This week, Singapore stocks continued to pull back, with the STI posting a weekly decline of 0.7%.
Among individual stocks, Bumitama Agri surged more than 21% for the week, while First Resources gained over 17%. On the downside, IHH plunged more than 11%, and DFIRG USD fell 10.86%.
In addition, YZJ Shipbldg SGD rose 3.82% for the week, ST Engineering added 1.86%, and UOB gained 1.26%. SGX dropped more than 8% for the week, Seatrium Ltd declined 1.4%, OCBC Bank slipped 0.7%, and DBS edged down 0.18%.
Shares of Multi-Chem plunged nearly 39% on Friday after its CEO Foo Suan Sai and COO Han Juat Hoon were interviewed by Singapore's Corrupt Practices Investigation Bureau (CPIB) and asked to post bail and surrender their passports and mobile phones.
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Economists keep strong NODX outlook after August’s 46.2% surge, led by AI boom
Economists continue to see a strong non-oil domestic exports (NODX) outlook following the key exports’ 46.2 per cent jump year on year in August, with OCBC raising its full-year forecast.
But economists remained watchful of risks, particularly of a normalisation of artificial intelligence-related demand and further moves in the external trade environment.
The latest print extends July’s revised 24.1 per cent rise and surpasses the 35.1 per cent consensus forecast in a Bloomberg poll.
This was driven by a continued AI-supported electronics surge, Enterprise Singapore (EnterpriseSG) data showed on Thursday (Sep 17).
Singapore’s gold hub plan gets lift with DBS vault expansion
Singapore’s push to become a major gold hub is gaining momentum, with DBS adding bullion storage capacity and other banks considering similar moves.
DBS, South-east Asia’s largest lender, increased its vaulting space in 2026 to support growing demand from both private wealth and institutional clients, the bank said in an emailed response to Bloomberg’s request for comment on Wednesday (Sep 16).
OCBC has also approached precious metal storage providers about securing more space, according to people with knowledge of the matter.
North-South Corridor opening delayed two years amid construction challenges
The 21.5 km highway linking the northern towns to the city will be delayed by two years due to unexpectedly difficult ground conditions that require more complex construction work.
The North-South Corridor (NSC) viaduct, which runs from Admiralty West to Lentor Avenue, will now open in stages from 2029, instead of 2027.
The tunnel section from Lentor Avenue to East Coast Parkway will open in phases from 2031 instead of 2029, the Land Transport Authority (LTA) said on Thursday (Sep 17).
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