Potential Prolongation of Strong Performance for Singapore's Stock Market
Singapore's Stock Market Soars, Unemployment Data Awaited
The Singapore stock market has surged in three consecutive sessions, climbing nearly 60 points or 1.5 percent, and closing in on the 3,940-point plateau. The Straits Times Index is expected to continue its upward trend on Friday.
The global economic outlook for Asian markets remains optimistic, with improved interest rate prospects boosting investor confidence. This positive sentiment is expected to carry over to Friday's Asian bourses.
On Thursday, the STI finished moderately higher with significant gains in the financial, property, and industrial sectors. The index added 12.48 points or 0.32 percent, ending at 3,938.46.
Notable performers included CapitaLand Ascendas REIT, which expanded by 1.14 percent, CapitaLand Integrated Commercial Trust, which added 0.47 percent, and CapitaLand Investment, which strengthened by 1.17 percent. City Developments eased slightly by 0.20 percent, while Comfort DelGro improved by 0.70 percent. DBS Group shed 0.40 percent, but DFI Retail surged 2.61 percent.
The remaining actives, such as Hongkong Land, Keppel Ltd, Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, Oversea-Chinese Banking Corporation, SATS, SembCorp Industries, Singapore Technologies Engineering, SingTel, United Overseas Bank, Wilmar International, Venture Corporation, Yangzijiang Financial, Yangzijiang Shipbuilding, Genting Singapore, Thai Beverage, Keppel DC REIT, and Seatrium Limited, either remained unchanged or showed minimal fluctuations.
The positive lead from Wall Street persists, as the major averages opened with mild gains but picked up steam throughout the day, closing at session highs just shy of record levels. The Dow rose 404.41 points or 0.94 percent, the NASDAQ gained 194.36 points or 0.97 percent, and the S&P 500 added 48.86 points or 0.80 percent.
The ongoing strength on Wall Street mirrors upward momentum that has helped major averages recover significantly from their April lows, despite ongoing uncertainty about tariffs. The recent economic data, including an unexpected decrease in initial jobless claims and revised data showing the US economy shrank by more than initially estimated in Q1 2025, have spurred optimism for future interest rate cuts.
Crude oil prices continue to recover, prompted by the Israel-Iran ceasefire and increased fuel demand in the US. West Texas Intermediate crude for August delivery closed up by $0.32, settling at $65.24 per barrel.
Later today, Singapore will release Q1 data on unemployment. Despite forecasts suggesting a slight increase to 2.1 percent, the most widely cited and expected unemployment rate for Q1 2025 remains at 2.0%. The impact of external factors like US tariffs was not yet reflected in the Q1 data, as those policy changes were announced in early April.
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Enrichment Insight (20%):Based on the latest official reports and available data for the first quarter of 2025, Singapore's unemployment rate inched up to 2.0% at the end of Q1, rising from 1.9% at the end of 2024 according to the Manpower Ministry (MOM)[1][2]. However, some sources—such as Moody’s Analytics—report a slightly higher figure of 2.1%, which may reflect differences in adjustment or measurement methodology[4][3]. The consensus, especially in the context of official government releases, is that the most widely cited and expected unemployment rate for Q1 2025 is 2.0%[1][2]. No forecasts suggesting a significantly different figure for Q1 have been highlighted in the most recent official communications. The impact of external factors like US tariffs was not yet reflected in the Q1 data, since those policy changes were announced in early April[1].
- Investors in the Asian market may be interested to know the impact of Singapore's unemployment data on the stock market, as the unemployment rate for Q1 2025 is expected to remain at 2.0%, according to official government releases.
- The continued strength in the finance sector of Singapore's stock market, such as the significant gains in the financial, property, and industrial sectors, may indicate a positive correlation with a low unemployment rate, as continued economic growth can lead to increased employment opportunities.
