13 April 2026Markets & Economy
Singapore stocks near records as Dubai capital flees to safety
Singapore's Straits Times Index is virtually unchanged since the Iran war erupted — and that makes it the regional winner. While Dubai's market plunged 15% and Asia fell 4.9%, Singapore's stability plus the S$6.5 billion Equity Market Development Programme have created a magnet for nervous capital. High-dividend banks like DBS and OCBC comprise over 40% of the STI, offering steady returns as the Singapore dollar outperforms regional peers. The timing is perfect: Singapore positioned itself as a neutral financial hub just as Middle East volatility makes Dubai's loss Singapore's gain for wealth diversification.
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