Singapore's STI Falls 0.2% Amid Middle East War Concerns; Local Banks Lead Declines

Gate News message, April 22 — Singapore’s benchmark Straits Times Index (STI) fell 0.2%, or 12.24 points, to close at 5,002.72 on April 22, as investors worried about a prolonged Middle East conflict and potential escalation between the U.S. and Iran.

The trio of local banks all declined. DBS dropped 0.5%, or $0.28, to $57.20; OCBC fell 0.1%, or $0.02, to $22.59; and UOB slid 0.7%, or $0.25, to $37.02. Among the STI’s 30 constituents, Singtel was the worst performer, losing 1.6%, or $0.08, to $4.78, while DFI Retail Group was the top gainer, rising 4.6%, or $0.19, to $4.35. Across the broader market, gainers edged out losers 298 to 288, with 1.9 billion securities valued at $2.1 billion changing hands.

Regional indexes showed mixed performance. Japan’s Nikkei 225 rose 0.4% and South Korea’s KOSPI gained 0.5%, while Hong Kong’s Hang Seng Index fell 1.2% and Malaysia’s FTSE Bursa Malaysia KLCI declined 0.3%. Private banking group LGT noted that investors remain concerned the U.S.-Iran conflict could be prolonged, despite U.S. President Donald Trump’s decision to extend a two-week ceasefire while maintaining a naval blockade.