Singapore shares closed slightly higher this week on improved sentiment following the cooling of the US-China trade war. The Straits Times Index (STI) ended the week at 4,428.62, down 6.14 points or 0.14% compared to last week.

In terms of individual stocks, China Aviation surged over 13%; First Resources gained over 6%; Keppel, iFast rose around 5%; AvePoint down nearly 6%; JMH USD, PropNex down over 4%.

Market News

Singapore's Labor Market Expands, But Wage Growth Might Ease

Singapore's labor market continued to expand in the third quarter, but officials warn that wage growth is likely to moderate.

Total employment, excluding migrant domestic workers, grew by 24,800 during the quarter, according to preliminary data from the Ministry of Manpower on Thursday.

The latest figure marks a rise from the 10,400 increase in the second quarter, and the 22,300 expansion in the third quarter of last year.

The data also shows that labor-market conditions were stronger than expected in the third quarter, driven by the city-state's econ

China Aviation Soars 13% as Fuel Giant Set for Restructuring, Unit Says

State-owned China National Aviation Fuel Group, the country's dominant jet fuel distributor, will undergo a restructuring with another conglomerate, its Singapore-listed subsidiary said in a filing.

China Aviation Oil (Singapore), CNAF's Singapore-based unit in charge of importing jet fuel to China, said in a statement late on Thursday that parent company CNAF "will be undergoing a corporate restructuring with another corporate conglomerate".

The restructuring remains subject to further procedures and approvals, CAO said, without providing more details.

Keppel Net Profit Rises over 5% in First Nine Months of 2025

$Keppel Ltd.(BN4,SI)$ said on Oct, 30 2025 that net profit for its “New Keppel” operations—excluding the non-core portfolio earmarked for divestment and the discontinued M1 telco unit—rose by more than 25% year on year in the first nine months of 2025.

The company reported overall net profit growth of over 5% year on year after including an accounting loss tied to the planned sale of M1’s telecommunications business. Recurring income increased by nearly 15% on stronger asset-management and operating contributions.

Asset-management fees were steady at 299 million Singapore dollars during the period, while private funds added 6.7 billion Singapore dollars in funds under management. Recently announced transactions by the group’s listed trusts are expected to add a further 1.4 billion Singapore dollars of assets under management once completed.

iFast Reports 54.7% Increase in Earnings to $26.01 Million for 3QFY2025

iFast Corporation announced earnings of $26.01 million for 3QFY2025, which ended on September 30, marking a year-on-year increase of 54.7%. For the first nine months of FY2025, earnings grew by 41.8% year-on-year to $67.2 million. Shares of iFast rose 5% for the week.

Revenue for 3MFY2025 rose by 35% year-on-year to $117 million, while revenue for the first nine months of FY2025 increased by 25% year-on-year to $311.9 million.

As of September 30, iFast's assets under administration (AUA) increased by 29.6% year-on-year to $30.62 billion. AUA growth in Singapore, Hong Kong, Malaysia, and China was 28.7%, 25%, 17.5%, and 61.7% year-on-year, respectively.

Mapletree Industrial Trust 2QFY25/26 Revenue at S$170.2 Million

Mapletree Ind Tr drops 2.3% this week. Mapletree Industrial Trust (MIT) reported distributable income of S$90.7 million for the quarter ended Sept 30 2025, down 5.3 % year-on-year, as the absence of a one-off divestment gain and lower earnings from recently sold properties offset rental growth in its Singapore portfolio.

Second-quarter gross revenue slipped 6.2 % YoY to S$170.2 million, while distribution per unit (DPU) fell 5.6 % to 3.18 Singapore cents. The payout will be made on Dec 10 2025 to unitholders on record as of Nov 6 2025.

Net property income declined 7.8 % YoY to S$124.0 million, hurt mainly by the mid-August divestment of three Singapore assets, non-renewal of leases in North America and the depreciation of the U.S. dollar. These headwinds were partly offset by maiden contributions from a freehold mixed-use facility in Tokyo and the completion of the final fitting-out phase at the Osaka Data Centre.