Singapore shares hit a record high this week as investors continued to bet on Singapore’s efforts to revive the local market. The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ended 0.86% higher to 4,344.24 points compared to last week.

In terms of individual stocks, Golden Agri-Res, CMS, Alibaba HK SDR 5to1 rose around 14%; YZJ Fin Hldg, Yanlord Land rose over 10%; Top Glove down over 3%; UOB Kay Hian, Bumitama Agri down about 2%.

DBS Reaches New Peak of S$53.24, up Nearly 2% for the Week

On Thursday, DBS shares soared to a new record high, jumping S$0.51 to S$53.24. Shares registered a weekly gain of 1.93%.

According to Charu Chanana, chief investment strategist at Saxo, "Income-seeking flows continue to bolster DBS, thanks to its visible, substantial dividends and robust liquidity. However, as policy rates decline, the sustainability of this advantage is uncertain since potential net interest margin compression might limit the dividend growth of Singaporean banks."

Chanana noted that beneficiaries of rate cuts, such as real estate investment trusts, are starting to appear more attractive, with reduced funding costs paving the way for distribution increases.

Yangzijiang Financial Soars over 10% This Week, Hits Record High

Shares of Yangzijiang Financial surged over 10% this week and hit an all-time high on Friday (Sep 12). The counter eventually ended Friday at S$1.16, up by 7.4 per cent or S$0.08, with around 47.8 million shares changing hands.

Yangzijiang Financial will be added to the Straits Times Index’s reserve list from Sep 22. This list comprises the five highest-ranking non-constituents of the index by market capitalisation.

The company in August recorded a 28 per cent rise in its first-half net profit, which stood at S$137.7 million, compared with S$107.4 million in the year-ago period.

Frasers Property Jumps 4% This Week After Announcing Strategic Leadership Update in Thailand

Frasers Property’s emerging markets chief executive Lim Hua Tiong will take on the additional role of helming its Thailand unit from Oct 1. Shares of Frasers Property gained nearly 4% for the week.

He will replace Thanapol Sirithanachai, who will step down from the role, but will continue to serve on the board of Frasers Property Thailand.

Sirithanachai, also known as “Woody”, was appointed CEO of Frasers Property Thailand in June 2020. Prior to joining the group, he was the president of Thai property development company Golden Land Property Development.

SGX to Launch Index That Tracks Listcos Beyond STI: Chee Hong Tat

The Singapore Exchange (SGX) will be launching an index that tracks listed companies that are not constituents of the Straits Times Index (STI), as part of efforts to showcase its broader equity market, said Monetary Authority of Singapore (MAS) deputy chairman Chee Hong Tat on Friday (Sep 12).

“This new index will provide a useful lens to track how the next tier of large and liquid companies are evolving – whether through business-model transformation, improved governance or stronger capital-management initiatives,” said Chee, who is also minister for national development. He is also the chair of the equities review group set up by the central bank in August last year to look into strengthening Singapore’s equities market.

Singapore’s Tax Revenue up 10.7% at S$88.9 Billion in FY2025

The Inland Revenue Authority of Singapore (Iras) collected S$88.9 billion in tax revenue for the financial year of 2025. The 10.7 per cent increase came on the back of strong economic growth and consumer spending.

Corporate tax takings rose 6.7 per cent to S$30.9 billion and remained the largest contributor.

Goods and services tax was the second-largest contributor at S$20 billion, or 22.6 per cent of the total, up from S$16.6 billion in the year-ago period. The jump was driven by a rise in consumer spending and the change in the GST rate from 8 per cent to 9 per cent at the start of 2024.