Singapore stocks end higher amid mixed regional showing; STI up 1%
Across the broader market, gainers outnumber losers 390 to 204, as 2.1 billion securities worth S$4.5 billion change hands
Published Fri, May 29, 2026 · 06:55 PM
[SINGAPORE] Stocks on the local bourse ended higher on Friday (May 29) amid hopes of a US-Iran truce deal, even as regional markets turned in a mixed performance.
The benchmark Straits Times Index (STI) gained 1 per cent or 48.67 points to close at 5,037.86.
Across the broader market, gainers outnumbered losers 390 to 204, after 2.1 billion securities worth S$4.5 billion changed hands.
On the STI, Wilmar International led the gainers, rising 5.9 per cent or S$0.20 to end at S$3.59. The biggest decliner was Seatrium , which fell 2.3 per cent or S$0.05 to S$2.12.
Within the iEdge Singapore Next 50 Index, Frencken Group was the top gainer, rising 6.1 per cent or S$0.19 to finish at S$3.29. Haw Par was the biggest loser, with a 3.2 per cent or S$0.51 fall to S$15.42.
The three local banks ended mixed. DBS rose 1.5 per cent or S$0.91 to S$62.84, and OCBC was up 1 per cent or S$0.24 at S$23.40, while UOB finished 0.2 per cent or S$0.09 lower at S$37.60.
Key regional indices ended on a varied note. Hong Kong’s Hang Seng Index gained 0.7 per cent, Japan’s Nikkei 225 rose 2.5 per cent and South Korea’s Kospi advanced 3.6 per cent.
Meanwhile, the FTSE Bursa Malaysia KLCI slipped 0.1 per cent and Indonesia’s IDX Composite dropped 0.05 per cent, and Shanghai’s SSE Composite Index fell 0.7 per cent.
Overnight, the S&P 500 and Nasdaq Composite closed at record highs after reports indicated that the US and Iran had reached a draft agreement to extend their ceasefire for 60 days.
Jose Torres, a senior economist at Interactive Brokers, said that stocks rebounded from Thursday morning losses and climbed to fresh highs on news of the proposed ceasefire extension.
Earlier selling pressure, he noted, was driven by renewed Middle East hostilities, which overshadowed strong corporate earnings.
“However, the S&P 500, Nasdaq 100 and Russell 2000 indices have since climbed to all-time highs on renewed geopolitical relief, and equities are on track for their sixth consecutive day of advances (amid) a ninth straight week of gains,” he added.
This article has been written with the assistance of AI and reviewed by a reporter
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
