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Singapore stocks retreat following AI headwind fears; STI closes lower​

The benchmark index falls 1.7% to close at 4,963.67

Summarise


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Chloe Lim

Chloe Lim

Published Mon, Jun 8, 2026 · 06:42 PM

  • Across the broader market, losers beat gainers 489 to 149, after 1.5 billion securities worth S$2.2 billion changed hands.
  • Across the broader market, losers beat gainers 489 to 149, after 1.5 billion securities worth S$2.2 billion changed hands. PHOTO: BT FILE
[SINGAPORE] Singapore stocks ended lower on Monday (Jun 8) amid fears of Big Tech and the release of US labour data, which also led to a significant pullback in global markets earlier.

The Straits Times Index (STI) lost 1.7 per cent or 86.29 points to finish at 4,963.67.

It ended in a sea of red with only two counters, CapitaLand Integrated Commercial Trust : C38U 0% and Mapletree Logistics Trust : M44U 0% closing unchanged at S$2.27 and S$1.18, respectively.
 

Economists see slower Singapore growth in 2026, faster inflation​

Cynthia Li & Isabelle Chong / Bloomberg Published on Mon, Jun 08, 2026 / 02:54 PM GMT+08 / Updated 1 hour ago
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(June 8): Economists lowered their forecasts for Singapore’s economic growth and raised inflation expectations, according to the latest Bloomberg News survey conducted June 2-5.

Gross domestic product (GDP) will expand 3.9% in the second quarter, according to the results, down from 4.5% in the previous survey in March.

The full-year GDP outlook fell to 3.3% from 3.5%. Headline and core inflation forecasts for this year were raised to 2.3% and 2%, respectively, from 1.5% previously for both.

While the government last month reiterated its 2%-4% outlook for growth this year, it warned that the outlook has weakened because of energy and supply chain disruptions from the Middle East conflict.

Supply disruptions have extended beyond crude oil and driven up production costs, Ahmad Mobeen, S&P Global Market Intelligence’s principal economist for Asia-Pacific, said in a survey response.

“These developments will compress margins in energy-intensive sectors, while increased uncertainty around global trade flows is likely to dampen investment and production decisions and export orders in the coming quarters,“ Mobeen added.
 

Singapore’s PM Warns Full Impact of Mideast Conflict Yet to Come​





Singapore Prime Minister Lawrence Wong

Singapore Prime Minister Lawrence WongPhotographer: Lionel Ng/Bloomberg
By Philip Heijmans and Isabelle Chong
June 8, 2026 at 5:10 PM GMT+8
Updated on
June 8, 2026 at 6:37 PM GMT+8
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Takeaways by Bloomberg AI​

Singapore Prime Minister Lawrence Wongwarned that the economy has yet to feel the full impact of the Middle East conflict, and uncertainty remains over the growth outlook despite a strong performance in the first quarter.

“There’s a lag,” Wong said on Monday at a Singapore Press Club event. “There are downside risks and we do expect more pressures to come on both growth and inflation in the second half of the year.”

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Singapore stocks retreat following AI headwind fears; STI closes lower​

The benchmark index falls 1.7% to close at 4,963.67

Summarise


View attachment 242959Add BT as a preferred source
Chloe Lim

Chloe Lim

Published Mon, Jun 8, 2026 · 06:42 PM

  • Across the broader market, losers beat gainers 489 to 149, after 1.5 billion securities worth S$2.2 billion changed hands.
  • Across the broader market, losers beat gainers 489 to 149, after 1.5 billion securities worth S$2.2 billion changed hands. PHOTO: BT FILE
[SINGAPORE] Singapore stocks ended lower on Monday (Jun 8) amid fears of Big Tech and the release of US labour data, which also led to a significant pullback in global markets earlier.

The Straits Times Index (STI) lost 1.7 per cent or 86.29 points to finish at 4,963.67.

It ended in a sea of red with only two counters, CapitaLand Integrated Commercial Trust : C38U 0% and Mapletree Logistics Trust : M44U 0% closing unchanged at S$2.27 and S$1.18, respectively.
When take cdc what to do with sti ?
 

More retrenched white-collar workers in Singapore seeking unions’ help​

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caption

In 2025, the NTUC handled over 3,900 retrenchment and termination-related cases for professionals, managers and executives (PMEs), five per cent more than in 2024.

ST PHOTO: AZMI ATHNI

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Published Jun 08, 2026, 05:00 AM
Updated Jun 08, 2026, 12:42 PM

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SINGAPORE – More white-collar workers are seeking help with unions and trade associations after losing their jobs.

The National Trades Union Congress has also seen more cases of retrenchments due to business restructuring recently, said its assistant secretary-general Patrick Tay.

