Singapore stocks hit new highs while bond yields rise: Weekly Market Recap

My office used to be right next to Marina Square, and over the 10 years I worked there, I had countless lunches and walks through the mall.

So I felt a little nostalgic when I read about Marina Square’s upcoming redevelopment.

But as an investor, I also found myself looking at it in a different way.

For UOL and Singapore Land, the redevelopment is really about finding ways to make an asset they have owned for decades work harder.

And we are seeing more of this across the Singapore market too. Companies are redeveloping assets and reshaping their portfolios to find new sources of growth. 

This is one of the reasons that has pushed Singapore stocks to reach new highs. This week, we looked at the 3 best performing Singapore blue chips in August and what could drive them from here. We also shared 5 ways to invest in Singapore blue chips and beyond for those wondering how they might participate in the market more broadly.

It is also getting easier to invest in some of Singapore’s higher priced blue chips. We explain what SGX’s board lot size reduction means for investors, and why it could matter for retail investors.

For those looking for income, we took a closer look at two companies that are also reshaping their portfolios and looking for new avenues of growth.

Keppel DC REIT is expanding with the acquisition of two data centres in Tokyo, while Keppel Infrastructure Trust has been actively repositioning its portfolio. For me, the key question is whether these moves can help support a more resilient stream of income over time.

And the opportunities are not just in Singapore. We also spoke to a fund manager to understand what is driving Asia’s market rally and where investors may still be finding opportunities across the region.

Of course, making our money work harder does not always mean taking more investment risk.

For the cash in our Liquidity Pot, we updated our comparison of yields across T bills, fixed deposits, SSBs, savings accounts and money market funds.

We also updated the best fixed deposit rates in Singapore and best savings account rates for September.

And with the next 6 month T bill auction coming up, we looked at what yield investors might expect at the upcoming auction.

I think there is a useful reminder in all of this. Just as companies look for ways to make their assets work harder, we can do the same with our own money.

Across Beansprout’s Four Pots of Wealth, that could mean finding new sources of growth, building a more resilient stream of income, or simply making sure the cash sitting on the sidelines is still working hard enough for us.

None of these decisions may feel very big on their own. But over time, they can help us build a little more security and more choices in how we want to live.

Happy growing!

Gerald, Founder of Beansprout

⏰ This Week In Markets

📊 Stocks rise with bond yields in focus 

What happened? 

US hiring was stronger than expected in August, with nonfarm payrolls rising by 162,000, well above expectations of 53,000.

US government bond yields rose following the jobs report.

The two year US Treasury yield, which tends to reflect expectations for Fed policy, jumped to around 4.4%.

What does this mean?

The latest data suggests that the US economy remains resilient, with the labour market continuing to hold up.

With inflation remaining elevated, investors raised the possibility that interest rates could stay high for longer.

At the same time, enthusiasm around AI remains strong.

Broadcom raised its AI chip outlook for 2027 and expects AI revenue to double in 2028. Dell also reported strong earnings and guidance, with AI server orders reaching a record US$60.9 billion.

What we are watching

Attention will now turn to US inflation data next week, including the CPI report on Friday.

With the next Federal Reserve meeting approaching, both inflation and employment data will be closely watched for clues on whether the Fed keeps rates unchanged or considers another increase.

Why should I care?

Markets still ended the week modestly higher, as strong technology earnings helped offset renewed concerns about interest rates.

The S&P 500 edged up 0.1% for the week, while the Nasdaq Composite gained 0.4%.

Singapore stocks performed more strongly. The Straits Times Index rose 1.8% to a new high, supported by continued strength in the banks.

OCBC’s share price also reached a new high, closing at S$32.27, while DBS’s share price ended Friday, 4 September, at S$78.65.

🚗  Moving This Week

• Keppel DC REIT will acquire an 88.62% effective interest in Tokyo Data Centre 4 and 5. The acquisition will be partially funded through a private placement. Read Beansprout’s take here 
• Mapletree Industrial Trust (MIT) said there is “no certainty or assurance” that a transaction will materialise as it evaluates selective divestments in North America. The clarification followed a Mingtiandi report that MIT had put 22 US data centres across 15 states up for sale. The portfolio spans more than 3.1 million square feet. Read more here
• UOL’s 50.4%-owned Singapore Land Group (SingLand) has announced the partial redevelopment of the Marina Square complex into “Singapore’s first hyper-mixed development”. SingLand will introduce three new buildings to the site. Marina Square Shopping Mall will close on March 31, 2027 to facilitate construction. Read more here.
• ST Telemedia Global Data Centres has unveiled a refreshed global brand following the completion of its S$6.6 billion acquisition by KKR and Singtel. The company will retain the STTGDC name and focus on providing AI-ready data centre infrastructure, with KKR holding a 75% stake and Singtel the remaining 25%. Read more here
• Frencken Group has raised approximately S$100 million through the placement of 44.1 million new shares at S$2.2687 each to institutional and accredited investors.  Read more here

Source: Bloomberg, CNBC, Business Times, Edge Singapore

💡 The Big Important Story

T-bills vs Fixed Deposit vs SSB: Which offers the best yield in September 2026

I find out the best places to park our cash to earn a higher yield through Singapore T-bills, fixed deposits, SSBs, savings account and money market funds in September 2026.

🤓 What we're looking out for next week

Key dates

• Monday, 7 Sep: U.S. market closed.
• Tuesday, 8 Sep: Keppel DC REIT, Centurion Corp ex dividend
• Wednesday, 9 Sep: Oracle results
• Thursday, 10 Sep: Sasseur REIT ex dividend, 6-month T-bill auction, U.S. PPI (Aug)
• Friday, 11 Sep: Riverstone ex-dividend, U.S. CPI (Aug)

Get the full list of stocks with upcoming earnings and upcoming dividends. 

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