STI Falls 0.84% to 5,695.24 as Banks, Property Names Lead Broad Decline; Sembcorp Industries Bucks the Slide

Tuesday, 18 August 2026 · Longbridge Singapore

The Straits Times Index closed at 5,695.24 on Tuesday, down 48.35 points, or 0.84%, after trading between an intraday low of 5,686.51 and a high of 5,738.74, finishing near the session's low. Decliners led advancers 19 to 7 among the benchmark's 30 constituents, with four unchanged, as banking and property-linked counters accounted for most of the day's weakest performers.

The slide traced back to a soft regional lead: the Hang Seng Index opened down 0.97% on Tuesday following an overnight retreat on Wall Street, and the STI itself opened 0.97% lower at 5,712.68 before extending losses through the session. Early declines were concentrated in Singapore Exchange, CapitaLand Investment and OCBC, while a handful of energy and industrial names — City Developments, Sembcorp Industries and Seatrium among them — moved against the tide. The pattern held through the close: banks and property names dominated the day's laggards even as a small group of energy-linked counters bucked the broader retreat.

Session Movers

Sembcorp Industries (U96.SG, +1.84%) was the session's best-performing large-cap constituent, extending Monday's gain on continued attention to its Indian renewable-energy unit, Sembcorp Green Infra, which is preparing to list in India and raise about $500 million with Temasek's backing — its second attempt at an India listing, with a draft filing possible as early as this month. The stock has also drawn reaffirmed Buy calls from CGS International on Aug. 15 and DBS on Aug. 14, even after its removal from the MSCI Singapore Index on Aug. 13. Sembcorp Industries trades at 17.77 times earnings, roughly in line with its industry peer median, with a consensus Buy rating and an S$6.63 target implying about 9% upside from current levels.

Singapore Airlines (C6L.SG, -1.27%) fell despite July operating data released Tuesday showing group passenger traffic up 2.6% year-on-year to 3.7 million travellers, with capacity up 5.5% on network expansion across East Asia, Europe and the South West Pacific and an 86% load factor. Cargo told a weaker story: capacity fell 1.5% amid maintenance issues, and services to Jeddah and Dubai remained suspended because of regional conflicts. Shares closed at S$7.01, just below the S$7.05 consensus target analysts set a day earlier, with a Hold rating unchanged since the group's quarterly loss despite record revenue drew scrutiny earlier this month.

DBS (D05.SG, -1.51%) closed at S$75.72, giving back part of Monday's rally that had briefly pushed the stock above its consensus target. There was no single stock-specific trigger: DBS was one of three lenders, alongside OCBC and UOB, providing a S$530 million green loan to data-centre developer DayOne for its first Singapore facility, and was named sole adviser on a new sustainability financing framework for Centurion Corporation. OCBC and UOB also fell, down 1.9% and 0.61% respectively, a rare session in which all three local banks declined together rather than diverging as they had for most of the past two weeks. DBS trades at 3.11 times book, above its industry peer median of 1.37 and cheaper than just 0.08% of its own five-year range.

Hongkong Land (H78.SG, -2.91%) was the session's weakest constituent, extending losses within a broader property-sector pullback that also dragged CapitaLand Investment down 2.55%. There was no fresh company disclosure; the stock's recent coverage remains split, with one valuation narrative pointing to a premium to the current price and a separate discounted-cash-flow estimate suggesting the shares are overvalued. Hongkong Land trades at 0.585 times book — above its own one-year range and cheaper than just 17.24% of the past year — with a consensus Buy rating and an S$10.16 target implying about 22% upside.

One point worth noting

Breadth confirmed Tuesday's decline rather than diverging from it: 19 of the index's 30 constituents fell against seven advancers, the same direction as the index for the fifth time in the last six sessions — only Aug. 13, when the index closed almost flat despite nineteen decliners, broke that pattern. That makes Tuesday's slide broader-based than Monday's advance, which had rested on a narrower set of energy and infrastructure gainers.

