OCBC, SIA, Mapletree Pan Asia Commercial Trust earnings: Weekly Review with SIAS

Stocks

By Beansprout • 05 Aug 2024

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We share about OCBC, SIA and Mapletree Pan Asia Commercial Trust in the latest Weekly Market Review.

In this article

What happened?

In this week's Weekly Market Review in partnership with Securities Investors Association Singapore (SIAS), we discuss the fall in the global equity market and also share more about the following:

Watch the video to learn more about what we are looking out for this week.

The S&P 500 fell by 2.1% led by tech stocks, with the NASDAQ down by 3.3%.
The STI fell by 1.3%.
The correction is due to the US jobs data released on Friday.
US jobs data showed 114,000 jobs created, below expectations.
The unemployment rate rose to 4.3%, the highest since late 2021.
Concerns emerged about the Fed's pace in cutting interest rates, risking a recession.
The 10-year US government bond yield fell to 3.8%, the lowest this year.
There's a 78% probability of a rate cut 0.25% or 25 basis points rate cut in September.
Some investors expect a 0.5% or 50 basis points rate cut in September to spur the economy.

STI top gainers 2023 5 Aug 2024

STI Top performers:

sti top loser 5 aug 2024

STI Worst performers:

2Q24 net profit grew 13.7% year-on-year, but this was compared with a fairly weaker 2Q23 when higher credit provisions were made.
On a quarterly trend, 2Q24 net profit came in 1.9% lower than 1Q24 at S$1,944m, due to higher expenses incurred. Total income was flat quarter-on-quarter.
Interim dividend was raised by 10% to 44 cents, at an unchanged payout ratio of 50%.

SIA 1Q FY24/25 net profit fell 38.4% year-on-year to S$452m.
Operating profit was 37.7% lower year-on-year, as cost increase outweighed revenue growth.

Mapletree Pan Asia Commercial Trust's 1Q FY24/25 distribution per unit (DPU) fell 4.1% year-on-year to 2.09 cents, compared to 2.18 cents in 1Q FY23/24.
The decline in the DPU was driven largely by an increase in finance costs.
Mapletree Pan Asia Commercial Trust's 1Q FY24/25 DPU fell 8.7% compared to the DPU of 2.29 cents in the previous quarter.

STI Technical Analysis

STI dropped from 3,400 to below 3,300, using the 200-day exponential moving average as support at 3,276.
MACD indicator shows negative momentum, and RSI indicates oversold territory.
Next support level is around 3,200 points, forming an uptrend line.

Dow Jones Technical Analysis

Dow Jones fell by 1.5% last Friday, reflecting negative data.
It fell below the 20-day moving average, now using the 50-day moving average as support.
MACD indicator shows negative momentum, RSI below the 50-point neutral mark.
Next support level is the 100-day moving average at 39,139 points.

S&P 500 Technical Analysis

NASDAQ Composite Technical Analysis

NASDAQ broke below 20-day, 50-day, and 100-day moving averages, now at 16,776 points.
MACD shows no sign of convergence, indicating continued negative momentum.
RSI not yet in oversold territory, suggesting no imminent reversal.
Next support level is the 200-day moving average at 16,039 points.

Monday, 5 Aug: Paragon REIT earnings
Tuesday, 6 Aug: Venture Corp, Sembcorp Industries earnings, SIAS Corporate Connect – Lendlease REIT
Wednesday, 7 Aug: DBS earnings, Beansprout Webinar: Is the worst over for Singapore REITs?
Thursday, 8 Aug: SGX earnings
Friday, 9 Aug: Singapore National Day Public Holiday

Get the full list of Singapore stocks, REITs and ETFs with upcoming dividend payments with our dividend calendar.

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