Singapore stocks rose slightly this week, with the STI up 0.3%. U.S. court's decision to block President Donald Trump's proposed tariffs once boosted sentiment. While a US appeal court threw a curveball at investor optimism by giving Donald Trump's sweeping tariffs a momentary reprieve.

In terms of individual stocks, SIA Engineering rose 5%, ST Engineering and Sats rose 4%, Yangzijiang Shipbuilding and Mapletree Logistics Trust rose 3%, SGX rose 2%, SIA rose 1%, and DBS rose 0.6%; while NIO fell 8%, Genting Singapore and ComfortDelGro fell 3%, Top Glove, Singtel, and SingPost fell 2%.

Market News

Wages in Singapore Grew 3.2% in 2024, Fewer Firms Planning Increase in 2025

Real wages in Singapore grew 3.2% in 2024 compared to 0.4% in 2023, government data on Wednesday showed.

However, the share of firms planning wage increases going forward has declined to 22% in March compared to 32% in December 2024 because of geopolitical tensions and global trade uncertainties, according to a survey by the manpower ministry.

Seatrium Posts S$21.3 Billion Q1 Net Orders

Seatrium recorded net order book wins amounting to S$21.3 billion as at end-March, comprising 26 projects with delivery dates till 2031.

Of these, nine are scheduled for delivery in 2025, and they have a contract value of S$387 million, the offshore and marine specialist said on Thursday (May 29) in its Q1 business update.

Projects relating to renewables and green or cleaner solutions had a contract value of S$7.1 billion, it said.

Keppel Appoints Ex-DBS CEO Piyush Gupta as Deputy Chairman

Singapore-based manager and asset operator Keppel said on Thursday it has appointed ex-DBS Group CEO Piyush Gupta as its deputy chairman, effective July 1.

Gupta left DBS, Southeast Asia's largest lender by assets, in March this year after serving as CEO for around 15 years.

Before joining DBS, he was Citi's CEO for its Southeast Asia-Pacific division.

CapitaLand Ascendas Reit Raises S$500 Million from Private Placement of 202 Million Shares at S$2.47 Each

CapitaLand Ascendas Real Estate Investment Trust (Clar) has raised S$500 million from a private placement of 202.4 million units, priced at S$2.47 per unit.

The price is a discount of 5.2 per cent of the volume weighted average price (VWAP) of S$2.6059 on Tuesday (May 27), its last traded closing price. Trading in the counter resumes on Thursday.

The issue price also represents a discount of 2.8 per cent to the adjusted VWAP of S$2.5411 per unit, Clar’s manager said on Thursday.

Sembcorp Unit Wins Solar Energy Project to Supply 150 MW of Power in India

Sembcorp Industries’ wholly owned renewables subsidiary, Sembcorp Green Infra, was awarded a solar energy storage hybrid project by SJVN, an Indian state-owned power company.

Sembcorp Green Infra will develop, own and operate the project and supply 150 megawatts (MW) of solar power to SJVN over a 25-year period, subject to the execution of a power purchase agreement (PPA) to be signed with the Indian power company.

It will supply solar power for four hours daily, through a 300 megawatt-hour (MWh) battery energy storage system (Bess), to support peak electricity demand once the project is completed, the group said on Thursday (May 29).

The Week Ahead

Singapore will release retail data on Thursday, June 5.