What changed
2026-08-21 12:29 UTC → 2026-09-03 16:54 UTC ·
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Late July saw In early August 2026, Singapore’s Suntec REIT surge 24.8% on strong earnings, while the Straits Times Index (STI) edged up 0.1% as faced pressure due to plunging oil prices topped US$100 a barrel amid US‑Iran tensions. By early August the STI slipped 0.3%, beginning a four‑day decline that mirrored falling crude after diplomatic talks eased. A year later, on 3 August 2026, the index prices, which fell another 0.3% to 5,612.28 as oil prices plunged sharply, while US$78.44 (Brent) and US$74.70 (WTI) following US-Iran diplomatic progress. While regional peers such as Taiwan and like Indonesia rallied. The next two days reinforced the link between oil and rallied, Singapore’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 remained sensitive to global these energy dynamics, keeping the STI under pressure despite dynamics. Indonesia’s economic performance during this period showed mixed regional movements. Around the same period, Indonesia reported robust signals. While Q2 2026 growth of GDP grew 5.29% year‑on‑year, outpacing forecasts, with household consumption up 5.06% and government spending rising 15.97% due to higher civil‑servant wages and fuel‑subsidy outlays. Poverty fell to 22.93 million, though income inequality widened. The government postponed a planned marketplace tax and granted a three‑year tax exemption for state‑owned enterprise consolidations, while the rupiah strengthened. Subsequent analysis by year-on-year, the Institute for Economic and Social Research at the University of Indonesia suggested (LPEM FEB UI) argued this growth was heavily driven by government spending rather than broad-based strength. They noted that if Specifically, government consumption had followed rose 15.97%, significantly exceeding the historical average of 3.40%, 3.40%. LPEM FEB UI noted that if spending had aligned with historical norms, GDP growth would have been approximately 4.45%. Key drivers of this spending included the Free Nutritious Meal (MBG) program and the Red and White Village Cooperative (KDMP). Additionally, Bank Indonesia reported that the broad money supply (M2) grew by 8.3% year-on-year reached Rp10,371.1 trillion in July 2026, reaching Rp10,371.1 trillion, supported by a 13.0% increase in credit distribution. By July 2026, Indonesia recorded a US$0.12 billion trade surplus, rebounding from deficits in the preceding two months. Although the nation faced an oil and gas deficit due to volatile energy markets, the non-oil and gas surplus remained strong. Total exports for July reached US$26.22 billion, a 6.05% year-on-year increase, while imports rose 27.02% to US$26.09 billion. Manufacturing served as the primary driver for cumulative exports from January to July, totaling US$137.26 billion.