BTS
02-11 02:43

$Keppel(BN4.SI)$  $SGX(S68.SI)$  

The latest SG earnings season has delivered a tale of two blue chips, with Keppel (BN4) hitting a 12-year high on strong results, while SGX (S68) saw a share price pullback despite record revenue, prompting an analysis of how to navigate these mixed signals in the short and medium term

BN4 reached a 12-year high, driven by diversified growth and AI-powered data center demand, raising the question of whether the stock has already priced in the "Piyush Gupta effect" or if overvaluation risks are mounting after the rally

S68 posted record revenue from robust trading volumes and higher listing fees, but the share price dip presents a potential entry point for dividend investors seeking increased yield while remaining cautious of market volatility

BN4 benefits from new leadership and AI data center demand, while S68 offers dividend hunters an entry point amid price weakness; traders must weigh further upside against pullback risks, considering market trends and growth sustainability。。。

Earnings Review: Keppel Hit a 12-Year High While SGX Slipped, How to Trade?

@Tiger_SG：
This week, two earnings were out with mixed results. $Keppel(BN4.SI)$ surged 6%, reaching a 12-year high, while $SGX(S68.SI)$ despite posting its strongest half-year results ever — saw its share price dip 0.6%. Both delivered solid performance, so why did the market react so differently? Keppel: surprising numbers, dividends and super CEO announcement 1. Strong fundamentals Net profit in the second half rose 27.2%, bringing full-year earnings to S$1.1 billion. Its infrastructure and connectivity segments performed exceptionally well, aligning perfectly with the current AI data-center boom. 2. Attractive dividends Total dividend for the year reached S$0.47, including a special payout. In today’s environment, a ~4.3% yield combined with growth potential looks compelling. 3. High-profile leadership (key factor) Former DBS CEO Piyush Gupta has been appointed chairman-designate. Having led DBS to global prominence, his move to Keppel has sparked speculation — could Keppel evolve into the “DBS of asset management”? SGX: record revenue but “sell-the-news”? SGX’s half-year report was objectively strong: Revenue hit a record S$736 million, and adjusted profit rose 11.6%. Yet the stock edged down 0.6%. Three main reasons explain this: 1. Expectation gap Despite record revenue, results slightly missed elevated analyst expectations. For a quasi-utility heavyweight like SGX, failing to beat expectations often triggers short-term profit-taking. 2. Moderate headline profit growth Reported net profit increased only 0.8% to S$342.7 million. Adjusted numbers were better, but the headline figure appeared less impressive. 3. Market sentiment rotation CEO Loh Boon Chye noted capital is rotating from STI blue chips into mid-caps (with the iEdge Singapore Next 50 showing strong performance). This liquidity shift may temporarily weaken exchange stocks’ relative appeal. Discussion: How do you review SG earnings season? Keppel chase risk: After a 12-year high, has the Piyush Gupta effect already been priced in? SGX dip opportunity: Record revenue but a pullback — could this be a dividend investor’s entry point? For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs. Find out more here. Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP. Click to access the activity Other helpful links: 💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉 How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
Earnings Review: Keppel Hit a 12-Year High While SGX Slipped, How to Trade?

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