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Asia

Singapore Shares Surge on US-Iran Deal; VibroPower Surges 25%

Singapore shares surged on Monday, tracking regional gain as investors' sentiment was boosted by the US and Iran's deal to reopen the Strait of Hormuz.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,061.05 and 5,095.12 throughout the day. It ended the session at 5,077.29, up 51.49 points or 1% compared to Friday's close.In economic news, Singapore's total employment increased by 9,400 in the first quarter, extending its growth streak to 18 consecutive quarters, according to a Ministry of Manpower report.On the corporate front, shares of VibroPower (SGX:BJD) surged over 25% at the close as it granted an option to purchase its Tuas Avenue 16 industrial property to Ecorecycling for SG$3.9 million.Global Testing (SGX:AYN) surged nearly 8% as it completed all regulatory requirements for its capital reduction exercise, leading the way for cash distribution to entitled shareholders.Meanwhile, shares of Annica Holdings (SGX:JFQ) closed nearly 3% higher as it secured a commercial solar-hydrogen project in Sarawak, Malaysia.

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Singapore's Labor Market Stays Resilient in Q1 Amid Global Headwinds
US Markets

Singapore's Labor Market Stays Resilient in Q1 Amid Global Headwinds

Singapore's labor market continued to expand in the first quarter, with employment growth accelerating and unemployment remaining low despite heightened global economic uncertainty.Total employment increased by 9,400 in the first quarter, marking the 18th consecutive quarter of growth since the end of 2021, according to a Labour Market Report released by the Ministry of Manpower on Monday.The increase was driven by stronger resident employment growth, which rose to 5,400 in the quarter from 3,100 in the previous three months.Resident employment gains were led by the administrative and support services as well as the transportation and storage sectors.Singapore's overall unemployment rate stood at 2.0% in March, unchanged from the previous quarter. The unemployment rate for residents was 2.9%, while the rate for citizens was 3.1%.Labor demand remained firm, with 73,300 job vacancies in March. The number of vacancies exceeded the number of unemployed persons by a ratio of 1.46."Looking ahead, labor market conditions are expected to remain resilient, although firms may adopt a more cautious approach in hiring and wage increases amid heightened global economic uncertainty and geopolitical tensions," the ministry said.The ministry said labor demand could moderate if external conditions weaken further and elevated global input costs persist.It added that the government will continue supporting employers and workers through skills upgrading, workforce transformation, and job placement initiatives.The cautious outlook echoes recent comments from Prime Minister Lawrence Wong, who warned that the full economic impact of the conflict in the Middle East has yet to be felt."There are downside risks, and we do expect more pressures to come on both growth and inflation in the second half of the year," Wong said, according to Bloomberg News.Reflecting the growing uncertainty, economists surveyed by Bloomberg now expect Singapore's economy to expand 3.3% in 2026, down from an earlier forecast of 3.5%. The economy grew 5% in 2025.The city-state's outlook has become increasingly uncertain as the conflict in the Middle East and higher energy costs threaten global growth.In the longer term, the labor market could also face challenges despite continued investment inflows.While Singapore attracted higher fixed-asset investment commitments last year, the projects are expected to create 15,700 jobs over the next five years, the lowest projected level since at least 2006, according to Economic Development Board data.The commitments are also expected to generate about SG$18 billion in annual value-added once realized, the weakest level since 2021.

