---
title: "SG Morning Brief｜STI, DBS Rise as US Tech Diverges"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/302622870.md"
description: "Singapore shares closed higher on Wednesday, with the STI up 0.63% to 5,437.99 led by banks. US markets rose overnight on SpaceX and Meta strength, though Tesla fell on capex cuts. Today: US jobless claims and Procter & Gamble results."
datetime: "2026-10-22T00:04:28.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/302622870.md)
  - [en](https://longbridge.com/en/news/302622870.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/302622870.md)
generator: "portal-rs"
---

# SG Morning Brief｜STI, DBS Rise as US Tech Diverges

## Key Points

-   **STI snapshot:** The Straits Times Index closed at 5,437.99 on Wednesday, up 0.63% (33.97 points), with DBS, OCBC and UOB all firmer.
-   **Local catalyst:** Singtel slipped after IMDA imposed a S$1 million penalty over March outages affecting 720,000 subscribers.
-   **US overnight:** The S&P 500 rose 0.53% and the Nasdaq gained about 1.05% as SpaceX and Meta rallied; Tesla fell after hours on softer capex.
-   **Today:** US jobless claims land at 8.30pm SGT; Procter & Gamble reports before the US open.

## Singapore Open

The STI rebounded 33.97 points to close at 5,437.99 (+0.63%), led by the local banks, with gainers beating losers 334 to 214 on S$1.8 billion turnover. $DBS (D05.SG)$ closed at S$74.65 (+0.30%), $OCBC (O39.SG)$ at S$29.14 (+1.18%) and $UOB (U11.SG)$ at S$42.00 (+1.40%). $Venture (V03.SG)$ was the top blue-chip gainer, up 2.21% to S$15.75.

$Singtel (Z74.SG)$ fell 0.9% to S$4.19 after Singapore's telecom regulator, IMDA, fined the group S$1 million over March service disruptions affecting 720,000 subscribers. $Singapore Airlines (C6L.SG)$ added 0.9% to S$6.57, with elevated oil prices partly absorbed by resilient passenger demand.

## Singapore Macro

MAS kept its S$NEER policy settings unchanged on Oct 14, a surprise hold against expectations for tightening, as Q3 GDP grew 5.4% year-on-year, moderating from 6.2% in Q2. Core inflation remains elevated and MAS expects it to stay so into 2027; the central bank's chief economist has said AI-driven productivity gains could eventually justify policy easing. September non-oil domestic exports jumped 68.4%.

Path for SGX: a stable S$NEER path keeps the local rate backdrop intact for bank net-interest margins, while sticky energy-led inflation keeps SIBOR and REIT financing costs higher for longer. Separately, the banks may curb financing for firms linked to Indonesian open burning amid the haze crisis, a watch item for ESG-sensitive sectors.

## US Overnight

Wall Street closed higher on Wednesday as SpaceX's blowout results revived risk appetite. The S&P 500 rose 0.53%, the Nasdaq gained about 1.05% and the Dow added 0.64% (based on SPY/QQQ/DIA approximations). The 10-year Treasury yield held near 5.13%.

## Key Movers

**$SpaceX (SPCX.US)$ +7.7%** — Q3 revenue surged 161% to US$14.6 billion, with AI-related work now generating nearly half of sales; Citi lifted its target to US$240. Elon Musk also floated studying a potential SpaceX-Tesla merger.

**$Super Micro (SMCI.US)$** — shares jumped after the server maker raised preliminary Q1 2027 revenue guidance to US$18.5-19.5 billion, reinforcing AI-infrastructure demand.

**$Netflix (NFLX.US)$** — slipped after weaker-than-expected fourth-quarter revenue guidance, even as Q3 subscriber growth held up.

**After hours, $Tesla (TSLA.US)$ fell about 2.5%** — Q3 revenue came in at US$28.05 billion, roughly in line, but GAAP EPS of US$0.22 missed the US$0.26 consensus and net income dropped 43%. Capital spending of US$4.73 billion was far below the US$7.95 billion expected, and full-year capex was cut to US$20 billion; Robotaxi revenue is not seen until Q2 2027. **$Meta (META.US)$** rose about 2% after Q3 revenue grew 26% to US$64.6 billion and it guided Q4 to US$73-76 billion, though free cash flow turned negative on AI spending.

## Asia Pre-Market

US futures pointed lower on Thursday, with S&P 500 futures down about 0.4% and Nasdaq futures down about 0.6%, as mixed tech results and a Middle East-driven oil bounce dampened sentiment. WTI crude traded near US$99-100, up about 2%, with Brent around US$110; gold sat near US$4,145 an ounce and Bitcoin rebounded to around US$84,000-85,000. Firmer oil and sticky yields near 5.1% keep near-term attention on rate-sensitive financials and SIA's fuel costs at the open.

## Today's US Earnings and Economic Calendar

| Company                  | Timing (SGT)         | Consensus EPS |
| ------------------------ | -------------------- | ------------- |
| Procter & Gamble (PG.US) | Pre-mkt (8.30pm)     | $1.88         |
| Union Pacific (UNP.US)   | Pre-mkt (8.45pm)     | $3.47         |
| Blackstone (BX.US)       | Pre-mkt (9.00pm)     | $1.31         |
| Western Digital (WDC.US) | Post-mkt (overnight) | Unavailable   |

## Earnings Spotlight

$Procter & Gamble (PG.US)$ reports fiscal Q1 2027 before the US open, with consensus around US$1.88 EPS on US$22.8 billion revenue. The stock has rallied sharply into results, but analysts expect core EPS to fall about 6% year-on-year amid input-cost and tariff pressure. The same-day US jobless claims release at 8.30pm SGT could shape expectations into Friday's flash manufacturing and services PMIs plus the final University of Michigan sentiment reading.

| SGT          | ET      | Event                     | Consensus |
| ------------ | ------- | ------------------------- | --------- |
| Thu, 8.30pm  | 8.30am  | Initial Jobless Claims    | \~199K    |
| Thu, 10.00pm | 10.00am | CB Leading Economic Index | -0.1%     |

## One More Thing

Do not confuse a Tesla capex reset with an AI-spending unwind. Tesla's cut reflects company-specific transformation timing, with Robotaxi and Optimus not contributing until late 2027, while SMCI's guidance raise, Meta's expansion plans and reports of ByteDance, Alibaba and Tencent placing over US$35 billion in **$Nvidia (NVDA.US)$** chip orders point the other way. For SGX investors, the cleaner test is the banks' Q3 results next month — UOB on Nov 4, DBS on Nov 5 and OCBC on Nov 6 — where NIM strength will show whether the local rate story can absorb any AI spending wobble.

Sources: The Business Times, Yahoo Finance, StockTitan.

*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.*

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**