Singapore’s stock market was buzzing in midday trading on 10 December 2025 , with activity concentrated in a mix of speculative penny counters, marine and offshore plays, and blue-chip financials and REITs. As of 1:49pm SGT , Salt Investments, Marco Polo Marine, Trendlines and Genting Singapore led the Top Volume board, while Singtel, UOB, DBS and Yangzijiang Shipbuilding anchored the Top Trading Value list on SGX, according to data compiled by SGinvestors.io. [1]
Below is a detailed look at what’s moving, why these counters are so active today, and how analysts and investors are positioning around them.
Market overview: Sideways STI as Fed decision looms
Singapore shares have spent the past week consolidating just above the 4,530 level on the Straits Times Index (STI), after a six-day winning streak earlier in December pushed the benchmark to around 4,554.5 points . [2]
- On December 3 , bank‑led gains lifted the STI by about 0.4% , with OCBC hitting a record high as investors bet on resilient earnings and an impending US Federal Reserve rate cut. [3]
- By 5–6 December , the index slipped roughly 0.1% amid worries over US growth, signaling more cautious sentiment on the SGX. [4]
- Futures markets are now pricing a high probability (≈85–90%) that the Fed will deliver a 25bps cut on 10 December , a key macro event for interest‑rate‑sensitive banks and REIT counters. [5]
Against this backdrop, today’s most active SGX stocks tell a story of selective risk‑taking : traders are rotating into high‑beta marine names and speculative micro‑caps while institutions stay engaged in bank and REIT heavyweights.
Top SGX volume movers on 10 December 2025
1. Salt Investments (FQ7): Massive volume, tiny price
- Last traded: S$0.002 (flat intraday)
- Volume: ~97.6 million shares
- Day range: S$0.002 – S$0.003 [6]
Salt Investments, formerly known as Jasper Investments , is an investment holding company focused on marine and shipping , including ship repair and offshore‑related services. [7]
Key context:
- The company has been loss‑making , with negative EBITDA and net margins , and is rated “sell” to “strong sell” on several technical‑analysis dashboards. [8]
- In October 2025 , Salt completed a huge equity issue of about 3.16 billion new shares , significantly diluting existing shareholders and reshaping the shareholder base. [9]
- Half‑year results released in November showed ongoing restructuring efforts and highlighted capital‑raising as a key theme for the group. [10]
Today’s heavy turnover around the unchanged S$0.002 level suggests churning among speculative traders in a very low‑priced micro‑cap rather than a fundamentals‑driven rerating. With Salt’s large share count, negative earnings and dilution risk , this remains a high‑risk, high‑volatility play.
2. Marco Polo Marine (5LY): Earnings surge draws momentum money
- Last traded: S$0.153 ( +2.68% )
- Volume: ~49.9 million shares
- Day range: S$0.150 – S$0.157, at the top of its 52‑week range (S$0.033 – S$0.153) [11]
Marine infrastructure and offshore support vessel player Marco Polo Marine is one of the standout stories on SGX this earnings season:
- FY2025 net profit attributable to shareholders jumped about 170% year-on-year to S$58.5 million , helped by strong operations and extraordinary impairment reversals . [12]
- Revenue was broadly flat at around S$122.8 million , but gross margin improved from ~39% to over 44% , and EBITDA grew more than 17% to S$50.1 million, highlighting stronger underlying profitability. [13]
- The company declared a 50% higher final dividend of 0.0015 S$ per share , and management has flagged opportunities in offshore wind and yard expansion as key growth pillars. [14]
Analysts covering the counter have lifted their fair value estimates , with one recent report pegging a target around S$0.14 following the profit jump and capital-light growth plans. [15]
With the price now trading above that level intraday , today’s strong volume looks like a combination of:
- Momentum traders chasing a 52‑week‑high breakout , and
- Investors repositioning after the bumper FY2025 numbers and higher dividend .
The key forward risk is whether earnings can normalize at a higher base once one‑off gains fade and offshore project cycles turn.
