What changed
2026-08-05 02:56 UTC → 2026-08-05 05:24 UTC ·
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In late July, Late July saw Singapore’s Suntec REIT posted a surge 24.8% jump in its first‑half distribution per unit, buoyed by stronger office and retail earnings and lower financing costs. The broader market edged up modestly, with on strong earnings, while the Straits Times Index gaining (STI) edged up 0.1% as investors stayed cautious amid US‑Iran tensions that lifted oil prices above topped US$100 a barrel. barrel amid US‑Iran tensions. By early August, the index turned lower, slipping 0.3% on 3 August and extending the STI slipped 0.3%, beginning a four‑day losing streak that erased more than 100 points since early July. The decline coincided with that mirrored falling crude prices after US‑Iran talks, a rally in US equities and mixed performances among local banks, showing how Singapore’s market moved from tentative rise under oil‑price‑driven caution to a broader pullback as oil retreated. diplomatic talks eased. A year later, on 3 August 2026, the Straits Times Index index fell another 0.3% to 5,612.28 as crude oil prices plunged sharply. While sharply, while regional peers such as Taiwan and Indonesia rallied on rallied. The next two days reinforced the same price drop, link between oil and Singapore’s banks delivered mixed results, reinforcing the market’s market. By 5 August 2026 Brent fell to US$78.44 and WTI to US$74.70, extending a week‑long 12% slide tied to progress in US‑Iran negotiations mediated by Qatar. The drop lifted Asian equities overall: Indonesia’s Jakarta Composite rose, Taiwan’s market slipped, and U.S. indices rallied. The continued oil‑price decline underscored Singapore’s ongoing sensitivity to global oil‑price swings energy dynamics, keeping the STI under pressure despite occasional mixed regional rebounds. movements.