Market Snapshot

On Thursday, Singapore stocks opened higher, with the Straits Times Index (STI) up more than 0.5%.

AEM SGD rose 1.6%, while DBS, JMH USD, and OCBC Bank gained over 1%; UMS added 0.8%. On the downside, Singtel fell 0.7% and UOL Group slipped 0.3%.

SG Local News

Singapore factories keep humming on AI boom as PMI rises to 51.5

The Republic’s factory activity expanded at a slightly faster pace in August, supported by an artificial intelligence-driven semiconductor supercycle, even as the prolonged Middle East crisis kept supply chains and energy costs under pressure. 

The purchasing managers’ index (PMI) edged up 0.1 point from July to 51.5 last month, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Wednesday (Sep 2).

This marked the 13th straight month of growth. A reading above 50 indicates expansion, while one below 50 indicates a decline.

Singapore, Thailand to develop multi-year agenda for successive Asean chairmanships

Singapore and Thailand agreed on Wednesday (Sep 2) to cooperate closely on a multi-year Asean agenda focused on continuity and momentum, as Singapore prepares to chair the bloc in 2027 before handing the gavel over to Thailand.

Singapore Prime Minister Lawrence Wong described both countries as like-minded partners with a shared interest in a strong and united Asean.

“By (working together), we can sustain the momentum on important initiatives, and make greater progress on issues that matter to our region,” he said at a joint press conference at the Leaders’ Retreat.

Singtel leads on-market buyback in August at S$55.6 million for nearly 13 million shares

Singtel led primary-listed companies on the Singapore Exchange (SGX) in on-market buyback spending in August, with S$55.6 million put towards repurchasing about 13 million shares during the month.

This worked out to an average price of S$4.277 a share, SGX data released on Wednesday (Sep 2) showed.

For the first eight months of 2026, the telco accounted for S$948.6 million, or about 45 per cent, of the aggregate buyback consideration on the bourse.

Singtel’s management said during its annual general meeting on Jul 29 that its value realisation share buyback programme will return up to S$2 billion to shareholders over three years.

Falling AI token costs could fuel next leg of Singapore semiconductor rally: analysts

Singapore-listed semiconductor equipment suppliers are set to be the beneficiaries of a possible fresh wave of spending on artificial intelligence infrastructure, with falling token costs spurring wider use of AI models, analysts said.

Silicon Data’s Large Language Model Token Expenditure index – an expenditure-weighted benchmark for the cost of a million tokens – stood at US$0.9665 on Aug 31, less than half of its May peak of US$$2.0651.

The decline could trigger increased usage of AI in the form of AI applications and agentic AI, which would generate more computing demand and improve the economics of the infrastructure underpinning them, DBS Group Research said.