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Straits Times
16-07-2025
- Business
- Straits Times
Singapore shares rise to new high; STI up 0.3%
Find out what's new on ST website and app. The STI's top gainer was City Developments, up 6.3 per cent to $5.92. SINGAPORE – Concerns about US inflation failed to deter local investors from pushing the bourse to a new high and its third straight day of gains this week. The optimism left the benchmark Straits Times Index (STI) up 0.3 per cent or 12.43 points to 4,132.25 on July 16 – just shy of its intra-day peak of 4,132.41, with gainers outpacing losers 384 to 178 on trade of 1.5 billion securities worth $1.3 billion. The STI's top gainer was City Developments, up 6.3 per cent to $5.92. The property developer's shares surged after it announced that director Philip Yeo, who had backed executive chairman Kwek Leng Beng in his boardroom battle against his son, would be retiring. The biggest decliner was CapitaLand Integrated Commercial Trust, which fell 1.4 per cent to $2.19. The trust was also the most actively traded counter by volume, with 27.3 million units traded. Regional bourses mostly ended in the red, amid those signs of rising US inflation. Japan's Nikkei 225 was down 0.04 per cent, South Korea's Kospi fell 0.9 per cent, the ASX 200 in Sydney retreated 0.8 per cent for its worst day since May 5 and Hong Kong's Hang Seng dipped 0.3 per cent. The losses largely mirrored Wall Street overnight after reports showing inflation picked up in June, a potential sign that tariffs are having an impact. Top stories Swipe. Select. Stay informed. Singapore Over 600 Telegram groups in Singapore selling, advertising vapes removed by HSA Singapore Strong argument for cockpit video recording, says Iata chief in wake of Air India crash report Singapore Here comes the sun: Less rain, more warm days in second half of July Asia Former deputy minister seen as surprise front runner for Malaysia's next Chief Justice: Sources Singapore Baby died after mum took abortion pills and gave birth in toilet; coroner records an open verdict Business Tycoon Robert Kuok's daughter Kuok Hui Kwong appointed CEO of Shangri-La Asia Singapore Acute psychiatry services to be expanded across all healthcare clusters: MOH Singapore New network links Home Team psychologists, mental health bodies to boost emergency response The S&P 500 edged 0.4 per cent, the Dow fell 1 per cent while the Nasdaq rose 0.18 per cent to a fresh high. Mr Alvin Liew, senior economist at UOB, said that the higher consumer price index figures in the US for June show 'clearer marks of tariff-induced price increases'. However, he expects the Federal Reserve to remain patient in cutting interest rates amid uncertainty over the impact of US tariffs.
Business Times
25-06-2025
- Business
- Business Times
Singapore shares rise, tracking regional gains; STI up 0.6%
[SINGAPORE] Shares on the Singapore bourse closed higher on Wednesday (Jun 25), in line with gains across regional markets as the ceasefire between Iran and Israel held firm. The benchmark Straits Times Index (STI) rose 0.6 per cent or 21.68 points to 3,925.98. Across the broader market, advancers outnumbered decliners 333 to 170, after 1.5 billion securities worth S$1.5 billion were traded. The top gainer on the STI was the Singapore Exchange , which climbed 3.7 per cent or S$0.51 to S$14.41. The biggest decliner was Yangzijiang Shipbuilding . The counter fell 1.4 per cent or S$0.03 to S$2.19. CapitaLand Integrated Commercial Trust was the most actively traded blue-chip counter by volume, with 90.5 million units worth S$193 million changing hands. The counter closed at S$2.15, up 0.5 per cent or S$0.01. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Regional bourses were mostly in the black on Wednesday. Japan's Nikkei 225 was up 0.4 per cent, Hong Kong's Hang Seng Index gained 1.2 per cent and South Korea's Kospi rose 0.2 per cent. In a note on Wednesday, Nigel Green, the chief executive of global financial advisory company deVere Group, said that global markets were 'dangerously relaxed' over the wider global risk of the conflict between Iran and Israel. For instance, equity markets are not showing the 'defensive rotation' expected of investors when there are many risk indicators. He called on investors to adjust their allocations to provide more downside protection and global diversification.
