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Straits Times Index

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196 stories mentioning Straits Times IndexUpdated 6h ago

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

Asia

Market Chatter: Only 15% of Singapore Workers Feel Confident Over Job Security Amid AI Drive

Only 15% of workers in Singapore believe their jobs are safe amid the adoption of AI in workplaces, the Business Times reported Tuesday, citing the People at Work 2026 report by cloud-based human resources services provider ADP.The number is low compared with a regional average of 18% and the global average of 22%, the report said."In Singapore, employees are not only thinking about whether they have a job today, but also whether their roles will remain relevant tomorrow," Jessica Zhang, senior vice-president for the Asia-Pacific at ADP, was quoted as saying.Workers aged between 18 and 26 in Singapore had a more optimistic outlook, with 22% feeling secure in their jobs, 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.)

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Asia

Singapore Shares Edge Higher as Core Inflation Eases to 1.4%

Singapore shares closed marginally higher on Monday, as local investor sentiment was bolstered by softer-than-expected consumer price data, while the Ministry of Trade and Industry maintained its full-year 2026 GDP growth forecast at a baseline of 2% to 4%.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,064.54 and 5,102.07 throughout the day. It ended the session at 5,070.55, up 2.40 points or nearly 0.1% compared to Friday's close.Singapore's core inflation, which excludes the cost of accommodation and private transport, eased to 1.4% year-on-year in April, compared to 1.7% in the previous month, according to a joint release by the Monetary Authority of Singapore and the Ministry of Trade and Industry.On the corporate front, shares of AddValue Technologies (SGX:A31) surged over 20% at the close as its attributable profit to equity holders soared by 49% during the fiscal second half ended March 31 to $2.9 million from $1.9 million a year earlier.Boustead Singapore (SGX:F9D) shares closed over 6% higher after agreeing with UI Boustead REIT (SGX:UIBU) to form a joint venture to invest, develop, own and operate a built-to-suit aerospace facility in Singapore.Meanwhile, shares of SunMoon Food (SGX:AAJ) closed over 4% higher as it booked an attributable profit to equity holders of SG$38,000 during the fiscal year ended March 31, against an attributable loss of SG$1.5 million a year earlier.

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International

Asia Week Ahead: Policy Rate Decisions, Inflation Prints and GDP Reports

Asia's economic calendar this week features a mix of inflation data, interest rate decisions, GDP releases and industrial figures across the region.The week opens with Singapore's GDP and inflation data, plus Thailand's trade figures, followed on Tuesday by Taiwan's industrial production and retail sales reports.Mid-week, attention turns to the Reserve Bank of New Zealand's policy decision and Australia's inflation print. On Thursday, the Bank of Korea will announce its rate decision, while Hong Kong releases trade data and India reports industrial and manufacturing output figures.Friday will be the busiest day for macro releases, led by a batch of key indicators from Japan. The week wraps up with China's PMI readings on Sunday.Here's what to watch in the week ahead.MONDAY, May 25Singapore's economy grew 6.0% year over year in the first quarter, government data showed, beating the 4.6% flash estimate and accelerating from the 5.7% growth in Q4.The expansion was driven by strong performances in the wholesale trade, manufacturing, and finance and insurance sectors.Meanwhile, the city-state's annual inflation rate held steady at 1.8% in April, unchanged from March but below market expectations of 2%.Core inflation, on the other hand, eased to 1.4% in April from 1.7% a month prior.In Thailand, exports surged 23.1% year over year to $31.6 billion in April, accelerating from an 18.7% increase in March and beating forecasts of 16.2%.Imports likewise strengthened, expanding 45% in April to $41.6 billion, compared with a rise of 35.7% a month prior.As a result, the trade deficit ballooned to $10.02 billion in April from $3.3 billion a year earlier, far above forecasts of a $5.1 billion shortfall.TUESDAY, May 26Singapore will release its April industrial production data, while Taiwan is due to report both industrial production and retail sales figures for the month.WEDNESDAY, May 27New Zealand's central bank will hold its policy meeting, with analysts expecting no change to the country's official cash rate of 2.25%, according to a Trading Economics consensus.Australia is set to release inflation figures on the same day. Consumer prices rose 4.6% year on year in March, the fastest pace since September 2023, and are expected to accelerate to 5.1% in April as oil prices climb amid the Middle East conflict.Meanwhile, China will report its industrial profits for April. A pair of confidence reports covering business and consumer sentiment will be due in South Korea and Taiwan, respectively.THURSDAY, May 28The Bank of Korea is set to meet for its policy rate decision, with markets watching for any change to its current 2.5% benchmark rate amid inflation and growth pressures linked to the ongoing conflict in the Middle East.Hong Kong will release its monthly trade figures. The April reading could show a narrowing of the trade deficit to HK$46 billion from HK$89.1 billion in March, Trading Economics forecasted.Meanwhile, India will report its industrial and manufacturing production data for April.Markets will also watch New Zealand's ANZ Business Confidence report for May, after the index dropped to -10.6 in April -- its first negative reading since August 2023 -- as the Middle East conflict weighed on sentiment.FRIDAY, May 29Japan's usual end-of-month data deluge, which includes the release of inflation, unemployment rate, industrial production and retail sales, will provide insights into the country's economic health.Markets will also watch Taiwan's final Q1 GDP growth figures for any revision from the preliminary estimate, which showed the economy expanding by 13.7%.Other highlights include trade balance figures from Macau and the Philippines, and export and import price data from Singapore.Both South Korea and Thailand will report their monthly industrial production and retail sales stats, while Macau will report its unemployment rate for April.Lastly, a report capturing business confidence in April will be due in the Philippines.SUNDAY, May 31China, the biggest economy in Asia, will release its official May PMI data covering manufacturing, non-manufacturing and general activity.

