Beansprout Insights

In this week’s Weekly Market Review in partnership with Securities Investors Association Singapore (SIAS), we discuss the following:

⁃ Mapletree Logistics Trust
⁃ Mapletree Pan Asia Commercial Trust

Watch the video to find out what’s happening this week.

http://growbeansprout.link/weekly-market-review-27-jan-2025

Daily Sprout 🌱 (28 Jan)

The S&P 500 fell with losses led by tech stocks as Chinese firm DeepSeek’s artificial intelligence (AI) chatbot soared to the top of the Apple Store’s download charts, driving concerns about US dominance in the AI space. Nvidia’s share price declined by 17%, with its one day market value loss of US$589 billion representing the highest in US history.

STI ⬇️ 0.20% HSI ⬆️ 0.66% NKY ⬇️ 0.92%
S&P500 ⬇️ 1.46% Nasdaq ⬇️ 3.07% DJIA ⬆️ 0.65% Russell2000 ⬇️ 1.03%

What's Sprouting

🌱 DBS has acquired an additional stake in Shenzhen Rural Commercial Bank (SRCB) for 1.6 billion yuan, increasing its stake from 16.7% to 19.4%. The investment is said to be in line with DBS’ strategy to expand its exposure to China’s greater bay area. Read more here.

🌱 Keppel REIT reported a distribution per unit (DPU) of 2.80 cents for the 2HFY2024 ended Dec 31, 2024, 3.4% lower y-o-y. The lower DPU for the 2HFY2024 was mainly due to higher borrowing costs. Read more here.

🌱 Seatrium has been awarded a contract by Japan-based Penta-Ocean Construction (POC) to carry out the engineering, procurement and construction for a 5,000-ton fully revolving heavy lift vessel project for the Japanese offshore wind market. The contract value was not disclosed. Read more here. Read more here.

🌱 The February tranche of the Singapore Savings Bonds (SSBs) received a total of S$236.5 million in applications for the S$500 million that was offered. In comparison, the January issuance received S$326.3 million in applications. Discover the interest rate projection for the next SSB here.

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Daily Sprout 🌱 (27 Jan)

The S&P 500 closed lower on Friday as investors took profit following two weeks of strong gains.

STI ⬇️ 0.06% HSI ⬆️ 1.86% NKY ⬇️ 0.07%
S&P500 ⬇️ 0.29% Nasdaq ⬇️ 0.50% DJIA ⬇️ 0.32% Russell2000 ⬇️ 0.30%

What's Sprouting

🌱 Japfa's controlling Santosa family has made an offer to take the agri-food company private by way of a scheme of arrangement, for S$0.62 per share. The offer price represents a 34.8% premium to the counter’s last traded price on 15 Jan.

🌱Construction company Lian Beng Group announced that it is offering 23 cents in cash per share to privatise its subsidiary SLB Development at a premium over SLB’s closing price of 17 cents.

🌱 Great Eastern Holdings (GEH) has been given till 25 May to comply with the free float rule. According to GEH, the company has been assessing “various options” for it to comply with the listing rules since its shares were suspended on 15 July 2024.

🌱 CapitaLand Ascott Trust’s (CLAS) headline distribution per stapled security in 2H24 declined by 7% y-o-y to 3.55 cents, due to realised exchange gains in 2023. According to CLAS’, stronger operating performance, acquisitions and completed AEIs mitigated the impact of divestments, ongoing AEIs, higher financing costs and depreciation of most foreign currencies against the Singapore Dollar.

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US stocks rally and 1-Year T-bill yield climbs: Weekly Market Recap

growbeansprout.link/weekly-update-25-jan-2025

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Here's what to expect for the T-bill auction on 28 Jan

growbeansprout.link/t-bill-auction-28-jan-2025

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Starhill Global REIT Reports 1.1% DPU Growth, Plans Further AEI for Wisma Atria

growbeansprout.link/starhill-global-reit-1h25-dividend

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OUE REIT 2H DPU rises 8.7%. Lippo Plaza sale boosts financial flexibility

growbeansprout.link/oue-reit-2024-dividends

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Mapletree Pan Asia Commercial Trust DPU falls by 9.1%: Our Quick Take

growbeansprout.link/mapletree-pan-asia-commercial-trust-3q25-dividend

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Daily Sprout 🌱 (24 Jan)

The MAS eased monetary policy settings on Friday (Jan 24), after having held policy steady for more than two years since the last tightening move in October 2022. Singapore’s central bank also lowered its core inflation outlook for 2025, expecting it to average 1 to 2%.