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International

Asia Week Ahead: Central Bank Decisions; Inflation; and Trade

The week ahead in Asia will be packed with a number of central bank decisions and macroeconomic data, with investors set to track the impact of the Middle East conflict on regional economies.The economic calendar starts quietly on Monday with services activity data from Japan, whole inflation figures from India and New Zealand's services PMI.Activity picks up Tuesday as the Reserve Bank of Australia and Bank of Japan announce policy decisions, while China releases a batch of closely watched activity indicators.Wednesday shifts the focus to trade, with Japan and Singapore due to report May figures.Thursday brings a cluster of central bank decisions from Taiwan, Indonesia and the Philippines, with New Zealand's first-quarter GDP and Thailand's trade data also on deck.Friday rounds out the week with inflation data from Japan and Malaysia, with New Zealand reporting trade numbers.Here's what to watch in the week ahead.MONDAY, June 14The week was off to a relatively light start with a handful of releases from India, New Zealand, and Japan.Japan released its tertiary industry activity index for April, a measure of change in the total value of services provided and consumed by the country's service sector.The index rose a seasonally adjusted 1.3% month on month, reversing from a 0.6% decline in the prior month and recording its first increase in three months.It also beat the Trading Economics forecast of a 0.5% increase.In New Zealand, the BusinessNZ Performance of Services Index fell to 47.5 in May from a downwardly revised 48.7 in April, marking a fourth straight month of contraction in the services sector. Trading Economics said the decline came as the Iran war weighed on business activity.India's annual wholesale price index (WPI)-based inflation rate rose to 9.68% year over year in May. The reading was higher than the consensus forecast of 9.10% tracked by Investing.com and compared with an 8.26% pace recorded in the prior month.Later Monday, India reports unemployment stats for May.TUESDAY, June 16Macro activity picks up Tuesday with central bank decisions scheduled in Australia and Japan, and a slew of monthly data from China.The Reserve Bank of Australia is expected to hold the official cash rate steady at 4.35%, according to a Trading Economics consensus.Economists at National Australia Bank said the latest decision would mark the end of the tightening cycle, with the next move likely down and now expected in the second quarter of 2027.In contrast, the Bank of Japan is forecasted to raise interest rates by 25 basis points to 1%, according to a Trading Economics consensus estimate.Bloomberg reported earlier June that the central bank was considering raising the policy rate amid high uncertainties over the Middle East conflict. Officials were expected to sift through as much data as possible until the last minute before making a final decision, though the decision to raise rates was unlikely to be unanimous, according to the report.China's industrial production and retail sales stats will also be in the news, alongside monthly unemployment and housing price data.Markets will review the figures to gauge how well the country's economy is faring amid the Middle East conflict. According to the Wall Street Journal, the data is likely to indicate overall improvement and economic resilience despite the macro headwinds.Hong Kong will report unemployment data the same day, while trade stats will be in focus in India and South Korea.In New Zealand, markets will await food inflation data which is expected to show "modest increases," according to CommBank.WEDNESDAY, June 17Focus shifts Wednesday to trade data from Singapore and Japan.Japan is expected to record a trade deficit of 564.6 billion yen in May, reversing from a 301.9 billion yen surplus a month earlier, according to a Trading Economics consensus.Wednesday will also bring the Reuters Tankan Index for June, a key gauge of Japanese business confidence, along with monthly machinery orders data.Meanwhile, Singapore's trade surplus is expected to narrow to $7 billion in May from $13.07 billion in April, according to Trading Economics. The city-state is also due to release monthly non-oil export data.A forward-looking report from Westpac capturing consumer confidence in New Zealand is also scheduled for Wednesday.THURSDAY, June 18Central banks across Taiwan, Indonesia and The Philippines will meet for interest rate decisions Thursday.Bank Indonesia will be in focus after it unexpectedly raised interest rates by 25 basis points earlier this month to support the rupiah.While some economists expect the central bank to deliver another 25 basis point hike, ING expects Bank Indonesia to hold rates steady and instead prioritize alternative measures to attract foreign capital inflows and stabilize the currency.The Philippines' central bank, Bangko Sentral ng Pilipinas, is widely expected to raise its benchmark rate by 25 basis points to 4.75% amid persistent inflationary pressure, according to a Trading Economics consensus.Meanwhile, Taiwan's central bank is expected to hold rates steady at 2%. ING said it will be monitoring the Central Bank of the Republic of China's press conference for clues on a possible rate hike in the third quarter.Elsewhere, New Zealand will report its first quarter gross domestic product growth rate. CommBank said it expects quarterly growth to reach 0.8%, shy of the Reserve Bank of New Zealand's 1% forecast.While the economy started 2026 with a decent moment, there will be "pockets of weakness" highlighting that economic recovery was a "bit patchy," CommBank said in a preview.Lastly, Thursday will feature Thailand's trade figures for May.FRIDAY, June 19The week rounds off with closely watched inflation data from Japan.According to ING, May's consumer prices could record a rise of 1.6% year on year, accelerating marginally from 1.4% in April. The subdued increase would reflect government measures, though price pressures are likely to broaden, ING said.Malaysia's headline inflation, also due the same day, is similarly expected to show a marginal rise to 2% year-on-year in May from 1.9% in April due to government fuel subsidies and stable food prices, the Wall Street Journal reported, citing DBS.Malaysia will additionally report monthly trade figures on Friday, while Macao will release monthly inflation data the same day.Trade figures from New Zealand will also feature Friday. According to a Trading Economics consensus, New Zealand's May trade surplus could narrow to NZ$875 million from NZ$1.92 billion a month earlier.South Korea's producer price inflation will also be among the highlights of the day.

