Singapore shares rise on Israel-Iran ceasefire; STI up 0.7%
[SINGAPORE] Local shares ended higher on Tuesday (Jun 24), tracking a rally on Wall Street after the US brokered a ceasefire in the conflict between Israel and Iran.
The benchmark Straits Times Index (STI) gained 0.7 per cent or 25.04 points to 3,904.3. Across the broader market, gainers outnumbered losers 346 to 174, after 1.2 billion securities worth S$1.4 billion changed hands.
Elsewhere in Asia, key indices largely closed higher. The Hang Seng Index rose 2.1 per cent, the Nikkei 225 gained 1.1 per cent, while the Kospi Composite Index was up 3 per cent.
Meanwhile, the FTSE Bursa Malaysia KLCI lost 0.2 per cent.
James Ooi, market strategist at Tiger Brokers, said there were already signs of a relatively muted market impact from the Israel-Iran conflict, and investors now appear to be pricing in a potential extension of the ceasefire.
But investors still need to remain cautious, Ooi said.
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'If the conflict re-escalates, particularly if oil prices spike again, it could reignite inflation fears and trigger renewed market volatility,' he said.
In the meantime, market participants are likely to stay focused on larger macro drivers such as ongoing tariffs, deregulations, tax cuts, and US President Donald Trump's anticipated 'Big Beautiful Bill', he added.
On the STI, Jardine Matheson Holdings was the top gainer, rising 2.3 per cent to US$46.35.
Singtel was the biggest decliner, falling 1.5 per cent to S$3.83.
The local banks were up. DBS gained 1 per cent to S$44.30, OCBC rose 1.4 per cent to S$16.16, while UOB closed 1.6 per cent higher at S$35.32.
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Straits Times
5 hours ago
- Straits Times
Singapore shares rise on Israel-Iran ceasefire and Wall St rally; STI up 0.7%
The benchmark Straits Times Index gained 0.7 per cent or 25.04 points to 3,904.3. PHOTO: LIANHE ZAOBAO Singapore shares rise on Israel-Iran ceasefire and Wall St rally; STI up 0.7% SINGAPORE - Local shares ended higher on June 24, tracking a rally on Wall Street after the US brokered a ceasefire in the conflict between Israel and Iran. The benchmark Straits Times Index (STI) gained 0.7 per cent or 25.04 points to 3,904.3. Across the broader market, gainers outnumbered losers 346 to 174, after 1.2 billion securities worth $1.4 billion changed hands. Elsewhere in Asia, key indexes largely closed higher. The Hang Seng Index rose 2.1 per cent, the Nikkei 225 gained 1.1 per cent and the Kospi was up 3 per cent. Meanwhile, the FTSE Bursa Malaysia KLCI lost 0.2 per cent. Mr James Ooi, market strategist at Tiger Brokers, said there were already signs of a relatively muted market impact from the Israel-Iran conflict, and investors now appear to be pricing in a potential extension of the ceasefire. But investors still need to remain cautious, he said. 'If the conflict re-escalates, particularly if oil prices spike again, it could reignite inflation fears and trigger renewed market volatility,' he said. In the meantime, market participants are likely to stay focused on larger macro drivers such as ongoing tariffs, deregulations, tax cuts, and US President Donald Trump's anticipated 'Big Beautiful Bill', he added. On the STI, Jardine Matheson Holdings was the top gainer, rising 2.3 per cent to US$46.35. Singtel was the biggest decliner, falling 1.5 per cent to $3.83. The local banks were up. DBS Bank gained 1 per cent to $44.30, OCBC Bank rose 1.4 per cent to $16.16 and UOB closed 1.6 per cent higher at $35.32. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
6 hours ago
- Business Times
Market Focus Daily: Tuesday, June 24, 2025
Asian stocks up as Trump announces Iran-Israel ceasefire; Oil settles down 7% overnight after Iran attacks US military base in Qatar; Gold falls more than 1% as ceasefire kicks in. Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day's market movements and news from Singapore and the region. Written and hosted by: Emily Liu (emilyliu@ Produced and edited by: Chai Pei Chieh & Claressa Monteiro Produced by: BT Podcasts, The Business Times, SPH Media --- 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 Follow BT Market Focus and rate us on: Channel: Amazon: Apple Podcasts: Spotify: YouTube Music: Website: Feedback to: btpodcasts@ Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice. Discover more BT podcast series: BT Money Hacks at: BT Correspondents: BT Podcasts: BT Branded Podcasts: BT Lens On:
Business Times
6 hours ago
- Business Times
Singapore shares rise on Israel-Iran ceasefire; STI up 0.7%
[SINGAPORE] Local shares ended higher on Tuesday (Jun 24), tracking a rally on Wall Street after the US brokered a ceasefire in the conflict between Israel and Iran. The benchmark Straits Times Index (STI) gained 0.7 per cent or 25.04 points to 3,904.3. Across the broader market, gainers outnumbered losers 346 to 174, after 1.2 billion securities worth S$1.4 billion changed hands. Elsewhere in Asia, key indices largely closed higher. The Hang Seng Index rose 2.1 per cent, the Nikkei 225 gained 1.1 per cent, while the Kospi Composite Index was up 3 per cent. Meanwhile, the FTSE Bursa Malaysia KLCI lost 0.2 per cent. James Ooi, market strategist at Tiger Brokers, said there were already signs of a relatively muted market impact from the Israel-Iran conflict, and investors now appear to be pricing in a potential extension of the ceasefire. But investors still need to remain cautious, Ooi 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 'If the conflict re-escalates, particularly if oil prices spike again, it could reignite inflation fears and trigger renewed market volatility,' he said. In the meantime, market participants are likely to stay focused on larger macro drivers such as ongoing tariffs, deregulations, tax cuts, and US President Donald Trump's anticipated 'Big Beautiful Bill', he added. On the STI, Jardine Matheson Holdings was the top gainer, rising 2.3 per cent to US$46.35. Singtel was the biggest decliner, falling 1.5 per cent to S$3.83. The local banks were up. DBS gained 1 per cent to S$44.30, OCBC rose 1.4 per cent to S$16.16, while UOB closed 1.6 per cent higher at S$35.32.
