Market Snapshot

Singapore stocks opened higher on Thursday. STI rose 0.1%; SIA rose 0.5%; Seatrium rose 0.4%; UOB rose 0.3%; NIO fell 2%; ST Engineering fell 0.9%.

Stocks in Focus

CapitaLand Investment (CLI): Its subsidiary CapitaLand Commercial C-Reit (CLCR) received approval from the China Securities Regulatory Commission on Wednesday to register for its listing on the Shanghai Stock Exchange. CapitaMall SKY+ in Guangzhou and CapitaMall Yuhuating in Changsha will make up the initial portfolio, with CLCR set to become China’s first international-sponsored retail China real estate investment trust. The counter closed 0.4 per cent or S$0.01 lower at S$2.75 on Wednesday.

CapitaLand Ascott Trust (Clas): The lodging trust acquired three rental housing properties in Japan for a total of 4 billion yen (S$34.2 million), said managers of the real estate investment trust on Wednesday. The deal covers three properties: Splendide Namba West and Pregio Esaka South in Osaka, and Pre de Cort Nishikyogoku in Kyoto. The freehold properties are also expected to contribute to Clas’ distributable income “immediately”. Stapled securities of Clas ended on Wednesday 0.6 per cent or S$0.005 lower at S$0.875.

Singapore Paincare: The Catalist-listed medical services company requested its trading halt to be lifted after it called for an upcoming scheme meeting to be postponed. Shareholders were set to vote on a privatisation offer via a scheme of arrangement on Thursday. The company had also sent two WhatsApp messages to shareholders ahead of the meeting, which Securities Investors Association (Singapore) said was a breach of rule 8.6 of the code on takeovers and mergers. Its shares last traded on Tuesday at S$0.158.

SG Local News

Luxury Apartment Sales Pick up in H1 Amid New Launches and Lower Interest Rates

Sales of luxury apartments surged in the first half of 2025, with 45 units transacted for S$584.3 million, according to a CBRE report released on Wednesday (Aug 27).

This was up 53.9 per cent from the same period last year, when 34 units were sold for S$379.7 million, and more than double the S$228.4 million from 20 units in the second half of 2024.

CBRE attributed the rebound to a slew of condominium launches and a low interest rate environment.

China Tech Giant JD.com Unit, Two Other Firms Plan $1 Billion Singapore REIT, Sources Say

The property investment arm of Chinese e-commerce giant JD.com and two other firms plan to launch a Singapore-based real estate investment trust (REIT) with assets potentially valued at more than $1 billion, said two sources with knowledge of the matter.

JD Property, the unlisted infrastructure investment and asset management platform of JD.Com, is setting up the REIT with Swiss investment firm Partners Group and EZA Hill Property, which is backed by Asian investment firm Hillhouse, the sources said.

The planned REIT could be listed on the Singapore Exchange as soon as next year, added the sources, who declined to be named as the matter is private. The REIT plan has not been reported previously.

Temasek Unit SeaTown Raises over $612 Mln in First Close of Third Private Credit Fund

SeaTown Holdings International, a unit of Temasek's asset management arm Seviora Holdings, said on Wednesday it raised more than $612 million in the first close of its third private credit fund.

The company said the fund will offer tailored financing to Asia Pacific companies, aiming for mid-teens returns and double-digit yields while ensuring downside protection for investors.

"SeaTown Private Credit Fund III (PCF III) saw commitments from a diverse and global group of investors spanning the Middle East, Japan, Taiwan and Singapore," the Singapore-headquartered firm said.

Sea’s "Free Fire" Becomes Highest-Earning Mobile Shooting Game in US

US gamers are spending more on Sea’s Free Fire than Call of Duty Mobile, with anime and Netflix tie-ins helping the title surge in sales this year and rank as the highest-earning smartphone shooting game.

Free Fire jumped seven spots to sixth place in mobile game sales in July, helping push overall US mobile spending up 7 per cent, according to market tracker Circana. Sea’s collaboration with Japanese anime Naruto Shippuden is credited with helping drive user attention to a game that was first released in late 2017.

Anime interest in the US remains at an all-time high, with a large fan base for the Naruto series, telling a ninja coming-of-age tale.