Singapore stocks ended higher for the week ended Sept 25, with the Straits Times Index (STI) gaining 35.89 points or 0.63% to 5,711.12, recovering from a 0.70% decline in the previous week.
The index began the week with a 0.34% gain on Monday to 5,675.23, led by broad-based buying. DFI Retail Group was the top STI gainer, rising 3.21%, while Yangzijiang Shipbuilding and OCBC Bank also advanced.
The rally gathered pace on Tuesday, with the STI jumping 0.86% to 5,723.76 in its strongest single-day advance since early September. Seatrium led the gains, surging 4.9% to S$2.15, while ST Engineering and SGX Ltd each rose 2.9%. Eighteen of the 30 STI constituents gained, including all three local banks.
The market then gave back some of the gains on Wednesday, with the STI falling 0.24% to 5,709.91 as OCBC and Seatrium came under pressure. City Developments bucked the broader weakness, climbing 3.7% to S$8.42, while Seatrium fell 2.3% to S$2.10.
Selling pressure intensified on Thursday, with the index dropping another 0.46% to 5,683.37 as investors turned cautious ahead of the meeting between US President Donald Trump and Chinese President Xi Jinping in Washington.
First Resources was the standout performer, rising 5% to S$4.66, but losers outnumbered gainers 300 to 231, with about 1.1 billion shares changing hands.
The STI rebounded on Friday, rising 0.49% to 5,711.12 as the three local banks advanced and helped offset concerns over elevated global bond yields and oil prices.
The weekly gain leaves the STI up 21.99% year to date on a total-return basis, despite the pullback seen in the middle of the week.
The market remained sensitive to global interest rates, oil prices and developments in US-China relations, while selective strength in banks, marine engineering and property counters provided support.
