Singapore Market Week Ahead: A Week of Earnings, Dividends and Economic Data

February 5, 2024

The Singapore market is poised for a bustling week ahead as several REITs and trusts prepare to release earnings reports and declare dividends amidst a backdrop of key economic data releases. Investors and market watchers will have their calendars marked for a series of events that could provide insights into the health of the local economy and individual sectors.

Earnings and Dividends: A REIT Focus

The week kicks off with updates from the real estate sector, a significant component of the Singapore market. Paragon REIT (SGX: SK6U) is set to release its earnings after the market closes on Monday, February 5th, setting the tone for the REIT market for the week. At Prosperus, we will also be having a webinar session with Paragon REIT where both the CEO and CFO will present. Click on the link to register for the webinar session on Wednesday, 3pm, this week.

Additionally, a series of ex-dividend dates for a variety of REITs, including Mapletree Panasia Commercial Trust (SGX: N2IU), Starhill Global REIT (SGX: P40U), and CapitaLand Ascott Trust (SGX: HMN), among others, will be closely watched by income-focused investors. These ex-dividend dates are pivotal for shareholders to be entitled to the next dividend payout.

Economic Indicators: Retail and PMI Data in Focus

Monday is packed with economic data releases that could sway market sentiment. The S&P Global Singapore PMI figures will be out early in the day, providing a gauge of the economic activity in the services sector. Retail sales data, excluding automobiles, will follow, offering a window into consumer spending behavior. The YoY and MoM figures will help investors assess the strength of the domestic consumer market, which has been a critical driver of the economy.

Regional and Global Context

Singapore’s market does not operate in isolation, and regional PMI data from neighboring countries like China and India, as well as trade balance information from Australia, will add to the macroeconomic picture. The performance of the Singapore market is often intertwined with the economic health of its trade partners and regional neighbors, making these indicators particularly relevant.

The Week Ahead

Looking forward to Tuesday, February 6th, CapitaLand Integrated Commercial Trust (SGX: C38U) will report before the market opens. This report is highly anticipated, given the trust’s significant footprint in the commercial and retail space.

Throughout the week, various ex-dividend and ex-entitlement dates will continue to be significant for shareholders in trusts such as Keppel REIT and CDL Hospitality Trusts. These dates are critical for investors’ calendars as they determine eligibility for the next round of dividend distributions.

Macro View

From a macroeconomic perspective, the week’s data releases will culminate with the Singapore Automobile COE Open Bid results on Wednesday, providing insights into the demand for cars and, by extension, consumer confidence and spending ability.

Concluding Thoughts

As we navigate the week’s events, investors will be balancing corporate earnings with economic data to inform their market outlook. The REIT sector, in particular, will be under scrutiny with several key players reporting earnings and declaring dividends. Meanwhile, economic indicators like PMI and retail sales data will help paint a broader picture of Singapore’s economic resilience and consumer sentiment.

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Disclaimer: ProsperUs Head of Content & Investment Lead Billy Toh doesn’t own shares of any companies mentioned.

Billy Toh

Billy is deeply committed to making investment accessible and understandable to everyone, a principle that drives his engagement with the capital markets and his long-term investment strategies. He is currently the Head of Content & Investment Lead for Prosperus and a SGX Academy Trainer. His extensive experience spans roles as an economist at RHB Investment Bank, focusing on the Thailand and Philippines markets, and as a financial journalist at The Edge Malaysia. Additionally, his background includes valuable time spent in an asset management firm. Outside of finance, Billy enjoys meaningful conversations over coffee, keeps fit as a fitness enthusiast, and has a keen interest in technology.

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