STI 10,000: How the narrative on Singapore is changing

Could the Straits Times Index (STI) really hit 10,000 by 2040? That was the headline-grabbing projection from DBS, one that drew plenty of raised eyebrows, a few hopeful nods, and a lot of keyboard economists.

In the latest Mark to Market from The Business Times, senior correspondent Ben Paul examines the logic behind the number and what it might reveal about a changing narrative in Singapore’s market. Because beneath the bullish forecast lies something more interesting: a quiet shift in sentiment that could redefine how investors see Singapore stocks.

Why listen

Paul breaks down what this turning point could mean for investors and companies alike:

• The big call: Why DBS’s long-term view on Singapore’s GDP, currency and equity market may not be as far-fetched as it sounds.

• The catalysts: From AI-driven productivity to mega-projects like Tuas Port and Changi Terminal 5 how structural change could reignite growth.

• The catch: Why investors need to think beyond dividends, and why complacency could be the biggest risk in a rising market.

• The shift: How Singapore’s story might finally be moving from defensive to dynamic and what that means for valuations, Reits and the STI’s next generation of listings.

Forecasts are rarely gospel, but they can be useful mirrors of confidence. After years of neglect, Singapore’s stock market might just be rediscovering its swagger.

So, is STI 10,000 really impossible or simply inevitable?

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Find out in the latest episode of Mark to Market, or wherever you get your podcasts.

Mark to Market is a podcast of BT Correspondents. Look out for the next episode featuring wealth editor, Genevieve Cua. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@sph.com.sg.

Written and hosted by: Ben Paul (benpaul@sph.com.sg)

SEE ALSO

STI 10,000 is not an unachievable goal

Broadening bullishness in Singapore

Putting the onus on boards for performance

Edited by: Howie Lim & Claressa Monteiro

Produced by: Ben Paul, Howie Lim & Chai Pei Chieh

A podcast by BT Podcasts, The Business Times, SPH Media

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