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STI’s new high: A narrow group of companies unlocking value, lifting profitability has driven the run

GIC shouldn’t allocate funds to ‘pump-prime’ the market; another vehicle should be formed to seize the economic benefits of a more vibrant local market ecosystem

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Ben Paul

Ben Paul

Published Mon, Feb 17, 2025 · 05:00 AM
    • MAS announced last week that the equities market review group has submitted proposals to boost the local market.
    • MAS announced last week that the equities market review group has submitted proposals to boost the local market. PHOTO: BT FILE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    THE Straits Times Index (STI) reached a milestone of sorts early last week. When the market opened on Monday (Feb 10), the benchmark index hit a new all-time high of 3,921.30.

    This surpassed the preceding record high of 3,906.16 set in October 2007, noted the Singapore Exchange (SGX).

    One factor that drove the STI to its new high was a surge in shares of DBS, OCBC and UOB – which account for more than half the index. In particular, DBS crossed the S$46 threshold after another strong earnings report.

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