--- title: "SG Morning Brief｜STI, DBS Hit Records as Fed Hike Bets Rise" type: "News" locale: "en" url: "https://longbridge.com/en/news/297572937.md" description: "The STI closed at a record 5,755.36 (+0.97%) on Monday as DBS, OCBC and UOB rallied. US stocks were mixed overnight, with Fed hike odds near 64% ahead of Friday's payrolls and Broadcom's earnings." datetime: "2026-09-01T00:10:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/297572937.md) - [en](https://longbridge.com/en/news/297572937.md) - [zh-HK](https://longbridge.com/zh-HK/news/297572937.md) generator: "portal-rs" --- # SG Morning Brief｜STI, DBS Hit Records as Fed Hike Bets Rise ### Key Points • **STI closed at a record 5,755.36 (+0.97%)** on Monday, powered by all three local banks. • **DBS rose 1.6% to a record S$77.40**; OCBC added 1.5% and UOB gained 1.9%. • **US stocks were mixed overnight** — S&P 500 -0.30%, Nasdaq flat, Dow -0.65%. • **Watch Friday's August payrolls (8.30pm SGT)** and Wednesday's Broadcom earnings. ### Singapore Open The Straits Times Index ended Monday at an all-time closing high of **5,755.36, up 0.97%**, topping the prior record of 5,754.17 set on Aug 11. The banks did the heavy lifting. **$DBS (D05.SG)$** climbed 1.6% to a record **S$77.40**; **$OCBC (O39.SG)$** rose 1.5% to **S$31.52**; and **$UOB (U11.SG)$** added 1.9% to **S$41.56**. Together the trio accounts for more than half the index's weighting, so their momentum remains the STI's main swing factor. Beyond banks, **$Singtel (Z74.SG)$** edged up 0.4% to **S$4.54**, while **$Singapore Airlines (C6L.SG)$** slipped 1.5% to **S$6.79** and underperformed as crude rallied — jet fuel is a direct cost line for the carrier. ### Singapore Macro Local growth is strong, but the inflation direction is turning. The Ministry of Trade and Industry lifted its **2026 GDP forecast to 4.5–5.5%** (from 2–4%) in August, after the economy expanded **5.9% year-on-year in Q2** on AI-driven semiconductor demand. Meanwhile **MAS has turned more hawkish**: after tightening in April, it raised the pace of SGD NEER appreciation again in July and now projects **core inflation to rise in Q3** before stepping down in the second half of 2027. The chain matters for SGX investors: higher energy prices are feeding into transport and goods inflation, which keeps MAS in tightening mode and supports the Singapore dollar. That is broadly positive for banks' asset quality and net-interest income, but it raises funding costs for REITs and rate-sensitive yield plays — a split worth tracking as oil holds near its highs. ### US Overnight Wall Street was mixed on Monday. The **S&P 500 fell 0.30% to 7,670.50**, the **Nasdaq Composite was roughly flat (+0.05%)**, and the **Dow dropped 0.65% to 53,157**. The **10-year Treasury yield rose about 2 bps to 4.76%** as traders braced for a more hawkish Fed. With core PCE inflation at 3.7% and new chair Kevin Warsh signalling a bias to act, markets now price roughly **64% odds of a September hike**. **$Tesla (TSLA.US)$ +5.5%** — one of the S&P 500's biggest gainers ahead of Thursday's Cybercab robotaxi event in Austin. The two-seat, no-pedal vehicle is expected to be priced under US$30,000, though analysts caution the event may carry more hype than new substance. **$Amazon (AMZN.US)$ -3%** — the FTC and 22 states are suing over its ad-auction practices, alleging hidden fees that inflated merchant costs by up to 50%. It is the agency's third major case against the company. **$Nvidia (NVDA.US)$ +1.5%** — the AI bellwether held firm at US$220.78, keeping the chip complex supported. Singapore's electronics exporters remain the clearest local read-through. ### Asia Pre-Market US equity futures were little changed in early Asian trade Tuesday as investors digested Monday's soft close and looked to Friday's payrolls. **WTI crude held near US$85.60 a barrel, up about 2.6%**, after the latest