Equator Weekly — 16 Aug 2026
Equator Pro — Week Ending 14 Aug 2026
Part of Equator — Singapore & global markets, made simple.
Your weekly recap of SGX blue-chip performance.
This Week's Take
The three local banks split this week for a real reason, not noise.
OCBC and DBS both posted record Q2 profits — OCBC's net profit up 22% YoY, driven by strong wealth management fees — while UOB's 10% profit growth got overshadowed by weaker fee guidance and a rising non-performing loan ratio in its Greater China book.
Same sector, same quarter, opposite reactions. Worth remembering if you think holding all three banks means you're diversified. They don't always move together, but the correlation is still there most of the time — check the matrix in the app if you hold more than one.
Hong Kong tech had a rough week for a clearer reason.
Tencent fell after Thursday's earnings showed AI spending eating into profit — capex up 65% quarter-on-quarter, free cash flow turning negative for the first time since 2019.
Alibaba followed it down, hit by the same "AI spend now, monetisation later" concern plus a weak read-through from JD's earnings ahead of its own report due 20 August. Alibaba's volatility is now the highest in the tracked universe at 45% — that print next week is worth watching if you hold it.
- 📈 Biggest mover up: Yangzijiang Shipbuilding (+17.26% this week)
- 📉 Biggest mover down: SIA (-8.44% this week)
- 📊 Signal split: 41 bullish, 10 bearish on 20/50-day MA
- ⚡ Elevated volatility: Alibaba at 45.2% annualized
Price & Trend
| Stock | Price | 1wk | 1yr Return | Signal |
|---|---|---|---|---|
| DBS (D05.SI) | SGD 75.53 | +1.68% | +57.65% | BULLISH |
| OCBC (O39.SI) | SGD 31.32 | +8.39% | +92.84% | BULLISH |
| UOB (U11.SI) | SGD 40.92 | -4.08% | +20.87% | BULLISH |
| SGX (S68.SI) | SGD 25.24 | +3.78% | +59.49% | BULLISH |
| Singtel (Z74.SI) | SGD 4.45 | +2.53% | +13.77% | BULLISH |
| SIA (C6L.SI) | SGD 7.05 | -8.44% | +8.16% | BULLISH |
| SATS (S58.SI) | SGD 4.69 | -2.70% | +44.06% | BULLISH |
| ST Engineering (S63.SI) | SGD 10.96 | +6.93% | +33.59% | BEARISH |
| Keppel (BN4.SI) | SGD 11.17 | +0.09% | +34.50% | BULLISH |
| Sembcorp Industries (U96.SI) | SGD 5.83 | +4.29% | -3.35% | BEARISH |
| Seatrium (5E2.SI) | SGD 2.14 | -0.47% | -6.57% | BULLISH |
| Yangzijiang Shipbuilding (BS6.SI) | SGD 4.62 | +17.26% | +68.20% | BULLISH |
| Venture Corp (V03.SI) | SGD 16.90 | +4.26% | +34.36% | BEARISH |
| Wilmar International (F34.SI) | SGD 3.75 | -5.30% | +34.13% | BULLISH |
| Thai Beverage (Y92.SI) | SGD 0.47 | +2.17% | +4.39% | BULLISH |
| DFI Retail (D01.SI) | SGD 3.82 | -2.30% | +26.12% | BEARISH |
| Genting Singapore (G13.SI) | SGD 0.67 | +6.40% | -6.26% | BULLISH |
| Jardine Matheson (J36.SI) | SGD 62.34 | -1.69% | +10.15% | BULLISH |
| Hongkong Land (H78.SI) | SGD 8.67 | +8.92% | +42.79% | BULLISH |
| City Developments (C09.SI) | SGD 8.12 | +4.24% | +22.70% | BEARISH |
| UOL Group (U14.SI) | SGD 9.28 | -6.26% | +30.16% | BEARISH |
| CapitaLand Investment (9CI.SI) | SGD 2.74 | -0.36% | +0.74% | BULLISH |
| CapitaLand Integrated Commercial Trust (C38U.SI) | SGD 2.43 | -2.02% | +13.87% | BULLISH |
| CapitaLand Ascendas REIT (A17U.SI) | SGD 2.44 | -2.09% | -4.66% | BULLISH |
| Mapletree Industrial Trust (ME8U.SI) | SGD 1.91 | -1.04% | +1.64% | BULLISH |
| Mapletree Logistics Trust (M44U.SI) | SGD 1.17 | -4.10% | +6.78% | BULLISH |
| Mapletree Pan Asia Commercial Trust (N2IU.SI) | SGD 1.28 | -0.78% | -0.32% | BULLISH |
| Keppel DC REIT (AJBU.SI) | SGD 2.20 | -0.45% | +0.42% | BULLISH |
| Frasers Centrepoint Trust (J69U.SI) | SGD 2.20 | -0.90% | +0.72% | BEARISH |
| Frasers Logistics & Commercial Trust (BUOU.SI) | SGD 0.96 | -1.53% | +15.34% | BULLISH |