3. Trendlines Group (42T): Dilution overhang after new share subscription
- Last traded: S$0.071 ( –7.79% )
- Volume: ~21.3 million shares
- Day range: S$0.068 – S$0.073 [16]
Trendlines Group is an Israel‑based investment and incubation specialist in agrifood‑tech and medical devices , listed on SGX’s Catalist board. [17]
Today’s sell‑off and hefty turnover come immediately after a busy week of SGX announcements:
- On December 8 , the company requested a trading halt . [18]
- On December 9 , Trendlines announced a proposed subscription of 51.4 million new shares , followed by a request to lift the trading halt later that evening. [19]
The new share subscription strengthens the balance sheet but also dilutes existing shareholders , which helps explain why the stock has retreated from recent highs even as volumes spike. Fundamental data still show:
- Negative earnings and EBITDA , and
- A modest market cap (around S$80–100 million), with shares having rallied sharply from a 52‑week low of about S$0.026 earlier this year. [20]
For investors, the story is a classic early‑stage venture platform: higher upside potential from portfolio exits, but substantial funding and liquidity risk .
4. Pacific Radiance (RXS) & AJJ Medtech (584): High-beta micro-caps on the move
Both Pacific Radiance and AJJ Medtech are trading in sub‑S$0.15 territory , but each saw over 20 million shares change hands by early afternoon:
- Pacific Radiance (RXS) rose about 2.1% to S$0.099 on volume of 21.1 million shares , extending a volatile range between S$0.081 and S$0.114 over the past three months. [21]
- AJJ Medtech (584) jumped 9.1% to S$0.012 , with more than 20.2 million shares traded and volume well above its recent averages. [22]
Both companies sit in speculative territory where small absolute price moves translate into double‑digit percentage swings. In the absence of fresh, price‑sensitive SGX announcements today, the surge looks trader‑driven rather than fundamentally driven , and investors typically treat these as short‑term momentum plays rather than core holdings.
5. Genting Singapore (G13): Active again after ratings downgrade and RWS rebound
- Last traded: S$0.735 ( +0.68% )
- Volume: ~16.8 million shares [23]
Casino and integrated resort operator Genting Singapore , which owns Resorts World Sentosa (RWS) , continues to draw high volume:
- In 3Q2025 , RWS reported a 16% year-on-year jump in revenue to S$649.8 million , with non-gaming attractions such as new themed offerings and tourism recovery driving growth. [24]
- At the group level, Moody’s recently downgraded the wider Genting group , including Genting Singapore, citing higher leverage and execution risks across the conglomerate. [25]
Today’s modest price gain despite a credit‑ratings overhang suggests investors are balancing stronger operating metrics at RWS against rising group‑level debt risks . The counter remains a liquid proxy for regional tourism and discretionary spending in Singapore.
Blue‑chip heavyweights and REITs dominate trading value
While penny stocks dominate by volume , blue chips and large REITs still attract the lion’s share of traded value on SGX.
1. Singtel (Z74): Top turnover as investors weigh dividends vs Optus drag
- Last traded: S$4.58 ( –0.22% )
- Trading value: ~S$56.2 million (No. 1 by value) [26]
Singtel is the most actively traded blue‑chip today, even as the share price eases slightly:
- For FY2025 , Singtel raised its total dividend to S$0.17 per share , up from S$0.15, supported by growth in ICT services and data-centre related themes. [27]
- At the same time, the group continues to grapple with reputational and regulatory fallout at Australian subsidiary Optus , following network outages and public scrutiny earlier this year, even as overall profit improved. [28]
With the stock trading near the upper end of its S$3.03–4.92 52‑week range, today’s activity likely reflects portfolio rebalancing ahead of the Fed decision and yield‑seeking investors benchmarking Singtel’s payout against local REITs and banks. [29]
2. DBS (D05) vs UOB (U11): Diverging bank stories
DBS Group and United Overseas Bank (UOB) are both in the Top 3 by trading value today, but their fundamental narratives diverge.
