Singapore shares rallied this week, with the STI up 0.15% weekly.

BYD HK SDR 10to1 rose 19% this week, SGX rose 14%, Shangri-La HKD rose 5.4%; Delta TH SDR 1to1 fell 11.5%. CP All NVDR fell 8%.

Market News

BYD Shares Surge 19% as Investors Await Autopilot Tech Update

Shares of BYD, a leading Chinese electric vehicle (EV) manufacturer, saw a 19% increase in its SDR stock over the past five sessions. This surge comes as investor excitement grows ahead of an eagerly awaited update on the company’s smart driving technology.

The recent rise in stock value is driven by expectations that BYD will unveil advancements in its autopilot system and introduce enhanced intelligent features in its more affordable vehicles at a special event scheduled for Monday.

SGX Stock Surges 10%, Hitting a Record High

SGX surged 10% on Friday to S$13.99, hitting a record high. The stock jumped over 2% on Thursday after its earnings release.

SGX reported on Thursday its highest ever half-year profit since going public, driven by strong performance across all its business segments, particularly cash equities and equity derivatives.

Alibaba Said Its AI Outperformed DeepSeek

DeepSeek shook the market last week after making claims its AI model cost a fraction of what leading players in the industry spent on training.

One of the few tech stocks that were not adversely affected by the DeepSeek announcement is Alibaba Group Holding (NYSE:BABA), which is leveraging AI to boost its cloud services business. The company's shares are up more than 16% this year and have risen nearly 10% since DeepSeek's claims.

The Chinese multinational technology company last week also released its AI model, Qwen 2.5 artificial intelligence model, claiming it outperformed DeepSeek-V3, OpenAI's GPT-4o and Meta Platform's Llama-3.1-405B, according to a report by Reuters.

The Week Ahead

DBS will annouce earnings next Monday.