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Asia

Singapore Exchange to Launch OTC Gold-Clearing System in 2026

The Singapore Exchange plans to establish an over-the-counter (OTC) gold clearing system for Loco Singapore this year, the Monetary Authority of Singapore said Monday.Major banks such as JPMorgan Chase & Co., DBS Group Holdings (SGX:D05), Oversea-Chinese Banking Corporation (SGX:O39), United Overseas Bank (SGX:U11), ICBC Standard Bank, and Deutsche Bank AG will act as clearing members, with plans for inter-bank trading expected to be operational from 2027, the release said.These banks will work with the Singapore Exchange to enhance the Loco Singapore gold market, improve price discovery, and build trading activities, it said.The Monetary Authority of Singapore will introduce central bank gold vaulting services by October.Shares of Oversea-Chinese Banking Corporation added over 1%, while those of United Overseas Bank increased about 1% at market close.

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International

Singapore's Employment Extends Growth Streak in Q1

Singapore's total employment increased by 9,400 in the first quarter, extending its growth streak to 18 consecutive quarters, according to a Ministry of Manpower report released Monday.The increase was driven by resident employment, which rose by 5,400 in the quarter, up from 3,100 in the previous quarter.The overall unemployment rate held steady at 2.0% in March, while the rates for residents and citizens were 2.9% and 3.1%, respectively.

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Asia

Singapore Home Sales Drop in May

Singapore's new private home sales dropped in May, with 447 units sold, according to figures released by the Urban Redevelopment Authority on Monday.The figure was down sharply from the 1,548 new private homes sold in April, when sales reached a six-month high following the launch of several major residential projects.Monthly sales of new private homes in Singapore are often influenced by the timing and scale of new project launches.The Urban Redevelopment Authority's data excludes executive condominiums.

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Asia

Market Chatter: Singapore Saves SG$300 Million by Avoiding Underground Infra Project Conflicts

Singapore has saved around SG$300 million in construction costs since 2024 by avoiding conflicts in underground utility projects, the Straits Times reported Monday.An enhanced workflow has been implemented to identify and resolve conflicts between underground utility projects early, the city-state's national development minister, Chee Hong Tat, reportedly said during an international forum for city leaders.Chee said delays and cost overruns happen when potential clashes are not identified before work begins, as underground infrastructure is managed by different agencies, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Singapore Condos Resale Period Up as Buyers Wait for Right Offer

Singapore's real estate condominium market is now tilting more towards buyers who are taking their time to make a purchase, according to a report by the Straits Times on Monday.Active resale listings in the first quarter of 2026 had a median age of 81 days, compared with 45 days in 2022, the report said, citing data from PropertyGuru and 99.co.The slowdown in property sales is consistent across all regions in the city-state, with both 99.co and PropertyGuru reporting increased median listing age, the news outlet noted.While resale condo sales have fallen for two consecutive quarters, asking prices are holding firm, the report added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Singapore Court Grants Stay on Six-Month Jail Sentence on Byju Founder

The High Court of Singapore has granted a stay on the six-month jail sentence imposed on Byju founder, Byju Raveendran for contempt of court, according to a report by Bloomberg News on Friday.The stay comes as a momentary reprieve for the founder as lawyers file an appeal against the underlying contempt finding, the report added.Earlier, the court had found Raveendran to be disobeying court orders linked to his assets back to 2024, and was also ordered to pay costs of around SG$90,000, the report added.The Byju founder is being pursued by a subsidiary of Qatar Investment Authority in Singapore for a funding round, the report noted.Additionally, lenders from the US are looking to recover losses from a loan of $1.2 billion, the report further added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Singapore Regulator to Streamline 'Single Family Office' Framework

