Singapore shares rose 6% this week as the softening in the trade rhetoric is being seen as a bullish sign that the Trump administration is becoming attentive to capital market developments.

In terms of star stocks, DFIRG USD rose 11%, SGX rose 8%, UOB rose 7%; Xiaomi HK SDR 2to1 fell 7%; Meituan HK SDR 5to1 fell 6%; Top Glove fell 4%.

Market News

Singapore Exchange Says FX Futures Volume Increased 45% To $1.2 Trillion in Q1

Singapore Exchange says that in Q1, FX futures volume increased 45% y-o-y, hitting a new high of US$1.2 trillion. In Q1, FX futures daily average volume up 47%, reaching a milestone of US$20.3 billion.

UOB Incorporates SAT in Sustainable Financing Framework

UOB implemented the Singapore-Asia Taxonomy(SAT) within its sustainable financing frameworks to improve access to financing across small and medium enterprises, according to a report by the Singapore Business Review on Tuesday.

Through SAT, the bank will require entities involved in six major sustainable frameworks to become eligible for financing.

Xiaomi Will Not Bring New YU7 to China's Largest Auto Show, Exec Says

XIAOMI-W does not plan to showcase its upcoming YU7 electric SUV at China's largest auto show next week, deflating widespread anticipation among visitors keen to catch a glimpse of the would-be challenger to Tesla's Model Y.

Xiaomi's Vice President Li Xiaoshuang said the company would only take its SU7 and SU7 Ultra vehicles to the Shanghai auto show on social media platform Weibo on Tuesday.

China’s on-Demand Services Market to See ‘Clash of Titans’ as JD.com Takes on Meituan

China’s on-demand services industry, which employs millions of gig workers and empowers a convenient urban lifestyle, is expected to see a “clash of titans” as e-commerce giant JD.com moves ahead with plans to challenge the dominance of Meituan.

JD.com, founded by billionaire Richard Liu Qiangdong, will hire 50,000 fast delivery workers as an initial step in facing off against on-demand services giant Meituan. According to a statement from JD.com, the new delivery workers will primarily be assigned to the JD Now on-demand retail business, which covers more than 100,000 self-operated stores selling goods such as clothing, home appliances and medicine.

JD said it aimed to cut average delivery times to below 30 minutes, meaning a customer can expect to receive the purchased item within half an hour of placing an online order, laying bare the company’s ambitions to win over consumers in the on-demand and food delivery segment.

Meituan said on Tuesday that it will transform its Shan Gou, or Instashopping service, into an “independent brand”, offering 30-minute delivery and round-the-clock service that covers nearly 3,000 cities and counties in China.

Singapore to Hold Election on May 3 Amid Cost of Living and Trade Concerns

Singapore will hold a national election on May 3, the election commission said on Tuesday, amid worries about the cost of living and fears of a recession as a result of U.S. tariffs.

The vote will be the first electoral test for Prime Minister Lawrence Wong, who took over from long-time premier Lee Hsien Loong as leader of the People's Action Party (PAP) in May 2024.