MONEY MASTER

Key Takeaways Wall Street closed at fresh record highs , supported by easing US-Iran tensions and a rebound in technology stocks. Maybank Research raised Singapore's 2026 GDP forecast to 4.6% , citing sustained AI-driven strength in manufacturing and semiconductors. Singapore equities opened lower , with investors locking in gains despite an improving economic outlook. DBS lowered Multiplier Account interest rates , reflecting a softer interest rate environment. CapitaLand Ascott Trust, Keppel Infrastructure Trust and Yangzijiang Financial  reported positive corporate developments, offering stock-specific opportunities. Market Overview Singapore shares opened modestly lower on Tuesday, even as global risk appetite improved following another record-setting session on Wall Street. The  Straits Times Index (STI)  slipped  0.49% , with investors taking a cautious stance after recent gains. In the US, the  Dow Jones Industrial Average  closed at a fresh all-time...

Quick Summary American Express saw stronger-than-expected customer spending Quarterly dividend raised by 16% to US$0.95 per share Earnings narrowly missed estimates due to higher investment costs Management warns proposed US credit-card rate cap could hurt the economy What Happened American Express Co  reported  robust customer spending  in the fourth quarter, signalling resilient consumer demand even as costs climbed. Transaction volume (billed business): US$445.1 billion ,  +9% YoY Beat Wall Street expectations of  US$441.4 billion Dividend increased by ~16%  to  US$0.95 per share , effective Q1 Earnings Snapshot EPS:   US$3.53  ( +16% YoY ), slightly below consensus of  US$3.56 Higher costs  weighed on profit, driven mainly by: Platinum card refresh Investments in AmEx’s new app and digital capabilities CEO  Stephen Squeri  said the spending is strategic and already delivering results. “Our investments are paying off — ...

Singapore’s banking sector may still look attractive for  income-seeking investors , but  shrinking interest margins and rich valuations  are set to cap upside in 2026, according to RHB Securities. After delivering  double-digit total returns in 2025 , Singapore banks are entering a more challenging phase where  dividend strength remains, but growth momentum fades . The Big Picture RHB expects  more modest returns for Singapore banks in 2026 , despite a supportive macro backdrop. What supports the sector Stable macroeconomic environment Strong wealth management inflows Sound asset quality High dividend yields What holds it back Net interest margin (NIM) compression Elevated sector valuations Limited room for valuation re-rating without higher ROEs “In the absence of a meaningful rise in ROEs, headroom for further valuation expansion may be limited.” Dividend Yields Still Attractive (FY26F) Despite margin pressure, dividends remain a key draw: DBS :  6....

  Strong Financial Performance OCBC Bank reported a record net profit of S$7.59 billion (US$5.68 billion) in 2024 , up from  S$7.02 billion in 2023 . Total income surged to S$14.47 billion , driven by: Net interest income of S$9.76 billion  (up from S$9.65 billion). Non-interest income of S$4.72 billion , a significant rise from S$3.86 billion. Capital Return & Dividends OCBC plans to return S$2.5 billion to shareholders over two years  via: Special dividends worth 10% of net profit for 2024 & 2025. Share buybacks. Dividends for 2024: Final ordinary dividend of 41 Singapore cents per share , bringing total  ordinary dividends to 85 cents per share . Special dividend of 16 cents per share , pending approval at the  2025 Annual General Meeting (AGM). Outlook & CEO’s Remarks CEO Helen Wong remains "cautiously optimistic" about regional growth in 2025. OCBC aims to  capitalize on market opportunities while managing economic uncertainties. Summa...

  Market Overview Singapore stocks opened lower on Wednesday , mirroring  US market declines  as concerns over  chip trade restrictions  and  weak consumer confidence  pressured tech stocks. Straits Times Index (STI) fell 0.23% to 3,906.84 , with 122 gainers vs. 90 decliners. US markets struggled , with the  Nasdaq falling 1.35%  and the  S&P 500 down 0.47% , as  potential semiconductor export restrictions  to China weighed on sentiment. Singapore Market Performance & Sector Highlights Singapore equities gained 6% in the past three months ,  outpacing ASEAN markets , driven by: Financial sector (+13%) , supported by rate alignment with the US. Telecom & Utilities sector growth , fueled by AI-driven  data center expansion . Government bond yields remain stable , benefiting from steady inflation and interest rate trends. Stocks to Watch OCBC Bank (O39.SG) : Q4 net profit rose 4% YOY to S$1.69 billion , but...