The Monetary Authority of Singapore has revised its "single family office" (SFOs) framework to streamline the process for SFOs to establish operations in Singapore, according to a MAS release.An SFO in Singapore is a privately held corporate entity set up by one "ultra-high-net-worth" family to manage assets, investments, and wealth of a single family.The registration protocols have been simplified, effective June 15, with offices required to notify MAS of their operations through a MAS-licensed bank.Annual reporting has been made more straightforward for SFOs, with information on total assets under management and the name of its bank.

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Asia

Singapore Companies Among the Most Cautious on Cross-Border Expansion

Interprenuers or international entrepreneurs based in Singapore have ranked among the most globally cautious about international expansion, with only 29% finding global expansion easy, according to Kreston Global's 2026 Interpreneur Report.The survey polled around 100 business leaders from the city-state and reflects a broader cautious approach among Singapore firms when it comes to branching out globally amid tariff volatility and geopolitical instability.

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Asia

Singapore's IMDA, Microsoft to Collaborate on AI Safety and Security

Singapore's Infocomm Media Development Authority and Microsoft signed a memorandum of understanding to strengthen their collaboration on artificial intelligence safety and security, according to a release by the city-state's regulator on Sunday.Under the agreement, the two parties will conduct joint research into agentic AI and develop evaluation methods, including multilingual AI safety and best practices.A key constituent of this agreement is the development of a white paper, in partnership with the Singapore AI Safety Institute and other government agencies.

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Asia

US, Iran Reach Peace Agreement, Formal Signing Due Friday

U.S. and Iranian officials have confirmed a peace agreement to end the war and reopen the Strait of Hormuz, with a formal pact expected to be signed in Switzerland on Friday.U.S. President Donald Trump said in a post on Truth Social that the agreement with Iran was "complete" and authorized the immediate lifting of the U.S. naval blockade.Separately, Iran's Deputy Foreign Minister Kazem Gharibabadi confirmed that an agreement had been reached to end the conflict, according to multiple media reports.Pakistan Prime Minister Shehbaz Sharif, who mediated the negotiations, said in a post on X that the peace accord would be signed on Friday, June 19.Sharif added that both sides had agreed to an immediate and permanent cessation of military operations across all fronts, including in Lebanon.

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Asia

Singapore Central Bank Rolls Out New Framework for Single-Family Offices

The Monetary Authority of Singapore (MAS) will implement a revised framework for single-family offices (SFOs) from Monday, introducing a streamlined process for family-owned wealth funds to establish operations in the city-state.Under the new structure-agnostic framework, qualifying SFOs will be eligible for a class exemption from licensing, allowing them to begin operations by notifying MAS and maintaining an account with a MAS-licensed bank, the central bank said in a Friday news release.Qualifying SFOs will also be required to submit an annual return detailing their total assets under management and the name of their banking institution.Existing SFOs will have a one-year transition period to comply with the revised requirements.

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Japan

Singapore Shares Surge as Trump Cancels Strikes on Iran; Aspen (Group) Up 7%

Singapore shares surged on Friday, tracking regional gains, with investor sentiment buoyed by the US president, Donald Trump's decision to end strikes on Iran.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,995.83 and 5,045.28 throughout the day. It ended the session at 5,025.80, up 37.70 points or 0.8% compared to Thursday's close.On the corporate front, shares of Aspen (Group) (SGX:1F3) surged nearly 7% at the close as its associated company, Rivnis Ventures, signed a definitive agreement with Malaysia's Railway Assets Corporation (RAC), for a mixed development project in Penang.Serial Achieva (SGX:XHV) closed over 5% higher as it secured a $14.1 million AI infrastructure order following a successful first phase delivery.Meanwhile, shares of Aspial Lifestyle (SGX:5UF) were up nearly 3% at the close as it concluded its preferential offering, raising a total of SG$84.8 million in gross proceeds.

