FX.co ★ Singapore Stocks Hit Fresh Peak

In Singapore, equities experienced a rise of 12 points, translating to a 0.3% increase, settling at 4,220 by midday on Wednesday. This upward trend mirrored gains seen in U.S. stock futures following U.S. President Donald Trump's announcement of new trade agreements with Japan. The Straits Times Index (STI) achieved a record high, marking its 13th consecutive session of upward movement. Looking ahead, traders are focusing on June's inflation figures, with market predictions suggesting slight increases in both the headline and core inflation rates to 0.9% and 0.7%, respectively. These projections align with the target range set by the Monetary Authority of Singapore, fueling optimism for a potential third round of monetary policy easing within the year. Bolstering this positive sentiment, data from the previous week indicated that Singapore’s GDP exceeded expectations in the second quarter, and June’s export performance was the strongest seen in 11 months. The market gains were primarily driven by sectors such as consumer durables, commercial services, and technology stocks. Notable performers included DBS Group with a 1.4% increase, Jardine Cycle & Carriage with a 1.2% rise, and both Capital Investment and City Developments, each advancing by 0.7%.