SG Morning Call | Singapore stocks opened higHer; Singapore Startups Double Down On AI Usage

Market Snapshot

Singapore stocks opened higher on Tuesday. STI rose 0.1%; SGS rose over 1%, OCBC rose 0.4%, SIA, UOB rose 0.3%; DBS fell 0.2%.

Stocks in Focus

$SIA(C6L.SI)$ : SIA Group’s passenger traffic grew 4.9 per cent year on year in May, while its passenger capacity increased by 5.3 per cent. Flagship carrier SIA and budget arm Scoot said on Monday that passenger traffic was at 13.5 billion revenue passenger kilometres in May, up from 12.9 billion in the year-ago period. On the cargo front, loads grew 3.2 per cent to 534.1 million tonne-km, from 517.6 million tonne-km, against a capacity expansion of 1.5 per cent. Shares of SIA rose 2.4 per cent or S$0.17 to close at S$7.17 before the announcement.

Trading halt: $EliteUKREIT SGD(MENU.SI)$ on Tuesday called for a trading halt before market open, pending the release of an announcement.

SG Local News

Singapore startups double down on AI usage, running multiple platforms

Startups in Singapore have doubled down on artificial intelligence usage, with the number subscribing to an AI platform growing 42 per cent year on year in 2026, a report by fintech firm Aspire showed on Tuesday (Jun 16).

The number of startups running three or more AI platforms simultaneously more than doubled to 704 between 2025 and 2026, compared with 339 the year before.

New private home sales at three-month low in May, with only one major new launch; developers sell 447 units in all

With only one new project launch in May, developers in Singapore sold 447 private homes in the month, hitting a three-month low, well below the 1,548 units transacted in April.

Still, the latest May sales figure – which excludes executive condominiums (ECs) – was 43.3 per cent higher than the 312 units moved in the same month the year before, data released by the Urban Redevelopment Authority (URA) showed on Monday (Jun 15).