Straits Times Index

Market Chatter: Economists Downgrade Singapore's Economic Outlook in June Survey

Economists have trimmed their Singapore economic growth forecasts, while lifting inflation projections, according to a survey conducted by Bloomberg between June 2 and June 5.The survey has cited headwinds from supply chain disruptions caused by conflict in the Middle East as the key reason behind the revised outlook, the report said.The city-state's GDP growth rate for the second quarter has been revised to 3.9% from 4.5%, while full-year GDP was trimmed to 3.3% from 3.5%, the survey noted.Headline inflation has been raised to 2.3% from 1.5%, while core inflation projections have been revised to 2% from 1.5%, the report 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.)

AEM, Top Glove and PC Partner Among New Entrants in iEdge Singapore Next 50 Index Update

AEM Holdings (SGX:AWX), Top Glove (SGX:BVA), UI Boustead REIT (SGX:UIBU) and PC Partner Group (SGX:PCT) have been added to the iEdge Singapore Next 50 Liquidity Weighted Index following the latest review, with the changes to take effect on June 22.The index, which tracks the next 50 most liquid SGX-listed companies outside the Straits Times Index, delivered a 12.3% total return in the first five months of the year, outperforming the STI's 10.8%, according to a Monday filing with the Singapore Exchange.The technology sector's weighting in the index rose to 26.2% from 16.6%, the data showed.

Market Chatter: Singapore Prime Minister Warns Middle East Conflict Will Fuel Inflation, Slow Singapore's Growth in H2

Singapore is bracing for slower economic growth and higher inflation in the second half of the year as the ongoing Middle East conflict threatens to disrupt global trade, Bloomberg News reported Monday, citing statements made by Prime Minister Lawrence Wong.Speaking at a Singapore Press Club event, Wong noted that while the global economy has tapped into alternative oil supplies and existing inventories, these buffers are depleting, the report said."There's a lag," Wong reportedly said, adding, "There are downside risks, and we do expect more pressures to come on both growth and inflation in the second half of the year."(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.)

Singapore Shares Slide Nearly 2% as Markets React to Middle East Conflict; Asiaphos Surges 13%

Singapore shares plunged on Monday, losing nearly 2%, tracking regional losses as investor sentiment took a major hit following recent developments in the Middle East.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,952.66 and 4,996.40 throughout the day. It ended the session at 4,963.67, down 86.29 points or 1.7% compared to Friday's close.Israel and Iran traded strikes in what was the worst escalations between the two sides since the April ceasefire, threatening to jeopardize ongoing negotiations between Washington and Tehran.On the corporate front, shares of Asiaphos (SGX:5WV) surged nearly 13% as it signed a non-binding term sheet to acquire a 51% controlling stake in DC Alliance, which owns a Tier III certified data center in Western Australia for AU$7.7 million.Lum Chang Creations (SGX:LCC) declined nearly 6% as it decided to delay its planned share placement, a prerequisite for the transfer of its shares to the Mainboard of the Singapore Exchange Securities Trading, driven by market volatility.Meanwhile, MTQ (SGX:M05) was up over 4% at the close as it entered into a conditional sale and purchase agreement to sell its subsidiary, Premier Estate to H3 Engineering Services for SG$12 million.

Singapore Shares Remain in Red Amid Fragile US-Iran Peace; Medi Lifestyle Down 10%

Singapore shares closed in the red zone on Friday, tracking regional losses, with investor sentiment taking a fresh hit after Iran warned the US of "full-scale resumption" of the conflict.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,041.58 and 5,084.00 throughout the day. It ended the session at 5,049.96, down 17.57 points, or 0.4%, from Thursday's close.In economic news, Singapore's total retail sales rose 5.4% year over year to SG$4.3 billion in April, according to the Statistics Department.On the corporate front, Medi Lifestyle (SGX:Z4D) plunged over 10% at the close as it reached an agreement with controlling shareholder, Chua Yi Hang, to offset part of a shareholder loan.Shares of Gallant Venture (SGX:5IG) closed over 5% higher as its unit, PT Batamindo Investment Cakrawala, secured financing for the development of a coal-fired power plant in Indonesia.Meanwhile, shares of Civmec (SGX:P9D, ASX:CVL) were up over 1% as it secured a series of new contract awards, panel extensions and orders across its resources, infrastructure, energy and maintenance divisions, lifting its order book to a record AU$1.5 billion.

