STI rose 2.78% this week as Singapore market responded positively to optimism around the US and China scaling back their tariffs stance.

In terms of star stocks, NIO rose 15.88%, IFAST rose 8.45%, JMH USD rose 8.13%; HPH Trust SGD rose 7.6%; Keppel rose 7.27%.

Market News

Nio Showcases New Brands

Global tariff news have helped support NIO stock. Trade between the U.S. and China has virtually halted for the time being, and that has given Chinese domestic automakers an advantage in their home market. NIO is showcasing its newest brands, Onvo and Firefly, at the Shanghai show this week. CEO William Li told reporters that it was the first time each of its three brands were collectively represented at the show.

The flagship Onvo L90 SUV also made its debut there. China's big auto shows are typically where EV makers showcase new technologies highlighting better-performing EVs at lower and lower prices. Li also said at a press conference that the newest Firefly brand will be sold in at least 16 overseas markets eventually. That could considerably increase the market for Nio with what it calls its "small smart electric high-end cars." That potential growth has investors boosting Nio shares this week.

iFast Q1 Net Profit Rises 31.2% to S$19 Million

Digital bank and wealth management platform iFast said its net profit rose 31.2 per cent year on year to S$19 million for the first quarter ended Mar 31, driven by a turnaround in its UK bank. Continuing growth in the group’s core wealth management platform business also contributed.

Revenue gained 24.4 per cent to S$106.9 million, and the group’s assets under administration grew 22 per cent to a record high of S$25.7 billion as at the end of Q1, from net inflows of S$938 million, iFast said on Friday (Apr 25).

The company also declared an interim dividend of S$0.016 a share, compared with S$0.013 in Q1 2024.

Keppel Posts More Than 25% Jump in Q1 Net Profit

Keppel’s net profit rose more than 25 per cent for the first quarter ended March, driven by improvements in its real estate and asset management arms.

These profits, compared to Q1 in 2024, exclude legacy offshore and marine assets such as shares of Seatrium and legacy rigs remaining from the company’s divestment of its offshore and marine business in 2024. Including these assets, profit would more than double due to reduced losses from the legacy portfolio.

Recurring income accounted more than 80 per cent of net profit in the quarter. It was driven by stable results in the infrastructure segment, improved contributions from real estate and stronger asset management returns, the company noted.

Retail Investors Buy $1.17b in Stocks Amid STI April Selloff

Singapore’s retail investors made bold moves in April as the Straits Times Index (STI) saw one of its most volatile stretches in recent years.

After tumbling 14.6% from the end of Q1 to April 9, the STI staged a sharp rebound of 12.9% by April 23. Still, the index closed the period with a net loss of 3.2%.

Retail traders were quick to act during the initial selloff. From April 1 to 9, they poured $1.165b into the Singapore stock market, betting on a rebound.

Singapore Home Prices Rise More Than Estimated Before Election

Singapore private home prices rose more than initially estimated in the first quarter, in a sign of continued demand in the market despite expectations of headwinds.

An index of private residential prices rose 0.8% from the previous three months, the Urban Redevelopment Authority said Friday. That compares with an initial estimate of 0.6% and a 2.3% jump in the last quarter of 2024.

Another closely watched measure, an index of private rents, rose by 0.4%, after staying flat in the previous quarter.