| Sheng Siong Group (OV8.SI) | SGD 3.21 | +1.16% | +55.38% | BULLISH |
| ComfortDelGro (C52.SI) | SGD 1.35 | +0.75% | -9.42% | BULLISH |
| SIA Engineering (S59.SI) | SGD 3.13 | -0.32% | +3.74% | BEARISH |
| Singapore Post (S08.SI) | SGD 0.35 | +4.48% | -29.63% | BULLISH |
| NetLink NBN Trust (CJLU.SI) | SGD 0.98 | -3.47% | +13.85% | BULLISH |
| Suntec REIT (T82U.SI) | SGD 1.50 | +0.67% | +25.57% | BULLISH |
| Keppel REIT (K71U.SI) | SGD 0.88 | -0.56% | -1.63% | BULLISH |
| Parkway Life REIT (C2PU.SI) | SGD 4.12 | -0.31% | +4.31% | BULLISH |
| Riverstone Holdings (AP4.SI) | SGD 0.84 | -1.18% | +31.08% | BULLISH |
| First Resources (EB5.SI) | SGD 3.95 | +5.33% | +148.00% | BULLISH |
| Delfi Limited (P34.SI) | SGD 0.82 | -4.65% | +12.74% | BEARISH |
| Apple (AAPL) | USD 305.93 (≈SGD 391.25) | -2.28% | +32.59% | BULLISH |
| Microsoft (MSFT) | USD 495.40 (≈SGD 633.57) | -0.92% | -4.00% | BULLISH |
| Alphabet (GOOGL) | USD 345.90 (≈SGD 442.37) | -2.37% | +70.13% | BEARISH |
| Amazon (AMZN) | USD 262.65 (≈SGD 335.90) | -4.31% | +13.69% | BULLISH |
| Nvidia (NVDA) | USD 225.16 (≈SGD 287.96) | +0.54% | +24.94% | BULLISH |
| Tencent (0700.HK) | HKD 440.00 (≈SGD 71.72) | -8.10% | -24.55% | BULLISH |
| Alibaba (9988.HK) | HKD 119.90 (≈SGD 19.54) | -3.15% | -1.45% | BULLISH |
| HSBC Holdings (0005.HK) | HKD 160.80 (≈SGD 26.21) | -0.19% | +66.74% | BULLISH |
| HSBC (London listing) (HSBA.L) | GBP 1,527.80 (≈SGD 2,638.66) | -0.09% | +60.24% | BULLISH |
| BP (BP.L) | GBP 522.90 (≈SGD 903.10) | +1.12% | +26.36% | BULLISH |
HKEX closes 16:00 local (4:00PM SGT) · LSE closes 16:30 local (11:30PM SGT) · NYSE/Nasdaq closes 16:00 local (4:00AM SGT)
Risk & Sharpe
| Stock | Volatility (ann.) | Sharpe Ratio |
|---|---|---|
| DBS | 15.53% | 3.49 |
| OCBC | 17.05% | 5.24 |
| UOB | 15.38% | 1.13 |
| SGX | 19.82% | 2.83 |
| Singtel | 22.78% | 0.45 |
| SIA | 15.47% | 0.3 |
| SATS | 22.68% | 1.79 |
| ST Engineering | 26.02% | 1.16 |
| Keppel | 24.71% | 1.25 |
| Sembcorp Industries | 19.76% | -0.35 |
| Seatrium | 28.16% | -0.36 |
| Yangzijiang Shipbuilding | 32.92% | 1.97 |
| Venture Corp | 23.76% | 1.3 |
| Wilmar International | 22.59% | 1.36 |
| Thai Beverage | 19.30% | 0.05 |
| DFI Retail | 32.89% | 0.69 |
| Genting Singapore | 22.57% | -0.43 |
| Jardine Matheson | 34.15% | 0.19 |
| Hongkong Land | 32.57% | 1.21 |
| City Developments | 25.34% | 0.76 |
| UOL Group | 28.35% | 0.94 |
| CapitaLand Investment | 16.16% | -0.17 |
| CapitaLand Integrated Commercial Trust | 14.38% | 0.72 |
| CapitaLand Ascendas REIT | 12.53% | -0.65 |
| Mapletree Industrial Trust | 10.62% | -0.18 |
| Mapletree Logistics Trust | 13.67% | 0.24 |
| Mapletree Pan Asia Commercial Trust | 14.01% | -0.27 |
| Keppel DC REIT | 14.18% | -0.22 |
| Frasers Centrepoint Trust | 10.52% | -0.26 |
| Frasers Logistics & Commercial Trust | 13.79% | 0.86 |
| Sheng Siong Group | 19.91% | 2.61 |
| ComfortDelGro | 16.91% | -0.76 |
| SIA Engineering | 20.88% | 0.01 |
| Singapore Post | 23.35% | -1.42 |
| NetLink NBN Trust | 8.48% | 1.22 |
| Suntec REIT | 19.61% | 1.13 |
| Keppel REIT | 16.41% | -0.31 |
| Parkway Life REIT | 10.33% | 0.08 |
| Riverstone Holdings | 32.99% | 0.84 |
| First Resources | 43.90% | 3.29 |
| Delfi Limited | 32.34% | 0.29 |
| Apple | 24.40% | 1.19 |
| Microsoft | 33.33% | -0.23 |
| Alphabet | 32.89% | 2.03 |
| Amazon | 35.14% | 0.29 |
| Nvidia | 37.92% | 0.57 |
| Tencent | 31.27% | -0.9 |
| Alibaba | 45.20% | -0.11 |
| HSBC Holdings | 26.75% | 2.36 |
| HSBC (London listing) | 26.73% | 2.12 |
| BP | 30.21% | 0.76 |
Correlation Highlights
Strongest pairs by magnitude, across the tracked universe:
Generated automatically. Not financial advice — for informational purposes only. Prices shown in SGD. Set your preferred currency in the app.