STI ⬆️ 0.67% HSI ⬇️ 0.40% NKY ⬆️ 0.79%
S&P500 ⬆️ 0.53% Nasdaq ⬆️ 0.22% DJIA ⬆️ 0.92% Russell2000 ⬆️ 0.47%

What's Sprouting

🌱 Mapletree Pan Asia Commercial Trust’s (MPACT) distribution per unit (DPU) fell 9.1% to S$0.02 for its third quarter ended Dec 31, 2024, from S$0.022 in the year-ago period. This was driven by a decline in revenue with the lack of contributions from its divested office property Mapletree Anson, as well as lower contributions from assets overseas, which were further dampened by the persistent strength of the Singapore dollar. Read more here.

🌱OUE REIT’s distribution per unit (DPU) rose 8.7% to S$0.0113 for the second half of its financial year ended Dec 31, 2024. This was supported by higher revenue with stable operational performance of the Reit’s Singapore office portfolio, as well as the successful asset enhancement of Crowne Plaza Changi Airport, which was completed in December 2023. Read more here.

🌱 Starhill Global REIT’s distribution per unit (DPU) rose 1.1% to S$0.018 for its first half ended Dec 31, 2024, from S$0.0178 in the year-ago period. This was supported by an increase in revenue with higher contributions from its properties in Singapore and Perth, Australia, as well as the appreciation of the Malaysian ringgit against the Singapore dollar. Read more here.

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1 Year T-bill yield rises to 2.95%. What's driving the bounce?

growbeansprout.link/t-bill-allotment-23-Jan-2025

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Daily Sprout 🌱 (23 Jan)

Chinese stocks fell after US President Donald Trump said his threat to impose 10% tariffs on the nation’s goods was still being considered and may take place next month.

STI ⬇️ 0.37% HSI ⬇️ 1.63% NKY ⬆️ 1.58%
S&P500 ⬆️ 0.61% Nasdaq ⬆️ 1.28% DJIA ⬆️ 0.30% Russell2000 ⬇️ 0.61%

What's Sprouting

🌱 Mapletree Industrial Trust reported a distribution per unit of S$0.0341 for its third quarter ended Dec 31, 2024, a 1.5% increase from the previous year. This was driven by an increase in revenue from a newly acquired mixed-use facility in Tokyo, the completion of fitting out works of a data centre in Osaka, as well as new leases and renewals across various property clusters. Read more here.

🌱Frasers Centrepoint Trust reported a committed occupancy of 99.5% for its retail portfolio for the first quarter of its financial year ending Sep 30, 2025, declining marginally from 99.7% in the previous quarter. Read more here.

🌱 Netflix’s share price soared to an all-time high after the streaming giant reported stronger than expected growth in subscriber numbers and unveiled price hikes in markets including the US.

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Daily Sprout 🌱 (22 Jan)

The S&P 500 rose to its highest level in more than a month, as investors were relieved that US President Donald Trump did not start his second term with blanket tariff increases.

STI ⬇️ 0.33% HSI ⬆️ 0.91% NKY ⬇️ 0.00%
S&P500 ⬆️ 0.88% Nasdaq ⬆️ 0.64% DJIA ⬆️ 1.24% Russell2000 ⬆️ 1.85%

What's Sprouting

🌱 Mapletree Logistics Trust (MLT) reported distribution per unit (DPU) of S$0.02003 for its third quarter ended Dec 31, 2024, a decline of 11.1% from the previous year. This was mainly due to lower revenue contribution from China, the absence of contribution from divested properties, and depreciation of various regional currencies against the Singapore dollar. Read more here.

🌱 Sabana REIT reported a distribution per unit (DPU) of S$0.0152 for the half-year ended Dec 31, 2024, up 32.2% from the previous year. The increase came even as about 10% of total income available for distribution in FY2024 was retained for “prudent capital management”, in view of additional costs incurred and to be incurred during the internalisation of the Reit manager. Read more here.

