The Straits Times Index (STI) climbed to a new peak of 4,019.57 points just before the market closed on 3 July, marking the second consecutive session in which the benchmark set fresh highs.
Building on the momentum from 2 July—when it closed above the 4,000-point threshold for the first time at 4,010.77—the STI remained firmly above this psychological level throughout Wednesday’s trading. It reached an intraday low of 4,001.84 around 2pm before rallying further in the late session. The index ended the day at 4,019.57, up 0.22% from its opening level of 4,009.33.
Among the 30 constituent stocks, DFI Retail Group led gains with a 4.98% increase. City Developments and Hongkong Land followed, advancing by 2.23% and 1.74% respectively. Conversely, UOL Group—previously the top performer—fell 1.19%. Keppel DC REIT and Singtel also registered declines of 0.86% and 0.77% respectively.
The STI began the week at 3,970.09 points on 30 June. The latest milestone surpasses the previous record of 4,005.18 points, which was achieved on 28 March. That day also marked the index’s first historic breach of the 4,000-point level, although it subsequently closed lower at 3,972.43.
The STI later faced significant volatility, dropping to a 2025 low of 3,372.38 on 9 April following concerns over former US President Donald Trump’s proposed “Liberation Day” tariffs. Although these tariffs were later deferred by 90 days to 9 July, the announcement initially triggered investor caution.
Market sentiment has since rebounded, with analysts forecasting further upside. In remarks made during a media briefing on 27 June, OCBC Investment Research’s Singapore strategist Carmen Lee stated that the STI has a “slightly good chance” of reclaiming the 4,000-point mark in the second half of 2025. Lee has set a 12-month target range of 4,060 to 4,280 for the index.
-The Edge
