Top Stock Market Highlights of the Week: OCBC, First REIT, ST Engineering and Microsoft

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 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 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.

Singapore Technologies Engineering (SGX: S63) continues to expand its footprint in the Middle East.