Morning Wrap | Singapore April Retail Sales Growth; Singtel Partners DISG on AI Initiative

Key Takeaways:

• Singapore Shares Opened Lower on Monday

• Wall Street Winning Streak Snaps on Fed Policy Fears After Hot Jobs Data

• Singapore Retail Sales Growth Accelerates to 5.4% in April

• Stocks to Watch: Singtel, SIA Engineering, etc.

📌 Market Snapshot

Today's Volume / Value: 42.76M / S$81.91M

Advancers / Decliners: 21 / 158

🇺🇸 Wall Street Summary

Wall Street's Nine-Week Rally Ends as Hot Jobs Data Stokes Fed Fears

Wall Street's nine-week winning streak ended abruptly last Friday, with the $Dow Jones Industrial Average (.DJI.US)$ falling 695.15 points or 1.4% to 50,866.78, the $S&P 500 Index (.SPX.US)$ dropping 200.57 points or 2.6% to 7,383.74, and the $Nasdaq Composite Index (.IXIC.US)$ plunging 1,121.53 points or 4.2% to 25,709.43. Technology stocks suffered their steepest single-day decline since April 2025, as a strong May jobs report sparked fears the US Federal Reserve may adopt a more hawkish stance.

$NVIDIA (NVDA.US)$, the largest company by market value, dropped 6.2%, while $Intel (INTC.US)$, $Micron Technology (MU.US)$, $Advanced Micro Devices (AMD.US)$ and $Broadcom (AVGO.US)$ fell between 7.9% and 13.3%. $Lululemon Athletica (LULU.US)$ plunged 8.6% after cutting its annual profit forecast and projecting second-quarter earnings well below estimates. $Cooper Companies (COO.US)$ surged 8.6% on better-than-expected second-quarter results. Cryptocurrency firms $Coinbase (COIN.US)$ and $Strategy (MSTR.US)$ declined 7.1% and 6.9% respectively, as $Bitcoin (BTC.CC)$ fell 4.1%.

🇸🇬 Breaking News

Singapore April Retail Sales Growth Quickens to 5.4%

Singapore's total retail sales rose 5.4% YoY in April 2026, up from 4.6% in March, the Department of Statistics reported. Excluding motor vehicles, sales increased 4.5% YoY, accelerating from 3.0% previously. On a seasonally adjusted basis, retail sales grew 0.3% MoM, or 0.4% excluding motor vehicles. Total retail sales reached $4.3 billion, with online sales accounting for 15.4%, down slightly from 15.6% in March.

Singapore HDB Resale Transactions Fall to 2,139 Units in May

HDB resale transactions fell 6.3% YoY to 2,139 units in May, down from 2,284 a year earlier, according to 99.co and SRX data. However, volumes rose 10.1% MoM from April's 1,943 transactions. Monthly resale activity peaked at 2,580 units in July 2025 before moderating to 2,213 in August and 2,186 in September.

🔔 Stocks to Watch

$Singtel (Z74.SG)$ announced Friday it will partner Digital Industry Singapore (DISG) to enhance AI-enabled operations, talent development, and governance frameworks. Singtel is the first company funded under DISG's new multi-year AI initiative.

$SIA Engineering (S59.SG)$ announced Saturday a US$118 million joint venture with Safran Aircraft Engines to establish a full-service aircraft engine shop in Singapore. The facility will provide maintenance, repair and overhaul services for CFM Leap engines.

$UMS (558.SG)$ announced Friday it signed a non-binding MOU to invest approximately US$3.6 million for a 51.6% stake in a Vietnam joint venture. The JV will consolidate three Vietnam-based precision engineering and metal plating companies.

$SamuderaShipping (S56.SG)$ announced Sunday that its chartered container vessel, Golden Star 1, sank Friday at 11 pm en route on the Singapore-Pasir Gudang service. All crew members were safely evacuated with no casualties reported.

$Lum Chang Creat (LCC.SG)$ said Monday it is "monitoring and evaluating market conditions" for its proposed placement ahead of a planned mainboard transfer. The placement aims to meet mainboard shareholding spread and distribution requirements. Due to timeline uncertainty, LCC will postpone applying to SGX for listing and quotation of bonus shares.

🧾 Share Buy Back Transactions

Source: Business Times, SGinvestors.io, Business Review, Poems

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