🌱 Apple’s shares fell after multiple analysts adowngraded the stock, citing mounting worries about sagging iPhone sales and lackluster performance in hardware and services.

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In this week’s Weekly Market Review in partnership with Securities Investors Association Singapore (SIAS), we we discuss key developments in the global equity market with Isaac Lim, Chief Market Strategist at Moomoo Singapore. 

Watch the video to learn more about the market outlook for the first half of 2025.

http://growbeansprout.link/weekly-market-review-20-jan-2025

Daily Sprout 🌱 (21 Jan)

Asian stocks were mixed on Monday as investors wait to see how the first days of Donald Trump’s presidency take shape. The US market was closed for a holiday, but stock futures traded higher following the inauguration.

STI ⬇️ 0.07% HSI ⬆️ 1.75% NKY ⬆️ 1.17%

What's Sprouting

🌱 US President Donald Trump launched his second term with an inaugural address that vowed to prioritise America’s interests with a “golden age” for the country.

🌱 US President Donald Trump held off unveiling China-specific tariffs on his first day on office, instead ordering his administration to address unfair trade practices globally and investigate whether Beijing had complied with a deal signed during his first term, according to a Bloomberg report.

🌱 Sembcorp Industries has launched the Nusantara Sembcorp Solar Energi (NSSE) Power Plant, the first utility-scale integrated solar and energy storage project in Nusantara, Indonesia. The project comprises a 50 megawatt (MW) solar farm with a 14.2 megawatt hour (MWh) battery energy storage system. Read more here.

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What’s Next for the S&P 500: More Upside Ahead?

growbeansprout.link/us-market-outlook-2025

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Hi Beansprout community!

As we head into 2025, we’re ready to level up! We want to continue doing what we do well, while also evolving so that we remain true to our vision: to keep growing both in knowledge and also in wealth. Hence, we’re throwing a small get-together, and would love for you to join us.

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🌱An exclusive sharing from the Beansprout team about our upcoming plans
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🌱 Casual chats with like-minded readers from our vibrant Beansprout community
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Daily Sprout 🌱 (20 Jan)

The S&P 500 closed higher on Friday on optimism over the health of the US economy as investors await policy changes from the incoming Trump administration. President-elect Donald Trump will be inaugurated on Monday, when US markets will close for the Martin Luther King Jr Day holiday.

STI ⬆️ 0.25% HSI ⬆️ 0.31% NKY ⬇️ 0.31%
S&P500 ⬆️ 1.00% Nasdaq ⬆️ 1.51% DJIA ⬆️ 0.78% Russell2000 ⬆️ 0.40%

What's Sprouting

🌱 A City Developments (CDL)-led consortium sold 86% of the 777-unit The Orie over its launch weekend, with prices averaging $2,704 psf.  The developers attributed the strong sales at the 99-year leasehold condominium to pent-up demand for new homes in Toa Payoh.

🌱 The Central Provident Fund (CPF) announced that it has closed the Special Accounts (SA) for CPF members aged 55 years and above. Read more here.

🌱 TikTok started restoring service in the US on Sunday, after the video app
earlier suspended its services for US-based users. President-elect Donald Trump halted enforcement of the law and announced he would give its owners another three months to find a buyer.

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CPF Special Account (SA) closed for those 55 and above. What should you do?

growbeansprout.link/cpf-special-account-sa-closes-2025

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T-bill yield falls and stocks rebound: Weekly Market Recap

growbeansprout.link/weekly-update-18-jan-2025

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Is the 1-year T-bill better than the 6-month T-bill and fixed deposits?

growbeansprout.link/1-year-t-bill-vs-6-month-t-bill-jan-2025

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Daily Sprout 🌱 (17 Jan)

The S&P 500 closed lower following the previous day’s rally, with losses led by megacap tech stocks.

STI ⬆️ 0.76% HSI ⬆️ 1.23% NKY ⬆️ 0.33%
S&P500 ⬇️ 0.21% Nasdaq ⬇️ 0.89% DJIA ⬇️ 0.16% Russell2000 ⬆️ 0.15%

What's Sprouting

🌱 City Developments achieved total divestments of more than S$600 million in 2024 as part of its capital recycling initiative. The completed divestments include the Ransome’s Wharf site in London and the freehold eight-storey industrial building Cideco Industrial Complex in Singapore. Read more here.

