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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 Open Lower as Wall Street Mixed, Fed Rate Hike Fears Linger

Singapore shares opened lower on Friday, tracking broader losses across Asian markets following a mixed overnight session on Wall Street and renewed expectations of a US Federal Reserve rate hike later this year.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, fell 0.2%, or 11.35 points, to open at 5,207.610.US markets ended mixed on Thursday as investors weighed the profitability of large-scale AI investments against stronger-than-expected inflation data. The S&P 500 slipped 0.01% and the Nasdaq declined 0.46%, while the Dow Jones Industrial Average added 0.14%.While the US Federal Open Market Committee held interest rates steady in the 3.50%-3.75% range at its June meeting, CME FedWatch futures data indicates an 80% market probability of a benchmark rate hike at the Fed's Sept. 15-16 meeting, according to Reuters.

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Asia

Singapore Shares Extend Gains as Amid Drop in Fuel Prices

Singapore shares extended further gains on Thursday, tracking gains across the region as the US oil prices fell to their lowest level since the start of the US-Iran war, giving way to optimism.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,212.69 and 5,232.64 throughout the day. It ended the session at 5,218.96, up 2.97 points or 0.1% compared to Wednesday's close.On the corporate front, shares of Frasers Property (SGX:TQ5) were up nearly 2% at the close with the property developer proposing an optimization of its portfolio involving around SG$2.1 billion worth of assets.Elite UK REIT (SGX:MXNU) were down over 3% as it issued 25 million private placement units at 0.296 pounds sterling per unit.Meanwhile, GRP (SGX:BLU) subsidiary, Ratus Nautika, is facing new legal proceedings initiated by Energiser Enterprise for "further damages," following a settlement more than two months ago.

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Asia

Mitsubishi Files for Singapore Listing of $1 Billion Bonds

Mitsubishi (TYO:8058) filed for the listing of $1 billion worth of bonds on the Singapore bourse, according to a filing with the Singapore Exchange on Thursday.The Japanese business integrated enterprise filed for $500 million worth of 4.625% senior bonds due 2031 and $500 million worth of 5.125% senior bonds due 2036.The bonds will be listed and quoted on the Bonds Market on June 26, the filing said.

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International

Market Chatter: Singapore's MAS Likely to Maintain Rates as Core Inflation Holds, Economists Say

The Monetary Authority of Singapore is expected to maintain its monetary policy for its next meeting in July after core inflation held steady at 1.4% in May, Bloomberg reported Wednesday.Economists, in Bloomberg's survey, believe the city's decision makers have room for monetary policy to hold steady as price pressures have been contained, but policymakers would also have to monitor the impact of worldwide trade tensions on Singapore's trade-reliant economy, the report said.The city's central bank raised its core inflation forecast to 1.5% to 2.5% in 2026 from 1% to 2%.(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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Singapore Unveils Eight-Point Blueprint to Become 'AI-Empowered Economy'
US Markets

Singapore Unveils Eight-Point Blueprint to Become 'AI-Empowered Economy'

Singapore outlined plans to become an "AI-empowered economy" as part of an eight-point blueprint, aiming to position the city-state as a hub for developing and deploying artificial intelligence products at scale.The Economic Strategy Review (ESR), submitted to the government by five private-sector-led committees and published Wednesday, calls AI "a force multiplier for Singapore's economy," capable of "unlocking growth, creating good jobs, and delivering tangible benefits for all Singaporeans.""AI technology is advancing at an unprecedented rate. ... We need to be agile and continually review and update our strategies as AI capabilities evolve, to ensure that our businesses and workers keep pace with the technological changes," the report said.The review, which launched in August 2025 under Singapore's Economic Resilience Taskforce, identified AI as its second of eight thrusts, positioning Singapore not as "the biggest frontier AI model or host the largest AI data centers," but as a "trusted hub where AI solutions are developed, tested, and deployed to tackle real-world problems at scale."To achieve that goal, the government launched the National AI Council earlier this year, chaired by Prime Minister Lawrence Wong. The council is tasked with co-developing sector-specific problem statements and marshalling key resources such as datasets and data infrastructure, compute and regulatory sandboxes.The council is focused on four areas: advanced manufacturing, finance, healthcare and logistics."We should also update our rules for AI governance and invest in AI safety capabilities, so that Singapore becomes a trusted environment for responsible AI innovation," according to the review.The review also pushes for a "Champions of AI" program, an initiative announced in March, to integrate AI end-to-end across companies' operations.Additionally, the ESR highlighted the need to adopt AI beyond leading firms to the wider business base. The review cited challenges among SMEs, such as capability and cost constraints, and lack of access to large, high-quality datasets to develop their AI services.The AI plans are part of a broader set of economic recommendations in the ESR. Other recommendations include deepening capabilities for high-value manufacturing and modern services, expanding access to growth capital, and "diversifying risks, building buffers and deepening partnerships" for economic resilience.The Ministry of Trade and Industry has projected GDP trend growth of 2% to 3% annually over the next decade. The ESR called the range "ambitious" based on the standards of advanced economies. The review said the target will not be easy to achieve amid "this challenging environment."

