Market Snapshot

Singapore stocks opened higher on Tuesday. STI rose 0.46%; ThaiBev, Sats Ltd, Keppel up around 1%; DBS up 0.7%; SIA up 0.4%; ST Engineering down 0.6%; Kep Infra Tr down 1.3%.

Stocks in Focus

Singapore Airlines (SIA): The national carrier and its low-cost arm Scoot reported a 3.1 per cent year-on-year increase in passenger traffic in May, which eased from the previous month’s growth, according to its operating results on Monday. This figure is slightly ahead of the 2.8 per cent increase in passenger capacity in the same month a year ago. In particular, the budget carrier’s passenger traffic rose 1.4 per cent year on year, compared with SIA’s 3.5 per cent increase. Shares of SIA closed 1 per cent or S$0.07 lower at S$6.87 before the news.

Q&M Dental Group: Its mandatory unconditional cash offer to acquire all the shares it does not already own in its subsidiary Aoxin Q&M at S$0.0321 apiece closed at 5.30 pm on Monday. At the offer close, the dental services provider owned, controlled or had agreed to acquire an aggregate of 269.3 million Aoxin shares or around 52.7 per cent of all Aoxin shares. The counter ended Monday 1.3 per cent or S$0.005 higher at S$0.39 before the announcement. 

SG Local News

Singapore’s Key Exports Chart Surprise 3.5% Slide in May

The Republic’s key exports declined 3.5 per cent on the year in May after April’s surge, contrary to market expectations, data from Enterprise Singapore showed on Tuesday (Jun 17).

The latest non-oil domestic exports (NODX) print reversed from the preceding month’s 12.4 per cent jump. It came as a shock, against the 7.8 per cent growth anticipated by private-sector economists in a Bloomberg poll.

On a seasonally adjusted monthly basis, NODX contracted 12 per cent, reversing from the preceding month’s 10.4 per cent expansion.

Singapore Home Sales Drop to Five-Month Low on Tariff Fears

Singapore’s new private home sales fell to a five-month low in May, as global tariff tensions weighed on demand in the trade-dependent city-state.

Developer sales dropped for a third consecutive month, with just 311 units bought last month, according to data released by the Urban Redevelopment Authority on Monday.

The outlook for the Southeast Asian financial hub has dimmed, following Donald Trump’s push for tariffs and the city-state’s economy contracting in the first quarter. Developers have grown more cautious, launching no major projects for sale in May — a pause that further weighed on sales figures.