Singapore's Straits Times rises 0.7% to 3,966.20 at close

Singapore's Straits Times rises 0.7% to 3,966.20 at close

The Singapore stock market experienced a modest recovery on Tuesday, June 18, 2025, as the Straits Times Index (STI) climbed 0.7% to close at 3,966.20. This rebound came after a four-day downturn where the index had dropped nearly 50 points or 1.3% [1].

The STI's performance was buoyed by gains in the financial sector, with CapitaLand Ascendas REIT and DFI Retail Group leading the way, both adding 0.77% [1]. Meanwhile, mixed performances were observed in the property and industrial sectors. Key movers included CapitaLand Integrated Commercial Trust, which sank 0.93%, and City Developments, which advanced 0.99% [1].

The global market sentiment was positive, with Asian markets following the upbeat trend set by the European and U.S. markets. The ceasefire between Israel and Iran further bolstered investor confidence, despite both sides accusing each other of violating the agreement [1].

On Wall Street, the major averages opened solidly higher and remained in the green throughout the trading day, ending near session highs. The Dow jumped 507.24 points or 1.19% to finish at 43,089.02, while the NASDAQ rallied 281.56 points or 1.43% to close at 19,912.53, and the S&P 500 improved 67.01 points or 1.11% to end at 6,092.18 [1].

Despite Federal Reserve Chair Jerome Powell's comments indicating that the central bank would remain on hold despite pressure from Trump to lower interest rates, traders remained optimistic about the easing of tensions in the Middle East [1]. The Conference Board's report on consumer confidence in June also showed an unexpected deterioration, which could impact economic sentiment [1].

In other news, FWD Group, a pan-Asian insurer founded by Richard Li, launched its initial public offering (IPO) in Hong Kong, aiming to raise up to HK$3.99 billion (US$512 million) in gross proceeds [2]. The company is valued at HK$48.3 billion and plans to use the net proceeds to bolster its capital base and enhance financial flexibility.

References:
[1] https://www.nasdaq.com/articles/additional-support-expected-singapore-stock-market-0
[2] https://economictimes.indiatimes.com/news/international/hong-kong/fwd-group-launches-us512-million-hong-kong-ipo-targeting-hk48-3-billion-valuation/articleshow/122081262.cms?from=mdr