🌱 Mapletree Logistics Trust has entered into a purchase agreement to divest a property at 8, Tuas View Square for about S$11.18 million. The sale price is 39.8% above the latest valuation of S$8 million as at Nov 5, 2024. Read more here.

🌱 The Singapore government is “not averse” to implementing more cooling measures on the property market if needed, said National Development Minister Desmond Lee. He added that it was not yet time to roll back curbs that have been imposed to keep property prices under control.

🌱The cut-off yield for the 6-month Singapore T-bill fell to 2.99%, as applications surged to a record high. Read more here.

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T-bill yield falls to 2.99%. Why the decline?

growbeansprout.link/t-bill-allotment-16-jan-2025

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Daily Sprout 🌱 (16 Jan)

US stocks surged as investors reacted positively to strong bank earnings and data indicating a slowdown in underlying inflation. The US core consumer price index (CPI), which excludes food and energy, rose 0.2% compared to the previous month, below market expectations.

STI ⬇️ 0.43% HSI ⬆️ 0.34% NKY ⬇️ 0.08%
S&P500 ⬆️ 1.83% Nasdaq ⬆️ 2.45% DJIA ⬆️ 1.65% Russell2000 ⬆️ 1.99%

What's Sprouting

🌱 US financial heavyweights including JPMorgan Chase and Goldman Sachs reported strong profits propelled by strength in trading and financial advisory services.

🌱 UK activist investor Palliser Capital is looking to disrupt the takeover of insurer Great Eastern by majority shareholder OCBC, the Financial Times reported on Wednesday (Jan 15). Palliser called the deal “gravely unfair” for shareholders, in its appeal to the Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX), FT said, citing documents it saw. Read more here.

🌱Singapore Airlines (SIA) and its low-cost arm Scoot carried a total of 3.6 million passengers in December, up 7.1% from the year before and marking a monthly record for the SIA group. Read more here.

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Daily Sprout 🌱 (15 Jan)

The S&P 500 closed slightly higher in volatile trading as investors await the latest inflation data to assess the Fed’s interest rate direction.

STI ⬇️ 0.08% HSI ⬆️ 1.83% NKY ⬇️ 1.83%
S&P500 ⬆️ 0.11% Nasdaq ⬇️ 0.23% DJIA ⬆️ 0.52% Russell2000 ⬆️ 1.13%

What's Sprouting

🌱 DBS Bank outgoing chief executive officer Piyush Gupta expects the US to remain as a global growth engine but warns of potential headwinds that could lead to a market correction. Read more here.

🌱 CapitaLand India Trust (CLINT) has signed a long-term agreement with a leading global hyperscaler for one of CLINT’s data centres under development. With this, CLINT is likely to pre-lease about half of its total gross power capacity under development of around 250 MW.

🌱 Cordlife’s cord blood banking service and human tissue banking service licences have been renewed by the Ministry of Health (MOH) for one year, with effect from Tuesday (Jan 14).

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How to invest in US Stocks from just US$5 with fractional trading

growbeansprout.link/us-stocks-fractional-trading

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In this week’s Weekly Market Review in partnership with Securities Investors Association Singapore (SIAS), we discuss the following:

⁃ OCBC
⁃ Suntec REIT
⁃
Watch the video to find out what’s happening this week.

http://growbeansprout.link/weekly-market-review-13-jan-2025

Daily Sprout 🌱 (14 Jan)

The S&P 500 closed slightly higher, as investors await the latest inflation data to assess the Fed’s interest rate direction. The Dow Jones Industrial Average posted gains, while tech stocks fell.

STI ⬇️ 0.26% HSI ⬇️ 1.00% NKY <Closed>
S&P500 ⬆️ 0.16% Nasdaq ⬇️ 0.38% DJIA ⬆️ 0.86% Russell2000 ⬆️ 0.24%

What's Sprouting

🌱 First REIT says it has received a "preliminary non-binding letter of intent" from PT Siloam International Hospitals to acquire its portfolio of hospital assets in Indonesia. Siloam is the existing tenant and operator of these hospital assets. Read more here.

