24.04.202602:37:35UTC+00Singapore Stocks Set to Close Week on Low Note

The STI Index fell 35 points, or 0.7%, to 4,908 in Friday morning trade, extending its losing streak to a third consecutive session. The benchmark tracked overnight declines on Wall Street amid uncertainty over US-Iran ceasefire negotiations. The broader market hovered near its lowest level since March 30, as sentiment stayed cautious on fears of potential oil supply disruptions after US President Trump floated the possibility of a naval blockade of Iranian ports.

Investors also continued to digest March inflation data, which came in at its highest level in one and a half years, reinforcing expectations that the Monetary Authority of Singapore may further tighten monetary policy. Most sectors traded lower, with notable weakness in non-energy minerals, technology, and financials. Early decliners included City Developments (-1.3%), SATS (-1.2%), Hongkong Land Holdings (-1.1%), and UOB (-0.9%). For the week, the index is on track for a 1.8% loss—its first weekly decline in a month—against a backdrop of rising oil prices fueled by the Iran conflict.