STI breaks 4,000 mark in strongest showing yet, but risks remain

SINGAPORE - It has been a busy week on the Singapore stock market, with the benchmark Straits Times Index (STI) breaking the 4,000-point mark on July 2, and then

hitting an all-time high of 4,019 points

on July 4, before eventually closing strong at 4,013 points.

Local property stocks saw the biggest gains this week, with real estate developer UOL Group logging a 7 per cent increase to hit a 52-week high of $6.70 on July 2, after the court approved the group’s

collective acquisition of Thomson View Condominium

with CapitaLand Development for $810 million. Hongkong Land and City Developments also posted gains this week.