Singapore Stocks Extend Losses, Hit Nearly 4-Week Low

The STI Index fell 31 points, or 0.6%, to 4,892 in morning trade on Monday, declining for the fourth straight session and remaining at its lowest level since March 31, tracking a drop in U.S. futures amid failed U.S.-Iran peace talks. Utilities, non-energy minerals, health technology, and financial stocks led the declines. Traders also awaited the release of March industrial output data later in the day, after a drop in the previous month. Meanwhile, investors are looking ahead to PMI data from China to gauge the outlook for its top trading partner’s economy, as well as U.S. Q1 GDP and March PCE inflation figures later this week, for clues about the Federal Reserve’s monetary policy path. Early losers included Singapore Technologies Engineering (-1.1%), Jardine Matheson (-0.6%), Hongkong Land Holdings (-0.5%), UOB (-0.3%), and OCBC (-0.3%).

The STI Index dropped 35 points, or 0.7%, to 4,908 in morning trade on Friday, falling for a third straight session and tracking declines on Wall Street overnight amid uncertainty over US-Iran ceasefire talks. The broader index lingered at its lowest level since March 30, as market sentiment remained cautious over concerns about oil supply disruptions after US President Trump indicated a naval blockade of Iranian ports. Traders also continued to assess March inflation data, which was the highest in 1½ years, raising expectations that the Monetary Authority of Singapore would further tighten monetary policy. Most sectors traded in the red, including non-energy minerals, technology, and financials. Among early losers were City Developments (-1.3%), SATS (-1.2%), Hongkong Land Holdings (-1.1%), and UOB (-0.9%). For the week, the index is heading for a 1.8% decline, which would mark its first weekly loss in a month, amid rising oil prices driven by the Iran conflict.

The STI Index dropped 46 points, or 0.9%, to 4,956 in Thursday morning trading, extending losses from the previous session and touching its lowest level since March 31, ahead of the release of March inflation data later today. Traders were cautious after the Monetary Authority of Singapore (MAS) tightened monetary policy last week due to a surge in oil prices. The MAS on April 14 tightened its monetary policy for the first time since 2022, amid rising oil and natural gas prices due to the impact of the Iran war. The central bank raised its all-items and core inflation forecasts for 2026 to an average of 1.5% to 2.5%, up from an earlier projection of a 1–2% range. However, a rally on Wall Street overnight capped the decline. Non-energy minerals, technology services, and consumer durables mainly dragged the index. Among early losers were Keppel (-3.4%), Singapore Technologies Engineering (-2.6%), Hongkong Land Holdings (-2.4%), Sembcorp Industries (-1.7%), and Venture Corp (-1.5%).