Singapore Stocks End Lower Ahead Of MAS Policy Review
The benchmark Straits Times Index (STI) slipped 0.28% to finish at 4,261 points, retreating from recent record highs. The modest decline followed three consecutive sessions of gains as profit-taking and macroeconomic uncertainty weighed on sentiment.
Among the notable movers, ComfortDelGro surged 6.5% to S$1.64, making it one of the day's top gainers by volume. City Developments also climbed 2.9%, closing at S$6.38, buoyed by renewed interest in real estate equities amid hopes of sustained recovery in the property sector.
Meanwhile, Singapore Exchange Ltd edged slightly lower to close at S$15.86, trading over 1.3 million shares. The stock hovered between S$15.83 and S$15.99 during the session.
Investor focus now shifts to the MAS semi-annual monetary policy statement due on July 30. Economists remain split on whether the central bank will adjust its exchange rate-based policy stance or hold off to gauge the full impact of earlier tightening. Singapore's recent economic data showed resilient, albeit slowing, growth, adding to the policy uncertainty.
Despite the STI's recent momentum, crossing the 4,200 mark earlier this week, analysts caution that the rally may lack sustainability without new macro or earnings catalysts. Regional economic indicators and upcoming corporate results are expected to provide further direction.
Outlook: With policy uncertainty and mixed global signals, market participants are likely to remain on edge in the coming week. The STI's slight pullback underscores investors' cautious optimism amid ongoing macroeconomic recalibration. Related
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