Stocks and gold climb on tariff reversal: Weekly Market Recap

Chinese New Year is one of my favourite times of the year.

Every year without fail, as I catch up with family and friends, someone will ask, “So how do I earn more money this year?”

The desire to get rich quickly (马上发财) is very real.

But as I step into the new year, my own focus is a little different. I find myself thinking more about stability, especially in the Year of the Fire Horse.

For me, that means focusing on building passive income and sticking to a plan centred on long term compounding.

If you are thinking about doing the same, this week’s reads might give you a few ideas.

We share five practical ways to grow your children’s ang pow money, along with ideas to put your own ang pow cash to work.

With T bill yields expected to stay muted, many investors are once again looking at Singapore REITs for income. We break down what to watch for the Singapore REITs sector, and highlight five REITs that have managed to grow their dividends.

Gold has also been hard to ignore. It is one of the asset classes I have been adding to on dips. We discuss what has been driving gold’s rally in our latest podcast, and share what investors should keep an eye on next.

And because it is still the festive season after all, we have also rounded up a few Chinese New Year promotions.

As our latest Money Diaries guest said so well, health is wealth. Wishing you a year filled with good health, good fortune, and portfolios that support your success.

Happy growing!

Gerald, Founder of Beansprout

⏰ This Week In Markets

🏛 Trump tariffs overturned

What happened? 

The U.S. Supreme Court ruled to overturn the Trump administration’s sweeping global tariffs.

In a 6–3 decision, the justices found that the International Emergency Economic Powers Act (IEEPA) did not grant the authority claimed to impose the tariffs.

What does this mean?

Tariffs have been a central pillar of President Trump’s economic and foreign policy agenda, shaping trade tensions since the start of his second term.

Following the ruling, President Donald Trump moved quickly to introduce a replacement measure. 

On 20 February, he signed a proclamation imposing a new 10% global tariff under Section 122, a rarely invoked law that allows temporary tariffs of up to 15% for 150 days, after which Congress must step in. This was further raised to 15% on 21 February.

Why should I care?

U.S. stock indices ended the holiday shortened week higher, with markets rallying on Friday after news of the ruling.

Gold prices rebounded above US$5,000 per ounce, supported by a weaker U.S. dollar following the tariff reversal. Learn more about what is driving strength in gold prices here.

In Singapore, the Straits Times Index (STI) climbed to regain the 5,000 level, led by continued strength in OCBC, Singtel and Keppel. Learn more about how shifting economic drivers are broadening opportunities in Singapore stocks beyond traditional blue chips.

🚗  Moving This Week

• Singapore Airlines Group reported a 0.7% year-on-year increase in passenger traffic in January 2026 across its two carriers, reaching 13.8 billion revenue passenger-km. However, its passenger load factor eased to 86.6%, 1.2 percentage points lower than a year ago. Read more here.
• ThaiBev said 1Q (ended Dec 31, 2025) sales revenue fell 6% year on year to 86.7 billion baht , citing weaker consumer sentiment. Despite the weaker top line, Ebitda rose 1.8% to 16.7 billion baht, up from 16.4 billion baht in the year-ago period. Read more here.
• Lendlease Global Commercial REIT reported 1H FY2026 DPU of S$0.0185, up 3.1% from S$0.018 a year ago. The manager attributed the increase to resilient performance at its Singapore malls, a more favourable interest-rate backdrop, and lower funding costs after refinancing perpetual securities in April 2025. Read more here.
• CSE Global clinched S$514.7 million in new orders in 4Q2025, up 118.7% year on year. In its Feb 16 update, the group said growth was driven mainly by stronger demand for its US electrification solutions. Electrification made up 80.5% of total Q4 orders, with segment orders surging 196.4% to S$414.5 million. Read more here.
• Yangzijiang (YZJ) Maritime will convene an EGM on Mar 6 to seek shareholder approval for a share buyback mandate. If passed, the mandate would allow the company to repurchase up to 10% of its issued shares, or about 348.9 million shares out of 3.5 billion outstanding as at the last practicable date. Read more here.
• SIA Engineering (SIAEC) reported a 9.7% rise in 3Q FY2026 net profit to S$41.9 million, up from S$38.2 million a year earlier. The aircraft maintenance provider said revenue grew 8.7% year on year to S$353.1 million, from S$324.8 million. Read more here.
• OUE expects a net loss for FY2025, citing weaker contributions from its equity-accounted investees. This was mainly due to estimated losses at Gemdale Properties and Investment Corporation, an investee it owns 29.07% of, which has been hit by China’s property downturn and softer economic conditions. 

Source: Bloomberg, CNBC, Business Times, Edge Singapore

💡 The Big Important Story

5 Singapore REITs that raised dividends in February 2026. Are their yields attractive?

Here are 5 Singapore REITs that raised dividends in February 2026. We assess what drove the increase and whether their yields remain attractive.

🤓 What we're looking out for next week

• Monday, 23 February: Centurion Accommodation REIT earnings
• Tuesday, 24 February: UOB, SIA, Genting Singapore earnings
• Wednesday. 25 February: OCBC, Sembcorp Industries, Stoneweg European REIT, Singpost, Hong Leong Asia earnings
• Thursday, 26 February: CSE Global, Wilmar earnings
• Friday, 27 February: ST Engineering ComfortDelgro, SATS, City Developments, Daiwa House Logistics Trust earnings 

Get the full list of stocks with upcoming dividends here. 

Source: SGX, Bloomberg, Refinitiv

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