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Asia

Singapore Shares Open Marginally Higher on Jump in US Equity Futures

Singapore shares opened marginally higher on Thursday, driven by gains in U.S. equity futures after US-based computer memory chip maker Micron Technology's stronger-than-expected sales forecast boosted investor confidence in the AI-driven market rally.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, rose 0.05%, or 2.96 points, to open at 5,218.950.Micron Technology expects revenue to be around $50 billion in the fiscal fourth quarter, with diluted earnings per share of $30.73. Gross margin is expected to be around 86%.Other key Asian Pacific markets were also up in Thursday morning trade, taking cues from Micron Technology's record fiscal Q3 results and even stronger outlook for Q4. The markets of Japan, South Korea, Taiwan, New Zealand, and Malaysia started the day on a positive note.In other news, U.S. Secretary of State Marco Rubio said Wednesday that Iran would not be allowed to charge tolls on ships transiting through the Strait of Hormuz under any final deal with Washington, as technical talks are scheduled to resume in Geneva next week.Meanwhile, Iranian Parliament Speaker Mohammad Bagher Ghalibaf said Tehran was not forced into signing the U.S.-Iran memorandum of understanding, which aims to permanently bring the conflict to an end.

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Asia

Singapore Targets Industry Partnerships in Pursuit of Creating 'AI-Empowered Economy'

Singapore unveiled plans to be "an AI-empowered economy" as part of an eight-point plan to secure continued economic growth and improved resilience for the city-state.Aside from supporting at-scale AI development and deployment and supporting local companies, the government said it will pursue industry partnerships to accelerate economy-wide AI adoption, according to the Economic Strategy Review published Wednesday."AI technology is advancing at an unprecedented rate. ... We need to be agile and continually review and update our strategies as AI capabilities evolve, to ensure that our businesses and workers keep pace with the technological changes," the report said. "If done well, AI can be a force multiplier for Singapore's economy, unlocking growth, creating good jobs, and delivering tangible benefits for all Singaporeans."Other recommendations in the review, which launched in August 2025, included deepening capabilities for high-value manufacturing and modern services, expanding access to growth capital, and "diversifying risks, building buffers and deepening partnerships" for economic resilience.

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Asia

Singapore Shares Extend Gains as US-Iran Negotiate Peace Framework;

Singapore shares remained in the green on Wednesday as investors assessed the details of peace negotiations between the US and Iran.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,198.65 and 5,232.19 throughout the day. It ended the session at 5,215.99, up 10.25 points or 0.2% compared to Tuesday's close.On the corporate front, shares of TrickleStar (SGX:CYW) were up nearly 3% at the close as it issued and allotted 678,243 new shares pursuant to awards vested under its performance share plan.Singtel's (SGX:Z74) shares closed over 1% higher as its Australian subsidiary, Singtel Optus, priced SG$200 million of 10-year fixed-rate bonds.Meanwhile, Ho Bee Land (SGX:H13) priced SG$150 million worth of 3.30% fixed rate green bonds due on June 30, 2031.

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Asia

AI-Driven Boom to Benefit Tech-Heavy Asia-Pacific Economies, S&P Says

Asia-Pacific economies with significant tech manufacturing will benefit from an AI-linked tech export boom, S&P Global Ratings said Wednesday.The benefits from the AI tech rally will counter the adverse effects from the energy shock in these economies, S&P Asia-Pacific chief economist Louis Kuijs said.S&P sees possible upward GDP estimate revisions for markets with solid tech shipments, mainly South Korea and Taiwan, as well as Malaysia, Singapore, and Thailand.Meanwhile, the impact of the energy shock has dampened growth forecasts for India, Japan, New Zealand, and the Philippines, S&P said.The rating agency's forecast for China remains stable as strong export dynamics offset weaker domestic demand.S&P maintained its baseline GDP growth forecasts in the region excluding China at 4.5% for 2026 and 4.4% for 2027.