🌱 SingPost’s former group CEO, Vincent Phang, has resigned from his role as a non-executive, non-independent director with effect from 12 January. Read more here.

🌱 HY REALTY and MCC Group dished out discounts ranging from 15% to 27% on their prime downtown condominium project One Bernam over the weekend, selling 87 units in the process at prices from S$1.3 million to S$3.5 million.

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Daily Sprout 🌱 (13 Jan)

The S&P 500 closed lower on Friday after stronger than expected US jobs data. US government bond yields climbed, with the 10-year yield hitting 4.77%, its highest level since 2023.

STI ⬇️ 1.58% HSI ⬇️ 0.92% NKY ⬇️ 1.05%
S&P500 ⬇️ 1.54% Nasdaq ⬇️ 1.63% DJIA ⬇️ 1.63% Russell2000 ⬇️ 2.22%

What's Sprouting

🌱 SGX total securities market turnover value climbed 5% year-on-year to about S$20 billion in December, as the benchmark Straits Times Index (STI) recorded a 17-year peak. Read more here.

🌱 DBS announced that it will elect to and will redeem all of its outstanding US$1 billion 3.3% perpetual securities on 27 Feb. Read more here.

🌱 Stoneweg European REIT has been assigned a “BBB-” long-term issuer credit rating by S&P, as it is expected to deliver stable operational performance and cash flow over the next two years.

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[Last call] Whether you're an experienced investor or just getting started, we'd love to hear your thoughts! 

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Stocks slide amid rising bond yields: Weekly Market Recap

growbeansprout.link/weekly-update-11-jan-2025

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Will the T-bill yield rise further in the auction on 16 Jan?

growbeansprout.link/t-bill-auction-16-jan-2025

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Daily Sprout 🌱 (10 Jan)

The US market was closed to observe a national day of mourning for former US President Jimmy Carter. Several Federal Reserve officials confirmed that the US central bank will likely hold interest rates at current levels for an extended period, only cutting again when inflation meaningfully cools.

STI ⬇️ 0.63% HSI ⬇️ 0.20% NKY ⬇️ 0.94%

What's Sprouting

🌱 Manulife US REIT announced that its portfolio value has been deemed to drop 9.3% or US$116.6 million to US$1.14 billion. Besides tenants downsizing, the lower value was also driven by higher discount rates and terminal capitalisation rates for certain properties. Read more here.

🌱 SATS and its wholly owned subsidiary Worldwide Flight Services (WFS) have been awarded 14 new contracts from India flag carrier Air India in major airports around the world. Read more here.

🌱 Investors in the Johor-Singapore Special Economic Zone (JS-SEZ) can benefit from a special corporate tax rate of 5% for 15 years and special worker’s tax rate of 15% for 10 years from 1 January, 2025.

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Daily Sprout 🌱 (9 Jan)

The Straits Times Index (STI) reached an all-time high, with gains led by Singapore banks on investor expectations that their profits may remain elevated if interest rates stay high.

STI ⬆️ 1.54% HSI ⬇️ 0.86% NKY ⬇️ 0.25%
S&P500 ⬆️ 0.16% Nasdaq ⬇️ 0.06% DJIA ⬆️ 0.25% Russell2000 ⬇️ 0.48%

What's Sprouting

🌱 Gordon and Celine Tang, through their vehicle Aelios, have increased their offer for units in Suntec REIT to $1.19 per unit. Unitholders who have accepted their previous offer are also entitled to the revised offer price once the offer becomes or is declared unconditional in all respects. Read more here.

🌱 The share prices of US quantum computing stocks fell sharply after Nvidia’s CEO Jenson Huang said "very useful" quantum computers are still likely 15-30 years away.

🌱 COE premiums rose in the latest round of bidding, with premiums for the Category B category for larger, more powerful cars rising 11.5% to S$121,501. The last time the premium was higher was during December 2023’s first round of bidding when it was S$130,100.

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Where to park your cash for higher yield? T-bills vs Fixed Deposit vs SSB (Jan 2025)

growbeansprout.link/tbills-vs-fixed-deposit-vs-ssb-yield-jan-2025

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Daily Sprout 🌱 (8 Jan)

US stocks fell with losses led by tech stocks due to renewed inflation concerns, as services sector and job openings data pointed to price pressures and a relatively robust labor market. The US government’s monthly auction of 10-year notes drew the highest yield since 2007 at 4.68%.

