SGX Weekly Review｜STI Plunged 8.2% This Week; Mapletree Log, Keppel, DBS, YZJ Fin And Seatrium Slumped Over 10%

Singapore shares plunged 8.2% this week as US-China trade wars intensified, with Beijing slapping a retaliatory 125% tax on the US.

$Mapletree Log Tr(M44U.SI)$, $Keppel(BN4.SI)$, $DBS Group Holdings(D05.SI)$, $YZJ Fin Hldg(YF8.SI)$ and $Seatrium Ltd(5E2.SI)$ slumped over 10% this week.

Risks of bad loans, slowdown in region spark cuts in banks’ target prices; DBS downgraded to ‘sell’, OCBC, UOB get ‘hold’ rating

Analysts have downgraded their outlook on Singapore banks amid concerns of weaker loan growth and higher credit costs, as Trump’s tariffs threaten a global trade war.

UOB Kay Hian (UOBKH) downgraded DBS to “sell”, cutting its target price from S$49.80 to S$40. The brokerage maintained a “hold” rating for OCBC, cutting its target price from S$21.10 to S$16.85.

Similarly, DBS Group Research analysts downgraded UOB from “buy” to “hold”, while maintaining their “hold” rating on OCBC. UOB’s target price was slashed from S$38.50 to S$32.70, while OCBC’s target price was cut from S$17.60 to S$14.40.

Keppel Completes Voluntary Liquidation of Subsidiary

Keppel Corporation Limited has completed the member’s voluntary liquidation of its subsidiary, Keppel Capital One Pte. Ltd. This development marks the conclusion of the liquidation process announced in October 2024, potentially streamlining Keppel’s operations and allowing the company to focus on its core business areas.

YZJ Financial Sets Conditions for Treasury Share Sale

Yangzijiang Financial Holding (SGX:YF8) outlined the conditions for its planned sale of treasury shares to Merlion Quay Capital and Operie Capital, according to a Wednesday filing on the Singapore Exchange.

Completion is subject to several events not occurring, including significant adverse developments in financial markets or the company's condition.

Other triggers include geopolitical instability, major trading halts, or a drop in Yangzijiang Financial's share price to below 85% of its March 28 close.