Stocks rally to near record highs: Weekly Market Recap

I’m not much of a football fan, but even I noticed that Singapore made it into the ASEAN Championship semi finals.

Maybe it is the National Day mood, but there seems to a few things for Singaporeans to celebrate this week. And it was not just on the football pitch.

The Straits Times Index (STI) is near an all time high, while DBS and OCBC both reported strong earnings and saw their share prices reach record levels too. This comes after a very strong July, when the STI gained 9%, led by the Singapore banks.

If you have been invested in Singapore stocks, it has been quite a run. This week, we look at which blue chip stocks performed best in July, as well as some of the stocks paying dividends in August.

Of course, whenever markets hit new highs, I also start wondering what comes next. So we take a look at what I am watching this August, and what could keep markets moving from here.

Away from stocks, one habit that was drilled into me growing up in Singapore was to always save for a rainy day.

So if you have some spare cash sitting around, we find out where is the best place to park your cash to earn a higher yield after comparing the best fixed deposit rate and best savings account rates this month. We also look at what to expect from the upcoming T bill auction after the recent bounce in yields.

If you are looking for a good deal this weekend, we found 12 National Day promotions worth checking out.

National Day also feels like a good time to reflect on how far we have come, and the progress we continue to make.

I am often reminded that progress does not always come from making a big leap. More often, it comes from making small improvements and continuing to move in the right direction.

I think about investing in the same way. Each step we take can bring us a little closer to greater financial security, being able to support the people we care about and having more choices over how we spend the years ahead.

And perhaps that is something worth celebrating too, the progress we make along the way.

Happy National Day!

Gerald, Founder of Beansprout

⏰ This Week In Markets

📊 Stocks rally on optimism over tech earnings.

What happened? 

Oil prices fell sharply early in the week following reports of progress towards an agreement that could reopen the Strait of Hormuz.

This helped ease concerns about energy driven inflation 

The US labour market also showed signs of weakening. Employers shed 23,000 jobs in July, compared with expectations for an increase of around 80,000. This was the weakest reading since February.

What does this mean?

Following the payrolls report, the probability of a September rate hike fell to around 42%, from roughly 55% before the release, according to the CME FedWatch Tool.

US government bond yields also eased, with the 10 year Treasury yield falling to around 4.65% from above 4.7% the previous week.

What we are watching

The US will report July inflation data next week, providing another important signal for the Fed’s interest rate outlook.

The second quarter earnings season will also begin to wrap up in both Singapore and the US.

In the US, around 88% of S&P 500 companies have reported their results so far. Of the 442 companies that have reported, 87% beat analysts’ earnings expectations.

Earnings growth has also remained strong, with S&P 500 earnings per share growth currently tracking at around 26% to 29%.

Why should I care?

The S&P 500 gained 3.6% over the week to reach a new record high. Technology stocks led the gains, as the technology focused Nasdaq Composite rose 5.2%.

Closer to home, Singapore’s Straits Times Index reached close to record highs after gaining 1.1%.

Singapore banks have also generally reported robust first half results despite market volatility and lower interest rates.

