FX.co ★ Singapore Stocks Extend Rally, Hit New High

Shares in Singapore rose by 21 points, or 0.5%, reaching 4,252 in early trading on Thursday, marking the 14th consecutive session of gains. This upward movement aligns with the positive performance on Wall Street from the previous day, following trade agreements between the US and EU. The economic resilience has propelled the Straits Times Index (STI) to a new record high. Data released on Wednesday highlighted that June's headline inflation remained at its lowest since February 2021, while core inflation held steady at 0.6%, which was below market expectations and within the Monetary Authority of Singapore's target range of 0.5% to 1.5% for the year. These robust figures build on last week's data showing higher-than-expected GDP growth in the second quarter, alongside the fastest increase in exports in 11 months. Leading the gains were stocks from the tech, transportation, and finance sectors, notably Singapore Technologies Engineering with a 6.8% increase, DFI Retail Group at 2.0%, Jardine Matheson at 1.5%, and DBS Group Holdings at 1.1%.