DBS Group Holdings (D05)
- Last traded: S$54.00 ( –0.22% )
- Trading value: ~S$40.3 million [30]
DBS continues to be seen as the quality leader among Singapore banks:
- Q3 2025 net profit slipped only about 2% year-on-year to S$2.95 billion , yet still beat market expectations, with total income at a record S$5.93 billion and ROE above 17% . [31]
- The bank raised its quarterly dividend to S$0.75 per share , signaling management confidence even as net interest margins edge down. [32]
- DBS also announced an expanded fintech partnership with Ant International , broadening QR payments and cross‑border remittance reach across more than 100 markets. [33]
Active trading today likely reflects institutional positioning in a name seen as relatively resilient to rate‑cut headwinds, with investors focusing on fee income growth and regional wealth management rather than pure NIM expansion.
United Overseas Bank (U11)
- Last traded: S$34.07 ( –0.61% )
- Trading value: ~S$44.3 million (No. 2 by value) [34]
UOB is seeing brisk activity as markets digest a much weaker Q3 print :
- Q3 2025 net profit plunged about 72% to S$443 million , driven mainly by S$1.36 billion in credit provisions , including S$615 million of pre‑emptive allowances tied to commercial property exposures in Hong Kong and the US. [35]
- Management has guided for lower net interest margins in 2026 (around 1.75–1.80%, vs 1.85–1.90% this year), reflecting expectations of lower benchmark rates. [36]
As a result, today’s active trading in UOB shares is partly about investors re‑pricing risk around property‑credit quality and margin compression , while also assessing whether the proactive provisions have front‑loaded the pain .
3. OCBC, Yangzijiang Shipbuilding and SGX: Cyclicals in play
- OCBC (O39) is trading at S$18.81 , up slightly, after recently touching a record high of S$18.95 on the back of solid Q3 earnings and strong wealth-management income. [37]
- Yangzijiang Shipbuilding (BS6) , at S$3.39 and up about 0.6% , continues to attract turnover (~S$26.2 million) as investors seek exposure to a robust order book in global shipbuilding , including energy-transition-linked vessels. [38]
- Singapore Exchange (S68) itself is also on the Top Value list, with S$12.7 million traded around S$16.67 , supported by earlier disclosures of higher half-year profits and optimism over its listings pipeline. [39]
4. REITs in focus: CICT, CapitaLand Ascendas REIT and Lendlease REIT
REITs remain central to Singapore’s income-investing theme and are well-represented among today’s most active names:
- CapitaLand Integrated Commercial Trust (CICT, C38U) traded over 8.6 million units with about S$20 million in value at S$2.32 , as investors weigh central‑city office and retail exposure against impending rate cuts and consumer‑spending trends. [40]
- CapitaLand Ascendas REIT (A17U) posted S$17.6 million in turnover at S$2.75 , remaining a core proxy for business-park and logistics assets in Singapore and overseas. [41]
- Lendlease Global Commercial REIT (JYEU) appears on both the Top Volume and Top Value lists, trading at S$0.60 with 12.2 million units changing hands. [42]
Recent developments around Lendlease REIT include:
- A S$270 million private placement announced in November to fund acquisitions, issuing about 452 million new units at S$0.597, which temporarily pressured the unit price but strengthened its capital base. [43]
- An update showing committed portfolio occupancy improving to around 95% , aided by asset recycling and a focus on prime malls such as Jem and 313@somerset. [44]
This combination of equity fund‑raising, strong assets and resilient occupancy explains why the counter remains heavily traded as yield‑focused investors recalibrate their positions.
5. Yangzijiang Financial (YF8): High‑yield play with heavy turnover
- Last traded: S$0.445 ( +1.14% )
- Volume: ~10.9 million shares [45]
Spun off from Yangzijiang Shipbuilding, Yangzijiang Financial has emerged as a high‑dividend, higher‑risk financial play:
- The stock offers an annual dividend of S$0.035 per share , implying a yield of around 7.7% at recent prices. [46]
- Price history shows a sharp adjustment in October 2025 , followed by a drift towards the S$0.45–0.47 band in November–December, likely reflecting restructuring and portfolio realignment. [47]
Today’s activity indicates continued interest from yield hunters , though the name remains sensitive to credit‑cycle risks and valuation changes in its investment portfolio.
