Singapore Stocks Hit Record High

The STI Index rose 25 points, or 0.5%, to 5,093 in Monday morning trade, extending gains from the previous two sessions and marking a record high, tracking a rally in US futures amid hopes of a US-Iran deal to end the war. Domestic data also lifted sentiment after economic growth was revised higher in Q1 to 6%, while Enterprise Singapore raised its 2026 forecast for non-oil domestic exports (NODX) growth to 3.0%–5.0% amid strong AI-related demand. The fresh data further boosted sentiment, with the current account registering its largest surplus on record in the first quarter of 2026. Electronics, non-energy minerals, commercial services, and technology services mainly drove the index, with notable gains from City Developments (2.6%), Delta Electronics (2.5%), Jardine Matheson (1.7%), SATS (1.2%), and UOB (1.0%).

The STI Index rose 31 points, or 0.6%, to 5,028 around noon, advancing for the second straight session, mainly supported by gains in technology services, finance, energy minerals, communication, and retail trade. The broader index hit its highest level since February 23, amid easing oil prices after President Trump postponed a planned strike on Iran. Local data also lifted sentiment after Monday's report showed Singapore's non-oil domestic exports grew at the fastest pace since February 2012, supported by robust AI-related demand. However, traders remained cautious ahead of the PBOC’s interest rate decision due Wednesday, following disappointing Chinese economic data released on Monday. Among the top performers were City Developments Limited (3.8%), CapitaLand Investment (2.7%), Singapore Airlines (1.7%), Singapore Telecommunications (1.4%), ST Engineering (1.2%), and United Overseas Bank (0.8%).

Singapore’s benchmark index rose 38 points or 0.8% to 4,985 on Wednesday, extending gains for a third session and reaching a three-week peak. Optimism was lifted by April’s forex reserves, which hit a four-year high at SGD 544 billion. Meanwhile, anticipation grew over President Trump’s state visit to China from Wednesday to Friday, his first since 2017, raising hopes for a reset in Sino-U.S. ties. However, upside was capped by expectations of softer tourism spending this year, as Middle East conflicts threaten consumer and business mood. On the policy front, the central bank tightened monetary settings in April, warning that an Iran war-driven energy shock could stoke core inflation, even as Singapore rolled out a support package to cushion the blow. Gains were led by process industries, industrial services, and utilities, offset by weakness in consumer non-durables and retail trade. Notable movers included DBS Group (0.7%), OCBC (1.7%), Singtel (1.1%), and Wilmar Intl. (2.7%).