STI Dips 0.12% for a Second Session as Banks Rebound, Property and Telcos Weigh

Friday, 24 July 2026 · Longbridge Singapore

The Straits Times Index closed at 5,575.11 on Friday, down 0.12%, or 6.65 points, marking a second straight session lower since Wednesday's record close of 5,595.42. The pullback was narrow — the index moved between an intraday high of 5,582.92 and a low of 5,539.54 — and it came even as all three local banks advanced, with the drag instead concentrated in property and telecommunications counters.

The tight range suggested a market absorbing Thursday's bank-led profit-taking rather than extending it: DBS, OCBC and UOB, whose declines had driven Thursday's dip, all closed higher on Friday, adding 0.6%, 0.66% and 0.74% respectively. But the recovery in the index's largest weights was not enough to lift the broader market, as property and telecommunications names gave up more ground than the banks gained, leaving the 30-stock basket with 14 decliners against 11 advancers and five unchanged.

Session Movers

UOL Group (U14.SG, -3.09%) posted the steepest decline among Friday's movers as property counters led the session's losses, with City Developments also down 2.98% and REIT names CICT, MPACT and CapitaLand Ascendas REIT all lower. No fresh company-specific catalyst accompanied the drop: UOL confirmed on 10 July it will report first-half results on 12 August, and its most recent corporate move was a S$68.5 million deal in May to buy out UOB's remaining stake in the former Faber House. The stock trades at 0.698 times book, cheaper than about 9% of its five-year range, against a Buy consensus implying roughly 28% upside.

Singtel (Z74.SG, -1.57%) was the session's largest decliner outside the property complex, weighed down by a 15 July report describing persistently intense competition in Singapore's mobile market after a proposed merger collapsed. That overshadowed four industry recognitions the telco picked up from Frost & Sullivan on 19 July, spanning enterprise connectivity, cybersecurity and digital-transformation leadership, and its disclosure the same week of the winding-up of subsidiary Viridian Limited. Consensus rating remains Buy, with a target implying about 21% upside.

Seatrium (5E2.SG, +1.43%) advanced after confirming its first-half 2026 results will be released before market open on 31 July, giving the market a fixed date to anchor updated guidance. The gain also followed news that Kinetics, an initiative of Karpowership, began construction at Seatrium's Singapore yard of the LNGT Karadeniz, a floating storage and regasification unit with capacity of up to 600 million standard cubic feet per day, alongside a separate ABS approval for an offshore ammonia energy hub concept. The stock trades at 21.99 times earnings, cheaper than about 85% of its one-year range, against a Buy consensus implying roughly 29% upside.

UOB (U11.SG, +0.74%) rose after setting out plans to grow its Hong Kong private-bank assets under management fivefold by 2030, a target that follows its 20 July hire of banking veteran Judy Chan to lead the Hong Kong private-wealth push. The lender also began upgrading more than 300,000 Visa cards across five ASEAN markets to new Visa Infinite Privilege and Private tiers, with eligible cardholders to be notified from September. UOB trades at 1.46 times book, cheaper than just 3% of its one-year range — among the richest levels in its recent history — against a Hold consensus implying about 2% downside from current levels.

One point worth noting

Friday's -0.12% headline masked a split session: all three local banks closed higher, yet the broader 30-stock basket still finished with more decliners than advancers, at 14 against 11, as property and telecommunications names did the damage. It is the second straight session in which the index-level move has understated what was happening beneath it — Thursday's -0.24% obscured a single-stock air pocket in DFI Retail, while Friday's smaller decline reflected a broader split between a recovering bank complex, already trading near its richest valuation levels in a year, and weakness elsewhere.

This recap is for informational purposes only and does not constitute investment advice.

海指连跌两日至0.12%，银行股回稳但地产电信股拖累

2026年7月24日星期五 · 长桥新加坡

海峡时报指数周五收报5,575.11点，下跌0.12%，即6.65点，为自周三纪录收盘5,595.42点以来连续第二个交易日走低。当天走势波动区间不大——盘中最高5,582.92点，最低5,539.54点——三大银行股当天悉数上涨，跌幅集中在地产与电信板块。

指数收窄的波动区间显示市场正在消化周四银行股主导的获利了结，而非延续跌势：此前拖累周四指数的华侨银行、星展与大华银行周五集体收涨，涨幅分别为0.66%、0.6%和0.74%。但权重最大的银行股反弹，仍不足以带动大盘——地产与电信类个股跌幅超过银行股涨幅，令30只成分股中14只下跌、11只上涨、5只持平。

个股焦点

华业集团（UOL Group，U14.SG，-3.09%）是周五跌幅最深的个股，地产股当天领跌大盘——城市发展同步下跌2.98%，凯德综合商业信托（CICT）、丰树泛亚商业信托（MPACT）及凯德腾飞房地产投资信托（CapitaLand Ascendas REIT）等房地产投资信托也悉数走低。当天新闻面未见明显的个股专属催化剂：华业7月10日确认将于8月12日发布中期业绩，此前最近一次重大动作是5月以6,850万新元向大华银行收购原Faber House剩余权益。该股目前市净率0.698倍，比近5年约9%的时间便宜，分析师共识评级为「买入」，目标价较现价高约28%。

新加坡电信（Singtel，Z74.SG，-1.57%）是当日除地产板块外跌幅最大的个股，7月15日一则报道指本地移动通信市场在一宗拟议并购告吹后竞争依旧激烈，令股价承压。这掩盖了新电信7月19日刚获得的四项Frost & Sullivan 2026年大奖——涵盖企业连接、网络安全与数字化转型领导地位——以及同期披露的子公司Viridian Limited清盘一事。目前分析师共识评级为「买入」，目标价较现价高约21%。

