Singapore’s stock market maintained its upward momentum this week(July 13 to July 17). The STI rose 0.73% for the full week and hit an all-time intraday high of 5,561.42 points on July 15. The FTSE Singapore Index closed 0.6% higher over the week, also notching a record peak of 1,252.02 points on July 15.
In terms of individual stocks, OCBC Bank rose over 4% this week, and DBS rose 2.14%, both hitting record highs during the week; YZJ Shipbldg SGD rose 0.55% for the week. SGX fell 1.49% this week, and ST Engineering fell 4.84%.
Market News
Singapore’s key exports rise 20.7% in June, missing forecasts despite AI-led electronics boom
The Republic’s non-oil domestic exports (NODX) rose 20.7 per cent year on year in June, moderating from the 38.4 per cent increase in May, data from Enterprise Singapore showed on Friday (Jul 17).
It also fell short of private-sector economists’ median forecast of 28.7 per cent year-on-year growth, a Bloomberg poll showed.
Nevertheless, electronics NODX surged 105.1 per cent in June, up from 94.8 per cent growth in May, supported by robust artificial intelligence-related demand.
Growth in this segment was mainly driven by integrated circuits, which expanded 115.4 per cent and added S$1.9 billion.
DBS senior economist Chua Han Teng said such solid gains reflected the global demand for memory chips.
AI-fuelled electronics to keep Singapore exports resilient, but growth becoming increasingly concentrated
Artificial intelligence-driven demand for electronics is expected to keep Singapore’s exports resilient in the second half, although economists warned that growth is becoming increasingly reliant on a single sector as non-electronics exports continue to weaken.
This comes after Singapore’s non-oil domestic exports (NODX) rose 20.7 per cent year on year in June, moderating from the 38.4 per cent increase in May.
SIA Group’s June passenger traffic rises 4.1% on robust travel demand
A combined 3.7 million passengers flew on Singapore Airlines (SIA) and Scoot in June, up 6.3 per cent on the year.
Passenger traffic across the SIA Group also rose 4.1 per cent year on year, underpinned by robust demand for air travel, the airline group said on Wednesday (Jul 15) in a bourse filing of its operating results for June.
Passenger capacity increased 6 per cent from the prior year, resulting in a passenger load factor (PLF) of 87.1 per cent. SIA and Scoot posted monthly PLFs of 86.4 per cent and 89.5 per cent, respectively.
Cargo demand also strengthened during the month.
