STI Pulls Back from Record High on Profit-Taking

2026-08-12 03:13 By Chusnul Chotimah 1 min. read

Singapore's stocks fell 36 points, or 0.6%, to 5,718 in Wednesday morning trade, erasing gains from the previous three sessions, as traders took profits after the index hit a record high a day earlier.

The STI closed at 5,754 on Tuesday, buoyed by strong economic data following an upward revision to Q2 GDP growth to 5.9%.

The broader index tracked a decline on Wall Street overnight, as rising oil prices raised concerns over inflation and expectations of an interest rate hike.

Traders were cautious ahead of the release of US inflation data later today for clues about the Fed's monetary policy decisions at its upcoming meeting.

However, fresh data capped the fall, as Singapore's current account surplus widened in Q2 from the same period in 2025.

Communication, technology services, and finance mainly weighed on the index, with the biggest laggards being Jardine Matheson Holdings (-2.2%), Jardine Cycle & Carriage (-1.0%), OCBC (-0.9%), and Hongkong Land Holdings (-0.8%).



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STI Pulls Back from Record High on Profit-Taking
Singapore's stocks fell 36 points, or 0.6%, to 5,718 in Wednesday morning trade, erasing gains from the previous three sessions, as traders took profits after the index hit a record high a day earlier. The STI closed at 5,754 on Tuesday, buoyed by strong economic data following an upward revision to Q2 GDP growth to 5.9%. The broader index tracked a decline on Wall Street overnight, as rising oil prices raised concerns over inflation and expectations of an interest rate hike. Traders were cautious ahead of the release of US inflation data later today for clues about the Fed's monetary policy decisions at its upcoming meeting. However, fresh data capped the fall, as Singapore's current account surplus widened in Q2 from the same period in 2025. Communication, technology services, and finance mainly weighed on the index, with the biggest laggards being Jardine Matheson Holdings (-2.2%), Jardine Cycle & Carriage (-1.0%), OCBC (-0.9%), and Hongkong Land Holdings (-0.8%).
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Singapore Equities Pull Back from Record High
Singapore's stocks fell 41 points, or 0.7%, to 5,672 in Thursday morning deals, as traders took profit after the index hit a new record high a day earlier, mainly weighed down by the communication services, transportation, retail trade, and financial sectors. The broader index tracked a decline on Wall Street overnight after the Fed maintained interest rates for a fifth consecutive meeting. Traders were cautious ahead of the release of Q2 business confidence figures later today and unemployment data, as well as China's PMI on Friday. However, the attractiveness of dividend-paying stocks and easing oil prices capped the decline despite the escalating conflict in the Middle East. Among the early decliners were Hongkong Land (-2.1%), OCBC (-2.0%), DBS Group Holdings (-0.7%), Venture Corp (-0.7%), and UOB (-0.4%).
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