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383 stories mentioning Straits Times IndexUpdated 4h ago

Singapore's benchmark surged Monday, tracking regional gains after a US-Iran deal to reopen the Strait of Hormuz lifted investor sentiment.

International

Economists Trim Singapore 2026 Growth Forecast to 3.5%, MAS Survey Shows

Economists have slightly lowered their median forecast for Singapore's 2026 GDP growth to 3.5% from the 3.6% projected in March, according to the June Survey of Professional Forecasters by the Monetary Authority of Singapore.While the economy expanded a stronger-than-expected 6% year over year in the first quarter, forecasters expect growth to moderate to 4.3% in the second quarter.Meanwhile, inflation projections were upgraded, with headline CPI inflation for the full year now estimated at 2.3% from the previous 1.5% forecast, while the outlook for MAS core inflation was also lifted to 2% from 1.5%.They cited the escalating geopolitical tensions in the Middle East and the potential bursting of the artificial intelligence bubble or a slowdown in capital spending as the main downside risks to the outlook.

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Asia

Singapore Shares Stay in Green as US Federal Reserve Policy Decision Nears

Singapore shares remained in the green zone on Wednesday, tracking broader regional gains as investors awaited the US Federal Reserve's upcoming policy decision under chairman Kevin Warsh.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,120.18 and 5,196.96 throughout the day. It ended the session at 5,176.46, up 59.60 points or 1.2% compared to Tuesday's close.In economic news, Singapore's non-oil domestic exports (NODX) jumped 38.4% year over year in May, quickening from the 24.4% increase in April, according to government data.Meanwhile, Singapore's merchandise trade surplus contracted to SG$5.57 billion in May from SG$13.1 billion in the prior month, according to data from Enterprise Singapore.On the corporate front, shares of Keppel (SGX:BN4) rose over 1% at the close as it signed an indefeasible right of use agreement with an unnamed global technology company for the fourth of its five available fiber pairs on the Bifrost subsea cable system.Accrelist (SGX:QZG) closed nearly 2% lower as it signed a non-binding term sheet to acquire a 51% stake in a Chinese medical aesthetics business for 10.2 million yuan.

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Singapore's Non-Oil Domestic Exports Rise in May on AI Demand
US Markets

Singapore's Non-Oil Domestic Exports Rise in May on AI Demand

Singapore's non-oil domestic exports, or NODX, increased in May, supported by demand related to artificial intelligence, according to data from Enterprise Singapore released Wednesday.The figure expanded 38.4% year over year in May, faster than the 24.4% rise in April, and surpassing a 30% growth forecast tracked by Investing.com.Electronics NODX surged 94.8% year over year in May, faster than the 66.7% rise in the previous month on high AI demand.Integrated circuit exports soared 80.9%, contributing SG$1.6 billion, while disk media products surged 227.8% to SG$1.1 billion, and personal computers jumped 140.9% to SG$600 million.Non-electronic NODX grew 17.7% in May, accelerating from 10.9% in April, led by a 102.6% rise in pharmaceutical exports, contributing SG$1 billion.Specialized machinery rose 66.9%, contributing SG$900 million, while non-monetary gold exports increased 83.2% to a SG$400 million contribution.By country, NODX to Taiwan surged 135.2% in May, up from 33.5% in April, led by a 137.8% surge in integrated circuits and a 140.9% rise in disk media products and specialized machinery.NODX to the U.S. jumped 80.9% on a rise in pharmaceuticals, disk meida products, and PCs, while exports to China expanded 31% on specialized machinery, non-monetary gold, and integrated circuits.Non-oil re-exports, or NORX, rose 33.6%, faster than the 29.6% growth in the previous month.Electronics non-oil re-exports grew 47.5% while non-electronics NORX expanded 14.4%, up from 9.1% in April.Singapore's merchandise trade surplus contracted to SG$5.57 billion in May from SG$13.1 billion in the prior month.The latest figure missed Trading Economics' forecast of SG$7 billion in surplus.Total merchandise exports increased 39.7% year over year, faster than the 33.0% growth in April, while total merchandise imports rose 43.6% year over year, compared with a 34.5% growth in the preceding month.

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Asia

Market Chatter: Singapore Sovereign Wealth Fund Nears Sale of $2 Billion of Private Credit Stakes

Singapore's sovereign wealth fund, GIC, is closing in on the disposal of up to $2 billion in private credit assets via the secondaries market, Bloomberg News reported Tuesday, citing people familiar with the matter.The fund has hired Evercore to advise on the sale as it looks to trim some of its maturing holdings, the report said.Last year, GIC launched a process to sell at least $1 billion in private equity fund stakes from managers that included Blackstone and Apollo Global Management, the report noted.Private credit fund stake disposals have become a key strategy in the secondaries market, with volumes reaching $20 billion in 2025, the report added, citing Evercore data.GIC did not immediately respond to a request for comment from.(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 Named Global Wealth Capital in Henley & Partners Survey

Singapore has secured the top spot globally on Henley & Partners' new Global Wealth Mobility Competitiveness Index, scoring 79.5 out of 100, according to the firm's Private Wealth Migration Report 2026 published on Tuesday.The index scores global hubs across 12 weighted dimensions to evaluate their long-term appeal to the world's affluent.Singapore's score is attributed to political stability, strong institutions, deep capital markets and sustained demand from internationally mobile wealth, Henley & Partners said.Meanwhile, several states such as Germany, Norway, the UK, South Korea and France were flagged as "Competitive Jurisdictions Under Pressure."

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International

Singapore's Trade Surplus Narrows to SG$5.57 Billion in May

Singapore's merchandise trade surplus contracted to SG$5.57 billion in May from SG$13.1 billion in the prior month, according to data from Enterprise Singapore released on Wednesday.The latest figure, however, beat Trading Economics' forecast of SG$7 billion in surplus.Total merchandise exports increased 39.7% year over year, faster than the 33.0% growth recorded in the previous month.Meanwhile, total merchandise imports rose 43.6% year over year, compared with a 34.5% growth in the preceding month.

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International

Singapore's Non-Oil Domestic Exports Surge 38.4% in May

Singapore's non-oil domestic exports (NODX) jumped 38.4% year over year in May, quickening from the 24.4% increase in April, according to government data on Wednesday.The latest pace of growth topped the consensus forecast for a 30% expansion, tracked by Investing.com.Meanwhile, the non-oil re-exports (NORX) rose 33.6%, extending the 29.6% growth in the previous month, primarily driven by the 47.5% increase in electronics NORX during the month in review.

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Asia

Singapore Shares Remain Upbeat on US-Iran Peace Deal; Global Invacom Crashes 17%

Singapore shares remained upbeat on Tuesday, tracking broader regional gains as investors' sentiment was uplifted 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 5,075.34 and 5,122.09 throughout the day. It ended the session at 5,116.86, up 39.57 points or 0.8% compared to Monday's close.On the corporate front, shares of Global Invacom (SGX:QS9) plunged nearly 17% with the company targeting to raise up to SG$4.9 million for satellite technology expansion via a renounceable partially-underwritten rights issue of up to 140 million shares at SG$0.035 per share.IX Biopharma (SGX:42C) closed over 8% lower as it unveiled plans to relocate its manufacturing equipment from its facility in Australia to a 503B-licensed plant in Nevada, U.S.Meanwhile, shares of Jardine Matheson (SGX:J36) closed nearly 4% lower as it unveiled a new $500 million share buyback program, slated for conclusion by the end of 2027.

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Asia

Market Chatter: Tiger Beer Expands Singapore Product Pipeline

Tiger Beer is slated to put out several new products in the next one to two years in Singapore, according to a report by The Business Times on Tuesday.The move is part of the company's strategy to double down on its Singapore identity, according to SJ Heng, a director at Heineken Asia-Pacific, during an interview with The Business Times.Asia Pacific Breweries Singapore, owned by Heineken, is restructuring its operations, with some brewing activities expected to shift to Malaysia and Vietnam by 2027, 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 to Launch Gold Clearing System by Year-End

