Broker Name: CGS International
Date of Report: September 30, 2025
Excerpt from CGS International report.
Report Summary
- The MSCI Singapore Free SGD Index (SIMSCI) closed September 2025 at 446.45, up 0.55% month-on-month, driven by strong performances from GRAB and Singapore Technologies Engineering (STE).
- Singapore’s exports (NODX) and industrial production declined sharply in August, but economists maintain a 2025 year-end NODX growth forecast of 3.3%. Manufacturing PMI returned to expansion territory, though semiconductor tariffs may pose challenges ahead.
- Sector outperformers for September were transport, capital goods, and consumer discretionary; underperformers included consumer staples and communication services. Retail investors were net buyers, while institutions were net sellers, especially in financials.
- Corporate highlights include Centurion spinning off worker accommodations as a REIT, SCG trading post-reverse takeover, and HKL selling MCL for S\$738.7m. SANLI was initiated with an Add rating, and ST was upgraded to Add after positive investor feedback.
- Technically, SIMSCI broke key resistance, reached a high, and is now in a mild correction expected to find support before rebounding. The 6-month target is set at 482.00 points.
Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgsi.com/
