Singapore equities ended a volatile week on a cautious note as the Straits Times Index (STI) oscillated around the 5,000-point psychological level, reflecting mixed regional sentiment, shifting US rate expectations and ongoing geopolitical uncertainty.
The STI closed at 4,989.08 on May 15, slipping 6.86 points or 0.14% in choppy trade, marking a subdued end to a week that saw alternating gains and losses as investors reacted to global macroeconomic signals and fluctuating risk appetite.
The week began on May 11 with a mildly positive tone, as the STI edged up 0.13% to 4,928.31 in early trade. Sentiment was supported by selective buying in heavyweight counters, although banking stocks were mixed with DBS Group Holdings slipping while OCBC and UOB traded steadier. Market breadth remained cautiously positive, reflecting measured optimism at the start of the week.
Momentum turned slightly weaker on May 12 as the STI slipped 0.18% despite another record finish on Wall Street driven by artificial intelligence-linked stocks. Gains in US semiconductor counters failed to fully translate into regional strength as investors weighed rising oil prices and lingering geopolitical risks tied to US-Iran negotiations and supply chain concerns.
On May 13, Singapore equities opened firmer, with the STI rising 0.64% in early trade to 4,977.58, supported by banking stocks and selective mid-cap buying. UMS Holdings and other technology-linked counters saw modest gains, reflecting continued interest in semiconductor and industrial plays despite broader market caution.
However, sentiment softened again on May 14 as the STI fell 0.33% at the open, tracking mixed US performance and renewed inflation concerns. While Wall Street tech stocks continued to hit record highs, Singapore investors remained cautious amid expectations of prolonged higher US interest rates following stronger-than-expected inflation data.
By May 15, the market extended its cautious tone as the STI slipped further in early trade, with investors closely watching US-China talks and broader regional developments. Trading remained range-bound, with market breadth slightly negative and turnover subdued, highlighting a lack of strong conviction among investors.
Despite the week’s volatility, the STI remained anchored near the 5,000-point level, underscoring its role as a key psychological benchmark for the Singapore market. Defensive positioning and selective accumulation in blue chips helped cushion broader weakness, even as cyclical sectors and external macro risks continued to weigh on sentiment.
