 
Singapore’s stock market ended the week on a high, bolstered by strong U.S. economic data released Thursday night. The Straits Times Index (SGX: ^STI) closed at 3,442.93 on Friday, reflecting a gain of 38.46 points or 1.13% compared to the previous day. Over the week, the STI achieved a robust increase of 1.62%.
Midweek Challenges for Equities
Earlier in the week, on August 28, the STI faced a brief setback, slipping by 0.2% or 7.44 points to close at 3,391.03. This decline coincided with mixed regional performances and market caution ahead of Nvidia Corp’s (NASDAQ: NVDA) financial results. Nvidia’s underwhelming forecast and challenges with its Blackwell chip negatively impacted sentiment, with repercussions for Singapore-based companies in Nvidia’s supply chain.
Sector Highlights
Despite broader tech sector struggles, Singapore Technologies Engineering Ltd (SGX: S63) demonstrated resilience, with its share price rising 14.4% year-to-date on strong revenue and profit growth. Other notable movements included Sembcorp Industries (SGX: U96), which gained 3.14% to close at S$4.93, and Hong Kong Land (SGX: H78), which reached a 52-week high of US$3.78. Conversely, DFI Retail Group Holdings Ltd (SGX: D01) saw a slight decline of 1.1%, closing at US$1.86.
Positive Momentum Going Forward
Investor confidence was buoyed by favourable U.S. economic data, which provided a strong tailwind for Singapore’s stock market heading into the new week.
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