US stocks reach record highs on ceasefire extension: Weekly Market Recap

Something caught my eye when I was at Orchard Road this week.

For all the headlines about the Middle East conflict, the malls along Singapore’s main shopping belt were still buzzing. People were still out shopping, eating, and queuing for dinner.

That was what came to mind when I read that CapitaLand Integrated Commercial Trust (CICT) is buying Paragon.

To me, it suggests that CICT is still taking a fairly positive view on Orchard Road and Singapore retail, even with all the uncertainty around us.

And CICT is not the only REIT making moves. Just last week, CapitaLand Ascendas REIT completed its preferential offering to fund acquisition of assets in Singapore and Japan.

So this week, we look at Singapore REITs that are buying assets, and whether these deals could help lift dividends.

We also ask whether Singapore REIT dividend yields are still attractive after their recent bounce.

This comes as T-bill yields have eased from their recent jump. We take a closer look at whether the latest Singapore Savings Bond which offers a 10-year average return of 2.14% is worth applying for, or whether it may be better to wait for the next one.

For me, this is where the idea of having different pots of wealth becomes useful.

The Income Pot is about building a steady stream of passive income that can hold up across different market cycle, and not just chasing the highest yield today.

With bond yields easing, it may be time to “window shop” our income options again.

Just like walking along Orchard Road, the key is knowing what belongs in our basket, and what is better left on the shelf.

For those who are in a shopping mood, we have also put together the best brokerage account promos in April 2026.

Happy growing!

Gerald, Founder of Beansprout

⏰ This Week In Markets

📊 Extension of ceasefire drives US stocks to record highs

What happened? 

Markets found some relief this week after U.S. President Donald Trump announced an extension of the ceasefire, helping to ease geopolitical concerns.

Positive economic data, continued strength in artificial intelligence linked stocks, and upbeat earnings results also helped offset lingering uncertainty.

What does this mean?

Even though geopolitical risks remained elevated through the end of the week, investor attention stayed focused on a few key themes.

These included strong AI demand and infrastructure spending, signs of resilient consumer demand, and strong corporate earnings.

According to FactSet, 84% of S&P 500 companies that had reported results through Friday beat estimates. The blended year on year earnings growth rate stood at 15.1%, putting the index on track for a sixth consecutive quarter of double digit earnings growth.

Why should I care?

The S&P 500 and Nasdaq recorded their fourth straight week of gains, with both indices ending at fresh all time closing highs. 

In Singapore, the Straits Times Index (STI) fell 1.5% for the week. Singapore banks were the main drag, as investors weighed how a prolonged Middle East conflict could affect economic growth.

Singapore REITs, however, were a relative bright spot as bond yields moderated. Gains were led by CapitaLand Integrated Commercial Trust, Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust.

🚗  Moving This Week

• CapitaLand Integrated Commercial Trust (CICT)  announced the acquisition of the freehold Paragon for $3.9 billion, and divestment of Asia Square Tower 2. Read more here.
• CICT delivered a stable 1Q 2026, with NPI rising 7.9% YoY to S$314.4 million, supported by positive rental reversions and resilient portfolio performance. Occupancy remained healthy at 95.2%, while tenant sales and shopper traffic grew 2.2% and 3.2% YoY, respectively. Read more here.
• CapitaLand Ascendas REIT's preferential offering closed with 74.5% valid acceptances, while total subscriptions reached 244.2% after excess applications. The new units will be listed on SGX from 9am on Apr 23. The remaining 33 million units not taken up will be used to satisfy excess applications. Read more here.
• Keppel reported that profit from the New Keppel was slightly lower year on year in 1Q26. Stronger contributions from Infrastructure and Connectivity helped offset weaker Real Estate earnings, which had previously benefited from higher valuation and divestment gains. Read more here.
• Frasers Centrepoint Trust reported a steady 1H FY2026, with DPU rising 1.4% year on year to 6.136 cents. Portfolio metrics remained strong, with 99.8% committed occupancy, +6.5% rental reversions, and higher shopper traffic and tenant sales. Its AEIs are also progressing, with Hougang Mall on track for completion in September 2026 and NEX works set to begin in May 2026. Read more here.
• OUE REIT reported a solid 1Q showing, with net property income rising 8.4% year on year to S$57.6 million, while revenue increased 6.7% to S$70.5 million. The manager said the improvement was driven mainly by strong growth in the hospitality segment and resilient performance from its commercial portfolio. Read more here
• Digital Core REIT reported stable distributable income amid positive leasing momentum. Revenue was flat at US$44.1 million in 1Q FY26, -0.2% year-on-year. Distributable income was US$11.7 million in 1Q FY26, -0.1% year-on-year, led by contribution from Digital Osaka 3  and strong leasing momentum.  Read more here
• Hong Leong Asia has acquired Yong Tai Loong for about S$90.7 million in cash, making the architectural building products supplier its wholly owned subsidiary. HLA said the deal supports its strategy to strengthen its urban solutions capabilities and expand its building materials business in Singapore. Read more here.

Source: Bloomberg, CNBC, Business Times, Edge Singapore

💡 The Big Important Story

How I invest with clarity using the Four Pots of Wealth

Here's how I invest with clarity using the Four Pots of Wealth, a practical framework for balancing liquidity, income, growth and opportunity.

🤓 What we're looking out for next week

Key Singapore earnings dates

• Monday, 27 April 2026: Mapletree Pan Asia Commercial Trust earnings
• Tuesday, 28  April 2026: Mapletree Industrial Trust earnings
• Wednesday. 29 April 2026: Sheng Siong earnings
• Thursday, 30 April 2026: DBS Group Holdings, Mapletree Logistics Trust earnings
• Friday, 1 May 2026: Labour Day public holiday 

Key Singapore ex-dividend dates

• Monday, 27 April 2026: CapitaLand Integrated Commercial Trust, Keppel Ltd, PropNex
• Tuesday, 28  April 2026: APAC Realty, ST Engineering,
• Wednesday. 29 April 2026: Wilmar International
• Thursday, 30 April 2026: BRC Asia, City Developments Limited, CSE Global, Frencken Group, Genting Singapore
• Friday, 1 May 2026: Labour Day public holiday 

Get the full list of stocks with upcoming dividends here. 

Key US dates 

• Wednesday. 28 April 2026: US Federal Reserve Meeting
• Wednesday. 29 April 2026: US Federal Reserve Meeting, Alphabet Inc., Amazon.com, Microsoft, Qualcomm earnings
• Thursday, 30 April 2026: Apple

Get latest US Fed interest rate expectations here. 

Source: SGX, Bloomberg, Refinitiv

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