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Singapore's Straits Times Index (STI) declined 0.4% as investors grew concerned about the Iran war and global inflation risks. Market sentiment remains fragile due to Middle East tensions and their impact on energy costs and regional supply chains.
Singapore stocks climbed 1.1% as DBS Group posted first-quarter earnings that beat analyst expectations. The banking sector was buoyed by tighter credit margins and strong loan growth, offsetting some weakness from broader regional equities amid Middle East war concerns. The Straits Times Index remains down 1.7% for the truncated trading week.
Singapore's Straits Times Index fell 0.6 percent as the Middle East conflict enters its third month, closing down 26.72 points at 4,860.97. Investor concerns over energy supply disruptions and economic headwinds weigh on regional equities.
Oil prices surged past $110 per barrel, with Brent crude hitting multi-month highs as the Iran war standoff continues with no resolution in sight. Southeast Asian economies, heavily dependent on oil imports, face mounting cost pressures from the spike.