SG Morning Call | Singapore Stocks Open Higher; STI Up Over 0.5%, AEM SGD Rises 1.6%

Market Snapshot

On Thursday, Singapore stocks opened higher, with the Straits Times Index (STI) up more than 0.5%.

$AEM SGD(AWX.SI)$ rose 1.6%, while DBS, JMH USD, and OCBC Bank gained over 1%; UMS added 0.8%. On the downside, Singtel fell 0.7% and UOL Group slipped 0.3%.

SG Local News

Singapore factories keep humming on AI boom as PMI rises to 51.5

The Republic’s factory activity expanded at a slightly faster pace in August, supported by an artificial intelligence-driven semiconductor supercycle, even as the prolonged Middle East crisis kept supply chains and energy costs under pressure. 

The purchasing managers’ index (PMI) edged up 0.1 point from July to 51.5 last month, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Wednesday (Sep 2).

This marked the 13th straight month of growth. A reading above 50 indicates expansion, while one below 50 indicates a decline.

Singapore, Thailand to develop multi-year agenda for successive Asean chairmanships

Singapore and Thailand agreed on Wednesday (Sep 2) to cooperate closely on a multi-year Asean agenda focused on continuity and momentum, as Singapore prepares to chair the bloc in 2027 before handing the gavel over to Thailand.

Singapore Prime Minister Lawrence Wong described both countries as like-minded partners with a shared interest in a strong and united Asean.

“By (working together), we can sustain the momentum on important initiatives, and make greater progress on issues that matter to our region,” he said at a joint press conference at the Leaders’ Retreat.