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Asia

Singapore Launches Synthetic Biology Lab for Sustainable Products

Singapore's Agency for Science, Technology and Research (A*STAR) and the National University of Singapore (NUS) launched a synthetic biology research facility to accelerate the commercialization of sustainable bio-based products, according to a ministry release on Thursday.Named the A*STAR SIFBI-NUS Synthetic Biology Joint Lab, the facility will focus on artificial intelligence-guided enzyme and pathway engineering, industrially deployable microbial platforms, and novel compounds for ingredient and functional applications.In the longer term, the platform aims to drive technology licensing, startup formation and industry partnerships, supporting the growth of Singapore's bio-based innovation ecosystem.

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Asia

Market Chatter: Singapore's Oil Product Stocks Plunge to 13-Year Low as Middle East Conflict Persists

Oil product stocks in Singapore plunged to a 13-year low, owing to the persistent crisis in the Middle East that pushed residual fuel inventories sharply lower, Reuters reported Thursday, citing Enterprise Singapore data.Combined onshore oil product inventories declined to 34.41 million barrels in the week ended June 10, marking their lowest level since July 2013, the report said.Residual fuel stocks also fell to 14.84 million barrels in the same week, representing their lowest level in about eight years, according to the report.Heavy distillate imports declined 36.3% from the previous week, with no additional supplies arriving from the Middle East. Middle distillate inventories, including diesel and jet fuel, also fell to around 6.9 million barrels in the week ended June 10 from 7.3 million barrels a week earlier, despite higher exports, the report added.Net diesel exports surged by about five times, while imports decreased by 42%, with supplies mainly coming from India, South Korea, and Indonesia, Reuters said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Thailand's Minor Food Weighs Singapore IPO Instead of Hong Kong

Thailand's Minor International is reportedly weighing a public listing for its restaurant unit, Minor Food Group, in Singapore rather than Hong Kong amid strong interest from investors in the city-state.Bloomberg News reported Thursday, citing sources, that the group, which operates brands including Burger King, Dairy Queen, and The Pizza Company, could raise more than $400 million. Financial advisers are assisting, though no final decision has been made, according to the report.Minor International did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Singapore Shares Rally Despite Ongoing US-Iran Conflict; Clearbridge Health Zooms 100%

Singapore shares showcased resilience, ending Thursday in green, despite mixed performances across regional indices, in line with the flaring up of tensions across the Middle East following new US attacks on Iran.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,929.94 and 4,997.56 throughout the day. It ended the session at 4,988.10, up 29.25 points or 0.6% compared to Wednesday's close.On the corporate front, shares of Clearbridge Health (SGX:1H3) soared over 100% at the close as it signed subscription agreements to place around 2.15 billion new shares at SG$0.0018 per share, raising about SG$3.9 million.Q & M Dental (SGX:QC7) closed nearly 3% higher as it completed the acquisition of Ann Arbor Dental Surgery and issued 657,819 shares at SG$0.55 per share to vendors as part of the consideration.Meanwhile, shares of Ever Glory United (SGX:ZKX) were down over 1% as it allotted and issued 375,000 tranche C shares to vendors of Fire-Guard Engineering following the fulfilment of the 2025 profit milestones under the acquisition agreement.

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Asia

ST Telemedia GDC Expands Jakarta Data Center Campus with Four New Facilities

ST Telemedia Global Data Centres has expanded its Jakarta data center campus with the launch of STT Jakarta 2, the topping out of STT Jakarta 3, and the groundbreaking of STT Jakarta 5 and STT Jakarta 6, according to a Wednesday news release.The projects form part of the company's strategy to have a pipeline of more than 360 megawatts of AI-ready IT capacity in Indonesia.STT Jakarta 2 has already commenced operations with 24MW of IT load capacity, while STT Jakarta 3 will further expand the campus once finished.Meanwhile, STT Jakarta 5 and STT Jakarta 6 represent the next phase of development, with each facility planned to support 40MW of IT load.The campus will leverage NVIDIA's Vera Rubin and Vera Rubin Ultra platforms to conduct high-density AI workloads.Indonesia's digital economy is forecasted to reach $130 billion this year, with AI serving as a key driver, the statement said.

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