flare-up in US-Iran tensions and ahead of President Trump's Tuesday meeting with oil executives. **Gold slipped 0.9% to about US$4,490 an ounce**, while **Bitcoin traded around US$78,800**. Firm oil is the key signal for the Singapore open: it supports energy names while pressuring airlines and consumer margins. ### This Week's US Earnings and Economic Calendar Earnings this week: **$Broadcom (AVGO.US)$** reports fiscal Q3 on Wednesday after the US close (Thu, 5.00am SGT) — consensus **$3.24 EPS on about US$29.4 billion in revenue**; **$Lululemon (LULU.US)$** reports Thursday post-market (consensus $1.80 EPS); **$Palo Alto Networks (PANW.US)$** and **$NIO (NIO.US)$** report Tuesday. **Spotlight — Broadcom:** the custom-silicon and networking giant guided fiscal Q3 revenue to about US$29.4 billion, up 84% year-on-year, with AI semiconductor revenue around US$16 billion (up more than 200%). The bar is high after Nvidia's strong quarter, and results land the same week as the jobs report, so the read on AI capex and rates hits in one window. Economic data: **ADP private payrolls** (Wed, 8.15pm SGT) and the main event, **August nonfarm payrolls** (Fri, 8.30pm SGT) — consensus roughly 55,000–60,000 after July's surprise 23,000-job decline, with unemployment seen ticking to 4.2%. A hot print would firm September hike bets; a soft one would ease pressure. ### One More Thing The market is pricing two conflicting risks at once — a booming AI economy and a re-accelerating inflation cycle that pushes central banks to hike. That tension is why record-high bank shares and a 4.76% 10-year yield can coexist. The practical question for your portfolio is not bull versus bear, but whether you are positioned for a rising-rate regime: financials and energy generally benefit, while long-duration REITs and unprofitable growth stocks face the sharper squeeze. *Sources: SGX Market Data; The Straits Times; MTI; MAS; CNBC; AlphaStreet. This briefing is compiled with AI assistance from market data and wire reports, and reviewed by the Longbridge editorial team before publication.* *This briefing is for informational purposes only and does not constitute investment advice.* ### Related Stocks - [DBSDY.US](https://longbridge.com/en/quote/DBSDY.US.md) - [UOVEY.US](https://longbridge.com/en/quote/UOVEY.US.md) - [O39.SG](https://longbridge.com/en/quote/O39.SG.md) - [U11.SG](https://longbridge.com/en/quote/U11.SG.md) - [D05.SG](https://longbridge.com/en/quote/D05.SG.md) - [STI.SG](https://longbridge.com/en/quote/STI.SG.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [Z74.SG](https://longbridge.com/en/quote/Z74.SG.md) - [C6L.SG](https://longbridge.com/en/quote/C6L.SG.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [AVGO.US](https://longbridge.com/en/quote/AVGO.US.md) - [LULU.US](https://longbridge.com/en/quote/LULU.US.md) - [PANW.US](https://longbridge.com/en/quote/PANW.US.md) - [NIO.US](https://longbridge.com/en/quote/NIO.US.md) - [SGAPY.US](https://longbridge.com/en/quote/SGAPY.US.md) - [S59.SG](https://longbridge.com/en/quote/S59.SG.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) - [NIO.SG](https://longbridge.com/en/quote/NIO.SG.md) - [09866.HK](https://longbridge.com/en/quote/09866.HK.md) ## Related News & Research - [DBS raises STI year-end target to 5,850 after earnings lift](https://longbridge.com/en/news/297846080.md) - [Straits Times Index Keeps Constituents Unchanged in September Review](https://longbridge.com/en/news/297913784.md) - [DBS, Thailand’s ttb form wealth management partnership for retail investors](https://longbridge.com/en/news/297498415.md) - [UOB Private Bank appoints UBS’ Dominique Boer as Asean market head](https://longbridge.com/en/news/297585088.md) - [23:02 ETUOB émet 1 milliard d'euros d'obligations sécurisées à deux tranches](https://longbridge.com/en/news/297258315.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**