The Straits Times Index (STI) surged to a new all-time high of 4,011 points during intraday on Wednesday, July 2, fueled by a wave of investors seeking refuge from escalating geopolitical tensions.
This marks the second occasion the STI has surpassed the 4,000-point level, following its previous milestone of 4,005.18 on March 28, though it later ended that session at 3,972.43.
As of Wednesday’s close, the STI has climbed approximately 5.7% since the start of 2025, nudging ahead of the S&P 500’s year-to-date gain of around 5.4%. Market participants are drawn to Singapore for its reputation as a defensive stronghold in Asia. According to Morgan Stanley, Singapore now ranks just behind India as a top investor preference across the region.
Maybank analysts highlighted in a June 27 note that the STI’s resilience comes amid global market volatility. “The STI has remained robust this year, even as policy uncertainty in the US grows, China’s economic growth slows, and instability in the Middle East intensifies. These factors are likely to continue channeling safe-haven flows into Singapore,” the report stated.
In March, the index briefly crossed the 4,005 mark due to the announcement of higher-than-expected gross domestic product growth in 2024 at 4.4% with the city having a cautiously positive outlook for the market in 2025.
