Stock Market Today
| 6 February 2026
Recent Podcasts:
Netflix Inc. – Content, ads, and scale drive the next leg of growth
The Walt Disney Company – Streaming Turns Profitable
Nvidia 3Q26 Results
Trade of The Day
Analyst: Zane Aw
(Current Price: S$0.925) – TECHNICAL BUY
Buy price: S$0.925 Stop loss: S$0.860 (-7.02%)
Take profit: S$1.01 (+9.18%)
Trades Initiated in Past Week
The Singapore blue-chip barometer rose 0.2% or 10.37 points to close at 4,975.87. The iEdge Singapore Next 50 Index gained 0.3% or 4.21 points, ending the day at 1,502.39.
The Dow Jones Industrial Average shed about 592.58 points, or 1.20%, ending at 48,908.72. The S&P 500 lost 1.23%, closing at 6,798.40 and landing in negative territory for the year. The Nasdaq Composite declined 1.59% and settled at 22,540.59.
Singapore Technical Highlights
TOP 5 GAINERS & LOSERS
Events Of The Week
SG
CICT‘s 2HFY2025 DPU was up 9.4% YoY to 5.96 cents; full-year payout at 11.58 cents .
Singtel to open Brazil sales office to better serve MNCs’ digital needs.
First Reit H2 DPU falls 10.3% to S$0.0104 on weaker rupiah and yen .
Elite UK REIT signs GBP24.3 million for new lease agreements for properties occupied by UK’s Department for Work and Pensions (DWP).
Offer for Low Keng Huat turns unconditional with 95.5% of shares secured.
AcroMeta enters into binding term sheet on the proposed sale of engineering subsidiary for $1.4 mil.
Singapore Paincare Holdings expects net loss for 1HFY2026.
Singapore retail sales growth eases to 2.7% YoY in December, far short of 8% forecast.
US
Hims and Hers Health stock surges as Wegovy pill copy offered at $49 per month, Novo Nordisk’s shares fall.
Reddit forecasts strong revenue of US$600mn in 1Q26e as AI tools drive ad sales, above analysts’ average estimate of $577.2 million.
Amazon.com Inc. said it plans to spend US$200 billion this year on data centers, chips and other equipment, a 54% increase YoY.
Airbus predicts the Asia-Pacific aviation services market will grow at a 5.2% compound annual rate through 2044, reaching $138.7 billion.
Roblox forecast fiscal 2026 bookings above Wall Street expectations on Thursday, signaling another year of strong growth in player spending and engagement.
Spotify said it will begin selling physical books on its streaming platform through a partnership with online retailer Bookshop.org.
Taiwan Semiconductor Manufacturing Co (TSMC) plans to make advanced three-nanometre chips in Japan.
Trump, Xi discuss Taiwan and trade ahead of planned face-to-face meeting in April.
US jobless claims top all estimates in a week affected by weather, increasing by 22,000 to 231,000 in the final week on January.
Source: SGX Masnet, Bloomberg, Channel NewsAsia, Reuters, CNBC, WSJ, The Business Times, The Edge Singapore, PSR
RESEARCH REPORTS
Singapore Exchange Limited – Core volumes overtake yield headwinds
Recommendation: ACCUMULATE; TP S$18.30; Last close: S$17.6400; Analyst Glenn Thum
- 1HFY26 revenue and earnings met our estimates, at 51%/50% of FY26e. Core operating revenue growth (+6% Equities, +14% FICC) offset the drag from Treasury income (-14%). Interim quarterly DPS increased by 22% YoY to 11 cents, with 1HFY26 DPS at 21.75 cents (+21% YoY). SGX has maintained its guidance to increase DPS by 0.25 cents per quarter until FY28.
- FICC grew by 14% YoY, led by continued growth in commodity and currency derivatives volumes and higher OTC FX revenue. Equities revenue rose (+6% YoY) from a surge in SDAV partially offset by lower equity derivatives volumes. Treasury income pulled down earnings momentum (-14% YoY) from lower average yields on margin deposits as interest rates declined.
- Maintain ACCUMULATE with a higher target price of S$18.30 (prev. S$16.90). Our FY26e estimates remain unchanged. Our target price is pegged to +2SD of its 5-year mean, or 28x P/E FY26e (Figure 1), up from 26x P/E. We expect SGX to maintain stable growth from its OTC FX business pillars, driven by digitalization and platform stickiness. As these pillars scale, SGX will increasingly benefit from operating leverage. Additionally, Equity Market Development Programme (EQDP) inflows, Trump administration trade policy uncertainty, and the Fed’s monetary easing cycle will continue to boost volumes in 2026. While falling rates create a treasury headwind, operating leverage from rising SDAV will be the driver of earnings.
Market Journal articles powered by PhillipGPT
Magnificent 7 Stocks Remain Resilient Amid AI Financing Concerns
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PSR Stocks Coverage
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