Singapore's Straits Times rises 0.7% to 3,876.16 at close

Singapore's Straits Times rises 0.7% to 3,876.16 at close

The Singapore Straits Times Index (STI) closed at 3,876.16 on Monday, May 7, 2025, marking a 0.7% increase from the previous day's close. The index, which had been on a three-day upward trajectory, reached its highest level since the start of the year, although it remains below the 3,850-point plateau [1].

The rally was driven by a mix of performances from various sectors. CapitaLand Ascendas REIT and CapitaLand Investment led the gains, rising by 0.38% and 1.58% respectively, while DFI Retail Group surged by 5.04%. Conversely, Comfort DelGro and Yangzijiang Shipbuilding experienced significant declines, with Comfort DelGro falling by 3.25% and Yangzijiang Shipbuilding plummeting by 6.22% [1].

The global market sentiment was cautious, with Asian markets expected to react to tariff concerns and sinking oil prices. The European markets were mixed, and the U.S. bourses ended the day in the red. The Dow Jones Industrial Average fell by 98.60 points, the NASDAQ dropped by 133.49 points, and the S&P 500 sank by 36.29 points [1].

The early pullback on Wall Street was attributed to traders cashing in on recent market strength and renewed trade concerns. However, the sell-off subsided following an unexpected increase in U.S. service sector activity in April. Crude oil futures also contributed to market volatility, dropping to a four-year low after OPEC+ agreed to increase oil production [1].

In other news, DBS Bank tweaked its 2025 guidance as its Q1 profit exceeded expectations. The bank reported a 14% increase in net profit for the quarter, driven by strong performance in its wealth and investment banking segments [2].

Meanwhile, Adani Enterprises' share price continued to be closely watched, closing at Rs 2455.50 after a 4.13% decline, with a trading volume of 4,227,194 shares [3].

References:
[1] https://www.nasdaq.com/articles/rally-may-stall-singapore-stock-market-4
[2] https://www.nst.com.my/business/corporate/2025/05/1213129/dbs-tweaks-2025-guidance-q1-profit-beats-expectations
[3] https://economictimes.indiatimes.com/markets/stocks/stock-liveblog/adani-ent-share-price-today-live-updates-07-may-2025/liveblog/120948781.cms