The Straits Times Index (STI) has climbed back to the 4,400 mark, closing at 4,422.21, following a 2.17% rise. This rebound is attributed to the robust performance of Wall Street, which reached all-time highs due to a favourable inflation report. The likelihood of a 25-basis points interest rate cut by the US Federal Reserve this week stands at 96.9%.
In corporate developments, Jardine Matheson has made a privatisation offer for Mandarin Oriental, causing both companies’ stocks to surge. Meanwhile, Seatrium has rejected what it termed the “wrongful termination” of a $475m contract.
A report from DBS suggests that the STI could reach 10,000 and the Singapore Dollar could achieve parity with the US Dollar by 2040. Additionally, the Monetary Authority of Singapore (MAS) has issued a consultation paper on civil compensation for market misconduct, with more market measures expected to be announced in November.
Upcoming events include a dialogue with Keppel Infrastructure Trust on 30 October and the SIAS Investors’ Choice Awards on 11 November. These events aim to provide investors with insights into company performances and market trends.
The Securities Investors Association (Singapore) continues to promote investor education and financial well-being, supported by a 250% tax deduction for qualifying donations extended until 31 December 2026.