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International

Singapore April Core Inflation Eases to 1.4% as Retail Pressures Cool

Singapore's core inflation, which excludes the cost of accommodation and private transport, eased to 1.4% year-on-year in April, compared to 1.7% in the previous month, according to a joint release by the Monetary Authority of Singapore and the Ministry of Trade and Industry on Monday.The headline consumer price index, representing overall inflation, remained unchanged at 1.8% year on year in the month, as higher transport and core inflation was offset by lower core inflation.On a month-on-month basis, core inflation inched up 0.2%, while overall inflation dropped by 0.3%.Core inflation and overall inflation are currently projected to average 1.5% to 2.5% in 2026, the report said.

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Asia

Market Chatter: Singapore Aiming to Cut Down Account Opening Time

The Monetary Authority of Singapore is looking to improve the waiting time for account opening through a "risk-appropriate" approach, according to a report by Bloomberg News on Monday.Speaking at a UBS Asian Investment Conference in Singapore, MAS Managing Director Chia Der Jiun spoke about the account opening duration and how improving it could help navigate unnecessary checks on clients, the report said.The latest development comes following the rise of Singapore's importance as a banking hub amid geopolitical uncertainty, the report added.On Monday, MAS reached out to financial institutions to issue guidance on the new approach, 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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International

Singapore Maintains 2026 GDP Forecast at 2%-4%; Q1 GDP Rises Faster Than Expected

Singapore's Ministry of Trade and Industry maintained its 2026 GDP forecast between 2% and 4%, while highlighting downside risks amid the US-Iran conflict, according to a release on Monday.The city-state's economy rose 6% year over year during the first quarter of the year, extending a 5.7% expansion in the previous quarter.The latest expansion beat the 5.2% forecast by economists polled by Bloomberg and the 4.6% estimate in a separate poll by Reuters.On a seasonally-adjusted quarter-over-quarter basis, the economy expanded by 1%, following the 1.3% growth in the previous quarter. Reuters-polled analysts predicted a 0.3% contraction.The year-over-year GDP growth was driven by improved performance from wholesale trade, manufacturing and finance & insurance sectors, with AI-related demand further contributing to growth.The ministry had upgraded its growth forecast in February from 1% to 3%.However, the global economic growth outlook has been impacted since the US-Israel-Iran conflict, with energy supply disruptions and the blockade of the Strait of Hormuz creating global supply chain disruptions, the ministry said.

