Singapore shares continue to climb on strong sentiment, tracking regional indexes; STI up 1%
The Straits Times Index was up by 1 per cent or 41.77 points to 4,273.05.
SINGAPORE – Growing optimism that new deals struck with the US will bring stability to the global trading system spurred buying here and across the region on July 24.
The buoyant sentiment lifted the Straits Times Index (STI) by 1 per cent or 41.77 points to 4,273.05.
Trading volumes were solid with 2.4 billion shares worth $1.9 billion changing hands while gainers outnumbered losers 356 to 223.
The banks were among the big winners here with DBS up 2.2 per cent to $49.21 while UOB added 0.3 per cent to $37.36 and OCBC advanced 0.3 per cent to $17.27.
ST Engineering was the STI's top gainer, up 7.1 per cent to $8.86; Hongkong Land was the biggest loser, down 2.2 per cent to US$6.19.
Key regional bourses were mostly on the same page as the STI. South Korea's Kospi rose 0.2 per cent, the Nikkei 225 in Tokyo advanced 1.6 per cent, Hong Kong's Hang Seng added 0.5 per cent and Malaysian shares gained 0.7 per cent.
Australia was the outlier, with the ASX 200 down 0.3 per cent on concerns about delayed interest rate cuts.
Top stories
Swipe. Select. Stay informed.
Asia Live: People evacuated from border regions amid deadly Thailand-Cambodia clash
Asia 11 Thai civilians killed as Thai and Cambodian militaries clash at disputed border: Reports
Singapore Khatib Camp to make way for housing, with its functions moving to Amoy Quee Camp
Singapore First BTO flats in Greater Southern Waterfront, Mount Pleasant to go on sale in October
Singapore Primary 1 registration: 29 schools to conduct ballot in Phase 2B
Asia 'Vampire coach': Coercive blood sampling in school casts spotlight on Taiwan's culture of obedience
Singapore 1,300 names, addresses of traffic offenders published online; police investigating
Singapore Boy, 15, charged after being caught with vapes 5 times; ordered to stay 2 years in S'pore Boys' Home
Wall Street kept powering ahead overnight, driven by the deal made with Japan and promising talks with the European Union (EU).
The S&P 500 climbed 0.8 per cent to a third straight record while the Nasdaq advanced 0.6 per cent to end above 21,000 points for the first time. The Dow closed a fraction shy of the high set in December.
Traders are optimistic that the worst-case tariff scenarios may have been priced too pessimistically, said SPI Asset Management managing partner Stephen Innes. The Japan deal cut tariffs on imports to 15 per cent, rather than the 25 per cent that US President Donald Trump had earlier threatened.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
23 minutes ago
- Straits Times
France's Bonafous becomes first woman skipper to win Fastnet in an IMOCA
Sign up now: Get ST's newsletters delivered to your inbox Elodie Bonafous carved out a slice of offshore racing history on Tuesday, becoming the first woman to win the IMOCA class in the Rolex Fastnet Race after a nail-biting duel that went down to the wire. The 29-year-old French sailor, skippering the freshly launched Association Petits Princes–Queguiner IMOCA with Vendee Globe veteran Yann Elies aboard, crossed the line in Cherbourg just seven minutes ahead of Jeremie Beyou's Charal after more than two days of racing in a record 444-strong fleet. Bonafous held her nerve through a tense final night of drifting conditions and tactical gambles that saw the lead change hands in dramatic fashion. After guiding her crew around Fastnet Rock at the front of the pack, she was briefly overhauled by rivals in the Channel. But the breakthrough moment came east of Guernsey, where Bonafous fought back to reclaim top spot in what turned into a gripping match race with Charal that came down to the final miles. 'We are very happy to be here,' Bonafous said, beaming upon her arrival. 'We are in good shape. It was tight at the end. It was a great victory." Sailing a boat launched only in February, Bonafous blended smarts, steel and speed to outfox some of the IMOCA fleet's biggest names and her victory marked a defining moment in the race's centenary edition, delivering a masterclass in timing and tenacity that will be remembered as a watershed moment for women in offshore sailing. Top stories Swipe. Select. Stay informed. Singapore Grace Fu apologises for Tanjong Katong sinkhole, says road may stay closed for a few more days Singapore Terrorism threat in Singapore remains high, driven by events like Israeli-Palestinian conflict: ISD Singapore Liquidators score victory to recoup over $900 million from alleged scammer Ng Yu Zhi's associates Singapore Man on trial for raping woman who hired him to repair lights in her flat Sport IOC president Kirsty Coventry a 'huge supporter' of Singapore Singapore 7, including child and firefighter, taken to hospital after fire breaks out in Toa Payoh flat Singapore S'pore can and must meaningfully apply tech like AI in a way that creates jobs for locals: PM Wong Singapore Doctor who forged certificates for aesthetic procedures gets 4 months' jail Beyou was sanguine at settling for second place. 'When the wind is steady, I think we are quicker, but when it's light, we are stuck. But it was a lot of fun and it was never over until the finish," he said. "This was a very classic Fastnet race, upwind to the Rock and then the wind coming from behind on the way back. "It was nice to sail with a crew on the IMOCA and to race it at 100% so you could carry out all the strategic tacks and gybes you wanted. It's always intense in an IMOCA race, but a bit more like this.' The IMOCA class (International Monohull Open Class Association) is a fleet of cutting-edge, 60-foot offshore racing yachts designed for competition in some of the world's toughest ocean races. IMOCAs are characterised by their lightweight carbon construction, towering masts and distinctive 'Dali' foils that lift the hull partially out of the water to reduce drag. The biennial Fastnet Race traces a challenging 695-nautical miles course from Cowes on England's Isle of Wight around Ireland's famous Fastnet Rock before finishing in Cherbourg — a test that has challenged sailors' skill and endurance for a century. REUTERS
Business Times
23 minutes ago
- Business Times
Starhill Global Reit H2 NPI flat at S$74.5 million
