27.07.202606:47:18UTC+00STI Rebounds to Record High Around Noon

Singapore shares rose 20 points, or 0.4%, to 5,609 around midday on Monday, erasing early losses, extending the previous session’s advance, and setting a fresh record high. Softer oil prices helped counter the drag from the Monetary Authority of Singapore’s recent policy tightening.

The benchmark index followed gains in US futures, supported by easing tensions in the Middle East after the US paused strikes on Iran, while investors positioned for upcoming earnings from major technology companies. Sentiment, however, remained cautious ahead of this week’s Federal Reserve policy decision and China’s PMI releases.

Fresh domestic data also capped the upside, with Singapore’s manufacturing output expanding at its slowest pace since February. Sector-wise, health technology led the advance, followed by non-energy minerals and technology services, while financials also traded higher.

Notable gainers included Hongkong Land (up 2.2%), Singapore Airlines (2.0%), UOL Group (1.2%), Jardine Cycle & Carriage (1.0%), UOB (0.8%), and Singapore Telecommunications (0.7%).