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STI Dips 0.25% to 5,714.84 as Hongkong Land Slides 5.98%, Property Complex Weighs

· Longbridge Singapore

The Straits Times Index fell 14.18 points, or 0.25%, to close at 5,714.84 on Tuesday, pulling back from Monday's finish of 5,729.02. The index traded between an intraday high of 5,740.60 and a low of 5,696.72, with decliners outnumbering advancers 20 to 7 and three constituents unchanged. The pullback itself, however, stayed shallow relative to how lopsided the vote count was.

Property-linked names bore the brunt of Tuesday's selling, with Hongkong Land, Jardine Matheson and City Developments among the session's deepest losers, a day after City Developments' sharp slide on its strategic-review announcement. The three local banks, which had driven Monday's synchronized advance, split again Tuesday — DBS and UOB held little changed to higher while OCBC eased — cushioning the broader index even as the number of declining stocks swelled.

Session Movers

DFI Retail Group (D01.SG, +1.25%) rose to $3.24, extending a recovery after a volatile stretch that included two separate one-day drops of more than 3% earlier this month. The stock remains well below DBS's Sept. 9 reiterated Buy rating and $5.00 target; the wider Street consensus, at Strong Buy with a $5.04 target, implies more than 55% upside from current levels — one of the widest gaps on the board. Shares trade at 0.5 times sales, cheaper than 98% of the past year.

DBS (D05.SG, +0.35%) edged up to $78.38, one of two banks to hold gains a day after all three closed higher together. The lender said it has expanded its 18-year partnership with wealth-tech platform Avaloq under a new memorandum of understanding, adding joint learning programmes and cross-functional exchanges as part of a push to grow retail assets under management to S$1 trillion by 2030. The stock trades at 3.16 times book, cheaper than just 0.15% of the past five years, against a consensus Buy rating and a $78.13 target essentially in line with Tuesday's close.

CapitaLand Ascendas REIT (A17U.SG, -1.31%) fell to $2.26, with no fresh company disclosure Tuesday. The most recent catalysts remain DBS's Sept. 23 reiterated Buy rating and $2.90 target, and a filing showing BlackRock's deemed stake rose to 7.12% from 6.96%, driven mainly by additional units held as collateral rather than a new directional position. The REIT trades at 0.98 times book, cheaper than 99.77% of the past five years, against a consensus Strong Buy rating and a $3.06 target.

Hongkong Land (H78.SG, -5.98%) was the session's sharpest decliner, falling to $8.02 with no new company disclosure. The stock gave back part of the gains built on Morgan Stanley's Sept. 17 Overweight call, which named Hongkong Land among landlord stocks it prefers over developers as added Northern Metropolis housing supply is unlikely to shift near-term dynamics, and the company's own Sept. 16 statement backing Hong Kong's policy address and pledging an active role in the Central district's renewal. Shares trade at 0.58 times book, cheaper than 22.61% of the past year, against a consensus Buy rating and a $10.20 target, more than 27% above Tuesday's close.

SGX Most Watched Today · 2026-09-29

One point worth noting

Tuesday's decliners outnumbered advancers by nearly three to one — 20 against 7, with three unchanged — yet the index gave up just 0.25%. The mismatch traces to weighting: DBS and UOB, among the benchmark's heaviest constituents, were little changed to higher, cushioning the index, while the session's damage concentrated in lighter-weighted property names — Hongkong Land's 5.98% slide was more than eight times the size of DBS's 0.35% gain. It is a pattern that has recurred repeatedly this quarter, where a lopsided vote count understates, or overstates, the index's actual move.

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

STI跌0.25%收报5,714.84点,香港置地重挫5.98%拖累地产板块

· 长桥新加坡

海峡时报指数周二收跌14.18点,跌幅0.25%,报5,714.84点,较周一收盘的5,729.02点回落。指数盘中一度上探5,740.60点高位、下探5,696.72点低位,全场30只成分股中20只下跌、7只上涨、3只持平,跌家数明显占优。不过相对于如此悬殊的涨跌比例,指数本身的回调幅度其实并不大。

地产类股是周二抛售的重灾区,香港置地、怡和洋行、城市发展跌幅居前,此前一个交易日城市发展刚因公布战略检讨结果而重挫。此前带动周一三行同步上涨的三大银行本交易日再度分化——星展银行、大华银行走平偏涨,华侨银行转跌——在跌家数明显扩大的同时,仍为大盘提供了一定缓冲。

个股焦点

牛奶国际(DFI Retail,D01.SG,+1.25%)收报3.24新元,延续近期的修复走势,此前本月内曾两次单日重挫逾3%。该股股价仍明显低于星展银行9月9日重申的「买入」评级及5.00新元目标价;市场整体共识评级「强烈买入」,目标价5.04新元,隐含逾55%的上行空间,为板块内差距最大的个股之一。该股现市销率0.50倍,比过去近1年98%的时间更便宜。

星展银行(DBS,D05.SG,+0.35%)收报78.38新元,是三行同步上涨一日后,仅有的两只维持涨势的银行股之一。公司披露已通过一份新谅解备忘录扩大与财富科技平台Avaloq长达18年的合作,新增联合培训项目及跨部门交流,助力将零售管理资产规模在2030年前提升至1万亿新元。该股现市净率3.16倍,比过去近5年仅0.15%的时间更便宜,共识评级「买入」,目标价78.13新元,与周二收盘价基本持平。