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Asia

Market Chatter: Lazada to Lay Off Undisclosed Number of Employees in Singapore

Lazada, a regional e-commerce company, is expected to lay off an undisclosed number of employees in Singapore, as part of its retrenchment exercise across Southeast Asia, The Straits Times reported on Tuesday, citing a source familiar with the matter.A Lazada spokesperson was cited in the report as saying that the company is evaluating selected roles across Southeast Asia, and that the e-commerce company will provide guidance and support to employees who will be laid off.The move comes after Shopee fired hundreds of developer jobs globally earlier in June, along with Amazon confirming jobs cuts in the city-state, the report said.Lazada did not immediately reply 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

Market Chatter: Singapore's Fuel Prices Drop Amid US-Iran Peace Progress

Fuel pump prices in Singapore have eased, with 95-octane petrol dropping to SG$3.42 per liter across all major operators, The Straits Times reported Tuesday, citing the Consumers Association of Singapore's Price Kaki tracking app.The rate was reached after Esso matched the four-cent reductions introduced days earlier by Caltex, Shell, China Petroleum & Chemical Corp. (SHA:600028, HKG:0386) or Sinopec, and SPC.The price cuts follow a decline in global oil markets amid the US-Iran framework agreement, with the benchmark crude oil dropping to around $77 a barrel on Wednesday, according to Trading Economics.(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 Open Flat Amid Mixed Broader Asian Markets

Singapore shares opened flat with positive bias on Wednesday, tracking mixed sentiment across major Asian markets after a massive technology-stock-led sell-off in the previous session as investors took an optimistic yet cautious approach amid concerns over AI spending and semiconductor firms' valuations.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, rose 0.08%, or 4.19 points, to open at 5,209.930.Market-moving bank stocks were mixed in early morning trade, with DBS Group Holdings (SGX:D05) and United Overseas Bank (SGX:U11) gaining marginally, while shares of Oversea-Chinese Banking Corporation (SGX:O39) slightly declined.In other news, US President Donald Trump said Tuesday that Iran had agreed to permit nuclear inspections, although Tehran said it has no plans to allow the International Atomic Energy Agency (IAEA) inspectors set foot in its bombed enrichment sites.Iran's chief negotiator, Mohammad Bagher Ghalibaf, said the Strait of Hormuz would "never return to its pre-war conditions" and that Tehran would maintain control over the key waterway.

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Asia

Market Chatter: Singapore's Foundation Healthcare Eyes SG$242 Million IPO

Singapore-based Foundation Healthcare is eyeing to make its debut on the Straits Times Index (STI) in an initial public offering valued at SG$242 million, Reuters reported Tuesday, citing a term sheet.The private healthcare group plans to price its shares between SG$0.76 and SG$0.92 each, which could generate a market capitalization in the range of SG$1.01 billion to SG$1.20 billion. The shares are expected to commence trading on the STI on July 8, the report said.The IPO includes about SG$118 million in shares earmarked for cornerstone investors, including Amova Asset Management Asia, Aregence Capital, Granite Asia, Hood River Capital Management, IFC, Lion Global Investors, Manulife Investment Management, Openspace Capital, RBC Global Asset Management, and UBS, according to the report.Foundation Healthcare did not immediately reply 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 Remain Resilient Despite Regional Downturn; Trek 2000 International Down 8%

Singapore shares remained marginally in the green zone on Tuesday, despite broader regional losses backed by a cooling of a rally in heavy-weight chip stocks.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,193.65 and 5,241.80 throughout the day. It ended the session at 5,205.74, up 1.73 points or 0.03% compared to Monday's close.In economic news, Singapore's core consumer price index (CPI), which excludes accommodation and private transport costs, remained steady at 1.4% year over year in May, according to joint data released by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI).On the corporate front, shares of Trek 2000 International (SGX:5AB) were down nearly 8% at the close as it secured a $350,000 contract with Cambodian textile manufacturer, Our HS Convenience, to supply, install and commission its AI Renewable Energy Solutions ecosystem.Singtel (SGX:Z74) closed under 1% lower as it disposed of a 2.8% stake in Thailand energy company, Gulf Development, for SG$1 billion, according to a company release on Tuesday.Meanwhile, Interra Resources (SGX:5GI) has agreed to sell its entire stake in its Myanmar petroleum assets to Sinopetro Holdings Limited for a combined $7.8 million.