[SINGAPORE] The manager of (real estate investment trust) posted a net property income (NPI) of S$74.5 million for the second half ended Jun 30, 2025, flat compared to the year-ago period. The manager, in a bourse filing on Tuesday (Jul 29) attributed the lack of growth primarily to higher contributions from Singapore retail properties and net movement in foreign currencies, which were largely offset by loss of contribution from certain divested strata office lots in Wisma Atria and rental arrears provision for its China property. Starhill Global Reit's Singapore retail portfolio comprises interests in Wisma Atria and Ngee Ann City in Orchard Road. It also owns assets in Japan. Excluding the effects of divestment, its H2 FY24/25 NPI would have increased 0.6 per cent year on year. Its revenue inched up 0.7 per cent to S$95.8 million from S$95.2 million previously. Income available for distribution for H2 FY24/25 stood at S$44.5 million, an increase of 4 per cent from S$42.8 million in the year-ago period. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The rise was mainly attributed to higher NPI, lower tax expenses and net finance costs, retention of part of the net divestment proceeds in the current period, as well as the one-off leasing commission in relation to its Toshin master lease renewal in the previous corresponding period. This was partially offset by higher legal and professional fees. The Reit's manager will retain about S$2 million of income available for distribution for H2 FY24/25 for working capital requirements. The Reit also posted a flat distribution per unit (DPU) of S$0.0185 in the second half ended Jun 30, 2025. For the full year, DPU was 0.6 per cent higher at S$0.0365. This represented an annual yield of 7.2 per cent, based on the closing unit price of S$0.51 as at Jun 30, 2025. The distribution reinvestment plan will apply for the H2 FY24/25 distribution, with the issue price of new units announced on or around Aug 6. Unitholders can expect to receive their H2 FY24/25 DPU on Sep 24. Improved operational performance The Reit's full-year NPI rose 0.8 per cent to S$150.2 million, mainly due to higher contributions from Singapore retail properties and Perth properties, as well as the appreciation of the Malaysian ringgit against the Singapore dollar. This was partially offset by loss of contribution from the divestment of the Wisma Atria office strata units, rental arrears provision for China Property, higher operating expenses and the depreciation of Australian dollar against the Singapore dollar. Revenue for the full year was up 1.2 per cent on year to S$192.1 million for FY2024/25, and income available for distribution for the period grew by 3.7 per cent to S$87.8 million. The group's portfolio valuation remained stable at about S$2.8 billion. The figure would have reflected a 0.9 per cent year-on-year increase if not for the divested strata office lots in Wisma Atria in FY24/25. The gains were mainly due to the upward revaluation of its Ngee Ann City property, The Starhill, and Australian properties in June 2025, partially offset by net foreign currency movements. Ho Sing, chief executive officer of Starhill Global Reit's manager, said the partial divestment of its office portfolio enabled the Reit manager to demonstrate the asset's value, strengthen financials and further improve liquidity amid ongoing market uncertainty. 'The improved operational performance for the year was mainly driven by our Singapore portfolio, which achieved full committed occupancy and delivered positive rental reversions,' he added. Notably, at Wisma Atria, shopper traffic climbed 5 per cent year on year, although tenant sales declined 5.2 per cent. Starhill Global Reit owns the majority of units at the mall. The Reit also renewed its current master lease at Ngee Ann City Property with Toshin ahead of expiry. Gearing remained stable at 36 per cent, with a weighted average debt maturity of 3.1 years. Units of Starhill Global Reit closed flat at S$0.55 on Tuesday.
Straits Times
23 minutes ago
- Straits Times
Two men to be charged for allegedly scamming victims by impersonating government officials
Sign up now: Get ST's newsletters delivered to your inbox The men, aged 30 and 37, are believed to be accomplices to a scam syndicate. SINGAPORE - Two men will be charged in court on July 30 for allegedly scamming victims of money by impersonating government officials. The men, aged 30 and 37, are believed to be accomplices to a scam syndicate, said the police on July 29. They were arrested on July 28. The police were first alerted to a case on May 17, in which a victim lost more than $43,000 to the 30-year-old man. The man, who said he was from the Monetary Authority of Singapore, told the victim that she had been implicated in an offence and had to hand the money over for investigative purposes. Preliminary investigations showed that the scammer collected the money on the behalf of a syndicate, and handed it over to an unknown person. On a separate occasion, he had also collected $47,000 in cash from another victim and passed the money to the 37-year-old man. The cash was recovered when the pair was arrested. The police believe that the men are involved in other similar cases. Top stories Swipe. Select. Stay informed. Singapore Grace Fu apologises for Tanjong Katong sinkhole, says road may stay closed for a few more days Singapore Terrorism threat in Singapore remains high, driven by events like Israeli-Palestinian conflict: ISD Singapore Liquidators score victory to recoup over $900 million from alleged scammer Ng Yu Zhi's associates Singapore Man on trial for raping woman who hired him to repair lights in her flat Sport IOC president Kirsty Coventry a 'huge supporter' of Singapore Singapore 7, including child and firefighter, taken to hospital after fire breaks out in Toa Payoh flat Singapore S'pore can and must meaningfully apply tech like AI in a way that creates jobs for locals: PM Wong Singapore Doctor who forged certificates for aesthetic procedures gets 4 months' jail The duo will be charged with the offence of abetment by conspiracy to assist another to retain benefits from criminal conduct. If found guilty, they may be jailed for up to 10 years, fined up to $500,000, or both. The police said they take a serious stance against those involved in scams, and will punish perpetrators according to the law, and reminded the public to never transfer money or any valuables to people not known to them.