腾飞房产信托(CapitaLand Ascendas REIT,A17U.SG,-1.31%)收报2.26新元,周二无新增公司披露。最近的相关消息仍是星展银行9月23日重申的「买入」评级及2.90新元目标价,以及贝莱德披露的视同持股比例由6.96%上调至7.12%,主要因作为抵押品持有的单位增加,而非新增方向性押注。该REIT现市净率0.98倍,比过去近5年99.77%的时间更便宜,共识评级「强烈买入」,目标价3.06新元。

香港置地(Hongkong Land,H78.SG,-5.98%)是当天跌幅最深的个股,收报8.02新元,无新增公司披露。该股回吐了部分此前积累的涨幅——此前摩根士丹利9月17日发布报告,将本地地产行业评级定为「有吸引力」,认为北部都会区新增供应短期内难改现有供需格局,并将香港置地列为其偏好的「收租股」之一;公司自身也在9月16日表态支持香港2026年施政报告,承诺积极参与中环重建。该股现市净率0.58倍,比过去近1年22.61%的时间更便宜,共识评级「买入」,目标价10.20新元,较周二收盘价高逾27%。

坡股今日人气榜 · 2026-09-29

一个值得注意的点

周二全场跌家数与涨家数之比接近3:1——20跌对7涨,另有3只持平——但指数仅收跌0.25%。这一背离源于权重结构:星展银行、大华银行作为指数内权重最大的成分股之一,本交易日走平偏涨,为大盘提供缓冲,而当天的跌幅则集中在权重较轻的地产类股——香港置地5.98%的跌幅,是星展银行0.35%涨幅的逾8倍。这也是本季度反复出现的模式:悬殊的涨跌家数比,并不总能准确反映指数实际的涨跌幅度。

本文仅供参考,不构成任何投资建议。

STI跌0.25%收盤報5,714.84點,香港置地重挫5.98%拖累地產板塊

· 長橋新加坡

海峽時報指數週二收跌14.18點,跌幅0.25%,報5,714.84點,較週一收盤的5,729.02點回落。指數盤中一度上探5,740.60點高點、下探5,696.72點低點,全場30檔成分股中20檔下跌、7檔上漲、3檔持平,跌家數明顯占優。不過相對於如此懸殊的漲跌比例,指數本身的回調幅度其實並不大。

地產類股是週二拋售的重災區,香港置地、怡和洋行、城市發展跌幅居前,此前一個交易日城市發展才因公布戰略檢討結果而重挫。此前帶動週一三檔同步上漲的三大銀行本交易日再度分化——星展銀行、大華銀行走平偏漲,華僑銀行轉跌——在跌家數明顯擴大的同時,仍為大盤提供了一定緩衝。

個股焦點

牛奶國際(DFI Retail,D01.SG,+1.25%)收報3.24新元,延續近期的修復走勢,此前本月內曾兩度單日重挫逾3%。該股股價仍明顯低於星展銀行9月9日重申的「買入」評等及5.00新元目標價;市場整體共識評等「強烈買入」,目標價5.04新元,隱含逾55%的上行空間,為板塊內差距最大的個股之一。該股現市銷率0.50倍,比過去近1年98%的時間更便宜。

星展銀行(DBS,D05.SG,+0.35%)收報78.38新元,是三檔銀行股同步上漲一日後,僅有的兩檔維持漲勢的銀行股之一。公司披露已透過一份新諒解備忘錄擴大與財富科技平台Avaloq長達18年的合作,新增聯合培訓專案及跨部門交流,助力將零售管理資產規模於2030年前提升至1兆新元。該股現市淨率3.16倍,比過去近5年僅0.15%的時間更便宜,共識評等「買入」,目標價78.13新元,與週二收盤價基本持平。

騰飛房產信託(CapitaLand Ascendas REIT,A17U.SG,-1.31%)收報2.26新元,週二無新增公司揭露。最近的相關消息仍是星展銀行9月23日重申的「買入」評等及2.90新元目標價,以及貝萊德揭露的視同持股比例由6.96%上調至7.12%,主要因作為抵押品持有的單位增加,而非新增方向性押注。該REIT現市淨率0.98倍,比過去近5年99.77%的時間更便宜,共識評等「強烈買入」,目標價3.06新元。

香港置地(Hongkong Land,H78.SG,-5.98%)是當天跌幅最深的個股,收報8.02新元,無新增公司揭露。該股回吐了部分此前累積的漲幅——此前摩根士丹利9月17日發布報告,將本地地產行業評等定為「具吸引力」,認為北部都會區新增供應短期內難改現有供需格局,並將香港置地列為其偏好的「收租股」之一;公司自身也於9月16日表態支持香港2026年施政報告,承諾積極參與中環重建。該股現市淨率0.58倍,比過去近1年22.61%的時間更便宜,共識評等「買入」,目標價10.20新元,較週二收盤價高逾27%。

坡股今日人氣榜 · 2026-09-29

一個值得注意的點

週二全場跌家數與漲家數之比接近3:1——20跌對7漲,另有3檔持平——但指數僅收跌0.25%。這一背離源於權重結構:星展銀行、大華銀行作為指數內權重最大的成分股之一,本交易日走平偏漲,為大盤提供緩衝,而當天的跌幅則集中在權重較輕的地產類股——香港置地5.98%的跌幅,是星展銀行0.35%漲幅的逾8倍。這也是本季度反覆出現的模式:懸殊的漲跌家數比,並不總能準確反映指數實際的漲跌幅度。

本文僅供參考,不構成任何投資建議。