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

STI收报5,695.24点跌0.84%，银行、地产股领跌，胜科工业逆势上涨

2026年8月18日星期二 · 长桥新加坡

海峡时报指数周二收报5,695.24点，跌48.35点，跌幅0.84%，全天在5,686.51至5,738.74点之间震荡，收盘接近全日低点。30只成分股中19只下跌、7只上涨、4只持平，下跌家数明显领先，银行与地产类股是当天表现最弱的板块。

这轮下跌与区域走势偏弱有关：受隔夜美股回落影响，恒生指数周二开盘跌0.97%，海峡时报指数同步低开0.97%至5,712.68点，随后跌幅进一步扩大。开盘阶段新加坡交易所、凯德投资、华侨银行等跌幅居前，仅城市发展、胜科工业、胜科海事等少数能源与工业类股逆势上涨。收盘时这一格局大致延续：银行与地产股主导跌幅榜，仅少数能源相关个股逆势走强。

个股焦点

胜科工业（Sembcorp Industries，U96.SG，+1.84%）是当天表现最佳的大盘蓝筹股，延续周一以来的涨势，市场持续关注其印度可再生能源子公司Sembcorp Green Infra筹备在印度上市、计划募资约5亿美元，由淡马锡支持，这将是该子公司第二次尝试上市，最快本月提交上市申请草案。此前建银国际（CGS International）8月15日、星展银行8月14日均重申「买入」评级，尽管该股8月13日已被剔除出MSCI新加坡指数。胜科工业目前市盈率17.77倍，大致贴近行业中位数，共识评级「买入」，目标价6.63新元，较现价约有9%上行空间。

新加坡航空（Singapore Airlines，C6L.SG，-1.27%）下跌，尽管公司周二公布7月营运数据显示，集团客运量同比增长2.6%至370万人次，运力因东亚、欧洲及西南太平洋航线扩张增长5.5%，客座率达86%；但货运方面表现较弱，因维修问题货运运力下降1.5%，且往吉达和迪拜的航班仍因地区冲突而暂停。股价收报7.01新元，略低于分析师前一日刚设定的共识目标价7.05新元，评级维持「持有」，此前该公司在营收创纪录背景下仍出现季度亏损，一度引发市场关注。

星展银行（DBS，D05.SG，-1.51%）收报75.72新元，回吐周一涨势的部分涨幅，此前该涨势曾一度将股价推高至共识目标价之上。当天并无单一的个股层面催化剂：星展银行与华侨银行、大华银行共同向数据中心开发商DayOne提供5.30亿新元绿色贷款，用于其在新加坡的首个数据中心项目，星展银行同时获委任为胜捷企业新设可持续融资框架的独家顾问。华侨银行、大华银行当天亦分别下跌1.9%、0.61%，三大银行罕见同步下跌，而非像过去两周大多数交易日那样走势分化。星展银行目前市净率3.11倍，高于行业中位数1.37，且贵于其自身近5年99.92%的时间。

香港置地（Hongkong Land，H78.SG，-2.91%）是当天跌幅最深的成分股，延续地产板块整体走弱的态势，同期凯德投资（CapitaLand Investment）亦下跌2.55%。公司并无最新公告，市场对其估值的看法仍存分歧：一种估值叙事认为其现价存在折价空间，另一项现金流折现模型则认为股价被高估。香港置地目前市净率0.585倍，高于自身近1年区间，仅比该股近1年17.24%的时间更贵，共识评级「买入」，目标价10.16新元，较现价约有22%上行空间。

一个值得注意的点

周二的下跌得到了广度数据的印证，而非与指数走势背离：30只成分股中19只下跌、仅7只上涨，广度与指数方向一致，为最近六个交易日中第五次出现这一模式——唯有8月13日例外，当日19只个股下跌，指数却几乎收平。这意味着周二的跌势比周一的上涨更具广泛性，周一的涨势当时主要集中在少数能源与基建类股上。

