17.07.202503:52:13UTC+00Singapore Stocks Hit New Peak

Equities in Singapore experienced a boost, climbing 14 points, or 0.4%, to reach a new record high of 4,147 by midday on Thursday. This marks the ninth consecutive session of gains for the market. The Straits Times Index (STI) mirrored the positive tone from Wall Street overnight after President Donald Trump refuted rumors about dismissing Fed Chair Jerome Powell. Investor sentiment was further bolstered by robust export figures, with Singapore’s non-oil domestic exports increasing by 13% year-on-year in June 2025, showcasing a sharp recovery from May and far surpassing expectations, representing the strongest growth seen in 11 months. Market participants are now looking ahead to the inflation data for June, set to be released next week, following a drop in May inflation to its lowest point since February 2021. This has raised prospects for a possible third round of monetary policy easing this year. Key contributors to the index's rise included the industrial services, communication, and non-energy minerals sectors. Leading performers in the market included DFI Retail Group Holdings with a gain of 4.3%, Singapore Telecommunications up by 2.5%, Setrium advancing 1.4%, and Hongkong Land Holdings increasing by 1.0%.