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Singapore stocks hit record highs as ‘Goldilocks’ growth lifts earnings
The Straits Times Index has climbed 23% this year, supported by bank earnings that beat forecasts and a 61% share surge at OCBC.
Singapore shares have outperformed globally over the past month, with investors pointing to a “Goldilocks” mix of robust growth and controlled inflation that is boosting corporate earnings, according to LiveMint Markets citing Bloomberg.
The Straits Times Index has surged 23% to a series of record highs this year after a similar gain in 2025, and it is on track for a fifth consecutive quarter of gains, the longest winning streak in a decade.
Fund managers attribute momentum to Singapore’s combination of growth and defensive qualities, including dividend strength alongside expanding drivers such as tech exports, productivity gains, and structural themes like wealth management and AI-related infrastructure.
Banks have been key contributors to the rally: DBS Group Holdings, Oversea-Chinese Banking Corp, and United Overseas Bank each set all-time highs in recent months, and all three reported second-quarter earnings that beat analysts’ forecasts, with OCBC the standout performer, up 61% this year.