Business Times
23-06-2025
- Business
- Business Times
Singapore, Asia-Pacific markets fall after US strikes on Iran; oil prices surge, dollar strengthens
[SINGAPORE] Asia-Pacific markets declined in early trade on Monday (Jun 23) morning, as oil prices surged and the greenback reacted, after the US launched strikes against three nuclear facilities in Iran over the weekend. Singapore shares opened Monday lower, with the Straits Times Index (STI) down 0.9 per cent or 35.64 points at 3,847.79 as at 9.01 am. Across the broader market, losers outnumbered gainers 96 to 25 after around 80 million securities worth S$140.2 million changed hands. Thai Beverage was the most actively traded counter by volume. It was down 2.3 per cent or S$0.01 at S$0.435, with some 13.6 million shares changing hands. Other actively traded counters included CapitaLand Integrated Commercial Trust , which was down 0.9 per cent or S$0.02 at S$2.15 and multinational oil exploration and production company Rex International which was up 4.6 per cent or S$0.01 at S$0.23. The trio of Singapore banks were trading lower at open. DBS declined 1.6 per cent per cent or S$0.69 to S$43.19. OCBC slid 0.5 per cent or S$0.08 to S$15.82 and UOB fell 1 per cent or S$0.34 to S$34.55. Japan's Nikkei 225 tumbled 0.69 per cent while South Korea's Kospi fell over 1 per cent. Australia's ASX was down around 0.3 per cent. Oil prices surged in early trade on Monday, with Brent and the main US crude contract WTI both climbing more than four per cent to hit their highest price since January before paring gains. Brent last jumped 2.66 per cent to $79.06 per barrel after 9 am Singapore time and WTI was up 2.75 per cent at US$75.87. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Crude prices had already spiked last week after Israel attacked Iran. Brent has risen 13 per cent since the conflict began on Jun 3, while WTI has gained around 10 per cent, according to Reuters data on Monday. The US dollar index rose nearly 0.4 per cent, strengthening slightly around 0.17 per cent to the Singapore dollar at around S$1.2895, after 9am Singapore time. On Saturday, US President Donald Trump announced strikes against three Iranian nuclear facilities, boosting Israel's efforts to destroy Iran's nuclear programme. This followed more than a week of Israeli air attacks on Iran's nuclear and military facilities and US attempts to persuade Iran to reach a deal to dismantle its nuclear programme. In response, Iran on Sunday threatened US bases in the Middle East, intensifying concern of a deepening of conflict in the region. An adviser to Iran's supreme leader Ayatollah Ali Khamenei Ali said bases used by US forces could be attacked in retaliation given that the US 'has attacked the heart of the Islamic world and must await irreparable consequences'. He warned that countries in the region or elsewhere used by US forces to strike Iran would be considered legitimate targets for Iran's armed forces. Please check back for more updates.
Straits Times
17-06-2025
- Business
- Straits Times
Singapore shares rise even as exports in May fall; STI up 0.6%
Across the broader market, advancers edged out decliners 275 to 210, after 1.2 billion securities worth $993.8 million were traded. PHOTO: ST FILE Singapore shares rise even as exports in May fall; STI up 0.6% SINGAPORE - Shares on the local bourse ended higher on Tuesday (Jun 17), even as Singapore's key exports declined 3.5 per cent year on year in May, reversing sharply from April's surge. The benchmark Straits Times Index (STI) rose 0.6 per cent or 22.18 points to close at 3,930.64. Across the broader market, advancers edged out decliners 275 to 210, after 1.2 billion securities worth $993.8 million were traded. The top gainer on the STI was CapitaLand Integrated Commercial Trust (CICT), which rose 1.9 per cent or $0.04 to $2.17. Telco giant Singtel was the biggest decliner, slipping 0.5 per cent or $0.02 to $3.93. The trio of local banks finished in positive territory. DBS rose 0.7 per cent or $0.30 to S$44.46, UOB edged up 0.4 per cent or $0.13 to $34.95, and OCBC climbed 0.4 per cent or $0.07 to $16.09. Elsewhere in Asia, markets ended on a mixed note. Hong Kong's Hang Seng Index slipped 0.3 per cent, Malaysia's FTSE Bursa Malaysia KLCI declined 0.6 per cent, and Australia's ASX 200 