STI ⬆️ 0.17% HSI ⬇️ 1.22% NKY ⬆️ 1.97%
S&P500 ⬇️ 1.11% Nasdaq ⬇️ 1.89% DJIA ⬇️ 0.42% Russell2000 ⬇️ 0.74%

What's Sprouting

🌱 Singapore and Malaysia are aiming to create 20,000 jobs and to bring 50 businesses in five years and 100 businesses in 10 years to the Johor-Singapore Special Economic Zone (JS-SEZ). 

🌱 Centurion announced that it is exploring establishing a REIT which will comprise some of the group’s workers and student accommodation assets. The proposed REIT will be sponsored by Centurion and listed on the Mainboard of the SGX.

🌱 Tencent’s stock fell after the US blacklisted the company for alleged links to the Chinese military. Tencent protested its inclusion as a mistake, saying that it has no ties with the military.

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Daily Sprout 🌱 (7 Jan)

The S&P 500 rose with gains led by semiconductor stocks. Nvidia’s share price reached a fresh record as strong results from Taiwan-based Foxconn led to optimism towards the artificial intelligence boom.

STI ⬆️ 0.53% HSI ⬇️ 0.36% NKY ⬇️ 1.47%
S&P500 ⬆️ 0.55% Nasdaq ⬆️ 1.24% DJIA ⬇️ 0.06% Russell2000 ⬇️ 0.08%

What's Sprouting

🌱 US President-elect Donald Trump denied a newspaper report that his incoming administration would likely pursue a less-aggressive tariff policy than he previously threatened.

🌱 Singapore Prime Minister Lawrence Wong and Malaysia Prime Minister Anwar Ibrahim will officiate a ceremony on Tuesday for the Singapore-Malaysia Special Economic Zone in Malaysia’s southern state of Johor.

🌱 The Orie at Toa Payoh drew 8,000 visitors over the first three days of preview from Jan 3 to Jan 5. Developed by a consortium led by City Developments, sales bookings for the 777-unit project will commence on 18 January.

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In this week’s Weekly Market Review in partnership with Securities Investors Association Singapore (SIAS), we discuss the following:

⁃ CICT
⁃ Mapletree Industrial Trust

Watch the video to find out what’s happening this week.

http://growbeansprout.link/weekly-market-review-6-jan-2025

Daily Sprout 🌱 (6 Jan)

The S&P 500 bounced on Friday following days of decline. Oil prices extended a rally to reach US$74 per barrel, its highest level since mid-October.

STI ⬆️ 0.03% HSI ⬆️ 0.70% NKY <Closed>
S&P500 ⬆️ 1.26% Nasdaq ⬆️ 1.77% DJIA ⬆️ 0.80% Russell2000 ⬆️ 1.72%

What's Sprouting

🌱 China’s central bank vowed to step up financial support for tech innovation and consumption stimulation to revive economic growth, while reitereating a pledge to lower interest rates and the reserve requirement ratio.

🌱 SingPost has cautioned that while it has in place a divestment strategy to monetise its various non-core assets and businesses, there is "no certainty" that any of the previously flagged transactions will take place.

🌱 Mapletree Logistics Trust (MLT) is divesting a property in Malaysia for RM 31.5 million (S$9.6 million), 31.3% above value. The divestment is expected to be completed in the first half of FY2025/2026, with no material impact on MLT’s net asset value and net property income for the current financial year. Read more here

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Singapore stocks and T-bill yields climb while fixed deposit rates fall: Weekly Market Recap

growbeansprout.link/weekly-update-5-jan-2025

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Best savings accounts in Singapore with highest interest rates [Jan 2025]

https://growbeansprout.link/best-savings-accounts-singapore

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HSBC Everyday Global Account (EGA): Earn promo rate of up to 3.90% p.a.

growbeansprout.link/hsbc-everyday-global-account-ega-review

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CIMB FastSaver Account: Earn up to 3.23% p.a. for fresh funds

https://growbeansprout.link/cimb-fastsaver-account-review

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Grab and Sea rebound in 2024. How to invest in ASEAN tech giants?

growbeansprout.link/grab-sea-asean-tech-etf

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