STI Rallies 1.05% to 5,807.83 on Broad Advance; Yangzijiang Leads, Sembcorp Lags

Friday, 4 September 2026 · Longbridge Singapore

The Straits Times Index closed at 5,807.83 on Friday, up 60.12 points, or 1.05%, after touching an intraday high of 5,828.50 and a low of 5,754.11. Twenty-two of the benchmark's 30 constituents advanced against seven decliners, with one unchanged, as gains led by Yangzijiang Shipbuilding, Hongkong Land and Singtel pushed the index toward its strongest session of the week.

Gains were broad rather than concentrated in a handful of stocks. All three local banks closed higher together — DBS up 0.90%, OCBC up 1.10% and UOB up 0.65% — while developers were split: Hongkong Land added 3.26% and City Developments 1.18%, even as UOL and Jardine Matheson both slipped. Most of the REIT complex reversed Thursday's across-the-board decline, and Yangzijiang Shipbuilding's 4.66% gain made it the session's biggest mover, leaving Sembcorp Industries and Jardine C&C among the handful of decliners.

Session Movers

Yangzijiang Shipbuilding (BS6.SG, +4.66%) led the session with no fresh disclosure Friday, extending a rally that traces back to its H1 earnings report in early August, when shares jumped as much as 9.3% on strong first-half results, and the appointment of Heng Su-Ling Mae, a fellow chartered accountant, as independent non-executive director and remuneration committee chair effective mid-August. Consensus rates the stock Strong Buy with a S$5.15 target implying roughly 4% further upside, though at 10.2 times earnings — above its own five-year range and ranked fifth-priciest among 12 industry peers — some of that momentum already looks reflected in the price.

Sembcorp Industries (U96.SG, -1.13%) was among the session's weaker names with no fresh disclosure Friday. The stock continues to digest an August 27 earnings call in which the group reported a 25% year-on-year drop in H1 underlying net profit to S$369 million, weighed by weak renewables performance and Alinta-acquisition costs, even as management raised the interim dividend 22% and pointed to a stronger contribution from the newly acquired Alinta platform. Shares trade at 18.4 times earnings — richer than at any point in the past five years, the priciest multiple in its two-company industry group — leaving little cushion after last month's rally on the Indian renewable unit's IPO filing.

Singtel (Z74.SG, +1.8%) advanced after Maybank reiterated a Buy rating and S$5.21 target on Friday, citing a credible FY2030 roadmap built on Optus's recovery, growth at NCS and rising AI data-centre demand; the broker forecasts core net profit climbing from S$2.77 billion in FY2026 to S$3.58 billion in FY2028, implying an estimated total return of about 20%. The stock also continues to draw support from its buyback programme — Singtel led all SGX on-market repurchases in August at S$55.6 million for nearly 13 million shares, taking its year-to-date total to S$948.6 million, or 45% of the aggregate across primary-listed companies, part of a S$2 billion three-year shareholder-return plan.

SGX (S68.SG, +1.2%) rose after the exchange operator listed its first actively managed ETF, tracking the iEdge Singapore Next 50 Index under ticker Q50, on September 3. Managed by CGS International Securities and advised by Fullgoal Asset Management, the fund targets a S$109 billion mid-cap universe and lifts SGX's total ETF count to 54 with combined assets under management above S$21 billion; the same day, the bourse operator redeemed US$250 million of notes at maturity. Shares trade at 38.25 times earnings — cheaper than just 1.93% of the past decade — with consensus still rating the stock Hold and a S$24.15 target implying roughly 4% downside.

One point worth noting

Breadth turned decisively positive Friday: 22 of the STI's 30 constituents advanced against seven decliners and one unchanged, the widest positive spread of the past week and a sharp reversal from Thursday, when 18 of 30 fell even as the index finished barely changed. Six of the seven REIT-linked names in the basket rose together — Mapletree Logistics Trust, CICT, MPACT, Frasers Centrepoint Trust, CapitaLand Ascendas REIT and Mapletree Industrial Trust all higher — with only Frasers Logistics & Commercial Trust lower, reversing Thursday's across-the-board retreat in the complex and pointing to buying that extended well beyond the session's headline gainers.