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Singapore Holds Growth Outlook Despite Middle East Conflict; Q1 GDP Grows 6%, Beating Forecasts
US Markets

Singapore Holds Growth Outlook Despite Middle East Conflict; Q1 GDP Grows 6%, Beating Forecasts

Singapore's economy expanded faster than expected in the first quarter of 2026, boosted by AI-driven demand, prompting the government to reaffirm its growth outlook for 2026 despite the Middle East conflict.First-quarter GDP expanded 6% year over year, sharper than the 5.7% jump in the fourth quarter of 2025, according to data from the Ministry of Trade and Industry on Monday.The latest print beat the 5.2% forecast by economists polled by Bloomberg and the 4.6% estimate in a separate poll by Reuters.On a seasonally adjusted quarter-over-quarter basis, the economy grew 1% in the January-March period, easing from the 1.3% growth in the previous quarter. However, it beat Reuters' forecast for a 0.3% drop.The Ministry of Trade and Industry maintained its full-year growth forecast at 2% to 4%, unchanged from the range it set in February, although it warned about risks stemming from the US-Iran conflict. The city-state's GDP grew 5% in 2025."[D]ownside risks to Singapore's economic outlook have risen significantly," the MTI said, citing the global energy disruption from the Middle East conflict and renewed US tariff actions that could weigh on consumer and business sentiments.The MTI also warned that a sudden decline in global AI investments could trigger downturns in global financial markets, potentially causing ripple effects throughout the wider economy.The ministry also acknowledged that the global disruptions have already spilled over to the domestic economy, with oil refineries and petrochemical crackers already reducing their run rates. Several downstream petrochemical and chemical firms have already declared force majeure.The MTI noted that trading volumes in the fuel and chemicals segment of the wholesale trade sector have declined due to disruptions to energy supplies.However, the government sees sustained AI spending as a key driver of growth for the electronics and precision engineering clusters within the manufacturing sector.The MTI expects demand for AI-related semiconductors to remain robust for the rest of the year."[R]obust AI-related demand led to growth in the machinery, equipment & supplies segment of the wholesale trade sector, as well as the electronics and precision engineering clusters within the manufacturing sector," the MTI said.Singapore's manufacturing industry expanded 7.9% in the first quarter, decelerating from the 11.4% growth in Q4 2025, as biomedical manufacturing and chemicals clusters contracted.The construction sector, however, saw output growth accelerate to 11.8% from 4.6% previously, boosted by expansions in both public and private sector construction output.The wholesale trade sector grew 11.7%, faster than 9.9% previously, while the retail trade sector rose 2.6%, also speeding up from the 2.3% increase in Q4 2025 on the back of higher non-motor vehicular and motor vehicular sales volumes.Singapore's real estate sector expanded 3.1% year over year in Q1, softer than the 3.6% increase in the prior quarter.The Monetary Authority of Singapore last month tightened its monetary policy, citing the risk of inflation from the Middle East conflict. MAS also lifted its core inflation and headline inflation forecast to a range of 1.5% to 2.5% from 1% to 2% previously.

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Asia Markets

Singapore Shares Close Higher Amid Middle East Peace Hopes; JustCo Plunges 18%

Singapore shares closed higher on Friday, tracking regional gains as investors responded positively to hopes of the US and Iran reach a deal to end hostilities.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,039.79 and 5,072.00 throughout the day. It ended the session at 5,068.15, up 22.44 points or 0.4% compared to Thursday's close.On the corporate front, shares of JustCo (SGX:JCO) crashed nearly 18% at the close as it made a tepid trading debut on the Singapore Exchange on Friday, with its shares opening 11% below the IPO price.Keppel (SGX:BN4) shares closed nearly 5% higher as its proposed divestment of its telecommunications arm, M1, to Tuas Ltd. (ASX:TUA) subsidiary Simba Telecom was terminated.Meanwhile, shares of Bukit Sembawang Estate (SGX:B61) were up over 1% at the close as the company's profit before tax zoomed 58% in the fiscal second half ended March 31 to SG$99.4 million from SG$63.0 million a year earlier.

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Asia

Digital Edge Closes First US$575 Million HoldCo Loan to Drive APAC Growth

Singapore-based Digital Edge closes a $575 million holding company (HoldCo) financing, according to a corporate release issued on Friday.Proceeds from the multi-million dollar capital pool will help the company expand its data center presence in the region and meet the growing demands for hyperscale capabilities and AI-ready infrastructure.The corporate debt facility was structured and backed by Clifford Capital, Deutsche Bank, MUFG, Sumitomo Mitsui Banking Corporation, and Standard Chartered, who were nominated as lead arrangers and bookrunners.The transaction framework also includes an embedded conversion option, allowing Digital Edge to transition the facility into a sustainability-linked loan over time, subject to meeting specific targets.

