The bellwether index quickly rebounded and burst beyond 4,000 points in late June, just after OCBC Investment Research’s Singapore strategist Carmen Lee shared her 12-month target of around 4,060 to 4,280 points with The Edge Singapore.
A bout of exuberance in July caught even experienced local analysts by surprise. No chart better represents this than the Straits Times Index (STI), whose constituents are the top 30 Singapore-listed stocks by market capitalisation.
After briefly surpassing the 4,000-point mark for the first time on March 28, the STI fell to a 2025 low of 3,370.31 points on April 9 owing to US President Donald Trump’s threat of global tariffs.
