SG Morning Call | Singapore Stocks Open Higher; JPMorgan Bullish on Singapore Stocks, Names 7 Top Picks

Market Snapshot

Singapore stocks opened higher on Friday. STI rose 0.2%; SIA rose 1%; Singtel rose 0.9%; OCBC, SGX, and Keppel rose 0.5%.

Stocks in Focus

$Stoneweg Europe Stapled Trust(SET.SI)$ (Sert): The managers of Sert on Friday said that it has entered into an agreement to divest a non-core office property in Italy – Via Amba Aradam Rome – for a consideration of 34 million euros (S$51.4 million). Simon Garing, chief executive officer of the managers, said an “office reconversion strategy” had been explored for the property previously. However, the asset delivered superior value as a hotel redevelopment, supported by its prime central Rome location. Stapled securities of Sert ended Thursday 0.6 per cent or 0.01 euro up at 1.61 euros.

$Coliwoo(W8W.SI)$: The co-living operator has entered into a sale and leaseback agreement with regard to Coliwoo PP, its subsidiary that manages Coliwoo Hotel Pasir Panjang, a premium co-living hotel property. It will dispose of its 80 per cent stake in Coliwoo PP while simultaneously entering into a leaseback arrangement that allows it to continue operating the hotel property. The group said this is part of its capital recycling strategy and move towards a more asset-light business model. Coliwoo shares closed on Thursday 1.8 per cent or S$0.01 lower at S$0.55, before the news.

SG Local News

JPMorgan Bullish on Singapore Stocks Amid Expected Asean Rebound

Asean equities will be at an inflexion point in 2026, with a recovery in earnings and valuations expected after years of underperformance, analysts at JPMorgan said.

For Singapore, it said that the equities rally has a “long way to go” as new measures including the S$5 billion Equity Market Development Programme and the Singapore Exchange-Nasdaq dual-listing bridge create the potential for return on equity to rise to a historical high of 12 per cent. This is compared with the current level of 10 per cent.

JPMorgan said that 2026 will feature an upside for Singapore equities as global funds remain under-positioned and a much-larger-than-average cash pile of S$70 billion begins rotating from deposits into the stock market.

JPMorgan named seven stocks as its top Singapore picks for 2026: DBS, Keppel, City Development, CapitaLand Integrated Commercial Trust, ST Engineering, Sea and Singtel.

Conversely, it listed UOB and Yangzijiang Shipbuilding as its least preferred stocks.

StanChart, Ant International Launch Blockchain-Based Tokenised Deposits in Singdollar, Greenback

Standard Chartered (StanChart) on Thursday (Dec 18) announced the launch of blockchain-based “tokenised deposits” in Singapore and US dollars for Ant International. This will enable the fintech firm to move funds in real time, 24/7, and optimise its cash flow via its treasury platform Whale, said the lender. 

The bank added that it aims to “set the blueprint” for how commercial banks can help companies move money between traditional bank accounts and modern blockchain networks.

The new solution demonstrates how businesses can use blockchain technology to make transactions faster, more secure and more efficient, said StanChart.

SMRT to Upgrade 92 Trains with Improved Air-Conditioning, More Sensors to Preempt Disruptions in Real-Time

Train operator SMRT will progressively roll out new features such as an improved air-conditioning system and more timely detection of potential faults to 92 trains, in a move to enhance rail reliability, the transport operator said on Thursday (Dec 18).

These enhancements stem from a new prototype train being tested by STRIDES Technologies, an SMRT subsidiary.

By using an additional 180 sensors placed throughout the train, the system can detect early signs of faults and potentially prevent lengthy service disruptions. Variables such as cabin temperature will also be monitored in real time.