Singapore, Jan 12, 2026, 15:35 SGT — Regular session
- Keppel shares climbed 0.7% in afternoon trading, staying close to a 52-week peak
- Investors are gearing up for Keppel’s full-year results, expected in early February
- Global risk appetite remains volatile, putting rate-sensitive stocks under the spotlight
Keppel Ltd shares climbed Monday afternoon, following a stronger Singapore market, with investors gearing up for the upcoming earnings report. The stock traded between S$10.49 and S$10.58, settling at S$10.54 by 3:08 p.m. local time, up 0.67%, on roughly 1.0 million shares exchanged. (SG Investors)
The immediate focus is on upcoming earnings. Keppel plans to release its second-half and full-year 2025 results before the market opens on Feb. 5. Its listed REITs will report in the days leading up to that. (Keppel)
Keppel’s share price is hovering near its recent high, with the stock’s 52-week range topping out at S$10.69. The upcoming earnings report will be the first major gauge of investor mood toward Singapore blue chips in 2026. The Straits Times Index was last up 0.67% at 11:35 a.m. SGT, according to MarketWatch.
Abroad, markets stumbled Monday following Federal Reserve Chair Jerome Powell’s revelation that the Trump administration threatened him with a criminal indictment. The episode raised new doubts about the Fed’s independence. “Trump is pulling at the loose threads of central bank independence,” said Andrew Lilley, chief rates strategist at Barrenjoey. (Reuters)
Keppel, the Singapore-based alternative asset manager and operator, is frequently viewed through the prism of interest rates and credit. That’s partly due to its portfolio mix and the fee income it generates from managing funds. Morningstar reported that Keppel had SGD 91 billion in assets under management as of the end of June 2025, with major exposure in infrastructure, real estate, and connectivity. (Morningstar)
Keppel’s earnings reports usually draw attention to fee-related income and fundraising activity — key indicators of how resilient its “asset-light” model remains amid market turbulence. The funds under management figure reflects the total client and investor capital it handles, which in turn supports recurring fees when the market plays along.
Investors will keep an eye out for any news on asset monetisation — Keppel’s way of describing the sale of assets or stakes to recycle capital, reduce debt, or pay dividends. This is where the risk lies: deals can falter, valuations fluctuate, and timing rarely matches the market’s tolerance.
There’s a clear “but” here. If financing costs remain elevated or risk assets dip, fundraising could slow down and asset sales might drag on — either way, fee growth would feel the squeeze, and capital return options would tighten.
Traders face a double-edged sword with the stock near its recent highs. While it attracts momentum buyers, it also risks swift profit-taking if the upcoming earnings report falls flat on detail or guidance.
