SGX Hits Record High As Broad Market Gains Fuel Weekly Rally
Investor sentiment remained upbeat, driven by institutional inflows, solid corporate fundamentals, and renewed interest in local IPOs.
The STI advanced from approximately 4,130 at the start of the week to end July 18 at 4,161.43, notching a 2.8% weekly gain and rising 0.7% in the final trading session. During intraday trade, the index touched a record peak of 4,163.45, underscoring bullish momentum in Singapore equities.
All 11 sectors on the Singapore Exchange (SGX) posted gains over the week, with Industrials (5.1%), Technology (4.7%) and Healthcare (4.6%) leading the charge. The financial sector also contributed to the rally, supported by steady performance from heavyweight banks and conglomerates.
Top blue-chip performers included Jardine Matheson (1.3%), DBS (0.66%), OCBC (1.46%) and UOB (0.60%). Mid- and small-cap stocks also saw heightened activity and outsized gains, with names like Food Empire (6.6%), Seatrium (5.8%), Cortina (6.8%), Banyan Tree (8.7%) and Digilife (8.1%) among the standout movers.
The strong performance was bolstered by ongoing institutional buying, with investors rotating into growth and cyclical names on expectations of improving regional economic activity. Optimism surrounding recent IPOs, particularly the successful listing of NTT DC REIT, also lifted market sentiment.
Looking ahead, the market's broad-based rally and record-setting performance suggest strong underlying momentum, though analysts caution that valuations are becoming stretched. Focus will now shift to upcoming corporate earnings and macroeconomic data to gauge the sustainability of the rally. Related
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
2 days ago
- Barnama
Bursa Lower At Midday, CI Down 0.36 Pct On Tariff Concerns
KUALA LUMPUR, July 22 (Bernama) -- Bursa Malaysia ended the morning session 0.36 per cent lower, tracking mixed global markets, as investor sentiment turned cautious amid renewed trade tensions sparked by the United States' proposal to impose tariffs of 15 to 20 per cent on European Union imports. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.56 points to 1,519.03 from Monday's close of 1,524.59. The benchmark index opened 1.70 points higher at 1,526.29 and moved between 1,518.75 and 1,527.90 throughout the session. Market breadth remained negative, with decliners outpacing gainers 524 to 276. A total of 458 counters were unchanged, 1,221 untraded and seven suspended. Turnover stood at 1.81 billion shares valued at RM982.47 million. Across the region, Hong Kong's Hang Seng Index eased 0.07 per cent to 24,975.46, Singapore's Straits Times Index declined 0.21 per cent to 4,198.13, South Korea's Kospi dropped 1.63 per cent to 3,158.58, and Japan's Nikkei 225 retreated 0.53 per cent to 39,608.87. In a research note, Malacca Securities Sdn Bhd noted that despite ongoing investigations into Sunway Construction and Sunway Bhd over a data centre project, the counters remained supported by strong fundamentals, a robust order book with earnings visibility of up to three years, and the continued expansion of Malaysia's data centre industry. 'Investors may also consider Sarawak-based construction players such as CMSB and Ibraco, which are expected to benefit from the state's infrastructure development,' it said. It added that the government's delay in implementing targeted RON95 fuel subsidies is likely to favour consumer-related stocks, with Mr DIY and 99 SpeedMart as its top picks.
