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The Singapore stock market saw an upward trend, with the STI Index gaining 0.06% to 3,828.92. Other major indices, including the iEdge S-REIT Index and FTSE ST All-Share Index, also recorded gains.
Singapore’s stock market saw mixed movement as Singtel surged 1.87% to SGD 3.26, while OCBC Bank and UOB faced slight declines. DBS gained 0.30%, maintaining stability.
Singapore’s housing market is also experiencing notable shifts. New home sales plunged to 208 units in August, a sharp drop from both the previous month and the same period last year. This decline is attributed to a scarcity of new residential projects and developer caution amid high interest rates. Despite this, home prices have remained stable, particularly in the secondary market. Developers are expected to launch more units later this year, but face increasing concerns about government measures and housing affordability.