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Singapore Inflation Holds Steady in May as Lower Service Costs Offset Gains
US Markets

Singapore Inflation Holds Steady in May as Lower Service Costs Offset Gains

Singapore's core inflation, the central bank's preferred gauge of consumer prices, held steady in May, defying market expectations for an uptick as a slowdown in service costs helped temper broader price pressures.Core inflation, which excludes accommodation and private transport costs to better reflect everyday household expenses, remained unchanged from April at 1.4%, the Monetary Authority of Singapore (MAS) reported on Tuesday.The reading landed below the 1.6% median estimate in a Bloomberg News survey.Headline inflation, measured by the all-items consumer price index, also matched April's pace at 1.8% year over year, coming in under the 2% consensus forecast compiled by Investing.com and Bloomberg.Services inflation slowed to 1.3% in May from 1.5% in April, driven primarily by a sharp decline in telecommunication service fees.Retail and other goods inflation inched up to 1.6% in May from 1.5% in April with an acceleration in the prices of personal care appliances and information and communications equipment.Food prices surged 1.8% from a 1.6% increase in April, fueled by rising prices for non-cooked food and food services.Accommodation prices edged up to a 0.5% rise in May from 0.4% a month earlier as housing rents increased.Electricity and gas prices fell 3%, unchanged from April, in step with the decline in the World Bank's energy price index by 8.7% and the 10.7% fall in Brent crude prices.Private transport prices surged to an 8.6% increase from 8.1% in the previous month, driven by higher car and motorcycle prices, the central bank said.Despite some easing in May, global energy prices still stayed high, and have driven production and transport costs for Singapore's imports, the MAS said.Meanwhile, service labor costs are forecast to increase slowly in 2026 on an easing in nominal wage growth, MAS said.For 2026, core and all-price inflation are seen to average between 1.5% and 2.5%.

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Asia

Korea Gas Files for Singapore Listing of $700 Million Worth of Bonds

Korea Gas (KRX:036460) filed for the listing of $700 million worth of bonds on the Singapore bourse, according to a filing with the Singapore Exchange on Tuesday.The Korean gas supply company filed for $350 million worth of 4.500% senior unsecured bonds due 2031 and $350 million worth of unsecured floating rate bonds due 2029.The bonds will be listed and quoted on the Bonds Market on June 24, the filing added.

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International

Singapore's Core Inflation Steady at 1.4% in May

Singapore's core consumer price index (CPI), which excludes accommodation and private transport costs, remained steady at 1.4% year over year in May, according to joint data released by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Tuesday.The reading was below the consensus forecast of 1.6% tracked by Investing.com.Meanwhile, headline inflation (CPI-All Items) was also unchanged at 1.8% as higher private transport and accommodation costs were offset by lower services inflation.MAS and MTI noted that core inflation is expected to average between 1.5% and 2.5% for the full year.

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Asia

Singapore Shares Open Higher as US Eases Sanctions on Iranian Oil

Singapore shares opened higher on Tuesday, as investors turned optimistic after the U.S. partially eased sanctions on Iranian oil exports the previous day.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, rose 0.2%, or 10.42 points, to open at 5,214.440.The U.S. Treasury on Monday issued a 60-day sanctions waiver, making the way for Iranian oil production, deliveries, and sales to the U.S.The move comes after encouraging reports from mediators Qatar and Pakistan and U.S. Vice President JD Vance on the talks in Switzerland between Washington and Tehran aimed at securing a peace agreement and restoring oil traffic via the key waterway Strait of Hormuz.

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Asia Markets

Singapore Shares in Green as US-Iran Continue with Peace Negotiations

Singapore shares closed higher on Monday, with investor sentiment given a boost as dialogue between the US and Iran for lasting peace continued.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,204.01 and 5,174.30 throughout the day. It ended the session at 5,204.01, up 11.31 points or 0.2% compared to Friday's close.On the corporate front, shares of Asiatic Group (SGX:5CR) plunged over 25% as it agreed to dispose of a 49% stake in Colben Energy (Cambodia) to the chairman of its joint venture partner, Royal Group Phnom Penh, for $3.1 million.MetaOptics (SGX:9MT) closed nearly 2% as it received a revised listing and quotation notice from the SGX-ST for up to 121.3 million new shares to support its proposed listing on the Nasdaq exchange via American Depository Shares.Meanwhile, shares of Frasers Logistics & Commercial Trust (SGX:BUOU) were down nearly 2% at the close as it signed two five-year property management agreements.

