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Saxo zooms in on some local stocks as STI hits decade high

Samantha Chiew
Samantha Chiew • 4 min read
Saxo zooms in on some local stocks as STI hits decade high
“Singapore continues to attract talent, capital and businesses" - Saxo's Charu Chanana. Photo: Albert Chua/ The Edge Singapore
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Singapore’s equity market is staging a revival as the nation marks its 60th year of independence. The Straits Times Index (STI) recorded a strong July, achieving 17 winning sessions out of 23 — its longest streak in over a decade. Attractive yields, valuation support and robust foreign inflows are driving momentum, and investors are taking note.

Charu Chanana, chief investment strategist at Saxo, says the rally is supported by Singapore’s position as a global hub, combined with safe haven appeal and leadership in technology. “Singapore continues to attract talent, capital and businesses, with leadership in finance, trade and digital infrastructure,” she says. Chanana highlights political stability, the rule of law and neutrality as factors that make Singapore “a natural destination in a risk-off world.”

A series of structural and cyclical forces are coming together to bolster sentiment. Singapore has carved out a leadership position in the global technology sector. “Among the top 10 AI markets globally, Singapore is investing in autonomous vehicles, humanoids, and data infrastructure — poised for long-term productivity gains,” Chanana notes.

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