edged down 0.1 per cent. In contrast, South Korea's Kospi inched up 0.1 per cent, while Japan's Nikkei 225 gained 0.6 per cent. In Singapore, data released on Tuesday showed that its latest non-oil domestic exports (Nodx) print reversed from the preceding month's 12.4 per cent jump and disappointed market expectations of 7.8 per cent growth. Exports to most major trading partners declined, with both electronics and non-electronics shipments weakening. The data suggests some softening in earlier front-loading activity, noted UOB's global economics and markets research team in a report. The bank's associate economist Jester Koh wrote: 'The sluggish Nodx outturn in May did not come as a huge surprise given that there was some evidence that export activity to trading partners were slowing, such as the month-on-month contraction in South Korea's and Taiwan's imports from Singapore for the month of May.' In light of the weaker showing, UOB adjusted its full-year 2025 Nodx forecast downward to a range of 1 to 3 per cent growth, from the earlier projection of 2 to 4 per cent growth, to reflect recent developments. The bank noted reduced confidence in its projections, citing a fluid situation and heightened market attention on the potential impact of 'new' unilateral tariff rates. Koh also cautioned that the payback from earlier front-loading could result in 'a more protracted downturn in trade activity' in the second half of 2025 while 'escalating geopolitical tensions in the Middle East could further dampen business and consumer confidence'. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
17-06-2025
- Business
- Business Times
Singapore shares rise even as exports in May fall; STI up 0.6%
[SINGAPORE] Shares on the local bourse ended higher on Tuesday (Jun 17), even as Singapore's key exports declined 3.5 per cent year on year in May, reversing sharply from April's surge. The benchmark Straits Times Index (STI) rose 0.6 per cent or 22.18 points to close at 3,930.64. Across the broader market, advancers edged out decliners 275 to 210, after 1.2 billion securities worth S$993.8 million were traded. The top gainer on the STI was CapitaLand Integrated Commercial Trust (CICT) , which rose 1.9 per cent or S$0.04 to S$2.17. Telco giant Singtel was the biggest decliner, slipping 0.5 per cent or S$0.02 to S$3.93. The trio of local banks finished in positive territory. DBS rose 0.7 per cent or S$0.30 to S$44.46, UOB edged up 0.4 per cent or S$0.13 to S$34.95, and OCBC climbed 0.4 per cent or S$0.07 to S$16.09. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Elsewhere in Asia, markets ended on a mixed note. Hong Kong's Hang Seng Index slipped 0.3 per cent, Malaysia's FTSE Bursa Malaysia KLCI declined 0.6 per cent, and Australia's ASX 200 edged down 0.1 per cent. In contrast, South Korea's Kospi inched up 0.1 per cent, while Japan's Nikkei 225 gained 0.6 per cent. In Singapore, data released on Tuesday showed that its latest non-oil domestic exports (NODX) print reversed from the preceding month's 12.4 per cent jump and disappointed market expectations of 7.8 per cent growth. Exports to most major trading partners declined, with both electronics and non-electronics shipments weakening. The data suggests some softening in earlier front-loading activity, noted UOB's global economics and markets research team in a report. The bank's associate economist Jester Koh wrote: 'The sluggish NODX outturn in May did not come as a huge surprise given that there was some evidence that export activity to trading partners were slowing, such as the month-on-month contraction in South Korea's and Taiwan's imports from Singapore for the month of May.' In light of the weaker showing, UOB adjusted its full-year 2025 NODX forecast downward to a range of 1 to 3 per cent growth, from the earlier projection of 2 to 4 per cent growth, to reflect recent developments. The bank noted reduced confidence in its projections, citing a fluid situation and heightened market attention on the potential impact of 'new' unilateral tariff rates. Koh also cautioned that the payback from earlier front-loading could result in 'a more protracted downturn in trade activity' in the second half of 2025 while 'escalating geopolitical tensions in the Middle East could further dampen business and consumer confidence'.
