The STI fell 44 points, or 1.7% to end at a two-month low of 2,530 on Thursday, with banking shares among the worst performers after the central bank asked lenders to cap dividends this year at 60% of what they paid out in 2019, aiming to boost lending capacity and increase capital buffers amid the coronavirus crisis. Latest data showed Singapore's bank loans dropped to SGD 680.4 billion in June, the smallest lending since April last year, as both consumer and business loans declined amid the pandemic. Investors also remain concerned over the surging of global COVID-19 infections. On the corporate front, Singapore Airlines stock plunged to its lowest in nearly 22 years after it posted a quarterly net loss and warned passenger capacity may still be less than half of pre-pandemic levels by March 2021. Singapore's markets will be closed on July 31st for a public holiday.
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 August of 2020.
The Singapore Stock Market (STI) is expected to trade at 2486.09 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 2369.38 in 12 months time.