The STI slipped 0.95% last week to 5,688.96, but the pullback looks more like consolidation than a breakdown. Gold-related names led the market, while Sembcorp, shipbuilders and selected Chinese SDRs remained resilient.
The bigger story is Singapore’s economic backdrop. Q2 GDP growth was revised to 5.9% YoY, while MTI raised its 2026 growth forecast to 4.5%-5.5%, supported by strong AI-related investment and manufacturing demand.
This week, investors should watch inflation and industrial data closely. July headline CPI came in at 2.2%, while core inflation was 2.0%, both below expectations—potentially easing pressure on monetary policy.
For stocks, the key themes remain banks, gold, utilities and AI-linked infrastructure. The STI may stay volatile, but as long as 5,650 holds, the medium-term bullish structure remains intact.
@SGX_Stars [财迷]
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- fluffix·15:32GDP and CPI both look supportive here. AI capex plus manufacturing demand gives banks and infrastructure more legs than the index noise doesLikeReport