The Singaporean stock market experienced a decline of nearly 1.6% on Friday, ending the week with losses due to profit-taking in major banking stocks, while the 2026 budget also triggered a pullback.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,928.95 and 4,990.10 throughout the day. It ended the session at 4,937.78, down 78.98 points or 1.6% compared to Thursday's close.

According to the city-state Prime Minister, Lawrence Wong, Singapore is slated to post a budget surplus of SG$8.5 billion in 2026, lower than the expected surplus of SG$15.1 a year earlier.

iFast down 4%; OCBC Bank down 3%; UOB, SGX Seatrium, Singtel down around 2%; ST Engineering, DBS down around 1%.

On the corporate front, shares of Koda zoomed over 25% at the close as the furniture designer's attributable profit to owners jumped 181% during the fiscal first half ended Dec. 31, 2025, to $1.2 million from $416,000 a year earlier.

ST Group Food Industries' shares were up over 9% as its attributable profit to equity holders fell by 19% during the fiscal first half ended Dec. 31, 2025 to AU$1.0 million from AU$1.3 million a year earlier.

Meanwhile, Lum Chang's shares sank nearly 10% lower as its net attributable profit to equity holders climbed 108% in the fiscal first half ended Dec. 31, 2025, to SG$7.3 million from SG$3.5 million a year earlier.