Export-Import Bank of Korea Files for Singapore Listing of HK$4 Billion Bonds

Export-Import Bank of Korea filed for the listing of HK$4 billion worth of 3.324% bonds due 2029 on the Singapore bourse, according to a filing with the Singapore Exchange on Friday.The bonds will be listed and quoted in the Bonds Market on June 8, the filing added.

Singapore's Total Retail Sales Rise 5.4% in April

Singapore's total retail sales rose 5.4% year over year to SG$4.3 billion in April, the Statistics Department said in a Friday release.The growth was higher than the 4.6% increase in March.Excluding motor vehicles, parts, and accessories, retail sales jumped 4.5% year over year to SG$3.6 billion.

Market Chatter: Singapore Denies Forced Labor Claims After Trump's 12.5% Tariff Plan

The Singaporean government has denied forced labor allegations made by the US against it after US President Donald Trump proposed a 12.5% tariff on goods linked to the city-state, Bloomberg News reported Thursday.The tariff was proposed following a Washington inquiry into how trade partners handle goods allegedly produced by forced labor, the report said.However, in an email response to Bloomberg, Singapore's Ministry of Trade and Industry rejected the claims, pointing to a total lack of evidence of forced labor within the country's supply chains.Under the proposed levy, Singapore's domestic exports to the US are likely to be impacted if the proposed tariff is implemented, Bloomberg 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.)

Singapore's Proposed TLAC Framework May Impact Banks' Support Ratings, Fitch Says

The Singaporean central bank's proposal for a total loss-absorbing capacity (TLAC) framework could impact banks' support ratings, Fitch Ratings said in a Thursday release.The "aa-" government support rating for the country's three major local banks are in line with their viability ratings, serving as a backstop to their AA- issuer default ratings, Fitch said.The rating agency may not consider government support for markets with credible banks resolution and expectations of senior debt being bailed in.With this, the equilibrium between DBS Group Holdings (SGX:D05) and DBS Bank's ratings may shift if Fitch removes government support as a factor.The Monetary Authority of Singapore's propose external TLAC of 14% of risk-weighted assets of local domestic systemically banks is below the 18% minimum for global ones, Fitch said.The central bank also does not push for a TLAC leverage ratio requirement given the smaller size of varied risk profiles of the domestic banks.The proposal will also not force United Overseas Bank (SGX:U11) and Oversea-Chinese Banking (SGX:O39) to issue any additional debt, reflecting the wider flexibility in the proposed ways for banks to meet the TLAC requirement, Fitch said.

Singapore Shares Incur Losses as US-Iran Conflict Heats Up Again; Resources Global Development Up 9%

Singapore shares shed more than 1% at the close of market on Thursday, tracking regional losses, with investor sentiment taking a hit following the resumption of hostilities between the US and Iran.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,064.20 and 5,112.09 throughout the day. It ended the session at 5,067.53, down 70.71 points or 1.4% compared to Wednesday's close.On the corporate front, shares of Resources Global Development (SGX:V7R) surged over 9% at the close as it outlined plans to subscribe to its pro-rata entitlement of around 111.8 million shares in Indonesia-listed PT Singaraja Putra (IDX:SINI) for around SG$40 million.The Assembly Place (SGX:TAP) closed over 2% lower after it signed a joint venture agreement with three partners to operate serviced apartments in Tanglin Road, Singapore.Meanwhile, shares of MetaOptics (SGX:9MT) were down nearly 2% despite the semiconductor company confirming the proposed dual listing on the Nasdaq Stock Market to be on track.

Market Chatter: Singapore's LNG Fuel Supply Secure Despite Regional Supply Chain Disruption

Singapore boasts sufficient LNG replacement cargoes for the rest of 2026, despite supply chain disruptions from Qatar due to the US-Israel conflict with Iran, according to a report by Reuters on Wednesday, citing remarks made by Singapore Energy Market Authority Chief Executive Puah ⁠Kok Keong.Singapore relies on Qatari supplies for 10% of its natural gas needs, the report said.However, the city-state's energy market arm has sourced replacement cargoes from suppliers in Australia, the US and Africa, the report added.Meanwhile, Puah outlined plans to purchase more LNG across the globe to minimize concentration risk, 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.)

