SG Property Intelligence: Jun-26 review: Affected by oil price volatility

研报英文原文证据摘录

SG Property Intelligence: Jun-26 review: Affected by oil price volatility

J P M O R G A N Asia Pacific Equity Research

02 July 2026

SG Property Intelligence

Jun-26 review: Affected by oil price volatility

Singapore/ASEAN Property and

REITs

Singapore Property and REITs - Jun-26 review: Affected by oil price volatility AC Terence M Khi

Concerns over inflation and potential US rate hikes due to the Middle East conflict

(65) 6882-1518

initially weighed on S-REITs (+0.4% including distributions) with a recovery at terence.ml.khi@jpmorgan.com

month end due to the ceasefire agreement. The lack of positive news flow and delay AC Mervin Song, CFA

in EQDP initiatives also pressured developers (-5.4%). Overall, both sectors (65) 6882-7829

underperformed the STI (+2.6%) and MXSG (+4.2%). Retail (+2.7%) was the mervin.song@jpmorgan.com

best-performing segment, benefiting from lower oil prices in the second half of J.P. Morgan Securities Singapore Private Limited/

J.P. Morgan Securities (Asia Pacific) Limited/ J.P.

June. Heading into the upcoming reporting season, we recommend positioning in Morgan Broking (Hong Kong) Limited

growth exposures, with top picks CICT, KEP and UOL, while also seeing

opportunities in the value-up thematic in CIT, trade-exposed names such as

FLT and MLT, and "fallen angel" MPACT. Link (Source: J.P. Morgan)

Companies

CICT completed the acquisition of Paragon on 1 July. (Source: Capitaland

Integrated Commercial Trust)

Sector

UOB Vietnam has started construction of its US$450 million UOB Plaza Ho

Chi Minh City, making it the first foreign bank to develop and own a purpose-built

headquarters in the Vietnam International Financial Centre. (Source: The Business

Times)

Singapore housing price momentum softened in Q2 2026, with URA flash