Singapore’s benchmark Straits Times Index (STI) edged 10.97 points, or 0.19%, higher to 5,699.93 for the week ended Aug 28, as a sharp Tuesday rebound and Friday recovery largely offset losses in the middle of the week.
The week began with the STI falling 8.50 points, or 0.15%, to 5,680.46 on Aug 24, as weakness in DBS and OCBC outweighed a gain in Wilmar International.
The index then staged its strongest move of the week on Aug 25, rising 55.22 points, or 0.97%, to 5,735.68, led by Seatrium, which gained 3.3%, while OCBC and Singtel also advanced.
However, the rebound failed to hold. The STI fell 14.09 points on Aug 26 and another 37.47 points, or 0.65%, on Aug 27, with broader selling pressure weighing on sentiment. Genting Singapore was among the notable decliners on Thursday, while Venture Corp bucked the trend.
The index recovered 15.81 points, or 0.28%, to 5,699.93 on Aug 28, with Wilmar International among the leading gainers, although investors remained cautious ahead of US Federal Reserve chairman Kevin Warsh’s speech at Jackson Hole.
Overall, the week reflected selective buying rather than a broad-based rally, with Seatrium, Wilmar and Sembcorp Industries providing support while bank weakness and profit-taking capped gains. Global interest-rate expectations, bond yields, technology volatility and geopolitical uncertainty remained key risks.
The STI’s modest weekly gain also kept the benchmark near elevated levels, but its failure to sustain the 5,735.68 peak suggests investors remain cautious after the market’s earlier rally.