Singapore's Private Sector Expansion Softens in May, S&P Global Data Shows

Singaporean companies in May continued to expand, though the pace of growth eased from April, S&P Global said Thursday.The latest S&P Global Singapore Purchasing Manager's Index, which measures the health of the private sector economy, came in at 56.7, compared with 57.9 in the previous month.The reading matched March's level and marked the joint-weakest improvement in business conditions so far this year, although it remained firmly in expansion territory.

Singapore Shares Remain in Green Despite US-Iran Strikes

Singapore shares remained in the green zone on Wednesday, gaining nearly 1% at the close, despite the US and Iran conducting strikes against each other, fueling an uncertain economic outlook to the region.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,112.86 and 5,150.69 throughout the day. It ended the session at 5,138.24, up 40.82 points or 0.8% compared to Tuesday's close.On the corporate front, shares of Vin's Holdings (SGX:VIN) closed over 7% lower after the company concluded its special investigation audit over irregular transactions linked to a former senior employee and confirmed fraud risk indicators.JustCo's (SGX:JCO) shares were down over 5% at the close as its stabilizing manager, DBS Bank, purchased 642,8000 shares in the company on June 2 between the price range of SG$0.685 and SG$0.765 per share.Meanwhile, Emerging Towns & Cities Singapore (SGX:1C0) secured a key regulatory waiver from the Singapore Exchange Regulation (SGX RegCo) regarding earlier undertakings in connection with a convertible loan agreement with Luo Shandong.

Several Asian Countries Face Additional US Tariffs Over Forced-Labor Trade Practices

Several Asian countries could soon face additional duties on some of their exports to the U.S. following Washington's probe into imports produced using forced labor, the Office of U.S. Trade Representative (USTR) said Tuesday.The USTR said Bangladesh, Cambodia, China, Hong Kong, India, Japan, Malaysia, the Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, Indonesia, Pakistan, and Vietnam are among the 54 economies that have failed to impose and effectively enforce a forced-labor import ban.The USTR proposed a 10% additional tariff for economies that have partially enforced bans on the importation of certain forced-labor goods and a 12.5% tariff for the rest.

USTR Flags 60 Economies Over Forced Labor Import Gaps, Proposes New Tariffs

The U.S. Trade Representative has concluded that 60 economies failed to properly ban or enforce restrictions on imports linked to forced labor, calling the practices harmful to fair global trade, the US Executive Office announced Tuesday.Among the Southeast Asian countries named are the Philippines, Thailand, Vietnam, Malaysia, Indonesia, Cambodia and Singapore. Taiwan is also included separately among the economies cited.The findings are part of a broader review of many economies. Officials said the gaps create unfair competition by helping producers who use forced labor.USTR has proposed additional tariffs of 10% to 12.5% on affected imports and is seeking public comments before finalizing any action, with hearings scheduled for July 2026.

Mapletree Investments' Full-Year Profit After Tax Up 26%

Mapletree Investments' profit after tax and minority interest, or PATMI, rose 26% in the fiscal year ended March 31 to SG$285.6 million from SG$227.2 million a year earlier, according to a release by the REIT on Tuesday.The REIT reported a stable revenue of SG$2.2 billion during the period and booked total gross proceeds of SG$4.2 billion.In fiscal 2026, the REIT completed 13 development projects and as of March 31, it had SG$5.4 billion worth of projects under development.

Banking Sector Growth Fastest Among 18 Broader Asian Sectors in May, S&P Data Shows

Banking sector growth was the fastest among the 18 broader Asian sectors in May, with activity expanding at the strongest pace in seven months, S&P Global said in a Wednesday release.Output growth was recorded across 16 of the 18 monitored Asian sectors last month, which was unchanged from April. Only the forestry and paper products, and construction materials sectors incurred declines from April, along with lower new orders received, S&P said.New orders rose across the remaining 16 sectors last month, led by the transportation sector.Employment increased in 10 of 18 sectors, with software & services and technology equipment experiencing the strongest hiring, while insurance witnessed a cutdown in employed staff.

Singapore's Manufacturing PMI Climbs to 51 Points in May from 50.7 Points in April, According to SIPMM