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Asia

Singapore Shares End Flat; Wilton Resources Falls 8%

Singapore shares closed Thursday's session little changed, as investors turned cautious while awaiting a breakthrough in the Middle East conflict.The Straits Times Index ranged between 5,028.90 and 5,073.11 throughout the day. It ended the session marginally higher at 5,045.71.On the corporate front, shares of Wilton Resources (SGX:5F7) closed nearly 8% lower as it entered into a deed of settlement with Karl Hoffmann Mineral to resolve their financial disputes.Singtel (SGX:Z74) closed 6% lower after the telco reported a decline in its attributable profit to SG$2.20 billion in the fiscal second half ended March 31 from SG$2.79 billion a year earlier.Meanwhile, Raffles Education (SGX:NR7) gained 1% after the High Court of Singapore issued a first-tranche ruling in favor of its subsidiary, Raffles Assets (Singapore), in a lawsuit filed by NPS International School.

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Asia

Market Chatter: Singapore Overtakes Indonesia as Southeast Asia's Largest Stock Market

Indonesia's stock market slipped behind Singapore's, making Singapore the largest equity market in Southeast Asia with a market capitalization of $645 billion, Bloomberg reported Wednesday.Indonesia's market capitalization has fallen 30% since January to $618 billion, amid credit rating outlook downgrades from Fitch Ratings and Moody's, as well as concerns that Indonesian equities could be reclassified as frontier market assets.Singapore's market, on the other hand, has thrived due to economic and political stability and beneficial state policies, Singapore's stock market is poised to outperform Indonesia's by a record lead in 2026, 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 in Talks to Introduce 'Nutrition Labels' for Consumer Products with AI Features

Singapore's Digital Development and Information Minister Josephine Teo said the country is in discussions with technology companies about using "nutrition labels" for consumer products with AI features, Reuters reported Wednesday.The labels would indicate the "right ways" and "not-so-correct ways" of using AI in consumer applications, Teo reportedly told Reuters on the sidelines of a technology summit.(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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International

Singapore Retail Vacancy Stable at 6.3% in Q1

Singapore's retail vacancy held firm at 6.3% during the first quarter of the year, despite lower leasing demand, according to a report by Savills on Thursday.Average monthly rents in the Orchard Area remained stable, while suburban rents reported slight growth.The suburban retail sector reported a net absorption of 140,000 square feet during the period, while rents in the Orchard area were up 0.1% quarter over quarter.Savills projects that a total of 427,000 square feet of net lettable area will come online in 2026.

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Asia

Market Chatter: Singapore Deputy PM Urges Banks, Financial Firms to Use AI for Job Creation

Singapore's Deputy Prime Minister Gan Kim Yong has urged the city-state's banks and financial firms to adopt artificial intelligence to create jobs and train employees, rather than just for cutting costs, according to a Reuters report on Wednesday.The deputy PM's comments come in light of Standard Chartered's plans to cut more than 7,000 jobs in the next four years, the report added.Speaking at an event in Singapore, Gan stressed the usage of deploying AI to create better roles and a safe working environment, 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.)

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Asia

Singapore Shares Close Lower; TSH Resources Slides 7%

Singapore shares ended lower on Wednesday amid mounting inflation concerns as elevated oil prices, driven by the ongoing U.S.-Iran stalemate, weighed on investor sentiment.The Straits Times Index ranged between 5,024.99 and 5,069.45 throughout the day. It ended the session down by 27.43 points, or 0.5%, to close at 5,044.91.On the corporate front, Singapore-listed shares of TSH Resources (SGX:TSH, KLSE:TSH) fell 7% at the close after the palm oil company reported a 56% decline in its attributable profit to 21.3 million ringgit from 48.2 million ringgit a year earlier.TrickleStar (SGX:CYW) closed 3% lower as it was granted in-principle approval by the SGX-ST for the listing and quotation of 79.1 million shares.Meanwhile, shares of Sembcorp Industries (SGX:U96) were up nearly 1% after its subsidiary, Sembcorp Energy UK, signed a joint development agreement to deliver the first phase of a new data center development at the Wilton International site in Teeside, UK.