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International

Asia Week Ahead: Policy Rates; Inflation Prints; and Labor Data

The macro calendar in Asia for the week of June 22 will be relatively light, though investors will still have a mix of inflation prints, activity indicators and policy decisions to track.The week gets off to a quiet start on Monday with China's benchmark lending rates.Activity picks up Tuesday with inflation data from Hong Kong and Singapore, alongside preliminary manufacturing and services readings from several major economies.Wednesday brings Thailand's monetary policy decision, while Thursday will shift the focus to Australia's labor market data.Friday rounds out the trading week with Tokyo inflation data, as well as Singapore's trade and industrial production figures.China's industrial profits data will follow on Saturday, with markets watching for signs of continued growth in corporate earnings.Here's what to watch in the week ahead.MONDAY, June 22The week kicked off with the release of China's closely-watched lending rates.As expected, the People's Bank of China kept its benchmark rate steady at its monthly fixing, with the one-year and five-year loan prime rate (LPR) maintained at 3% and 3.50%, respectively.Macao's monthly inflation print will be in the news later in the day.TUESDAY, June 23The second day of the week brings inflation data from Hong Kong and Singapore, along with preliminary readings on manufacturing and services activity across several economies.Singapore's inflation is expected to rise to 2.1% year on year in May from 1.8% in April, according to ING. The bank said the increase would mainly reflect elevated food prices and the delayed pass-through of earlier fuel price gains.Inflation in Hong Kong is similarly expected to accelerate to 2.1% in May from 1.7% in April, Trading Economics forecasted.Taiwan will report its monthly export orders and unemployment rate. Economists at ING said they expect May export orders to rise to 50.7% year on year amid the ongoing tech boom.Meanwhile, unemployment is expected to edge up to 3.4% in May from 3.34% in April, according to a Trading Economics forecast.On the activity front, S&P Global releases flash purchasing managers' index reports covering manufacturing, services, and composite activity in India, Japan, and Australia.Thailand reports its trade figures for May.According to Trading Economics, the country's trade deficit could narrow to $5 billion from a $10.02 billion deficit in the prior month period.South Korea's monthly consumer confidence report will also be among the highlights of the day.WEDNESDAY, June 24Thailand's central bank will convene for its interest rate decision, with markets expecting no change to the current benchmark of 1%, according to a Trading Economics forecast.Markets will also be closely watching Australia's monthly inflation print after the country's central bank decided to leave the cash rate target unchanged at its most recent meeting to assess the impact of previous rises and the oil supply disruption.Australia's consumer price index (CPI) is expected to fall 0.3% from the previous month, a result that would still see the annual pace of inflation rise to 4.4%, Westpac said.Transport is expected to be the primary drag due to lower fuel prices, alongside declines in clothing and footwear, somewhat offset by modest gains in food and housing, according to the bank.Elsewhere, Taiwan will report industrial production and retail sales data for May.As with export orders, industrial production is expected to benefit from the ongoing tech boom and could record a growth of 14.2% year on year, ING said.THURSDAY, June 25Thursday will be relatively light on macro readouts, with Australia's monthly labor data among the handful of releases of note.Westpac said it expects Australia's May labour force data to show a bounce-back after April's data surprised materially to the downside, possibly due to extra holiday-related weakness tied to the survey's Easter timing.The bank forecast a bounce-back in employment of 45,000 for May, with the participation rate edging back up to 66.8%, and the unemployment rate slipping to 4.4% from 4.5%.Hong Kong's May trade figures will also feature Thursday.The city is expected to report a trade deficit of HK$32.5 billion for the month, widening from a deficit of HK$29.5 billion in April, Trading Economics forecasted.In South Korea, the business confidence survey for June will be expected. The readout should show an improvement in business sentiment amid easing geopolitical tensions and strong performance in the tech sector, ING said.FRIDAY, June 26Japan's closely watched Tokyo core consumer price index for June will capture headlines, offering markets an early indicator of the overall inflation rate in the country.Economists at ING expect headline inflation to rise modestly to 1.7% year on year from 1.4% in the prior month and below the government's 2% target."JPY weakness and second-round effects from higher energy prices should add to inflationary pressures on both goods and services prices," ING said.Trade data from Singapore and Macao will also feature Friday, with Singapore additionally reporting industrial production data.Lastly, the Philippines will release its business confidence report for May.SATURDAY, June 27The week rounds off with the release of China's industrial profits data.After profits at major industrial enterprises rose 18% year on year in the first four months of 2026, markets will be watching the latest data for signs of continued growth.

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