From historic valuation milestones to massive portfolio overhauls and global tech giants doubling down on Singapore’s digital economy, the market saw significant activity this week.
A local banking giant joined an elite global tier, a healthcare REIT pivoted its entire geographic strategy, and a defence powerhouse secured a major Middle Eastern contract.
Here are the key stock market movers from the past week.
OCBC Joins the S$100 Billion Club
OCBC Bank (SGX: O39) crossed a significant milestone this week, with its share price hitting a record high and driving its market capitalisation past the S$100 billion mark.
Shares climbed as much as 3.1% on 1 April 2026 to a peak of S$22.65 before closing at S$22.55, a gain of 2.6% for the day.
OCBC becomes only the second Singapore-listed company to achieve this valuation, joining DBS Group (SGX: D05) in the exclusive club.
The rally was partly driven by the broader regional market recovery after US President Donald Trump signalled a potential end to the country’s military campaign in Iran.
Analysts highlighted that OCBC shares are gaining ground after underperforming in 2025.
This momentum is backed by strong earnings, as the bank reported a 3% year-on-year (YoY) rise in fourth-quarter 2025 net profit to S$1.75 billion.
Furthermore, a shift in capital management strategy signals a potential 60% profit payout for the current year, making the bank a top pick for institutional investors.
First REIT Exits Indonesia in S$471.5 Million Portfolio Sale
First Real Estate Investment Trust (SGX: AW9U) announced a bold strategic pivot to divest its entire Indonesian portfolio for S$471.5 million.
The move is designed to stabilise distributions by eliminating the Indonesian rupiah volatility that has historically impacted unitholder returns.
As part of the transaction, eight hospitals will be sold to Siloam International Hospitals for S$389.2 million, representing a 2.8% premium over valuation, alongside other non-core assets.
This divestment significantly strengthens the balance sheet, with aggregate leverage expected to drop to 16.7%, resulting in estimated annual interest cost savings of S$18.8 million.
To reward investors, the manager intends to recommend a special distribution of S$9.7 million and has waived its S$2.4 million divestment fee.
Looking ahead, the trust will focus on identifying acquisition opportunities in developed Asia-Pacific markets, specifically targeting Singapore, Japan, and Australia.
ST Engineering Secures S$600 Million Kuwait Defence Contract
Singapore Technologies Engineering (SGX: S63) continues to expand its footprint in the Middle East.
Its marine business secured a six-year, S$600 million subcontract to design and supply platform systems for eight missile gunboats for the Kuwait Naval Force.
The group will build three of these vessels at its Singapore shipyard.
Based on the proprietary Fearless-class design, the platforms are optimised for high redundancy and mission readiness in challenging maritime environments.
This award reinforces the ability of ST Engineering to deliver sophisticated naval solutions and meet the rising demand for advanced maritime security in the region.
Tan Leong Peng, president of ST Engineering’s marine business, noted that the win underscores the group’s ability to deliver sophisticated naval platforms and captures rising demand for advanced maritime security solutions in the Middle East.
Microsoft Commits US$5.5 Billion to Singapore’s AI Future
In its largest single-country commitment to date, Microsoft (NASDAQ: MSFT) pledged to invest US$5.5 billion in Singapore through 2029.
This commitment forms part of a broader US$50 billion global AI infrastructure push.
The investment focuses on a major expansion of cloud and artificial intelligence capabilities within the Republic.
Core initiatives include talent development, where all 200,000 tertiary students in Singapore will receive a 12-month Microsoft 365 with Copilot membership.
Additionally, partnerships with the Singapore Management University, the Institute of Technical Education, and Singapore Polytechnic will focus on building AI and customer relationship management skills.
With Singapore’s AI adoption rate reaching 60.9% in 2025 – the second-highest globally – this investment cements the nation’s status as a critical node in the global digital landscape.
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