I'm LongbridgeAI, I can summarize articles.The STI closed Monday at a record 5,801.96 (+0.94%) as DBS, OCBC and UOB led. MAS lifted its 2026 GDP forecast to 5%. Friday's strong US jobs report pushed Fed rate-hike odds to 58%, sending the S&P 500 down 0.4%.
Key Points
STI at a record. The Straits Times Index closed Monday at an all-time high of 5,801.96, up 0.94% (+54.25 points), again led by the banks.
Banks drove it. DBS, OCBC and UOB — roughly 57% of the index's weight — extended their record run, with DBS around S$78, OCBC near S$32 and UOB around S$42.
US jobs shock. Friday's strong August payrolls lifted Fed rate-hike odds to 58%; the S&P 500 fell 0.4% to 7,718.60.
This week. Oracle reports Thursday post-close; August CPI lands Friday at 8.30pm SGT, days before the Sept 15-16 FOMC.
Singapore Open
The Straits Times Index finished Monday at a record 5,801.96, a gain of 0.94% or 54.25 points, with the three local banks doing the heavy lifting. $DBS (D05.SG)$ traded around S$78, $OCBC (O39.SG)$ near S$32 and $UOB (U11.SG)$ around S$42 as the trio — which together account for roughly 57% of index weight — kept climbing on wealth-management fee growth and capital-return support. $Singapore Airlines (C6L.SG)$ held near S$6.89 while $Singtel (Z74.SG)$ traded around S$4.52, and names like SGX, ST Engineering and Wilmar helped broaden the advance.
Because US markets were shut Monday for Labor Day, that record came with no fresh US lead. Today's SGX session opens before US cash trading resumes (9.30pm SGT tonight), which means Friday's hawkish jobs print is the last US signal local investors have to digest.
On the corporate calendar, a local REIT is raising at least S$625 million via a private placement scheduled for Sept 10, priced at S$2.10 a unit, with DBS, OCBC, Jefferies Singapore and UOB acting as bookrunners.
Singapore Macro
The MAS's September survey of professional forecasters lifted 2026 GDP growth to 5%, up from 3.5% in June and near the top of MTI's 4.5-5.5% official range. Headline inflation for 2026 is now seen at 2.1% (down from 2.3%) and core inflation at 1.9% (down from 2.0%), while non-oil domestic exports are projected to expand 17% year on year. Most respondents still expect no near-term change in MAS policy, but the balance of expectations has shifted toward tightening.
The transmission to SGX: a firmer growth-and-inflation mix raises the odds the MAS keeps the Singapore dollar NEER on an appreciating slope — supportive for bank net interest margins and for the SGD, but a headwind for REIT financing costs. The MAS has also flagged energy prices as the key upside inflation risk, so any renewed Middle East supply disruption would push that tightening calculus further.
What Happened While US Markets Were Shut
Over the Labor Day weekend, $NVIDIA (NVDA.US)$ announced a US$12.9 billion acquisition of open-source AI platform HuggingFace, and separately flagged roughly 70% revenue growth for FY2028 — framing supply-chain visibility across chips, memory and power as its margin of safety. $Apple (AAPL.US)$ was reported to be signing a long-term NAND supply deal with Kioxia to lock in memory amid AI data-centre demand. President Trump also threatened to ban Canada's Bombardier from US jet sales unless it builds in the US — another front in the trade dispute.
US Last Close (Friday)
Friday's session was about the jobs report: US payrolls came in more than double expectations, lifting CME FedWatch odds of a rate hike at the Sept 15-16 meeting to 58% from 49%. Treasury yields rose and equities slipped — the S&P 500 fell 0.4% to 7,718.60, the Dow lost 272 points (0.5%) to around 53,400, and the Nasdaq Composite gave back 0.3% to 26,506.99. Chips were the bright spot: the Nasdaq 100 edged up 0.2% and the PHLX Semiconductor Index rose 3.4%.
Key Movers. $NVIDIA (NVDA.US)$ +0.8% to $230.36 — the AI bellwether held up as its HuggingFace deal and FY2028 growth signal outweighed the rate repricing. $Micron (MU.US)$ +6.1% to $1,016.59 — memory names extended a rally on surging prices driven by the AI build-out. $UiPath (PATH.US)$ -16.6% to $15.19 — Q2 revenue of $410.3 million (+13% YoY) beat the $397.8 million consensus and it raised full-year guidance, but Q3 guidance implies growth slowing to 8% YoY, and a CFO transition plus a Canaccord downgrade to Hold spooked investors. Elsewhere, $Tesla (TSLA.US)$ slid 5.9% and $Apple (AAPL.US)$ fell 2.5%.
Asia Pre-Market
WTI crude held around $91 a barrel with Brent near $96, gold was around $4,405 an ounce, and Bitcoin traded near $79,470 after pulling back from the $80,500 area. US equity futures were holiday-thinned and little changed — the last E-mini S&P 500 print was around 7,710, down about 0.2%, with Nasdaq 100 futures roughly flat. The read-through for today's SGX open: rate-hike nerves from Friday's jobs report are the dominant global signal, while chip and AI momentum from Nvidia and Micron provides a partial offset.
US Earnings and Economic Calendar
Earnings. $Oracle (ORCL.US)$ — Thu Sept 10, after US close (early Friday SGT) — consensus $1.74 EPS on $19.14 billion revenue. $Adobe (ADBE.US)$ — Thu Sept 10, after US close. $Kroger (KR.US)$ — Fri Sept 11 — consensus $1.06 EPS on $34.61 billion revenue.
Economic data (SGT | ET). Thu Sept 10 — Core PPI (Aug) at 8.30pm SGT (8.30am ET); existing home sales (Aug) at 10pm SGT (10am ET). Fri Sept 11 — August CPI at 8.30pm SGT (8.30am ET), with headline seen at +3.4% y/y and core at +2.4% y/y; University of Michigan consumer sentiment (Sept, prelim) at 10pm SGT (10am ET).
Earnings Spotlight: Oracle. Oracle's Q1 FY2027 print is the week's main event for tech. Consensus sits at $1.74 EPS on $19.14 billion in revenue, with management guiding 27-29% total revenue growth and 58-64% cloud revenue growth in USD. The bull case rests on roughly $638 billion in remaining performance obligations converting into reported revenue; the bear case is capital-intensity pressure as the AI build-out accelerates. The report lands into a rate-hike debate — with CPI out Friday and the FOMC the following week, Oracle's read on AI demand will collide with the macro narrative.
One More Thing
This week runs on two opposing engines: an AI-capex re-rating (Nvidia, Micron, Oracle) and a rate-hike repricing (the broad index and rate-sensitive megacaps). For SGX, the banks sit in between — firmer rates support NIMs, but a Fed that hikes because growth is running hot could eventually cool the AI-linked export cycle that just pushed Singapore's 2026 GDP forecast up to 5%. The single most important swing factor is Friday's CPI: if it validates the 58% hike pricing, the rate side dominates; if it cools, the AI trade gets the benefit of the doubt.
Sources: SGX, Monetary Authority of Singapore, Reuters, Barron's, Oracle investor relations.
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.