a historical high of 3921.20 points during intraday trading last Monday (10th) and has since undergone consolidation. Liu Yuhang, a stockbroker at Phillip Securities, stated in an interview with Lianhe Zaobao that oil and gas stocks performed outstandingly last week, with the Organization of the Petroleum Exporting Countries (OPEC) maintaining a strong growth forecast for global oil demand in 2025. Stocks like Rex International and Seatrium saw price increases, which also boosted active trading in other small stocks.
In the Asian stock market, the Hong Kong stock market performed strongly last week, with the Hang Seng Index rising 6.58% for the week and over 15% year-to-date. Liu Yuhang believes that the Hong Kong stock market has been boosted by the chain effect of Deepseek, as the market previously undervalued Chinese technology companies, which are currently recovering. Additionally, recent news from Chinese tech companies has also lifted market sentiment, such as Apple's collaboration with Alibaba in the AI field, BYD's launch of smart driving solutions, and CATL's upcoming listing in Hong Kong, all of which have attracted significant capital inflow.
Geoff Howie, a market strategist at the Singapore Exchange, analyzed that year-to-date, the total return of the Straits Times Index has reached 2.6%, while the average return of the three local banks is 3.9%. However, the total return of the iEdge S-REIT Index has decreased by 0.6%. &#34;The increasingly hawkish outlook for the federal funds rate has become an overarching theme.&#34;
Nanofilm announced last Saturday (15th) that it has completed the acquisition of all shares of EC Europ Coating GmbH and MC Europ Coating GmbH held by Burkhard Scholz
According to the announcement previously released by Nafeng Technology, the acquisition price is approximately €3.07 million (about SGD 4.3 million). The company's stock price fell 0.69% to SGD 0.72 last Friday.
For the full year of 2024, UOI's net profit slightly increased by 2% to SGD 29.8 million, insurance revenue increased by 20% to SGD 113.5 million, insurance service expenses increased by 63% to SGD 64 million, and net insurance service and financial performance fell by 14% to SGD 19.5 million. UOI's stock price rose 0.7% last Friday, closing at SGD 7.15.
This week, multiple companies will release their earnings, becoming the focus of attention. Among the constituents of the Straits Times Index, UOB will announce its earnings before the market opens on Wednesday (19th), while Olam International, Genting Singapore, and Singapore Airlines will announce after the market closes. Hatten Land will announce before the market opens on Friday (21st), and NexGroup and startups will announce after the market closes. Additionally, this week will also see numerous financial reports from real estate investment trusts.
&#34;The recovery of the Hong Kong stock market has also somewhat boosted trading enthusiasm in the Singapore stock market, as five large-cap stocks from Hong Kong are listed in Singapore through Singapore Depository Receipts (SDR), and we saw many local investors trading these stocks last week.&#34;
Driven by strong performances from blue-chip stocks and positive news in the oil and gas sector, the Straits Times Index maintained a solid performance last week, rising 0.4% for the week, closing at 3,877.50 points last Friday (February 14). Analysts believe that the overall performance of the index is strong, and a series of blue-chip stocks will announce their earnings this week, potentially bringing new catalysts to the stock market.
<h3>Hong Kong Stock Market Boosted by Deepseek's Chain Reaction</h3>
Oxley Holdings released its half-year financial results for the period ending last year, showing a net profit of SGD 2.14 million for the first half of the year, compared to a net loss of SGD 1.08 million in the same period last year. Total revenue for the first half was SGD 11.525 million, a decrease of 30% year-on-year, mainly due to the completion of projects developed in Singapore in the previous financial year, leading to a 40% decline in the group's real estate development revenue. The group's stock price was SGD 0.069 last Friday, unchanged.
In terms of individual stock news, UOI released its earnings last Friday evening, reporting a 10% year-on-year decline in net profit for the second half of 2024 to SGD 15.6 million. The board announced a final dividend of SGD 0.085 per share and a special dividend of SGD 0.060 per share, bringing the total dividend for the 2024 fiscal year to SGD 0.23, higher than SGD 0.21 a year earlier

Last week, the FTSE Straits Times Index rose by 0.4%, reaching a historic high of 3921.20 points, driven by the performance of blue-chip stocks and oil and gas stocks. Several blue-chip companies will announce their earnings this week, which may bring new catalysts to the market. OUE issued a profit warning, expecting a loss for the fiscal year 2024, mainly due to losses from joint ventures and real estate investments. DBS's performance boosted bank stocks, but there was a correction in the latter half of the week

Zaobao

FTSE Straits Times Index

Oxley

Seatrium

Wilmar

ISHARESHSI

Apple

Hoe Leong

Venture

Genting Sing

DeepSeek

SATS

CATL

Hang Seng Index

BYD COMPANY

Nanofilm

BABA-W

The Shanghai Composite Index reached a new high last week, and this week, the performance of several blue-chip stocks is under scrutiny