STI slides 1.2% as Brent price rises above US$100

Across the broader market, losers beat gainers 389 to 226, with 1.8 billion securities worth S$2.3 billion changing hands

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Tay Peck Gek

Published Thu, Apr 23, 2026 · 06:17 PM

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The local banks all ended lower. DBS edged down to S$57, OCBC dropped to S$21.80 and UOB slid to S$36.90. PHOTO: BT FILE

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[SINGAPORE] Singapore blue chips closed lower on Thursday (Apr 23) as Brent crude oil breached US$100 a barrel amid persistent tensions in the Middle East. The benchmark Straits Times Index (STI) lost 1.2 per cent or 58.61 points to finish at 4,944.11.

Thai Beverage led the gainers on Singapore’s blue-chip index by a far margin, rising 3.7 per cent or S$0.015 to S$0.425. It was one of the four STI stocks that managed to eke out an increase.

Agribusiness group Wilmar International , offshore and energy solutions provider Seatrium , and data centre real estate investment trust Keppel DC Reit were the other STI constituents that closed higher.

Wilmar rose 0.5 per cent or S$0.02 to S$3.91. Seatrium and Keppel DC Reit were both up 0.4 per cent or S$0.01 to end at S$2.37 and S$2.38, respectively. The worst performer was Hongkong Land , which fell 4 per cent or US$0.32 to close at US$7.60.

The local banks all ended lower. DBS edged down 0.4 per cent or S$0.20 to S$57, OCBC dropped 3.5 per cent or S$0.79 to S$21.80 as it went ex-dividend, and UOB slid 0.3 per cent or S$0.12 to S$36.90.

Within the iEdge Singapore Next 50 Index, Olam Group was the top gainer, rising 6.7 per cent or S$0.065 to finish at S$1.04, while Hong Leong Asia was the biggest loser, falling 4.4 per cent or S$0.15 to end the session at S$3.25.

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Across the broader market, losers beat gainers 389 to 226, with 1.8 billion securities worth S$2.3 billion changed hands.

Key regional indices were mainly down. Hong Kong’s Hang Seng Index lost 1 per cent, Japan’s Nikkei 225 index fell 0.8 per cent. However, South Korea’s Kospi was up 0.9 per cent.

Vishnu Varathan, head of macro strategy for Asia Pacific at Mizuho Securities (Singapore), noted that as flares of tensions persist in the Strait of Hormuz – with both US and Iran seizing or attacking vessels – Brent is pushed back above S$100 per barrel and risk appetite likely checked at the margin.