SG Morning Call｜Singapore’s 30 Largest Stocks Gain 5% in First Quarter of 2026, but Iran War Keeps Markets on Edge

Market Snapshot

Singapore stocks opened higher on Monday. STI up 0.3%; Nio up 3%; Singtel up 2%.

Stocks in Focus

$Olam Group(VC2.SI)$: The agri-food giant is selling its information technology and digital services unit, Mindsprint, to Wipro for US$375 million as part of a broader corporate reorganisation, it said on Monday. The sale is expected to close by end-June. The Singapore-based company also agreed to an eight-year contract to spend US$100 million annually with Wipro. Shares of Olam Group fell 0.6 per cent to close S$0.005 lower at S$0.86 on Thursday.

$Geo Energy Res(RE4.SI)$: Geo Energy Resources announced on Thursday a proposed placement of up to 35,000,000 new ordinary shares to raise gross proceeds of about S$18.375 million. The new shares are priced at S$0.525 per share. This is to enhance the group’s capital structure, financial flexibility and broaden the company’s shareholder base, the firm said. Shares of Geo Energy Resources ended at S$0.535 on Thursday before the announcement, S$0.02 or 3.6 per cent lower.

SG Local News

Singapore’s 30 Largest Stocks Gain 5% in First Quarter of 2026, but Iran War Keeps Markets on Edge

Buoyed by reforms to the local equities market, Singapore stocks performed well in the first quarter of 2026, but markets have since turned more volatile as the Iran war clouds the outlook.

The Straits Times Index (STI) rose 5.1 per cent between January and March to 4,885.45 points, with dividends lifting total returns to 5.6 per cent, data from the Singapore Exchange (SGX) showed.

It noted that the STI’s performance was strong compared with other indexes: The FTSE APAC Index delivered 0.4 per cent total return, and the FTSE World Index declined 3 per cent in Singapore dollar terms.