Singapore shares and STI close higher on Monday

Market Summary

The Straits Times Index (STI) closed higher on Monday, April 14, mirroring the trend of most regional indices. The STI rose 1 percent, or 36.38 points, to 3,548.91.

Market Performance

Across the broader market, advancers outnumbered decliners 377 to 181, with over 1.1 billion shares worth S$1.4 billion changing hands. The trio of banks regained some ground, with DBS increasing 1.8 percent or S$0.68 to S$38.81, OCBC rising 1.1 percent or S$0.17 to S$15.18, and UOB gaining 1.4 percent or S$0.45 to S$32.92.

Top Gainers and Losers

The top gainer of the day was SGX, which closed up 2.1 percent or S$0.26 to S$12.95. On the other hand, Sembcorp Industries was the biggest loser, falling 1.3 percent or S$0.08 to S$6.13.

Regional Market Performance

Major indices in the region also closed higher, with the Kospi up 1 percent, the Nikkei 225 up 1.2 percent, Hong Kong’s Hang Seng Index gaining 2.4 percent, and the KLCI climbing 1.8 percent.

Market Analysis

According to Yeap Jun Rong, market strategist at IG, the additional tariff rollbacks announced by the US over the weekend could extend optimism in the market into this week. However, the economic drag from existing tariffs will be a key risk to monitor. While recession risks have eased compared to a month ago, they still remain elevated, with growth forecasts pointing to a sharp slowdown in the US economy in 2025.

Conclusion

The market performed well on Monday, with the STI closing higher and most regional indices also rising. While the tariff rollbacks announced by the US may bring short-term optimism, underlying macro headwinds could bring markets back to a more sobering reality.

Frequently Asked Questions

Q: What was the performance of the Straits Times Index (STI) on Monday?
A: The STI closed higher, rising 1 percent or 36.38 points to 3,548.91.

Q: How many shares changed hands on Monday?
A: Over 1.1 billion shares worth S$1.4 billion changed hands.

Q: Which bank regained ground on Monday?
A: DBS, OCBC, and UOB all regained ground, with DBS increasing 1.8 percent or S$0.68 to S$38.81, OCBC rising 1.1 percent or S$0.17 to S$15.18, and UOB gaining 1.4 percent or S$0.45 to S$32.92.

Q: What is the current outlook for the US economy in 2025?
A: Growth forecasts point to a sharp slowdown in the US economy in 2025, with estimates ranging from 0.1 percent to 0.6 percent, with unemployment expected to rise and inflation to persist.