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

STI大涨1.05%收报5,807.83点，普涨行情扩散，扬子江船业领涨、胜科工业收跌

2026年9月4日星期五 · 长桥新加坡

海峡时报指数周五收报5,807.83点，涨60.12点，涨幅1.05%，盘中一度上探5,828.50点高位、下探5,754.11点低位。30只成分股中22只上涨、7只下跌、1只持平，扬子江船业、香港置地、新加坡电信等领涨，带动指数录得本周表现最强的一个交易日。

涨势并非集中在少数个股。三大银行全线收涨——星展银行涨0.90%、华侨银行涨1.10%、大华银行涨0.65%；地产股则涨跌分化：香港置地涨3.26%、城市发展涨1.18%，但UOL与怡和洋行双双下跌。REIT板块多数扭转周四的全线下跌，扬子江船业以4.66%的涨幅成为全场表现最突出的个股，而胜科工业与怡和合发则是少数下跌个股之一。

个股焦点

扬子江船业（Yangzijiang Shipbuilding，BS6.SG，+4.66%）领涨全场，当日无新披露，延续8月初以来的涨势——此前公司发布强劲上半年财报后股价一度大涨9.3%，另有独立非执行董事Heng Su-Ling Mae（特许会计师）自8月中旬起获委任，出任薪酬委员会主席。共识评级「强烈买入」，目标价5.15新元，隐含约4%上行空间，但当前市盈率10.2倍已高于自身合理区间，在12家同业中估值排名第五贵，部分涨势或已提前反映在股价中。

胜科工业（Sembcorp Industries，U96.SG，-1.13%）是全场表现较弱的个股之一，当日无新披露。市场仍在消化8月27日的财报电话会：上半年基础净利同比下滑25%至3.69亿新元，主因可再生能源业务疲软及收购Alinta的相关成本，管理层同时将中期股息上调22%，并强调新纳入的Alinta平台将带来更强贡献。该股市盈率18.4倍，为近5年最高水平，两家同业中估值最贵，此前一个月因印度可再生能源子公司递交IPO招股书而积累的涨幅正在回吐。

新加坡电信（Singtel，Z74.SG，+1.8%）上涨，此前马来亚银行周五重申「买入」评级、目标价5.21新元，称公司2030财年路线图可信，主要驱动来自Optus业务复苏、NCS增长及AI数据中心需求；该行预计核心净利将从2026财年的27.7亿新元升至2028财年的35.8亿新元，隐含总回报约20%。公司回购计划同样提供支撑——新电信8月以5560万新元回购近1300万股，居SGX上市公司回购规模之首，年初至今回购总额达9.486亿新元，占全场回购总额45%，为其20亿新元三年期股东回报计划的一部分。

新交所（SGX，S68.SG，+1.2%）上涨，此前公司于9月3日挂牌首只主动管理型ETF——跟踪iEdge新加坡中型50指数、代码Q50，由CGS International Securities管理、富国基金（Fullgoal Asset Management）提供顾问，覆盖约1090亿新元市值的中型股板块，令新交所ETF总数增至54只、合计管理规模超过210亿新元；同日，新交所还完成2.5亿美元票据的到期赎回。该股市盈率38.25倍，比过去10年仅1.93%的时间更便宜，共识评级仍为「持有」，目标价24.15新元，隐含约4%下行空间。

一个值得注意的点

周五市场广度明显转正：30只成分股中22只上涨、7只下跌、1只持平，为近一周以来最宽的上涨面，较周四18只下跌、指数却几近持平的格局明显反转。REIT板块七只相关成分股中六只同步上涨——Mapletree Logistics Trust、CICT、MPACT、Frasers Centrepoint Trust、CapitaLand Ascendas REIT及Mapletree Industrial Trust全线走高，仅Frasers Logistics & Commercial Trust下跌，一举扭转周四REIT板块全线走软的局面，显示买盘并未局限在领涨的少数个股。

