Weekly: STI at All-Time Highs, How US Tech Earnings Week Moves Your SGX Portfolio？

Singapore Market — $Straits Times Index(STI.SI)$ Weekly edges up 0.73% to record as banks and tech SDRs extend rally

$Straits Times Index(STI.SI)$ at All-Time Highs: Is It Too Late to Buy?

US Tech Earnings Week: How It Moves Your SGX Portfolio？

The $Straits Times Index(STI.SI)$ gained 0.73% and closed at a fresh record high of 5,509.43, marking its sixth consecutive weekly advance. The index has now surged 18.58% YoY, with the three local banks and select China tech SDRs continuing to drive the rally.

Sectors: Publishing (+50.00%), Aluminum (+45.24%), and Forest Products (+30.48%) dominated the leaderboard on idiosyncratic catalysts, though these thinly traded sectors had outsized moves on low volume.

The STI's modest 0.73% advance masked continued strength in the banking and tech SDR complex, with $DBS(D05.SI)$ and $OCBC Bank(O39.SI)$ both extending their record levels. The six consecutive weekly gains reflect persistent institutional inflows into Singapore's financial sector, though valuations are looking increasingly stretched (DBS at ~2.4x P/B). Gold ETF outflows signaled a broader risk-on rotation, while the outsized moves in Publishing, Aluminum, and Forest Products were likely low-volume anomalies rather than sustainable trends. Investors should watch for Singapore's Q2 GDP data for confirmation of the economic recovery underpinning the bank rally.

10 Popular Stocks:

• $DBS(D05.SI)$ +2.14% — Singapore's largest bank extended its record-breaking run, with the stock trading near S$71. The bank's 6.1% estimated 2026 yield and quarterly dividend model (60-cent ordinary + 15-cent capital return) continue to attract institutional inflows.

• $OCBC Bank(O39.SI)$ +4.12% — The longest-established Singapore bank rallied on rotation into financials, with its strong CET1 ratio (~15-17%) and potential payout ratio increase to 60% driving re-rating hopes.

• $TLKM ID SDR 1to5(ITKD.SI)$ +9.09% — The digital wealth platform surged on continued momentum in assets under administration and expanding product offerings across its pan-Asian platform. The stock has been a consistent beneficiary of rising retail participation in cross-border investment products.

• $Xiaomi HK SDR 2to1(HXXD.SI)$ +3.76% — The consumer electronics and EV player's Singapore SDR advanced as its SU7 electric vehicle delivery numbers continued to beat monthly targets, and its AIoT ecosystem gained traction across Southeast Asia.

• $IHH(Q0F.SI)$ +5.19% — The Asia-Pacific healthcare operator rallied on defensive positioning and resilient hospital admissions across its Malaysian, Singapore, and Turkish operations.

• $IFAST(AIY.SI)$ +6.21% — The wealth management platform's dual-listed structure attracted buying, with the stock benefiting from HK wealth connect flows and digital advisory growth.

• $PetroCN HK SDR 1to2(HPCD.SI)$ +5.03% — The Singapore-listed HK SDR tracked its Hong Kong parent higher as crude oil prices stabilized near $95–$102/bbl on lingering Middle East supply concerns, lifting the energy major alongside the broader petroleum complex.

• $GLD SG$(GSD.SI)$ -2.49% — The SGD-denominated gold ETF retreated as safe-haven demand eased amid tentative US-Iran de-escalation talks and profit-taking after gold's strong run.

• $GLD US$(O87.SI)$ -2.68% — The world's largest physically-backed gold ETF saw outflows as investors rotated from safe havens into risk assets, with the ETF holding gold custodied by HSBC and JPMorgan.

• $Delta TH SDR 1to1(TDED.SI)$ -4.25% — The Thailand-based power-electronics giant's SDR retreated on profit-taking after a strong run, though its AI data-center power-supply demand narrative remains intact.

This Week's Event Calendar

Key Risks to Monitor