Singapore stocks ended the week on a firmer footing, with the Straits Times Index closing above 4,900 after a banking-led advance. According to the market summary, the STI rose 1.06% to 4,912.69 on April 30, as investors continued to favour large-cap financials despite a broader tone of caution.

DBS was the standout mover, climbing 3.43% to S$58.50 after a first-quarter profit that exceeded analyst forecasts and prompted the lender to lift its deposit-growth outlook, The Straits Times reported. OCBC and United Overseas Bank were steadier, while other index names such as Singtel and Wilmar International delivered a more uneven performance.

Breadth figures pointed to a more selective market beneath the headline gains. There were 348 decliners compared with 284 advancers, even as turnover reached 2.13 billion shares worth S$2.99 billion. The iEdge Singapore Next 50 Index and the iEdge S-REIT Index both lagged the blue-chip benchmark, suggesting that enthusiasm remained concentrated in a narrow set of stocks rather than spread across the wider market.

Activity in derivatives was also robust, with 335,110 contracts traded and FTSE China A50 Index futures for May settling at 15,654. That broader regional focus comes as SGX pushes ahead with a major strategic overhaul, including new Global Listing Board rules designed to support dual listings with Nasdaq. Under the planned framework, companies will need a minimum market value of US$2 billion and must allocate part of any fundraising to Singapore, while SGX RegCo has said a portion of the offer will also be directed to retail brokers and that U.S. disclosures must be mirrored promptly on SGXNet. Market watchers see the initiative as a bid to sharpen Singapore’s appeal to faster-growing issuers at a time of uncertain capital flows.

Corporate interest was not limited to the blue chips. Smaller counters such as Hor Kew Corporation also drew attention ahead of dividend-related activity, underlining the continued appeal of yield names in a market where investors remain willing to rotate into select opportunities rather than buy the market wholesale.

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Source: Noah Wire Services