JPMorgan Upgrades Singapore Stocks to Overweight, Expects 6% Gain

JPMorgan Chase & Co. has upgraded Singapore equities to an 'overweight' position, citing supportive government policies, attractive dividend yields, and the resilience of the fiscal environment as key factors. The upgrade follows Singapore's recent budget announcement, which included measures aimed at revitalizing the economy, particularly for households and businesses. Analysts have set a bullish target for the Straits Times Index at 4,200, suggesting a potential growth of approximately 6% from current levels, following a record high of 3,949.65. The positive outlook is bolstered by a strong performance in banking stocks and the anticipation of continued economic activity driven by government support and investment in innovation. In recent years, Singapore's stock market has seen significant gains, with a 17% rise last year and a 4% increase so far in 2025. Overall, the market sentiment remains optimistic, with analysts believing that the government measures will sustain and enhance economic growth opportunities.