Singapore, Jan 29, 2026, 15:39 SGT — Regular session
- City Developments (SGX:C09) slipped 0.4% in afternoon trading
- MAS keeps policy steady but raises its inflation forecast
- Investors focus on CDL’s FY2025 results and briefing scheduled for Feb. 27
City Developments Limited shares slipped 0.4% to S$9.30 on Thursday. The Singapore-listed property firm saw its stock fluctuate between S$9.26 and S$9.46, hovering close to the upper end of its 52-week range. Trading volume reached around 1.6 million shares. (SG Investors)
The dip followed the Monetary Authority of Singapore’s fresh policy update, which kept monetary settings steady but highlighted rising risks to growth and inflation. OCBC economist Selena Ling described the stance as “a tad more hawkish and less dovish,” with MAS noting that risks remain “tilted to the upside.” (Reuters)
In market terms, “hawkish” typically signals a central bank’s reluctance to ease policy. The MAS manages policy via the Singapore dollar nominal effective exchange rate (S$NEER) band instead of a standard interest rate, yet changes in its language can still sway expectations for financial conditions and impact rate-sensitive real estate stocks.
Singapore equities have gained momentum this month, with brokers optimistic about the rally’s durability. JPMorgan analysts, led by Khoi Vu, highlighted factors like “upbeat earnings outlooks, a strong Singapore dollar, high dividends” fueling the surge. They singled out developer UOL Group as a top pick. (The Business Times)
City Developments is gearing up for its next major event: the earnings report. According to a Singapore Exchange filing, CDL plans to publish its unaudited FY2025 results before trading kicks off on Feb. 27. An analyst and media briefing will follow at 10 a.m., complete with a live webcast. (SGX Links)
The company’s activities span property development, investment properties, and hotel operations, making it vulnerable to shifts in housing sentiment as well as travel-related demand. (Reuters)
That said, the backdrop could swing the other way. Should investors begin factoring in tighter policy moves down the line, property stocks might lose momentum. This is particularly true with CDL hovering near recent highs while global growth remains patchy.
Traders are eyeing any sudden shifts in the Singapore dollar and local rate forecasts following the MAS statement. But the key date on the CDL calendar is Feb. 27, when investors expect updates on earnings, balance-sheet trends, and asset recycling progress.
