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From defence to dividends: The best performing STI components are riding big global currents

Betting that laggards will quickly catch up with the leaders could be a mistake in the current thematic, growth-oriented market environment

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Ben Paul

Ben Paul

Published Mon, Sep 15, 2025 · 07:00 AM
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    • Deputy MAS chairman Chee Hong Tat called on corporate boards last week to do more to deliver shareholder value, and communicate better with investors
    • Deputy MAS chairman Chee Hong Tat called on corporate boards last week to do more to deliver shareholder value, and communicate better with investors PHOTO: BT FILE

    [SINGAPORE] There was no shortage of worrying news headlines on the geopolitical front last week – from Poland shooting down Russian drones, to Israel attacking Hamas in Qatar.

    Yet, there was little sign of fear or pessimism in global financial markets. In fact, the possibility of a wider military conflict in Europe just seemed to stoke enthusiasm for hot defence stocks.

    BAE Systems, Rheinmetall and Rolls-Royce were up last week by 11.3 per cent, 8.7 per cent and 5.4 per cent, respectively. The Stoxx Europe 600 index ended last week more than 1 per cent higher.

    Singapore stock marketSingapore StocksStraits Times IndexS-ReitsSingapore REITsMAS review group

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    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

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    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS, OCBC and UOB shares hit all-time highs as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

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    Singapore is ranked as the world’s most expensive city for cars and placed third globally for residential property, according to Julius Baer.

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