In 2025, NTUC handled over 3,900 retrenchment and termination-related cases for professionals, managers and executives (PMEs), 5 per cent more than in 2024.
 

Singapore’s PM Warns Full Impact of Mideast Conflict Yet to Come​





Singapore Prime Minister Lawrence Wong

Singapore Prime Minister Lawrence WongPhotographer: Lionel Ng/Bloomberg
By Philip Heijmans and Isabelle Chong
June 8, 2026 at 5:10 PM GMT+8
Updated on
June 8, 2026 at 6:37 PM GMT+8
Save
Translate

Takeaways by Bloomberg AI​

Singapore Prime Minister Lawrence Wongwarned that the economy has yet to feel the full impact of the Middle East conflict, and uncertainty remains over the growth outlook despite a strong performance in the first quarter.

“There’s a lag,” Wong said on Monday at a Singapore Press Club event. “There are downside risks and we do expect more pressures to come on both growth and inflation in the second half of the year.”

More From Bloomberg​


Fire Erupts on Luxury Yacht at Singapore Island Resort

Record Singapore-US Rate Gap May Widen Further on Flows, Fed
PSA Tuas Port Opens
Singapore Denies Forced Labor Claims After Trump Tariff Move
Key Speakers at the IISS Shangri-La Dialogue Asia Security Summit
Singapore Ex-Minister Backs Trump’s Focus on China Over Taiwan

Hedge Fund Astignes Hires Ex-Polymer Yen Rates Trader Murayama

Top Reads​


Iran Shock Jolts Asia and Europe to Speed Up Energy Transition
by Hayley Warren, Akshat Rathi, Neil Jerome Morales and Stephen Stapczynski
AI Vs Money Managers
AI Is Upending One of Finance’s Cushiest Jobs
by Suzanne Woolley and Vildana Hajric
ETF heartbeats homepage
The Top 1% Reap Most From Tax Loophole Costing $48 Billion
by Zachary R Mider and Surya Mattu

Why Amazon Has Struggled to Crack India
by Sankalp Phartiyal, Anto Antony and Matt Day





HomeBTV+Market DataOpinionAudioOriginalsMagazineEvents
News
MarketsEconomicsTechnologyPoliticsGreenCryptoAI
Work & Life
WealthPursuitsBusinessweekCityLabSportsEqualityManagement & Work
Market Data
StocksCommoditiesRates & BondsCurrenciesFuturesSectorsEconomic Calendar
Explore
NewslettersExplainersPointed News QuizAlphadots GameThe Big TakeGraphicsSubmit a TipAbout Us
Terms of ServiceDo Not Sell or Share My Personal InformationTrademarksPrivacy Policy
CareersAdvertise
Ad Choices
Help©2026 Bloomberg L.P. All Rights Reserved.






Get unlimited access for just $1.99 your first month.
Claim This Offer
Sign InTerms of ServicePrivacy PolicyDo Not Sell or Share My Personal Informa

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NTUC concerned about employers presenting retrenchments as 'new opportunities' by asking workers to reapply for roles abroad​

Some employers take this approach in order to avoid the optics of a retrenchment, say manpower experts.
NTUC concerned about employers presenting retrenchments as 'new opportunities' by asking workers to reapply for roles abroad

Shoppers walk past H&M's flagship store at Somerset in Singapore on May 19, 2026. (Photo: CNA/Liew Zhi Xin)



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Ang Hwee Min
Davina Tham
Davina Tham & Ang Hwee Min
04 Jun 2026 06:00AM (Updated: 04 Jun 2026 01:39PM)
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SINGAPORE: Employees who lose their jobs in Singapore are considered to have been retrenched even if new or similar roles in their organisations are available overseas which they successfully apply for, the Manpower Ministry (MOM) and National Trades Union Congress (NTUC) have told CNA.

Responding to queries, NTUC said it was concerned about “practices where workers are asked to reapply for roles locally or for roles that have moved overseas but (are) presented as new opportunities” amid business restructuring.
 

More retrenched white-collar workers in Singapore seeking unions’ help​

Get ST's newsletters delivered to your inbox
caption

In 2025, the NTUC handled over 3,900 retrenchment and termination-related cases for professionals, managers and executives (PMEs), five per cent more than in 2024.

ST PHOTO: AZMI ATHNI

Google Preferred Source badge

Published Jun 08, 2026, 05:00 AM
Updated Jun 08, 2026, 12:42 PM

Listen
SINGAPORE – More white-collar workers are seeking help with unions and trade associations after losing their jobs.

The National Trades Union Congress has also seen more cases of retrenchments due to business restructuring recently, said its assistant secretary-general Patrick Tay.

In 2025, NTUC handled over 3,900 retrenchment and termination-related cases for professionals, managers and executives (PMEs), 5 per cent more than in 2024.
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