LazyCat

The headline 72% tumble of the Singtel looks like a cause for concern but if we strip away the one-off exceptional gains from partial Bharti Airtel stake sale and the Intouch-Gulf Energy merger (in the same quarter last year), the core underlying net profit actually rose 21% from 686 million to 831 million.

This post marks the conclusion of my $YZJ Shipbldg SGD(BS6.SG) trade with the selling of the last 10% of my position yesterday (13 Aug) at 4.74.

I decided to close my position and lock in profit as funds seems to be flowing back to the US. I am still observing the current price action as it still looks ok with the closing at 4.62 today, between the upper Bollinger band and the 5EMA with an average trading volume.

$ST Engineering(S63.SG)

By lunch, ST Engineering climbed to around 10.7+ from a 10.43 open, after 5 previous side-winding sessions with long lower wicks, shaking out weak hands. let's see how it close today.

Seen to me that the renewed appetite for the US AI trade canibalises the SG stocks that are roped for picking, e.g. the banks stocks.

South Korean brokers cutting price targets for Samsung and SK Hynix on fears of cycle top is really amusing. It's like a coordinated playbook activated with a flip switch to cool the market frenzy.

In my opinion, the Jefferies downgrade and assertion that apple failed on a new all-glass design (hence unable to raise handset price amid soaring memory cost) is a market noise as this new model is just a rumour based a an apple 2019 patent. There is a newer report from Bloomberg that counters this, claiming the effort is still active for a 2027 release. So who do we trust?

The Tencent and JD earnings could likely be catalysts for the beaten down Hang Seng Tech to rally. Looking forward to a positive market reaction.

$LINK REIT(00823.HK) closed the week at 38.60, at the side-lining level of Apr-May 2026.

The price is now:

1. below the 20MA,

2. below the mid band of the Bollinger band,

3. just supported on the 60MA,

4. above the supertrend dynamic support of 37.488 (p.s. the second image should be HKD and not SGD), and

5. formed lower high and lower low (but not really much).

The $Lion-OSPL APAC Fin S(YLD.SG) closed the week with a new all time high of SGD1.58, thanks to the good results of the 3 big Singapore banks.

The price has been supported by the 5EMA since 22 Jul, and closing above the upper Bollinger band on Friday, 7 Aug with a dragonfly doji. The volume for the last 2 trading sessions were above the 20MAVOL coupled with the dragonfly doji, showed strength of the bullish price action.

I am currently not adding more units as I felt the price is a bit toppish and may take a breather.

I bought in early for $YZJ Shipbldg SGD(BS6.SG) when it bounced of it's low and added to my position when it was back to complete the double bottom. The resultant average cost is 3.505.

The trading plan was to take partial profits when it breaks the 4.00 psychological resistance level and ride the wave if the upward momentum is still intact. To achieve this, a GTC sell order was set at 4.10 for 40% of the holdings and this was triggered today.

The current surge today, with a high volume, looks promising for a continuation next week.

Before the release of the banks' results, many are concerned of the banks' elevated valuations. Exercising caution, some likely locked in profits while those with high conviction continues to accumulate from the dip. With the positive results from the banks (especially DBS and OCBC), STI's run looks sustainable.

A real good start to the banks' reporting. An assuring set of result from DBS will probably stabilise the STI and keep the optimism for the local market.

The half yearly results (ended 30 Jun 2026) for $CapLand Ascendas REIT(A17U.SG)has just been released. In a nutshell:

Gross Revenue: +6.7% YoY

Net Property Income (NPI): +6.2% YoY Distributable income: +8.6% YoY

DPU (cents): 7.482 (+0.1% Vs 1H 2025's 7.477 but -0.6% vs 2H 2025 7.528 due to enrged unit base from equity fund raising in 1H 2026)

Portfolio Occupancy: 89.1%

Aggregate leverage: 39.7%.

According to the press release, "A positive average rental reversion of 8.5% was achieved for leases that were renewed in multi-tenant buildings in 1H 2026. For FY 2026, the Manager expects average rental reversions to remain positive in the high single-digit range."

Weighted Average Lease Expiry (WALE): 4 years; ~9.6% of gross rental income is due for renewal in the remainder of FY 2026.