🚗  Moving This Week

• DBS reported a record 2Q26 net profit of S$3.08 billion, up 9% yoy, as total income rose 6% to S$6.09 billion. Net interest income declined 2% amid lower interest rates and an 18bp contraction in NIM to 1.87%. This was offset by strong non-interest income. Fee income rose 25%, driven by wealth management, treasury customer sales and markets trading. 1H26 ROE stood at 17.5%. DBS declared a 2Q ordinary dividend of S$0.66 per share plus a S$0.15 capital return dividend, bringing the total quarterly payout to S$0.81 per share. Read our analysis here
• UOB reported a 10% year-on-year increase in 2Q26 net profit to S$1.5 billion, while 1H26 net profit rose 3%. Net interest income declined 2% due to margin pressure from lower interest rates, but this was partly offset by a 5% increase in net fee income. Asset quality remained sound with a non-performing loan ratio of 1.6% and credit costs of 28 basis points, while the Board declared an interim dividend of 88 cents per share. Ex-date 17 August. Read our analysis here 
• OCBC reported a record 1H26 net profit of S$4.19 billion, up 13% year on year, driven by an 11% increase in total income as record non-interest income more than offset lower net interest income amid softer interest rates. NPL ratio at 0.9%, while the cost-to-income ratio improved to 38.5% and return on equity increased to 13.7%. The Board declared an interim dividend of 47 cents per share, up 15% year on year. Ex-date 17 August. Read our analysis here
• Singapore Exchange reported a record FY2026 adjusted net profit of S$759.5 million, up 24.6% year-on-year, supported by broad-based growth across equities, foreign exchange and commodities. SGX raised its final quarterly dividend and proposed a one-off additional dividend, bringing total FY2026 payout to a record 57 cents per share. Read more here
• Venture Corporation reported a 5.6% year-on-year increase in 1HFY2026 net profit, supported by stronger revenue across multiple technology end markets. Revenue rose 7.4%, driven by demand from areas including AI-related infrastructure, semiconductor-related equipment, networking and life sciences, while Venture raised its interim dividend to 30 cents per share. Read more here
• CapitaLand Ascendas REIT reported a 0.1% year-on-year increase in 1HFY2026 DPU, as higher distributable income was offset by an enlarged unit base following equity fundraising. Revenue and net property income rose 6.7%, supported by newly acquired properties across Singapore, Japan, Europe and the US. Read more here 
• Parkway Life REIT reported a stronger first half, with DPU rising 14.6% year on year to 8.77 cents. Distributable income also grew 14.6% to S$57.2 million, supported by step-up lease arrangements across its Singapore and France portfolios. The REIT also benefited from revenue-sharing arrangements with two Singapore hospitals, which outperformed minimum guaranteed rent. Read more here
• Lendlease Global Commercial REIT reported a 3.0% year-on-year increase in 2HFY2026 DPU, supported by stronger recurring earnings from its retail portfolio. Revenue and net property income rose 6.8% and 6.6% respectively, driven by the REIT's acquisition of the remaining 30% stake in PLQ Mall. Read more here
• CapitaLand China Trust reported DPU of 2.45 Singapore cents for 1H 2026. Distribution income was flat compared with 1H 2025.  On a same-store basis, excluding CapitaMall Yuhuating’s contribution in 1H 2025, DPU for 1H 2026 increased by 2.9% year-on-year. Based on the trailing twelve month DPU of 4.78 cents and yesterday’s closing price at S$0.66, this translates to a distribution yield of 7.5%. Read more here 
• Centurion Accommodation REIT reported a 1HFY2026 DPU of 3.499 cents, 9.6% above its prospectus forecast. Gross revenue and net property income also exceeded forecasts, supported by stronger-than-expected operating performance across its accommodation portfolio. Read more here
• CSE Global secured S$199.1 million in new orders in 2QFY2026, down 5.8% year-on-year due mainly to weaker electrification orders. However, its order book rose 8.1% year-on-year to S$620.4 million, supported by growth in the communications and automation segments. 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 August 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 August 2026.

🤓 What we're looking out for next week

Key dates

• Monday, 10 Aug: Public holiday
• Tuesday, 11 Aug: Phillip SGD Money Market ETF, Keppel Ltd, Lendlease Global Commercial REIT, Singapore Airlines ex-dividend. Singapore 2Q26 GDP
• Wednesday, 12 Aug: Samudera Shipping Line, Parkway Life REIT, First REIT ex-dividend. CapitaLand Integrated Commercial Trust, Wilmar International, UOL Group, Hong Leong Asia, Centurion Corp earnings, US CPI (Jul)
• Thursday, 13 Aug: 6-month T-bills auction. SPDR Straits Times Index ETF, Daiwa House Logistics Trust, Sheng Siong Group, CapitaLand Ascendas REIT, IREIT Global, Centurion Accommodation REIT, CapitaLand China Trust ex-dividend.  CapitaLand Investment Ltd, City Developments Ltd, Genting Singapore, ST Engineering, SembCorp Industries, CSE Global, China Aviation Oil, Starhub earnings
• Friday, 14 Aug: DBS Group ex-dividend. First Resource, Golden Agri-Resources, Olam Group, Sasseur REIT earnings. US Retail sales (Jul).

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

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