6. Seatrium (5E2): Offshore and renewables story stays in play
- Last traded: S$2.07 ( –0.96% )
- Trading value: ~S$13.2 million; volume ~6.35 million shares [48]
Offshore and marine engineering group Seatrium (the merged entity of Sembcorp Marine and Keppel O&M) continues to be a key active name:
- As of Q3 2025, Seatrium reported a net order book of about S$16.6 billion , with deliveries extending to 2031 , driven by offshore wind, FPSO and other energy projects. [49]
- The company has secured at least S$170 million in new contract wins ahead of Q3 results and is pursuing additional large-ticket opportunities in renewables. [50]
Analysts have described Seatrium’s Q3 order wins as “underwhelming” versus lofty expectations, but many remain constructive on the medium-term pipeline , which helps explain why the stock still sees meaningful daily turnover even on down days. [51]
What today’s most active SGX stocks say about market sentiment
Taken together, the Top Volume and Top Value lists paint a nuanced picture of 10 December 2025 trading on the Singapore stock market :
- Speculators are back in penny stocks
- Micro‑caps such as Salt Investments, Trendlines, Pacific Radiance and AJJ Medtech dominate volume, reflecting risk‑on pockets among retail traders.
- Many of these names have weak or negative fundamentals and recent dilutive capital raisings , so liquidity can mask high downside risk. [52]
- Marine & offshore is a clear sector theme
- Strong earnings from Marco Polo Marine and a robust order book at Seatrium have revived interest in offshore‑related counters, pulling secondary names like Pacific Radiance along for the ride. [53]
- Banks remain core positioning tools
- DBS, UOB and OCBC are still major turnover drivers as investors refine their views on 2026 margins , credit costs and dividend sustainability ahead of Fed easing. [54]
- Yield and resilience drive REIT interest
- CICT, CapitaLand Ascendas REIT, Lendlease REIT and Yangzijiang Financial show that investors are still drawn to income vehicles – but are voting leverage, asset quality and the path of interest rates before committing fresh capital. [55]
Analyst and market outlook: Key themes to watch
Looking beyond today’s tape, several themes are shaping forecasts and market commentary around the most active Singapore stocks:
- Rate‑cut environment:
A widely expected Fed cut on 10 December should, over time, compress bank NIMs but ease pressure on leveraged REITs , setting up a rotation from pure rate‑play banks into selected yield names if global growth holds up. [56] - Stock-specific reratings:
- Marco Polo Marine is in the sweet spot for earnings upgrades and potential multiple expansion if its high margins prove sustainable and offshore wind execution goes well. [57]
- Lendlease REIT could see gradual rerating as it digests its private placement and integrates new assets, provided occupancy stays firm and gearing remains manageable. [58]
- Yangzijiang Financial offers an attractive headline yield but is sensitive to credit and asset-valuation cycles , limiting upside if risk appetite sours. [59]
- Risk flags in micro-capsules:
- Salt Investments and Trendlines both highlight classic micro‑cap risks: massive share issuance, thin profitability, and reliance on capital markets . Analysts have flagged dilution and small market‑cap size as major watchpoints. [60]
- For traders, these counters can deliver sharp intraday moves , but long‑term investors typically demand much higher risk premiums or clear visibility on turnaround plans.
Practical takeaways for investors
- Separate liquidity from quality
A spot on the “most active” list doesn’t automatically make a stock investible. Many of today’s top‑volume names are there because of tiny share prices and speculative flows , not improving fundamentals. - Focus on catalysts
Names like Marco Polo Marine, Seatrium, DBS, UOB, Genting Singapore and the major REITs all have identifiable catalysts – earnings momentum, order books, policy moves or capital-management actions – that can underpin medium-term theses. - Watch the Fed and local growth data
The outcome of the 10 December Fed meeting , as well as incoming data on US growth and inflation, will heavily influence bank margins, REIT valuations and overall risk appetite on SGX in the weeks ahead. - Diversify across themes
Instead of chasing a single hot name, consider spreading exposure across financials, high‑quality REITs, and selected industrial or offshore plays , while treating micro‑caps as tactical positions only , if at all.
References
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