SGX Hits Record High As Broad Market Gains Fuel Weekly Rally
Investor sentiment remained upbeat, driven by institutional inflows, solid corporate fundamentals, and renewed interest in local IPOs.
The STI advanced from approximately 4,130 at the start of the week to end July 18 at 4,161.43, notching a 2.8% weekly gain and rising 0.7% in the final trading session. During intraday trade, the index touched a record peak of 4,163.45, underscoring bullish momentum in Singapore equities.
All 11 sectors on the Singapore Exchange (SGX) posted gains over the week, with Industrials (5.1%), Technology (4.7%) and Healthcare (4.6%) leading the charge. The financial sector also contributed to the rally, supported by steady performance from heavyweight banks and conglomerates.
Top blue-chip performers included Jardine Matheson (1.3%), DBS (0.66%), OCBC (1.46%) and UOB (0.60%). Mid- and small-cap stocks also saw heightened activity and outsized gains, with names like Food Empire (6.6%), Seatrium (5.8%), Cortina (6.8%), Banyan Tree (8.7%) and Digilife (8.1%) among the standout movers.
The strong performance was bolstered by ongoing institutional buying, with investors rotating into growth and cyclical names on expectations of improving regional economic activity. Optimism surrounding recent IPOs, particularly the successful listing of NTT DC REIT, also lifted market sentiment.
Looking ahead, the market's broad-based rally and record-setting performance suggest strong underlying momentum, though analysts caution that valuations are becoming stretched. Focus will now shift to upcoming corporate earnings and macroeconomic data to gauge the sustainability of the rally. Related
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