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Welcome to this week\u2019s edition of top stock market highlights.<\/p>\n
This week delivered significant developments across multiple sectors as Intel posted its best trading day in nearly four decades following Nvidia\u2019s US$5 billion investment, whilst US and Chinese negotiators advanced towards a resolution on TikTok\u2019s American operations.<\/p>\n
In Singapore, the IPO market remained active with Centurion Accommodation REIT\u2019s S$771 million listing and AvePoint\u2019s secondary listing by introduction, as Hongkong Land continued its strategic transformation with the S$739 million divestment of MCL Land to Malaysia\u2019s Sunway Group.<\/p>\n
Intel shares posted their best trading day since October 1987, surging 22.8% to US$30.57 on 18 September following Nvidia\u2019s announcement of a US$5 billion investment in the troubled chipmaker.<\/p>\n
The investment, made at US$23.28 per share, forms part of a strategic collaboration to co-develop data centre and PC chips.<\/p>\n
The partnership represents a significant vote of confidence in Intel\u2019s turnaround efforts, with Nvidia joining Softbank and the US government as major investors.<\/p>\n
The US government had previously invested US$8.9 billion for a 10% stake in August 2025, a position now valued at US$13.2 billion following the share price surge.<\/p>\n
Under the agreement, Intel will manufacture x86 central processing units for Nvidia\u2019s AI infrastructure platforms and develop x86 system-on-chips incorporating Nvidia\u2019s RTX graphics processing units for personal computers.<\/p>\n
White House deputy press secretary Kush Desai characterised the partnership as \u201ca major milestone for American high-tech manufacturing,\u201d underscoring the strategic importance of strengthening domestic semiconductor capabilities.<\/p>\n
Nvidia shares also responded positively, closing 3.54% higher on the day.<\/p>\n
Major progress emerged in the long-running saga over TikTok\u2019s US operations as negotiators from Washington and Beijing finalised a framework agreement that could reshape the social media giant\u2019s American presence.<\/p>\n
The deal, discussed during trade talks in Madrid this week, would create a new US entity with American investors holding approximately 80% and Chinese shareholders retaining the remaining 20%.<\/p>\n
The investor consortium includes technology giants Oracle, which fell 1.59% on the news, alongside private equity firm Silver Lake and venture capital firm Andreessen Horowitz.<\/p>\n
Existing ByteDance investors including Susquehanna International, KKR and General Atlantic would also participate in the new ownership structure.<\/p>\n
Under the proposed framework, existing US users would transition to a new app that TikTok has already built and is testing.<\/p>\n
Oracle would handle user data at its Texas facilities, whilst TikTok engineers would recreate content-recommendation algorithms using technology licensed from parent company ByteDance.<\/p>\n
The new entity would feature an American-dominated board with one member designated by the US government.<\/p>\n
President Trump announced the breakthrough, stating he would speak with Chinese President Xi Jinping on Friday to finalise details.<\/p>\n
The executive order extending the TikTok ban has been pushed back to 16 December, providing time for the transaction to complete.<\/p>\n
Wang Jingtao, deputy director of China\u2019s top cyberspace regulator, confirmed that \u201cboth sides have reached a basic consensus on resolving the TikTok issue,\u201d signalling Beijing\u2019s openness to licensing TikTok\u2019s algorithm and intellectual property rights for the US operation.<\/p>\n
Hongkong Land Holdings announced a transformative portfolio restructuring with the divestment of its MCL Land residential development business to Sunway Group for S$739 million (US$579 million).<\/p>\n
The transaction, involving Sunway Labuan Investment Ltd, represents a key milestone in Hongkong Land\u2019s strategic pivot towards ultra-premium integrated commercial properties.<\/p>\n
The sale encompasses MCL Land\u2019s entire Singapore and Malaysia residential development operations, including six residential developments currently under construction and the Wangsa Walk Mall in Kuala Lumpur.<\/p>\n
This brings Hongkong Land\u2019s total capital recycled since 2024 to US$2 billion, achieving 50% of the company\u2019s target of at least US$4 billion by the end of 2027.<\/p>\n
The proceeds will be utilised to reduce net debt and strengthen the balance sheet, with an additional US$150 million allocated to expand the share buyback programme.<\/p>\n
Chief Executive Michael Smith emphasised that the transaction advances the company\u2019s 2035 strategic vision to focus on developing and managing ultra-premium integrated commercial properties in Asian gateway cities.<\/p>\n
MCL Land, with its 60-year heritage, has completed 42 developments across Singapore and seven in Malaysia since 1992.<\/p>\n
The transaction ensures continuity for MCL Land\u2019s operations and employees, who will remain with the business under Sunway\u2019s ownership.<\/p>\n
Singapore\u2019s REIT market welcomed its first pure-play purpose-built living portfolio as Centurion Accommodation REIT prepared for its 25 September listing.<\/p>\n
The REIT, trading under ticker CMWU, marks the second-largest Mainboard listing this year with an IPO targeting S$771.0 million.<\/p>\n
The public offer of 13.2 million units at S$0.88 each opened on 18 September and closes on 23 September.<\/p>\n
The REIT\u2019s portfolio comprises 15 assets valued at S$2.2 billion, including five purpose-built workers\u2019 accommodation assets in Singapore, eight purpose-built student accommodation assets in the UK, and one in Australia.<\/p>\n
CEO Tony Bin highlighted favourable demand dynamics, noting that Singapore\u2019s approximately 400,000 to 500,000 foreign workers face just 124,700 permanent PBWA beds.<\/p>\n
Rental rates have surged from S$250 per bed in 2019 to approximately S$550 presently, with occupancy remaining robust at 96.9%.<\/p>\n
The REIT has projected attractive distribution yields of 7.47% for FY2026 and 8.11% for FY2027, with gross revenue expected to reach S$209.1 million in FY2026 and S$218.2 million in FY2027.<\/p>\n
Technology company AvePoint marked a significant milestone for Singapore Exchange with its secondary listing by way of introduction, offering local investors direct access to a US growth story without the company raising new capital.<\/p>\n
The Microsoft partner, which provides data management and governance solutions, chose Singapore to expand its investor base and tap into Asian growth opportunities.<\/p>\n
AvePoint\u2019s revenue trajectory demonstrates strong momentum, growing from US$232.3 million in 2022 to US$330.5 million in 2024, representing a 42% increase over the period.<\/p>\n
For the six months ended 30 June 2025, revenue reached US$195.1 million, up 27.9% year on year.<\/p>\n
The secondary listing strengthens Singapore\u2019s position as a technology hub whilst providing local investors with rare exposure to a profitable SaaS company.<\/p>\n
Trading in Singapore dollars simplifies portfolio management for local investors whilst signalling SGX\u2019s evolution beyond its traditional dividend-heavy offerings.<\/p>\n
This listing by introduction allows AvePoint\u2019s existing shares to trade on SGX without diluting current shareholders or raising new capital, demonstrating an alternative path for international companies seeking Asian market presence whilst maintaining their primary US listing.<\/p>\n
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