The local market traded for four days during the week, with two sessions up and two down, continuing to hold steady above the 5,000-point mark. Local banks were bolstered by favorable sentiment amid global private capital flows influenced by Middle East conflicts. Global markets remained volatile, affected by ongoing AI-driven technological transformation, mega IPOs, expanded debt financing activities, and persistent uncertainties surrounding the U.S.-Israel-Iran-Lebanon conflict and ceasefire negotiations. Equity markets in the U.S., Japan, South Korea, and Taiwan saw heightened volatility at elevated levels.
For the week, the index opened and closed flat (with a long upper shadow, signaling a potential reversal), ending just 12.10 points higher (+0.24%) than the previous week. A new all-time high was reached midweek, but the market closed flat by week-end, reflecting cautious optimism amid ongoing attempts to break out further.
Year-to-date (YTD) total return stands at +8.69%.
Monday: Public holiday (Vesak Day)—market closed. Over the prior weekend (29–31/May), the annual Shangri-La Dialogue (SLD) concluded, bringing together regional and global defense officials for intense exchanges—verbal sparring substituting for actual combat.
Tuesday: The Straits Times Index (STI) opened sharply higher and closed strong, rising 59.56 points (+1.2%) from the previous day to close at 5,097.42. Trading volume reached 1.9 billion shares, with turnover amounting to SGD 2.9 billion. Advancing stocks numbered 335, while decliners totaled 347. Blue-chip banking stocks—DBS, OCBC, and UOB—led gains, while Wilmar Intl led losses. DBS and peers announced expansions in their private wealth management services for high-net-worth clients, fueling positive earnings expectations in the market.
Wednesday: ...