本文仅供参考，不构成任何投资建议。

STI收盤報5,695.24點跌0.84%，銀行、地產股領跌，勝科工業逆勢上漲

2026年8月18日星期二 · 長橋新加坡

海峽時報指數週二收盤報5,695.24點，跌48.35點，跌幅0.84%，全天在5,686.51至5,738.74點之間震盪，收盤接近全日低點。30檔成分股中19檔下跌、7檔上漲、4檔持平，下跌家數明顯領先，銀行與地產類股是當天表現最弱的板塊。

這輪下跌與區域走勢偏弱有關：受隔夜美股回落影響，恆生指數週二開盤跌0.97%，海峽時報指數同步低開0.97%至5,712.68點，隨後跌幅進一步擴大。開盤階段新加坡交易所、凱德投資、華僑銀行等跌幅居前，僅城市發展、勝科工業、勝科海事等少數能源與工業類股逆勢上漲。收盤時這一格局大致延續：銀行與地產股主導跌幅榜，僅少數能源相關個股逆勢走強。

個股焦點

勝科工業（Sembcorp Industries，U96.SG，+1.84%）是當天表現最佳的大型權值股，延續週一以來的漲勢，市場持續關注其印度再生能源子公司Sembcorp Green Infra籌備在印度掛牌、計劃募資約5億美元，由淡馬錫支持，這將是該子公司第二次嘗試掛牌，最快本月提交上市申請草案。此前建銀國際（CGS International）8月15日、星展銀行8月14日均重申「買進」評等，儘管該股8月13日已被剔除出MSCI新加坡指數。勝科工業目前本益比17.77倍，大致貼近同業中位數，共識評等「買進」，目標價6.63新元，較現價約有9%上漲空間。

新加坡航空（Singapore Airlines，C6L.SG，-1.27%）下跌，儘管公司週二公布7月營運數據顯示，集團客運量按年增長2.6%至370萬人次，運力因東亞、歐洲及西南太平洋航線擴張增長5.5%，載客率達86%；但貨運表現較弱，因維修問題貨運運力下滑1.5%，且往吉達與杜拜的航班仍因區域衝突暫停。股價收報7.01新元，略低於分析師前一日剛設定的共識目標價7.05新元，評等維持「持有」，此前該公司在營收創紀錄背景下仍出現單季虧損，一度引發市場關注。

星展銀行（DBS，D05.SG，-1.51%）收報75.72新元，回吐週一漲勢的部分漲幅，此前該漲勢曾一度將股價推高至共識目標價之上。當天並無單一的個股層面催化劑：星展銀行與華僑銀行、大華銀行共同向資料中心開發商DayOne提供5.30億新元綠色貸款，用於其在新加坡的首個資料中心專案，星展銀行同時獲委任為勝捷企業新設永續融資架構的獨家顧問。華僑銀行、大華銀行當天亦分別下跌1.9%、0.61%，三大銀行罕見同步下跌，而非像過去兩週多數交易日那樣走勢分化。星展銀行目前股價淨值比3.11倍，高於同業中位數1.37，且貴於其自身近5年99.92%的時間。

香港置地（Hongkong Land，H78.SG，-2.91%）是當天跌幅最深的成分股，延續地產板塊整體走弱的態勢，同期凱德投資（CapitaLand Investment）亦下跌2.55%。公司並無最新公告，市場對其估值的看法仍存分歧：一種估值敘事認為其現價存在折價空間，另一項現金流折現模型則認為股價被高估。香港置地目前股價淨值比0.585倍，高於自身近1年區間，僅比該股近1年17.24%的時間更貴，共識評等「買進」，目標價10.16新元，較現價約有22%上漲空間。

一個值得注意的點

週二的下跌得到了廣度數據的印證，而非與指數走勢背離：30檔成分股中19檔下跌、僅7檔上漲，廣度與指數方向一致，為最近六個交易日中第五次出現此一模式——唯有8月13日例外，當日19檔個股下跌，指數卻幾乎收平。這意味著週二的跌勢比週一的上漲更具廣泛性，週一的漲勢當時主要集中在少數能源與基建類股上。

本文僅供參考，不構成任何投資建議。