The STI Index lost 2 points, or 0.1% to end at 2,856 on Friday, extending losses for the third consecutive session amid concerns about AstraZeneca’s coronavirus vaccine efficacy. On the economic data front, latest figures showed the Domestic Supply Price Index in Singapore plunged 9.6% over a year earlier in October, marking the ninth successive decline. On the coronavirus side, Singapore’s Health Ministry reported four new infections on Friday, bringing it to a total of 58,199 cases. Still, for the week the index added 1.5%, its fourth straight gain, boosted by the government’s latest forecasts for the economy, hopes that a coronavirus vaccine will be rolled out soon and the formal start of US President-elect Joe Biden’s transition to power. Singapore’s GDP is now expected to contract between 6.5% and 6% from its prior forecast for a 5% to 7% drop, to then expand between 4% to 6% next year.
Historically, the Singapore Stock Market (STI) reached an all time high of 3906.16 in October of 2007. Singapore Stock Market (STI) - data, forecasts, historical chart - was last updated on November of 2020.
The Singapore Stock Market (STI) is expected to trade at 2816.60 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2684.37 in 12 months time.