market.news daily briefing
Wednesday, 23 September 2026
📉 Singapore ETF Slips 0.9% as Tech Drags; Grab Gains on Atome Fintech Expansion
Singapore equities outperformed Asia peers Wednesday, with iShares MSCI Singapore down just 0.89% against Korea's 3.85% and Japan's 1.75% declines. Tech/Internet was the only tracked sector, off 1.36%, as Sea Limited (SE) fell 0.82%. The bright spot: Grab advanced 0.95% to $3.20 after its deal to expand ASEAN lending by acquiring Atome Financial, deepening its super-app financial services stack across Southeast Asia. Wall Street opened lower ahead of an anticipated US-China summit, creating a cautious mood for export-oriented SG names.
Grab's move to acquire Atome Financial broadens its buy-now-pay-later and embedded lending capabilities across ASEAN. The deal positions Grab's financial services arm (GrabFin) as a direct challenger to traditional banks in Vietnam, Indonesia and Thailand, where credit penetration remains low.
Read at FinanceAsia ↗A*Star's new expanded lab infrastructure aims to help Singapore deep-tech startups — particularly in biotech, advanced manufacturing and AI — move from R&D to commercial scale faster. The initiative aligns with MAS and EDB's push to deepen Singapore's role as ASEAN's innovation capital alongside traditional financial hub functions.
Read at Business Times ↗Markets globally softened as rising oil prices and bond yields weighed on valuations ahead of a potential Xi-Trump meeting. For Singapore, the summit outcome has direct implications for trade flows through Jurong Port and Changi, and for SG-listed companies with China supply chain exposure.
Read at Business Times ↗Gainers (1)
Losers (3)
Grab's Atome acquisition is the structural trade — watch whether MAS green-lights the deal quickly (SG regulators have been fintech-friendly). S-REITs held well relative to broader Asia; DBS and OCBC will reprice on Thursday based on overnight US rate moves. STI remains the defensive Asia play vs KOSPI/MSCI HK.
Grab fintech deal regulatory timeline
MAS approval process for the Atome acquisition will define the timeline for GrabFin's ASEAN lending scale-up — any fast-track signal is bullish for GRAB
DBS and OCBC earnings guidance updates
Singapore bank stocks will react to overnight US rate moves — a bond yield spike would tighten NIM outlook and pressure SG financial stocks at Thursday open
US-China summit outcome for SG trade flows
Any trade framework agreement would be net positive for Singapore's role as the ASEAN intermediary — watch Jurong Port operator and logistics names
