Shares in Singapore Airlines (SIA) closed 7.4% lower at $7.04 on July 29 after reaching as low as $6.94 within the first hour of trading, a day after the airline operator posted nearly 59% lower net profit for 1QFY2026 ended June 30.
SIA shares opened 5.9% lower at $7.15 on July 29 after closing at $7.60 on July 28. SIA shares, which had rallied some 18% year to date to a 52-week high of $7.63 prior to the release of the quarterly results on July 28, have erased three weeks’ worth of gains.
SIA was the top loser among the Straits Times Index’s (STI) 30 constituents on July 29, with its decline outpacing SATS (-2.37%) and Seatrium (-1.65%).
The bellwether index ended the July 29 session 11.73 points lower, or 0.28% down, at 4,229.41 points, marking a second consecutive session of decline after a month-long tear.
Some constituent stocks have begun reporting their quarterly results, starting with REITs like Frasers Centrepoint Trust and Mapletree Industrial Trust.
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Investors are holding their breath for Aug 1, when Oversea-Chinese Banking Corporation (OCBC) will release its 2QFY2025 results a week ahead of peers DBS Group Holdings and United Overseas Bank (UOB). Combined, the three banks make up half of the STI by weight.
DBS and OCBC will release their quarterly results on Aug 7.
Read more about SIA's 1QFY2026 results:
