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Straits Times Index

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380 stories mentioning Straits Times IndexUpdated 2d ago

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

Asia

Singapore Shares Surge as US, Iran Pause Attacks

Singapore shares surged on Monday, tracking broader regional gains as the US and Iran paused attacks on one another for a second consecutive day.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,549.18 and 5,620.68 throughout the day. It ended the session at 5,620.24, up 31.90 points or 0.6% compared to Friday's close.On the corporate front, shares of Raffles Medical (SGX:BSL) dropped over 4% at the close as its attributable profit to owners dropped 9.6% during the first half of the year to SG$29.0 million from SG$32.1 million a year earlier.iFast's (SGX:AIY) shares closed nearly 3% lower as its net profit after tax rose 35% in the second quarter of the year to SG$29.8 million from SG$22.1 million a year earlier.Far East Orchard's (SGX:O10) 239-bed purpose-built student accommodation development in Manchester, UK, has secured a Gateway 2 approval.

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Asia

Singapore, Australia Sign Industrial Base Resiliency Arrangement

Singapore and Australia signed an Industrial Base Resiliency Arrangement to deepen defense logistics and supply chain cooperation, strengthening bilateral defense ties.The agreement establishes a framework to support the resilience of the Singapore Armed Forces' and Australian Defence Force's industrial bases under a 2025 memorandum of understanding on enhanced defense cooperation.Singapore Defense Minister Chan Chun Sing and Australian Deputy Prime Minister and Defense Minister Richard Marles also discussed expanding access to defense facilities, increasing defense science and technology cooperation, and boosting military exchanges.

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International

Asia Week Ahead: U.S. Interest Rate Decision, Japan's Data Deluge, Industrial Output

Several key data releases are scheduled this week, with a decision by the U.S. Federal Reserve on Wednesday regarding interest rates taking center stage.The economic release calendar will gain momentum as the week progresses.Following business and consumer confidence survey reports, industrial and production data, and import and export prices, the bulk of economic disclosures will be released Friday.Japan is set to announce an interest rate decision at the end of the week. The week ahead also features the usual end-of-month data deluge from Japan that could provide insights into its economic health and potential monetary policy direction.MONDAY, July 27The Monetary Authority of Singapore (MAS) tightened monetary policy for a second straight review, slightly raising the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band.Meanwhile, the city-state's manufacturing output rose 7.2% year over year in June, slowing from a revised 17.8% increase in May and missing the 9% forecast of Trading Economics.Elsewhere, profits of China's major industrial firms grew 15.1% year over year in June, softer than the 21.1% gain in May.TUESDAY, July 28India is expected to see a year-over-year rise of 5.3% in industrial production in June, according to economists at ING. Manufacturing production is projected to increase 5%, based on a Trading Economics forecast.South Korea will release consumer confidence data.WEDNESDAY, JULY 29Markets will be on the lookout for the U.S. Fed's interest rate decision, with Investing.com and Westpac expecting the regulator to keep the policy unchanged for the fifth straight meeting.Elsewhere, Singapore is set to release domestic supply and manufactured products price index data, as well as export and import price figures.THURSDAY, July 30South Korea will release its business confidence report, while Japan publishes its consumer confidence data.Singapore will report its unemployment statistics for June, with Investing.com projecting a 2.1% rise.FRIDAY, JULY 31Japan is expected to keep its interest rate steady at 1%, according to predictions by ING and Investing.com.Japan's Usual End-of-Month Data DelugeInflation: Tokyo inflation figures will give further insights into Japan's inflation outlook. Tokyo's annual inflation rate is estimated to rise slightly to 1.8% in July, according to market consensus forecast data quoted by ING and Westpac Economics.Retail Performance: June retail sales are expected to increase 2.8% year over year, according to a Trading economics consensus.Activity: Industrial production is estimated to increase 1.8% compared with a 2.1% decline a year prior.Unemployment: Japan's unemployment rate will likely remain unchanged in the month at 2.5%, according to a Trading Economics consensus.Elsewhere, experts at ING forecast a slowdown of China's manufacturing PMI to 50.1 in July from 50.3 the previous month. Non-manufacturing PMI is expected to decelerate to 50 from 50.2 in the previous month.ANZ Research, however, projects manufacturing PMI to fall to 49.9 amid a correction in commodity prices, which dampened business sentiment and corporate profit outlook, the Wall Street Journal reported citing Senior Rates Strategist Jennifer Kusuma.Westpac Economics sees manufacturing activity as broadly stable, alongside a focus on domestic demand for services.Other key indicators due Friday are South Korea's industrial output and retail sales data for June, as well as Singapore's business confidence report for the second quarter.

ASX 200^BSEHang SengKOSPINikkei 225Nifty 50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
Asia

Futu Enables Korean Stock Trading in Hong Kong and Singapore

Futu said eligible investors in Hong Kong and Singapore can now trade South Korean stocks through its platform, expanding its cross-border investment offering, according to a Monday press release.The service operates under South Korea's Omnibus Account framework and is offered in partnership with local licensed brokerages, providing access to the Korean market within the country's regulatory framework.Futu said the platform also supports pre-market trading and offers real-time market data, AI-powered research tools and educational resources to help investors navigate the Korean market.The launch adds South Korean equities to Futu's global offering, which already includes stocks in the U.S., Hong Kong, and mainland China

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International

Singapore's Manufacturing Output Growth Slows in June

Singapore's manufacturing output increased 7.2% year over year in June, slowing from a revised 17.8% increase in May, according to data released by the Singapore Economic Development Board on Monday.The growth missed the 9% increase forecast tracked by Trading Economics.Manufacturing output fell 7.2% month over month, reversing the revised 6.9% increase in May. The month-over-month reading also missed the 0.4% increase forecast by Trading Economics.Electronics, precision engineering and transport engineering led output growth, while general manufacturing, biomedical manufacturing and chemicals contracted.

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Asia

Hanwha Aerospace Files for Singapore Listing of $500 Million Bonds

Hanwha Aerospace (KRX:012450) filed for the listing of $500 million 5% senior unsecured bonds due 2029 on the Singapore bourse, according to a filing with the Singapore Exchange on Monday.The bonds will be listed and quoted on the Bonds Market on or about July 28, the aerospace company said.

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Asia

Changi Airport Q2 Passenger Traffic Slips 1.5%; H1 Volume Up 0.4%

Singapore's Changi Airport recorded 17.2 million passenger movements in the second quarter, down 1.5% from a year earlier, according to a Friday company release.Aircraft movements in the second quarter also fell 1.3% year over year to 92,400.Top five markets during the second quarter were China, Indonesia, Australia, Malaysia and India, while Vietnam booked the strongest growth at 18.5%.In the first half of 2026, passenger traffic rose 0.4% from a year earlier.

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Asia

Singapore Shares Slip at Open As Mas Unexpectedly Tightens Policy

Singapore shares opened lower on Monday after the Monetary Authority of Singapore tightened its monetary policy for a second consecutive review.The benchmark Straits Times Index fell 0.21%, or 11.5 points, to 5,576.840 at the open.Defying market expectations for a hold, the central bank slightly raised the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band, as it expects external price pressures to keep inflation elevated despite contained domestic cost pressures.

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International

Singapore Tightens Monetary Policy Again as Inflation Risks Persist

Singapore tightened monetary policy for a second straight review, according to a press release on Monday.The Monetary Authority of Singapore (MAS) slightly raised the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band.The move follows April's tightening as the central bank expects external price pressures to keep inflation elevated despite contained domestic cost pressures.MAS expects firm economic growth through the second half of 2026, supported by AI-related investment, construction and the financial sector.Advance estimates showed gross domestic product grew 5.7% year over year and 1.1% quarter over quarter in the second quarter.MAS maintained its 1.5% to 2.5% inflation forecast for 2026 and warned renewed energy supply disruptions could keep price pressures elevated.

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Asia

Market Chatter: Temasek Weighs Defense Investments as European Military Spending Rises

Singaporean state investor, Temasek, is looking to increase investments in the defense sector as war in Ukraine prompts European governments to boost their military spending, according to a Reuters report, citing a senior Temasek Executive on Friday.Defense investment is part of Temasek's push into Europe, the Middle East and Africa, which account for around 12% of its portfolio, the report said.President of global investments, Nagi Hamiyeh, said the fund has historically avoided investment in the sector but is now making an exception due to considerations around deterrence and sovereignty, the report added.However, the state fund will mainly focus on dual-use technologies that serve both civilian and military customers, the report noted.(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 Close Higher Despite AI Concerns Linger

Singapore shares closed in the green on Friday despite broader regional losses as investors remained skeptical over potential returns from the spending on AI stocks.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,539.54 and 5,588.34 throughout the day. It ended the session at 5,588.34, up 6.58 points or 0.1% compared to Thursday's close.On the corporate front, shares of Centurion (SGX:OU8) were down nearly 2% at the close as its subsidiary, Westlite Juniper (Mandai), accepted an offer from JTC Corp. to extend the tenancy of premises at 1A Tuas Avenue 2 Dormitory in Singapore.ESR REIT (SGX:J91U) agreed to acquire a 100% stake in a freehold logistics property located in Melbourne, Australia, for AU$52.5 million.Meanwhile, HG Metal Manufacturing (SGX:BTG), along with unnamed joint venture partners, submitted a tender called by Singapore's National Environment Agency for the development and operation of a metal recovery facility.

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Asia

Singapore Says No Economic Justification for US Tariffs Amid Trade Surplus

Singapore is pushing back firmly against potential U.S. trade barriers, arguing that bilateral economic fundamentals leave no rationale for tariffs.Speaking after ASEAN foreign ministers' meetings in Manila, Balakrishnan said he told Rubio that the U.S. runs a growing trade surplus with Singapore, making tariffs unjustified on technical or economic grounds.He added that while Washington may have domestic reasons for raising tariff revenue, Singapore wanted to ensure it did not become "collateral damage" as the US increased tariffs on its trading partners.

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Asia

Alipay+ Adds Hang Seng Bank as First Hong Kong Banking Partner

Ant International's unified wallet gateway, Alipay+, is adding more bank partners to its network of over 50 digitla wallets and financial institutions, with Hang Seng Bank (HKG:0011) the latest banking partner, according to a company release on Friday.Users of Hang Seng Mobile App can now make QR code payments in the Chinese mainland and beyond at more than 100 million merchants across 55 countries.Alipay+ is accepted in over 220 markets and has partners including Singapore's Oversea-Chinese Banking Corp. or OCBC (SGX:O39), Public Bank in Malaysia, Bank of the Philippine Islands and Asia United Bank.

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Asia

Mitsubishi Materials Files for Singapore Listing of 70 Billion Yen Bonds

Mitsubishi Materials (TYO:5711) filed for the listing of 70 billion yen bonds on the Singapore bourse, according to a filing with the Singapore Exchange on Friday.The company filed for the listing of 35 billion yen zero-coupon convertible bonds due 2032 and 35 billion yen zero-coupon convertible bonds due 2030.The bonds will be listed and quoted on the Bonds Market on or about July 27, the filing said.

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International

Trump Administration Slaps Up to 12.5% Tariffs on 60 Nations Over Forced Labor Concerns

US President Donald Trump's administration on Thursday imposed new tariffs of up to 12.5% on South Korea, Japan and 58 other trading partners over forced labor concerns.The imposition of tariffs followed Section 301 investigations into whether these economies fail to prohibit or enforce a ban on imports made with forced labor, according to White House statement on Thursday.Japan, South Korea, and Switzerland face a net 12.5% cap, meaning their effective tariffs are reduced by their existing Most-Favored Nation (MFN) duties.Australia and China will face a straight 12.5% tariff on all goods while Taiwan and the European Union will see tariffs capped at a net 10% (the difference between the MFN rate and 10%).Southeast Asian nations received mixed treatment: Malaysia, Indonesia India, and Bangladesh were assigned a 10% tariff with additional textile tariff-rate quotas (TRQs) to encourage U.S. cotton and textile imports, while the Philippines, Singapore, Thailand, and Vietnam were lumped into the 12.5% category.There is a proposed 10% tariff on goods from economies that have a forced labor import ban in place but are not yet effectively enforcing it.The six economies falling into this category are Canada, Ecuador, the European Union, Indonesia, Mexico, and Pakistan.

ASX 200^BSEHang SengFTSE Bursa Malaysia KLCI^KOSDAQ^KOSPINikkei 225Nifty 50^SETShanghai Composite^STI^SZSETaiwan Weighted
Asia

Singapore's GIC Posts 3.4% 20-Year Real Return

Singapore's sovereign wealth fund, GIC, delivered an annualized nominal US dollar return of 5.6% over the 20 years to March 31, or 3.4% after adjusting for global inflation, according to a Friday release.The 20-year rolling real return serves as GIC's primary metric to evaluate long-term performance, reflecting its mandate to preserve and enhance the international purchasing power of the national reserves under its management.The fund is now refreshing its investment framework from 2026, focusing on active investing, private markets and strategic partnerships.

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Asia

Singapore Shares Open Lower, Tracking Wall Street Decline

Singapore shares extended losses at Friday's open, tracking Wall Street's overnight decline as earnings from major tech firms fueled worries over heavy artificial intelligence spending.The Straits Times Index fell 0.5%, or 29.45 points, to 5,552.31 at the open.Sentiment was also weighed by higher oil prices amid escalating tensions in the Middle East, raising concerns about renewed inflationary pressures.

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Asia

HSBC to Sell Singapore Insurance Business to Allianz in SG$2.7 Billion Deal

HSBC (HKG:0005) agreed to sell its life and health insurance business in Singapore to Allianz for SG$2.7 billion, according to a Friday Hong Kong bourse filing.The transaction is expected to close in the first half of 2027, subject to regulatory approval.The sale is expected to generate a pre-tax gain of $1.8 billion and increase HSBC's common equity tier 1 ratio by up to 15 basis points upon completion.HSBC said the disposal follows a strategic review of the business and supports its ongoing simplification efforts while allowing the group to focus on expanding its wealth and wholesale banking franchise in Singapore.

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Asia

MSCI, SGX to Launch Futures and Options of Global and Emerging Market Indices

Singapore Exchange signed a new licensing agreement with MSCI to introduce futures and options contracts based on a suite of the former's indices across global developed and emerging markets, according to an MSCI press release on Thursday.The index and analytics provider is looking to expand its partnership with the city-state's bourse operator to cover flagship global and regional equity benchmarks, market indices and EM Asia sector indices.The agreement is structured to help institutional investors managing multi-regional equity portfolios via a centrally cleared location in the regional time zone.

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Asia

Singapore Shares Incur Losses Amid Increasing Concerns Over Supply Availability

Singapore shares plunged on Thursday, closing in the red zone amid increased concerns about supply availability following tensions around the Red Sea and strikes between the US and Iran.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,546.44 and 5,590.39 throughout the day. It ended the session at 5,581.76, down 13.66 points or 0.2% compared to Wednesday's close.In economic news, Singapore's core consumer price index (CPI), which excludes accommodation and private transport costs, rose 1.6% year over year in June, according to joint data released by the Monetary Authority of Singapore and the Ministry of Trade and Industry.On the corporate front, shares of Acrophyte Hospitality Trust (SGX:XZL) jumped nearly 7% at the close as it completed the divestment of Hyatt Memphis Primacy Parkway for $6.9 million.ISDN (SGX:I07) closed nearly 4% lower as its subsidiary, PT Leaptron Engineering, was liquidated.Meanwhile, Alpha Integrated Real Estate Investment Trust's (SGX:M1GU) distribution per unit, or DPU, climbed 19% in the first half of 2026 to SG$0.0203 from SG$0.0170 a year earlier.

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