Singapore's stock market is approaching its historical peak, with the nation's assets being viewed as a safe haven amid global market turbulence. Since the outbreak of the Iran war in February, which triggered a surge in global energy prices, Singapore's equities have experienced the least impact in the Asia-Pacific region. Bolstered by the Singapore dollar's outperformance against other Southeast Asian currencies, the Singapore stock market is poised to become the first major Asian market to reach new highs since the war began. However, the failure of the United States and Iran to reach an agreement over the weekend, coupled with U.S. President Donald Trump's announcement of a comprehensive blockade of the Strait of Hormuz, has set the stage for a new round of global market volatility. The Straits Times Index has remained largely unchanged since the start of the conflict, while the MSCI Asia Index has declined by 4.9%.