STI falls 2.7% to 4,717.20 as global oil prices surge

The index remains below its 52-week high of 5,041.33.

Singapore shares fell on Monday, 9 March, as oil prices surged amidst heightened geopolitical tensions in the Middle East.

The Straits Times Index (STI) dropped 131.05 points, or 2.7%, to 4,717.20 as of 12:42 p.m., according to data from the Singapore Exchange.

The index opened at 4,778.38 and fell to an intraday low of 4,697.52 during early trading.

Within the STI, several constituents traded lower, including City Developments, which fell 4.15% to $8.78, and DBS Group Holdings, which was down 2.02% to $53.89.

Moreover, Property and REIT counters like CapitaLand Investment and CapitaLand Ascendas REIT also declined.

The STI remains below its 52-week high of 5,041.33.

Oil prices climbed sharply in global markets. Brent crude was trading at around $148.54 (US$115.80) per barrel, up $29.65 (US$23.11) or about 24.9%.

Meanwhile, West Texas Intermediate crude futures were quoted at about $147.68 (US$115.12) per barrel, rising $31.07 (US$24.22) or 26.6%.

$1 = US$0.78

Follow the link for more news on

STI Index

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia