Singapore stocks rise on Thursday amid mixed regional trading, STI up 0.3%
[SINGAPORE] Local stocks ended higher on Thursday (Jun 26), amid mixed trading in the region.
The benchmark Straits Times Index (STI) rose 0.3 per cent or 12.48 points to 3,938.46. Across the broader market, gainers outnumbered losers 294 to 185, after 1.2 billion securities worth S$1.3 billion changed hands.
Key indices in the region ended mixed. The Hang Seng Index fell 0.6 per cent, and Kospi was down 0.9 per cent.
Meanwhile, the Nikkei 225 gained 1.7 per cent, and the FTSE Bursa Malaysia KLCI rose 0.6 per cent.
Market sentiments have rebounded as global economic conditions modestly improved amid tariff de-escalation, said Barnabas Gan, group chief economist and head of market research at RHB.
If this trend holds, expectations of fewer interest rate cuts, sustained risk-on appetite, and upward revisions to regional gross domestic product growth are reasonable, Gan said.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Sign Up
Sign Up
But a key downside risk is the short time frame before reciprocal tariff suspensions expire, he noted.
'In this context, we maintain a tactical overweight in equities and market weight in fixed income through August, but remain ready to pivot back into safe havens should trade risks re-emerge,' he said.
On the STI, DFI Retail Group was the top gainer, rising 2.6 per cent to US$2.75.
ST Engineering had the biggest decline, losing 1 per cent to S$7.87.
The local banking trio were mixed. OCBC gained 0.2 per cent to S$16.23 and UOB rose 0.4 per cent to S$35.85, while DBS lost 0.4 per cent to S$44.42.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
11 hours ago
- Business Times
Daily Debrief: What Happened Today (Jun 26)
Stories you might have missed Government urges private sector to stop using full, partial NRIC numbers for authentication Authorities say this will better protects citizens from impersonation and having their personal data accessed by others. Johor's billion-ringgit property market braces for higher foreign-buyer tax Foreigners are scrambling to seal property deals in the state to beat the Jul 1 levy hike. Industry players are concerned over the short notice. Singapore's millionaire inflow to halve in 2025: report BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Meanwhile, Thailand emerges as South-east Asia's new safe haven, while China's outflow of affluent individuals slows. Singapore's factory output growth slows to 3.9% in May, but beats estimates Nearly all clusters, including electronics, have recorded increases in production year on year. Chinatown Business Association seeks over S$77,700 in backdated rent from Nanyang Old Coffee for outdoor refreshment area It is also demanding that the cafe remove items that have encroached into the space, and pay legal costs of S$5,500.
Straits Times
12 hours ago
- Straits Times
Singapore stocks rise on June 26 amid mixed regional trading, STI up 0.3%
SINGAPORE – Shares here and elsewhere enjoyed sessions of relative calm on June 26 after a tumultuous period that has roiled global bourses. The outcome for the Straits Times Index (STI) was modest rise of 0.3 per cent or 12.48 points to 3,938.46 with gainers outpacing losers 294 to 185 on trade of 1.2 billion securities worth $1.3 billion. The muted theme was set overnight on Wall Street where investors were growing increasingly confident about the Israel-Iran cease-fire. The key indexes were mixed but are still hovering at near record levels. The S&P 500 was unchanged, the Dow industrials fell 0.2 per cent while the Nasdaq inched up 0.3 per cent. There was more movement in the region. The Hang Seng in Hong Kong fell 0.6 per cent and the Kospi in Seoul declined 0.9 per cent but the Nikkei 225 in Tokyo surged 1.7 per cent while Malaysian shares rose 0.6 per cent. Australia's ASX 200 closed flat as investors dumped technology and property stocks. Mr Barnabas Gan, group chief economist and head of market research at RHB, noted that market sentiment has rebounded as global economic conditions modestly improved amid tariff de-escalation. If this trend holds, it would be reasonable to expect fewer interest rate cuts, a more sustained appetite for risk and upward revisions to regional economic growth, Mr Gan added. But he warned that it is only a short period before reciprocal tariff suspensions expire. 'In this context, we maintain a tactical overweight in equities and market weight in fixed income ... but remain ready to pivot back into safe havens should trade risks re-emerge,' he said. Meanwhile, DFI Retail Group was STI's the top gainer, rising 2.6 per cent to US$2.75, while ST Engineering led the losers, down 1 per cent to $7.87. Local banks were mixed: OCBC gained 0.2 per cent to $16.23; UOB rose 0.4 per cent to $35.85; but DBS lost 0.4 per cent to $44.42. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
12 hours ago
- Business Times
India, US trade talks face roadblocks ahead of tariff deadline
[NEW DELHI] Trade talks between India and the US have hit a roadblock over disagreements on import duties for auto components, steel and farm goods, Indian officials with direct knowledge said, dashing hopes of reaching a deal ahead of President Donald Trump's July 9 deadline to impose reciprocal tariffs. The deadlock marks a sharp shift from earlier optimism, following Trump's claim that New Delhi had proposed a 'no tariffs' agreement for American goods, and officials from both sides suggesting India could be among the first countries to strike a deal on the new US tariffs. India is pushing for a rollback of the proposed 26 per cent reciprocal tariff set to take effect on July 9, along with concessions on existing US tariffs on steel and auto parts. But US negotiators have not yet agreed to the demands, three Indian government officials told Reuters. 'The US side first wants India to commit to deeper import tariff cuts on farm goods like soybeans and corn, cars and alcoholic beverages along with easing of non-tariff barriers,' leading to disagreement between the two sides, one of the sources said. The sources spoke on condition of anonymity, citing the confidentiality of the ongoing discussions. India's commerce ministry, the US Embassy in New Delhi and the US Trade Representative Office did not immediately respond to requests for comment. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up An Indian delegation is expected to travel to Washington before the deadline, although discussions may now focus on a broader agreement rather than a rushed interim deal, a second Indian government source said. Prime Minister Narendra Modi is trying to position India as a key US partner, seeking to attract US firms like Apple , diversifying supply chains away from China. But trade talks have struggled to make headway. 'We are keen, but not desperate to sign a deal before the July 9 deadline,' the first source said, adding that India has offered tariff cuts on almonds, pistachios, walnuts, and was willing to extend preferential treatment for American imports in sectors like energy, autos and defence. 'There hasn't been much progress despite several rounds of talks,' the second source said. Still, the sources did not rule out a last-minute breakthrough if Modi and Trump choose to intervene directly. Despite the impasse, Indian officials stress long-term commitment to the US as a trusted economic partner, while maintaining policy independence. Modi and Trump agreed in February to conclude the first phase of a bilateral trade agreement by autumn 2025 and to expand trade to US$500 billion by 2030, from about US$191 billion in 2024. India is also advancing talks with the European Union for a free trade pact later this year, and recently concluded talks for a FTA with the United Kingdom – moves aimed at hedging against potential US policy shifts under Trump. 'The ball is now in the US court. India is not for any win-lose trade partnership,' said Ram Singh, head of the Indian Institute of Foreign Trade, a government funded think-tank. Even in a worst-case scenario, a third official said, India could absorb the impact of reciprocal tariffs, citing its continued tariff advantage over competitors like Vietnam and China. India's exports to the US rose to US$17.25 billion in April-May, up from US$14.17 billion a year earlier, suggesting the US tariff hikes averaging 10 per cent in early April had a limited impact. REUTERS
