Singapore’s Straits Times Index (STI) opened positive at 4,182.49, rising 0.21%, with 127 stocks advancing and 103 declining in early trading. Volume stood at 174.14 million shares, valued at S$240.77 million.
Financials such as DBS, OCBC, Singtel, UOB, SIA, Keppel, and Seatrium feature among the top movers by volume and value, reflecting solid activity in domestic banks and telecoms.
Traders remain cautious as attention shifts to the broader economic backdrop. The Monetary Authority of Singapore (MAS) has warned that US-imposed tariffs could inflict a “negative income and demand shock” on the trade-reliant city-state. Though Singapore faces a modest 10% baseline tariff on US imports—lower than its regional peers—export volumes could still suffer from spillover effects.
MAS has downgraded its growth forecast for 2025 to 0–2%, citing trade-related uncertainties and weaker global demand. With trade accounting for more than three times GDP, Singapore’s economy is highly sensitive to such disruptions.
Amid these concerns, market analysts see opportunities for Singapore to benefit as buyers look for tariff‑friendly alternatives. Its exports remain relatively less taxed compared to regional counterparts, potentially making it a more attractive supplier in sectors like electronics and pharmaceuticals.
Despite the headwinds, Maybank Research recently raised its 2025 STI year-end target to 4,185, citing domestic resilience, capital rotation, and momentum from key initiatives like the Johor‑Singapore Special Economic Zone (JS‑SEZ) and AI-led efficiencies in listed firms.
Market watchers will continue monitoring developments in US trade policy, emerging fiscal stimulus, and upcoming economic indicators to assess the outlook for Singapore’s equities.
