Singapore stocks closed higher on May 12, with the Straits Times Index (STI) rising 0.1% or 3.23 points to 4,946 points [1, 2]. Seatrium led the gainers on the blue-chip index, gaining 5.4% or 12 cents to S$2.35 [1, 2]. Frasers Logistics & Commercial Trust was the worst performer among STI members, falling 1.5% or 1.5 cents to 97 cents [1, 2].
The three main local banks ended mixed: DBS rose 0.6% to S$59.10, UOB gained 0.3% to S$37.11, while OCBC declined 0.8% to S$22.33 [1, 2]. Within the iEdge Singapore Next 50 Index, Riverstone stood out with a 12.8% rise or 10.5 cents to 92.5 cents, while UOB Kay Hian dropped 2.6% or 11 cents to S$4.19 [1, 2].
Trading volume was solid with 2.3 billion securities changing hands, valued at S$2.2 billion [1, 2]. Overall, gainers outnumbered losers 316 to 267 across the broader market [1, 2].
Regional markets showed mixed results on May 12. Japan’s Nikkei rose 0.5%, Malaysia’s KLCI gained 0.3%, but South Korea’s Kospi fell 2.3% and Hong Kong’s Hang Seng slipped 0.2% [1, 2].
The BlackRock Investment Institute noted markets are factoring in AI-driven growth and supply shock risks in the Middle East. It said US inflation data due this week will influence yield and rate expectations. "We see no disconnect between record US equity prices and elevated oil, commodities and yields," the institute said. "US inflation data this week will test still-firm price pressures, with implications for yields as markets assess the risk of further rate increases" [1].
The next key event for investors will be the release of US inflation figures later this week, which may affect market direction and interest rate expectations.