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OpenAI to Invest SG$300 Million to Set Up AI Laboratory in Singapore
US Markets

OpenAI to Invest SG$300 Million to Set Up AI Laboratory in Singapore

OpenAI, the maker of ChatGPT, will establish an applied artificial intelligence laboratory in Singapore for SG$300 million as part of its partnership with the government, the company announced in a press release Tuesday.The laboratory, which is OpenAI's first outside of the U.S., will create over 200 new technical jobs."Through the partnership, the Lab will support work aligned with Singapore's AI Mission priorities, particularly in areas such as public service, finance, healthcare and digital infrastructure," OpenAI said.The Singaporean government is partnering with international AI companies to help its citizens adapt with the evolving AI landscape. In 2023, the government launched the National AI Strategy, which has been upgraded in May this year to add ten refreshed priorities."Two and a half years on, much has changed. The AI story is no longer just about technology. It has expanded considerably to include our economies and societies, with serious implications for security and governance," Singapore's Minister for Digital Development and Information, Josephine Teo, said in her foreword in the NAIS updated guideline.OpenAI's rivals, such as Google, also partnered with the Singaporean government for the development of AI systems.Google did not give specific plans on how it would boost the AI landscape in Singapore, but it said in a Tuesday news release that it will develop AI technologies that would assist the public healthcare sphere through DeepMind, and equip Google Cloud's AI-enabled tools to support scientific research and analysis.The U.S.-based tech giant also said it will develop a running agent for blind and low vision athletes in partnership with SG Enable, Singapore's main agency for disability.Google will also assist in improving AI capabilities of the educational sector and the business industry.Singapore's initiative is giving American AI firms the chance to set up business without the risk of bumping into stringent regulations. It is also becoming a hub for Chinese tech startups that look to operate outside the mainland.Brad Gastwirth, Circular Technology's global head of research, said Singapore is becoming a "neutral hub for AI companies from both the U.S. and China," according to an April 24 report on Reuters.

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International

Fitch Sees Manageable Risk in APAC Insurer Private Credit Exposure

Fitch Ratings says private credit exposure among major rated Asia-Pacific insurers remains broadly contained, with allocations still below 5% of total assets or around 10% of equity capital, including contractual service margin, in 2025.While positions have climbed over the past two to three years, Fitch said the shift has not materially altered overall portfolio risk profiles.The agency noted insurers are relying on tighter safeguards, including diversification across managers, borrowers, sectors and regions, alongside conservative sector choices and limits on leverage. Portfolios are mainly focused on senior secured and asset-backed loans, with regular checks on valuations, credit changes and recoveries due to the illiquid nature of the asset class.Fitch added that regulatory reforms and accounting changes, including risk-based capital frameworks and IFRS 17 and IFRS 9, have supported the allocation trend by improving capital efficiency.

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Asia

Market Chatter: Singapore GasCo Secures LNG Stock for 2026

State-owned Singapore GasCO said it has secured sufficient liquefied natural gas (LNG) for the remainder of the year, according to a report by The Business Times on Wednesday.The move comes following the US-Iran conflict, which has impacted fuel shipments passing through the Strait of Hormuz, the report added.As part of its energy security strategy, the company is also looking to wrap up long-term deals with the likes of the US, Australia and Canada, according to CEO, Alan Heng.The city-state is completely reliant on natural gas to meet its electricity needs, 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

Market Chatter: OpenAI Commits More than SG$300 Million to Establish AI Lab in Singapore

OpenAI has agreed to invest more than SG$300 million to establish an AI Lab in Singapore, according to a report by Bloomberg on Wednesday.The developer of ChatGPT is targeting to hire more than 200 people across various roles in the city-state over the next few years, the report added.The move is part of the company's push to form relationships with governments across the globe amid heightened competition from the likes of Anthropic and Alphabet, 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.)

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International

Market Chatter: Singapore Now Southeast Asia's Largest Stock Market

Singapore has overtaken Indonesia as Southeast Asia's largest stock market, with market capitalization jumping to $645 billion, according to a report by Bloomberg News on Wednesday.Meanwhile, Indonesia's market capitalization fell by over 30% from a peak in January to $618 billion, the report added.The Straits Times Index growth has been driven by government initiatives, with more funds flowing into the market, the report said.According to a portfolio manager at Lion Global Investors, Kenneth Ong, Singapore's market has taken advantage of geopolitical uncertainty and has become a safe haven for the financial sector, the report noted.During March, foreign deposits in the city-state's banks rose to SG$659 billion, according to data compiled by Bloomberg.(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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