Stock Track | Sheng Siong Soars 3.24% Intraday on Defensive Appeal Amid Inflation, Budget Support

Stock Track

05/06

Sheng Siong's stock surged 3.24% during intraday trading on Wednesday, marking a significant upward movement.

The supermarket chain operator is viewed as a defensive investment play amid Singapore's rising inflation and slower economic growth. Analysts note that demand for groceries could be underpinned by a shift in consumer spending patterns toward value-for-money purchases due to ongoing inflationary pressures.

Furthermore, grocery sales are expected to receive support from inflation-relief measures outlined in Singapore's 2026 budget. This positive outlook was reflected in OCBC Group Research's decision to raise the stock's fair value estimate.

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