SGX Weekly Review | STI Rises 0.3%; UOB Rallies 4%; Yangzijiang Shipbuilding Gains 2%; DBS Rises 1%; Seatrium Sinks 8%
Singapore stocks rose this week, with the STI up 0.3%, as investors digested a stronger-than-expected surge in non-oil domestic exports (NODX), even as palm oil counters came under pressure amid scrutiny over haze-causing fires.
In terms of individual stocks, UOB rose 4.1%; Yangzijiang Shipbuilding rose 2.2%; SGX rose 1.3%; DBS rose 1%; SIA fell 0.6%; Singtel fell 1.4%; Wilmar fell 3.1%; Sats, Keppel fell 4%; SIA Engineering fell 6.5%; Seatrium fell 7.5%.
Market News
Singapore's MAS Stands Pat as Easing AI Boom Tames Inflation
Singapore’s central bank unexpectedly left monetary policy unchanged as it expects both the global energy crunch and the artificial-intelligence boom to ease up in 2027.
The Monetary Authority of Singapore, which uses the exchange rate as its main policy tool rather than interest rates, kept the slope, width and center of its policy band unchanged, it said in a statement on Wednesday. It’s the first pause after consecutive rounds of tightening in its April and July meetings.
Only three of 20 economists Singapore MAS Seen Tightening Policy Settings in Oct.: Survey by Bloomberg News predicted the decision, with the majority expecting the MAS to increase the slope of the policy band. A majority of respondents also expected the central bank to retain a hawkish bias. On the same day, Singapore reported its economy grew at its slowest pace in a year in the third quarter.
Singapore Home Sales Recover From Lowest Level Since 2024
Singapore new home sales rose in September from a more than two-year low, as developers resumed releasing projects after a brief pause.
Developers sold 296 new private units last month, according to figures released Thursday by the Urban Redevelopment Authority. That’s up from 153 homes sold in August, the fewest since February 2024, and 255 a year earlier.
The modest bounce reflects a return of new projects after the Hungry Ghost festival period, which ran from mid-August through Sept. 10 and is widely seen as an inauspicious time for property purchases. At a time when interest rates are ticking up, the coming months will provide a clearer indication of whether a yearslong boom that has defied multiple government curbs will regain steam.
Singapore's September Exports Rise 68.4% on Year
Singapore's non-oil domestic exports rose by 68.4% in September from a year earlier, government data showed on Friday, a sixth straight month of growth above 20%.
The expansion was driven mainly by non-electronics, primarily the exports of structures of ships and boats, but electronic exports also surged.
The export figure was higher than the median forecast of 32.2% growth in a Reuters poll.
Singapore Weighs Legal Action as Haze Turns "Very Unhealthy"
Singapore will “keep its options open” on taking legal action against errant companies, as air quality in the city-state significantly deteriorated this week due to choking haze stemming from Indonesian wildfires.
The government is collecting data on the haze as it weighs possible action under its Transboundary Haze Pollution Act, Sustainability and Environment Minister Grace Fu told local media Wednesday evening. The 2014 law targets those responsible for causing or condoning fires when resulting smog keeps the Pollutant Standards Index at unhealthy levels for at least 24 hours.
The index ranged from 127 to 211 across the island as of 11 a.m. local time on Thursday, with the western region recording the highest reading. Air quality is considered “very unhealthy” when levels are 201 and above. A reading above 300 is considered “hazardous” and can trigger school closures.
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