0327 GMT - Singapore's benchmark stock index could reach 6000 in 12 months, fueled by the city-state's strong economic growth, say Macquarie Capital analysts in a note. Singapore's 2Q gross domestic product grew 5.7% from a year earlier based on advance estimates. The analysts estimate around 0.8X-0.9X correlation between the FTSE Straits Times Index constituents' earnings gains and economic growth, with suggests 6%-7% 12-month forward earnings-per-share growth is achievable. Modest interest-rate increases could also benefit the benchmark as financial stocks account for more than half of the market capitalization-weighted STI, they add. Macquarie's 6000 target for the STI implies 14% total market return, including around 4.1% dividend yield. The STI falls 0.4% to 5538.55. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
July 15, 2026 23:27 ET (03:27 GMT)
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