Singapore's Straits Times opens little changed at 4,208.60

Singapore's Straits Times opens little changed at 4,208.60

Title: Singapore's Straits Times Index Opens Little Changed at 4,208.60

Singapore's Straits Times Index (STI) opened slightly higher on July 2, 2025, at 4,208.60, after a mixed week for global markets. The index, which measures the performance of the 30 largest companies listed on the Singapore Exchange, gained 0.27% to close at 4,208.58 on July 9 [1].

The positive sentiment was largely driven by expectations that the Federal Reserve would trim US interest rates in September, a move that could redirect global capital towards Asian markets like Singapore. The Straits Times Index floated between 4,204 and 4,222 before closing at 4,208.58, up by 11.35 points. This uptick was supported by robust retail sales data, which rose 2.3% year-on-year in June, indicating stronger consumer spending [1].

Several companies within the STI reported encouraging results. Charisma Energy Services, for instance, saw its shares jump over 7% after forecasting a robust Q2 and first-half profit. Sunpower Group also experienced a significant gain of over 4%, following news of a hefty 135.2 million yuan subsidy for its Chinese subsidiary. Rex International's shares rose nearly 1% as its Benin-based unit started drilling at the Seme oil field [1].

However, the STI's performance was not without its challenges. The index was influenced by global trade tensions, with the prospect of additional US tariffs causing some market unease. Despite this, local investors remained relatively optimistic, with the STI gaining 0.3% or 9.96 points to 4,057.82 on July 9, despite the broader market's caution [2]. The top gainer on the index was UOL, which climbed 3.4% to $6.61, while SGX was the biggest loser, down 1.2% to $15.41 [2].

Looking ahead, the STI's performance will likely be influenced by both domestic and international factors. Cheaper financing, if interest rates are trimmed, could spur more business activity and consumer spending in Singapore. However, the potential for further trade tensions and the ongoing impact of the COVID-19 pandemic will continue to shape the market's trajectory.

References
[1] https://finimize.com/content/singapore-stocks-edge-up-on-fed-rate-cut-hopes
[2] https://www.straitstimes.com/business/companies-markets/singapore-stocks-extend-rally-sti-up-0-3