Singapore has outlined plans to launch a gold clearing system by the end of the year, in partnership with JPMorgan Chase, Deutsche Bank, DBS (SGX:D05), Oversea-Chinese Banking Corp. or OCBC (SGX:O39), UOB (SGX:U11)and ICBC Standard Bank, according to a report by Bloomberg on Monday.Speaking at a conference, the city-state's Deputy Prime Minister and MAS chairman, Gan Kim Yong said the system will connect regional gold demand with global liquidity and support market activity during trading hours.Bloomberg also reported that MAS plans to introduce central bank gold vaulting services by October.(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: Foundation Healthcare Eyes IPO Prospectus Filing Soon

SeaTown-backed Foundation Healthcare targets to file its initial public offering prospectus in Singapore soon, Bloomberg reported Monday, citing people familiar with the matter.The healthcare company is looking to raise over SG$500 million, taking its valuation to beyond $1 billion, the report said.Temasek-linked SeaTown has invested around SG$150 million in the Singaporean firm since 2023, the report said.Details of the IPO have not been finalized, Bloomberg reported, citing the people.Foundation Healthcare did not immediately reply to a comment request from.(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: SoftBank-Backed Patsnap Files for Dual IPO in Hong Kong, Singapore

Intellectual-property data provider Patsnap, backed by SoftBank (TYO:9434) and Tencent (HKG:0700), has confidentially filed for a dual initial public offering in Hong Kong and Singapore, Bloomberg News reported Monday, citing people familiar with the matter.The company has submitted a draft IPO registration seeking to raise $300 million to $400 million at a valuation of more than $2 billion, the people said. Deliberations are ongoing and details such as listing size and timing remain under discussion, they added.Headquartered in Singapore, Patsnap provides IP data and analytics tools to more than 15,000 companies.Patsnap did not respond to a request for comment from.(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.)

Hang Seng^STIHKG:0700TYO:9434
International

Singapore's Marine Fuel Sales Down 6.8% in May

Singapore's bunker or marine fuel sales fell 6.8% year over year in May to 4.5 million tonnes, according to data released by the Maritime and Port Authority of Singapore on Monday.Similarly, cargo throughout fell 4.8% year over year to 50.3 million tonnes, while container throughput was up 3% year over year to 3.9 million twenty-foot equivalent units.The number of vessel arrivals during the month rose 3.4% on year to 11,729, data showed.

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International

IMF Sees Global Economy Holding Up Amid Middle East Conflict

The global economy has remained resilient despite the Middle East conflict, supported by strong growth in the U.S. and China, though energy importers remain vulnerable, according to a Monday blog by IMF Managing Director Kristalina Georgieva.Oil prices remain about 30% above pre-war levels, contributing to higher inflation in many economies.However, inflation expectations have generally remained anchored, while financial markets have held up and global financial conditions remain accommodative, Georgieva said.She said investment in artificial intelligence and data centers continues to support growth, particularly in the U.S. and parts of Asia, helping offset the impact of higher energy costs.The IMF warned that countries heavily reliant on energy imports, especially in Africa and parts of Asia, face mounting pressure from higher fuel, food, and financing costs.The fund said policymakers should maintain price stability and fiscal discipline while remaining prepared to respond to prolonged disruptions.

ASX 200^BSE^DSE^HNX^HOSEHang Seng^JKSEFTSE Bursa Malaysia KLCI^KOSDAQKOSPINikkei 225Nifty 50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted^YSX
International

Singapore's Retrenchment Level Climbs in Q1

Singapore's level of retrenchment increased to 3,830 or 1.6 per 1,000 employees in the first quarter ended March 31, from 3,690 or 1.5 per 1,000 employees recorded in the preceding quarter, according to data released by the Ministry of Manpower on Monday.The retrenchments touched their highest level in almost three years since the third quarter of 2023, when 4,110 workers were retrenched, according to Bloomberg estimates. These were driven largely by restructuring or reorganization by companies."The increase in retrenchments was mainly in external-oriented sectors such as manufacturing, financial services, and professional services," the ministry said in its statement.The data showed that the resident re-entry rate into employment within six months post-retrenchment improved for the second consecutive quarter to 60.7% in the January-March quarter from from 57.4% a quarter ago.

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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.

ASX 200^BSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225Nifty 50^NZ50^PSEIM^SETShanghai Composite^STI^SZSETaiwan Weighted
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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