It has been a monumental week for the Singapore market, characterized by broken records and massive industrial commitments.
The Straits Times Index (SGX: ^STI) surged to a new historic peak, crossing the 4,900 mark for the first time in history.
This rally was anchored by DBS Group (SGX: D05) hitting the psychological $60 milestone and a vote of confidence from the Monetary Authority of Singapore (MAS), which maintained its policy stance amid resilient economic growth.
Meanwhile, the technology sector received a generational boost as Micron Technology (NASDAQ: MU) announced a US$24 billion investment, reinforcing Singapore’s status as a critical node in the global AI and semiconductor supply chain.
The Straits Times Index breached the 4,900 level on 27 January, rising 1.3% or 62.09 points to close at 4,923.02.
The rally was fuelled by overnight gains on Wall Street, safe-haven flows and optimism surrounding US Big Tech earnings.
Several blue-chip constituents reached record highs during the session, with UOL Group (SGX: U14) leading gainers by surging 8% to S$11.18.
Jardine Matheson Holdings (SGX: J36) also closed at a historical high of US$76.28.
Across the broader market, gainers beat losers 341 to 235, with nearly 1.5 billion securities worth over S$2.1 billion changing hands.
Analysts attributed the strong performance to investor preference for Singapore equities amid concerns over US fiscal discipline and rising long-term bond yields.
DBS Group shares opened at S$60 on 29 January when markets commenced trading, marking a new all-time high for Singapore’s largest bank.
The stock had crossed the S$50 mark in August 2025, representing a nearly 37% gain over the past year.
DBS closed the session at S$59.81, with the milestone coming ahead of its fourth quarter 2025 (4Q2025) and full year 2025 (FY2025) results announcement scheduled for 9 February.
JP Morgan analysts have set a price target of S$70 by December 2026, describing DBS as one of the few Asian financial stocks worthy of inclusion in global portfolios.
Bloomberg estimates project the bank to report a 4Q2025 net profit of S$2.6 billion and full year net profit of S$11.375 billion, surpassing the previous year’s figures.
Micron Technology broke ground on 27 January for Singapore’s first double-storey wafer fabrication facility, representing a planned investment of around US$24 billion over 10 years.
Located within the company’s existing NAND manufacturing complex in northern Singapore, the facility will feature approximately 700,000 square feet of cleanroom space and is scheduled to begin output in the second half of 2028.