海庭（Seatrium，5E2.SG，+1.43%）走高，公司确认将于7月31日开盘前发布2026年上半年业绩，为市场锚定了明确的指引更新时点。此前利好还包括：Karpowership旗下Kinetics在海庭新加坡船厂开工建造LNGT Karadeniz浮式储存再气化装置（FSRU），再气化能力达每日最高6亿标准立方英尺；此外公司还获美国船级社（ABS）批准海上氨能源枢纽概念。该股目前市盈率21.99倍，比近1年约85%的时间便宜，分析师共识评级为「买入」，目标价较现价高约29%。

大华银行（UOB，U11.SG，+0.74%）上涨，此前公司提出到2030年将香港私人银行资产管理规模扩大五倍的目标，此举承接7月20日聘请银行业资深人士Judy Chan领军香港私人财富业务的布局。该行同时启动为东盟五个市场逾30万张Visa卡升级至全新Visa Infinite Privilege与Private高端卡等级，符合条件的持卡人将于9月起获通知。大华银行目前市净率1.46倍，仅比近1年约3%的时间便宜——处于近期最贵水平区间——分析师共识评级为「持有」，目标价较现价低约2%。

一个值得注意的点

周五-0.12%的表面跌幅，掩盖了一场分化的交易日：三大银行股当天悉数收涨，但30只成分股中下跌家数仍多于上涨家数，14只下跌对11只上涨，跌幅主要来自地产与电信板块。这已是连续第二个交易日，指数层面的表现未能反映内部实际情况——周四-0.24%的跌幅掩盖的是DFI零售集团的单一个股气穴，周五较小的跌幅则反映了银行股回稳（且估值已处于近一年最贵区间附近）与其他板块走弱之间的分化。

本文仅供参考，不构成任何投资建议。

海指連跌兩日至0.12%，銀行股回穩但地產電信股拖累

2026年7月24日星期五 · 長橋新加坡

海峽時報指數週五收報5,575.11點，下跌0.12%，即6.65點，為自週三紀錄收盤5,595.42點以來連續第二個交易日走低。當天走勢波動區間不大——盤中最高5,582.92點，最低5,539.54點——三大銀行股當天悉數上漲，跌幅集中在地產與電信板塊。

指數收窄的波動區間顯示市場正在消化週四銀行股主導的獲利了結，而非延續跌勢：此前拖累週四指數的華僑銀行、星展與大華銀行週五集體收漲，漲幅分別為0.66%、0.6%和0.74%。但權重最大的銀行股反彈，仍不足以帶動大盤——地產與電信類個股跌幅超過銀行股漲幅，令30檔成分股中14檔下跌、11檔上漲、5檔持平。

個股焦點

華業集團（UOL Group，U14.SG，-3.09%）是週五跌幅最深的個股，地產股當天領跌大盤——城市發展同步下跌2.98%，凱德綜合商業信託（CICT）、豐樹泛亞商業信託（MPACT）及凱德騰飛房地產投資信託（CapitaLand Ascendas REIT）等房地產投資信託也悉數走低。當天新聞面未見明顯的個股專屬催化劑：華業7月10日確認將於8月12日發布中期業績，此前最近一次重大動作是5月以6,850萬新元向大華銀行收購原Faber House剩餘權益。該股目前市淨率0.698倍，比近5年約9%的時間便宜，分析師共識評等為「買入」，目標價較現價高約28%。

新加坡電信（Singtel，Z74.SG，-1.57%）是當日除地產板塊外跌幅最大的個股，7月15日一則報導指本地行動通訊市場在一宗擬議併購告吹後競爭依舊激烈，令股價承壓。這掩蓋了新電信7月19日剛獲得的四項Frost & Sullivan 2026年大獎——涵蓋企業連接、網路安全與數位轉型領導地位——以及同期披露的子公司Viridian Limited清盤一事。目前分析師共識評等為「買入」，目標價較現價高約21%。

海庭（Seatrium，5E2.SG，+1.43%）走高，公司確認將於7月31日開盤前發布2026年上半年業績，為市場錨定了明確的指引更新時點。此前利好還包括：Karpowership旗下Kinetics在海庭新加坡船廠開工建造LNGT Karadeniz浮式儲存再氣化裝置（FSRU），再氣化能力達每日最高6億標準立方英尺；此外公司還獲美國船級社（ABS）批准海上氨能源樞紐概念。該股目前本益比21.99倍，比近1年約85%的時間便宜，分析師共識評等為「買入」，目標價較現價高約29%。

大華銀行（UOB，U11.SG，+0.74%）上漲，此前公司提出到2030年將香港私人銀行資產管理規模擴大五倍的目標，此舉承接7月20日聘請銀行業資深人士Judy Chan領軍香港私人財富業務的布局。該行同時啟動為東盟五個市場逾30萬張Visa卡升級至全新Visa Infinite Privilege與Private高端卡等級，符合資格的持卡人將於9月起獲通知。大華銀行目前市淨率1.46倍，僅比近1年約3%的時間便宜——處於近期最貴水平區間——分析師共識評等為「持有」，目標價較現價低約2%。

一個值得注意的點

週五-0.12%的表面跌幅，掩蓋了一場分化的交易日：三大銀行股當天悉數收漲，但30檔成分股中下跌家數仍多於上漲家數，14檔下跌對11檔上漲，跌幅主要來自地產與電信板塊。這已是連續第二個交易日，指數層面的表現未能反映內部實際情況——週四-0.24%的跌幅掩蓋的是DFI零售集團的單一個股氣穴，週五較小的跌幅則反映了銀行股回穩（且估值已處於近一年最貴區間附近）與其他板塊走弱之間的分化。

本文僅供參考，不構成任何投資建議。