Singapore stocks fell slightly this week, with the STI down 0.5%, with investor sentiment buoyed by the US president, Donald Trump's decision to end strikes on Iran.
In terms of individual stocks, SGX and Wilmar International rose 4%; DBS fell 0.9%; UOB fell 1%; OCBC, Genting Singapore fell 2%; Yangzijiang Shipbuilding and ST Engineering fell 3%; Seatrium fell 4%; NIO fell 6%.
Market News
Singapore's Oil Product Inventories Slump to near 13-Year Low
Oil product stocks in Asia's key trading hub Singapore fell to their lowest levels in nearly 13 years, led by a sharp drawdown in residual fuel inventories as the Middle East conflict continues, official data showed on Thursday.
Combined onshore oil product stocks totalled 34.41 million barrels in the week to June 10, the lowest since July 2013, according to Enterprise Singapore data.
Oil inventories in global storage hubs have been shrinking as most Middle Eastern shipments remain curtailed due to the U.S.-Iran war.
Singapore Bank DBS to Offer Tokenised Physical Gold to Retail Customers
DBS Group, Singapore's biggest bank by assets, said on Thursday it will offer tokenised physical gold to retail customers as demand for the precious metal grows and the city-state pushes to become a gold trading hub.
The rollout comes as gold remains in demand as a store of value despite recent price swings. Gold prices touched a record high of $5,600 an ounce this year amid concerns over inflation, geopolitical tensions and market volatility, but spot gold fell to $4,111.95 on Wednesday, its lowest since March 23 and down 27% from that peak.
DBS, which is also Southeast Asia's biggest bank, said in a statement that DBS Physical Gold Tokens will be available through its digibank app in the second half of 2026.
Singapore Announces New Road Map to Improve Standards and Conformance Capabilities, Partnerships
Enterprise Singapore (EnterpriseSG) has launched its Standards and Conformance (S&C) 2035 road map.
It is setting out steps to strengthen the Republic’s S&C capabilities, deepen international partnerships, and enable businesses to compete and grow amid increasing global complexity.
Deputy Prime Minister Gan Kim Yong announced the new road map at a dinner organised by EnterpriseSG on Thursday (Jun 11), where he laid out its three pillars.
CDL, Hong Realty Trump 3 Other Bidders with S$542.4 Million Offer at S$1,865 Psf Ppr for Peck Hay Plot
A tie-up between City Developments Ltd (CDL) and Hong Realty has placed the top bid of S$542.4 million for a 99-year leasehold private housing site in Peck Hay Road, a short walk from Newton MRT interchange station.
The top bid works out to S$1,865.15 per square foot per plot ratio (psf ppr). It is 2.5 per cent higher than the nearly S$1,820 psf ppr fetched for a nearby site in Bukit Timah Road next to the Newton MRT station, at a tender that closed in November last year.
Both sites are part of the Urban Redevelopment Authority’s (URA) plans for a new neighbourhood in Newton unveiled last year.
AI Salaries in Singapore Rising 5 Times Faster Than Overall Wages, Fresh Grads Earn up to S$90k a Year
Big tech firms and global banks may be citing a shift to artificial intelligence (AI) to justify layoffs, but for workers who build these systems in Singapore, the technology is paying off: AI salaries here are rising up to five times faster than overall wages.
Within the past year, pay for AI roles has climbed by about 15 to 25 per cent, with salaries for fresh hires typically starting from between S$70,000 and S$90,000 a year, according to recruitment firm Robert Walters. In comparison, nominal wages of full-time workers rose 4.9 per cent in 2025, down from 5.6 per cent in 2024, Ministry of Manpower figures show.
“AI and data-based roles remain among the most in-demand positions in Singapore this year,” said Kirsty Poltock, country manager at Robert Walters Singapore. “Companies are racing not just to experiment with AI, but to put it to work at scale in their businesses.”
