Singapore stocks rose 0.9% this week to topped 4,300 points, hitting new highs multiple times, amid expectations that weak US job market data will cement a September interest rate cut by the Federal Reserve.

In terms of individual stocks, UOB-Kay Hian rose 12%; Riverstone rose 8%; Yangzijiang Shipbuilding rose 7%; Genting Singapore rose 6%; BRC Asia rose 5%; UOB and Singtel rose 2%; OCBC rose 0.7%; DBS rose 0.6%; while NIO fell 6%; SGX and SingPost fell 2%; Keppel fell 1%.

Market News

Singapore MAS Survey Shows Economists Lift GDP Forecast, See Steady Policy

Economists have raised their forecasts for Singapore's growth this year and expect monetary policy to be held steady at a review next month, a survey of forecasters by the Monetary Authority of Singapore showed on Wednesday.

Geopolitical tensions were cited as a top downside risk for the city-state, while an easing of trade tensions and a sustained tech cycle upturn were seen as potential upside risks, the responses from 20 economists for the September quarter survey found.

The median forecast for growth this year was raised to 2.4% from 1.7% in the June quarter survey. In August, the government raised its forecast range for 2025 growth to 1.5% to 2.5% due to a better-than-expected first half performance.

Economists expected year-on-year growth of 0.9% in the third quarter, the survey found.

Singapore Retail Sales Rise 4.8% in July, Surpassing Expectations

Retail sales grew 4.8 per cent year on year in July, picking up from June’s revised 2.4 per cent increase, data from the Department of Statistics showed on Friday (Sep 5).

The latest print was more than double the median estimate of 2.1 per cent growth from a Bloomberg poll of private-sector economists.

Growth was broad-based, as the majority of industries tracked recorded rises.

Singapore Factory Activity Inches Back to "Limbo State" While Electronics PMI Picks up Pace

Overall factory activity in the city-state inched back to neutral in August, in parallel with the general improvement seen in the region.

Data from the Singapore Institute of Purchasing and Materials Management on Tuesday (Sep 2) showed that Singapore’s purchasing managers’ index (PMI) crawled up 0.1 point to 50 in August, after dipping briefly the month before.

A reading above 50 indicates expansion.

DBS's Bid for Alliance Bank Stake Stalls on Regulatory Delay, Bloomberg News Reports

DBS Group's effort to acquire a stake in Alliance Bank Malaysia has hit a snag as Singapore's largest bank awaits regulatory approval to begin discussions, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Vertical Theme, the largest shareholder in DBS and Alliance Bank, filed separate applications with Malaysia's central bank about eight months ago but have yet to receive a response, Bloomberg News reported, adding that local rules require them to seek approval to start discussions.

Reuters reported in November that DBS was exploring the purchase of Singapore state investor Temasek's 29.1% stake in Alliance Bank Malaysia, a slice which was valued at around $460 million.