STI Pulls Back from Record High on Profit-Taking

2026-07-16 02:44 By Chusnul Chotimah 1 min. read

Singapore's stocks fell 21 points, or 0.4%, to 5,538 in Thursday morning trade, snapping a ten-session winning streak, as traders took profits after the index hit a new record high a day earlier.

Rising oil prices pressured sentiment, as concerns over inflation raised expectations of further interest rate hikes.

Disappointing data from China also pressured sentiment after Wednesday's figures showed that the country's economy grew at its slowest pace in 3-1/2 years.

Health services led the decline, followed by producer manufacturing, energy minerals, utilities, and consumer non-durables.

However, resilient expectations of non-oil export growth capped the fall, with the market expecting exports to increase 30.2% in June, though growth eased from 38.4% in May, driven by a surge in AI-related demand.

Among the early losers were Venture Corp.

(-1.4%), Yangzijiang Shipbuilding Holdings (-0.4%), United Overseas Bank (-1.4%), Singapore Tech (-1.1%), and Keppel (-1.1%).



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STI Pulls Back from Record High on Profit-Taking
Singapore's stocks fell 21 points, or 0.4%, to 5,538 in Thursday morning trade, snapping a ten-session winning streak, as traders took profits after the index hit a new record high a day earlier. Rising oil prices pressured sentiment, as concerns over inflation raised expectations of further interest rate hikes. Disappointing data from China also pressured sentiment after Wednesday's figures showed that the country's economy grew at its slowest pace in 3-1/2 years. Health services led the decline, followed by producer manufacturing, energy minerals, utilities, and consumer non-durables. However, resilient expectations of non-oil export growth capped the fall, with the market expecting exports to increase 30.2% in June, though growth eased from 38.4% in May, driven by a surge in AI-related demand. Among the early losers were Venture Corp. (-1.4%), Yangzijiang Shipbuilding Holdings (-0.4%), United Overseas Bank (-1.4%), Singapore Tech (-1.1%), and Keppel (-1.1%).
2026-07-16
STI Scales New Peak Above 5,500 Mark
Singapore's stocks rose 83 points, or 1.5%, to 5,553 around noon on Wednesday, marking the tenth consecutive session of gains, tracking a rally on Wall Street overnight as softer inflation eased expectations of a Fed interest rate hike. The broader index hit a new record high, breaking decisively above the 5,500 mark, mainly buoyed by gains in financials, technology services, industrial services, and producer manufacturing. Traders sought to maintain the momentum after the index hit a record high a day earlier, fueled by heavy institutional buying. They also awaited June non-oil domestic exports data due on Friday after exports recorded their strongest growth since 2003 in May, supported by robust AI-related demand. Overseas-Chinese Banking Corp. rose 2.2%, DBS Group Holdings gained 2.1%, Hong Kong Land Holdings advanced 2.0%, and United Overseas Bank climbed 1.6%.
2026-07-15
STI Retreats from Record Peak on Profit-Taking
Singapore's equities dropped 14 points, or 0.3%, to 5,455 around noon on Monday as traders took profits after the index hit a record high in the previous session. The broader market tracked a decline in US futures ahead of a busy corporate earnings week. Rising oil prices also pressured sentiment amid escalating tensions in the Middle East, as inflation concerns fueled expectations of further interest rate hikes. Investors also awaited the release of US inflation data later this week for clues on the Fed's monetary policy decision at its upcoming meeting. They were also looking ahead to a slew of Chinese data, including Q2 GDP, industrial production, and retail sales, due later this week. Healthcare, distribution services, consumer durables, and non-energy minerals stocks led the declines. Among the early losers were UOL Group, which plunged 3.1%, followed by DFI Retail Group (-2.7%), Jardine Cycle & Carriage (-2.1%), and City Developments (-2.1%).
2026-07-13