The Star
2 days ago
- The Star
Asia markets slip on renewed tariff tensions; Bangkok appoints new cenbank chief
Emerging Asian equities trended lower on Tuesday as investors took stock of regional governments' trade talks with the U.S., with Thai shares falling due to worries over the independence of the domestic central bank following a key appointment. Thailand's benchmark index fell over 1% after news that Vitai Ratanakorn, a perceived rate-cut advocate, would take the helm at the Bank of Thailand. The Thai baht slipped further, down 0.3% on the day. "Given the weakness of Thailand's economy, there is no doubt that the country needs lower interest rates," said Gareth Leather, senior Asia economist at Capital Economics, but added the appointment may fuel concerns about the bank's independence. Thai equities have risen over 8% since reports of Ratanakorn's appointment, anticipating monetary easing, but have also raised concerns about ongoing tensions between the BoT and the government regarding pressure for rate cuts. "While we have some sympathy with the government's argument that interest rates have been kept too high for too long, over the longer term, there is strong evidence that central bank independence tends to deliver better inflation outcomes," added Leather. Across the region, most stock markets were in the red, with Taiwan, South Korea and Malaysia posting losses between 0.3% and 1.5%. Taiwan equities extended their decline into a second session, giving back some of the 5% gain accumulated earlier this month. Meanwhile, Jakarta's benchmark continued to outperform, rising for a 12th straight session, underpinned by optimism following a recent U.S. trade agreement and domestic policy easing. Singapore's Straits Times Index also retreated from record highs after 14 sessions of fresh peaks. Investors are now focused on the Monetary Authority of Singapore's policy meeting on July 30. In the currency markets, regional units moved in tight ranges as the August 1 deadline loomed for Southeast Asian nations to strike trade deals with the U.S. or face sweeping tariffs. The South Korean won and Thai baht edged lower, while the Malaysian ringgit posted modest gains. The MSCI index of emerging market currencies held steady but remains down roughly 1% from its July 3 record high. "We are in a backdrop of a fragile global environment where events ranging from Japanese upper house elections to U.S. President Donald Trump's tariff threats continue to create much uncertainty and cloud the outlook for markets," said Maybank analysts. Japan's Nikkei closed lower, while the yen softened slightly after weekend election results delivered a setback to the ruling coalition, though the outcome was broadly in line with investor expectations. HIGHLIGHTS ** Indonesian 10-year benchmark yield flat at 6.519% ** Philippines' Marcos to meet Trump hoping to secure trade deal ** Thailand foreign tourist arrivals fall 5.91% annually so far in 2025 - Reuters
New Straits Times
2 days ago
- New Straits Times
Bursa lower at midday on tariff concerns
KUALA LUMPUR: Bursa Malaysia ended the morning session 0.36 per cent lower, tracking mixed global markets, as investor sentiment turned cautious amid renewed trade tensions sparked by the United States' proposal to impose tariffs of 15 to 20 per cent on European Union imports. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.56 points to 1,519.03 from Monday's close of 1,524.59. The benchmark index opened 1.70 points higher at 1,526.29 and moved between 1,518.75 and 1,527.90 throughout the session. Market breadth remained negative, with decliners outpacing gainers 524 to 276. A total of 458 counters were unchanged, 1,221 untraded and seven suspended. Turnover stood at 1.81 billion shares valued at RM982.47 million. Across the region, Hong Kong's Hang Seng Index eased 0.07 per cent to 24,975.46, Singapore's Straits Times Index declined 0.21 per cent to 4,198.13, South Korea's Kospi dropped 1.63 per cent to 3,158.58, and Japan's Nikkei 225 retreated 0.53 per cent to 39,608.87. In a research note, Malacca Securities Sdn Bhd noted that despite ongoing investigations into Sunway Construction and Sunway Bhd over a data centre project, the counters remained supported by strong fundamentals, a robust order book with earnings visibility of up to three years, and the continued expansion of Malaysia's data centre industry. "Investors may also consider Sarawak-based construction players such as CMSB and Ibraco, which are expected to benefit from the state's infrastructure development," it said. It added that the government's delay in implementing targeted RON95 fuel subsidies is likely to favour consumer-related stocks, with Mr DIY and 99 SpeedMart as its top picks. Among the heavyweights, Maybank slipped one sen to RM9.51, Public Bank declined three sen to RM4.27, Tenaga Nasional eased two sen to RM13.76, IHH Healthcare lost four sen to RM6.59, while CIMB Group added four sen to RM6.56. As for the actives, Zetrix shed half-a-sen to 93 sen, NexG gained half-a-sen to 51 sen, Tanco rose one sen to 91.5 sen, Pharmaniaga was flat at 22 sen, while Icents and CPE Technology climbed 3.5 sen each to 41 sen and 31 sen, respectively. On the index board, the FBM Emas Index dropped 43.39 points to 11,418.54, the FBMT 100 Index lost 43.46 points to 11,181.36, and the FBM Emas Shariah Index declined 50.49 points to 11,459.22. The FBM 70 Index retreated 75.60 points to 16,564.28, while the FBM ACE Index eased 29.95 points to 4,607.73. By sector, the Financial Services Index fell 34.60 points to 17,285.80, the Energy Index slipped 1.73 points to 737.77, the Plantation Index declined 13.91 points to 7,407.13, and the Industrial Products and Services Index shed 1.34 points to 154.30.