本文仅供参考，不构成任何投资建议。

STI大漲1.05%收盤報5,807.83點，普漲行情擴散，揚子江船業領漲、勝科工業收跌

2026年9月4日星期五 · 長橋新加坡

海峽時報指數週五收盤報5,807.83點，漲60.12點，漲幅1.05%，盤中一度上探5,828.50點高點、下探5,754.11點低點。30檔成分股中22檔上漲、7檔下跌、1檔持平，揚子江船業、香港置地、新加坡電信等領漲，帶動指數繳出本週表現最強的一個交易日。

漲勢並非集中在少數個股。三大銀行全線收漲——星展銀行漲0.90%、華僑銀行漲1.10%、大華銀行漲0.65%；地產股則漲跌分化：香港置地漲3.26%、城市發展漲1.18%，但UOL與怡和洋行雙雙下跌。REIT板塊多數扭轉週四的全線下跌，揚子江船業以4.66%的漲幅成為全場表現最突出的個股，而勝科工業與怡和合發則是少數下跌個股之一。

個股焦點

揚子江船業（Yangzijiang Shipbuilding，BS6.SG，+4.66%）領漲全場，當日無新揭露，延續8月初以來的漲勢——此前公司公布強勁上半年財報後股價一度大漲9.3%，另有獨立非執行董事Heng Su-Ling Mae（特許會計師）自8月中旬起獲委任，出任薪酬委員會主席。共識評等「強力買進」，目標價5.15新元，隱含約4%上漲空間，但目前本益比10.2倍已高於自身合理區間，在12家同業中估值排名第五貴，部分漲勢或已提前反映在股價中。

勝科工業（Sembcorp Industries，U96.SG，-1.13%）是全場表現較弱的個股之一，當日無新揭露。市場仍在消化8月27日的財報電話會：上半年基礎淨利同比下滑25%至3.69億新元，主因再生能源業務疲軟及收購Alinta的相關成本，管理層同時將中期股息上調22%，並強調新納入的Alinta平台將帶來更強貢獻。該股本益比18.4倍，為近5年最高水準，兩家同業中估值最貴，此前一個月因印度再生能源子公司遞交IPO招股書而累積的漲勢正在回吐。

新加坡電信（Singtel，Z74.SG，+1.8%）上漲，此前馬來亞銀行週五重申「買進」評等、目標價5.21新元，稱公司2030財年路線圖可信，主要動能來自Optus業務復甦、NCS成長及AI資料中心需求；該行預估核心淨利將從2026財年的27.7億新元升至2028財年的35.8億新元，隱含總報酬約20%。公司回購計畫同樣提供支撐——新電信8月以5560萬新元回購近1300萬股，居SGX上市公司回購規模之冠，年初至今回購總額達9.486億新元，佔全場回購總額45%，為其20億新元三年期股東回饋計畫的一部分。

新交所（SGX，S68.SG，+1.2%）上漲，此前公司於9月3日掛牌首檔主動式管理ETF——追蹤iEdge新加坡中型50指數、代碼Q50，由CGS International Securities管理、富國基金（Fullgoal Asset Management）提供顧問，鎖定約1,090億新元市值的中型股板塊，使新交所ETF總數增至54檔、合計管理規模超過210億新元；同日，新交所還完成2.5億美元票據的到期贖回。該股本益比38.25倍，比過去10年僅1.93%的時間更便宜，共識評等仍為「持有」，目標價24.15新元，隱含約4%下跌空間。

一個值得注意的點

週五市場廣度明顯轉正：30檔成分股中22檔上漲、7檔下跌、1檔持平，為近一週以來最寬的上漲面，較週四18檔下跌、指數卻幾近持平的格局明顯反轉。REIT板塊七檔相關成分股中六檔同步上漲——Mapletree Logistics Trust、CICT、MPACT、Frasers Centrepoint Trust、CapitaLand Ascendas REIT及Mapletree Industrial Trust全線走高，僅Frasers Logistics & Commercial Trust下跌，一舉扭轉週四REIT板塊全線走軟的局面，顯示買盤並未侷限在領漲的少數個股。

本文僅供參考，不構成任何投資建議。