--- title: "The US-Iran conflict impacts the local stock market, with the Shanghai Composite Index nearly all declining, while defense and gold stocks rise against the trend | Lianhe Zaobao" description: "The military actions of the United States and Israel against Iran have escalated, leading to a setback in global stock markets. The Singapore Straits Times Index opened down more than 2% on Monday. Lo" type: "news" locale: "en" url: "https://longbridge.com/en/news/277397378.md" published_at: "2026-03-02T03:22:17.000Z" --- # The US-Iran conflict impacts the local stock market, with the Shanghai Composite Index nearly all declining, while defense and gold stocks rise against the trend | Lianhe Zaobao > The military actions of the United States and Israel against Iran have escalated, leading to a setback in global stock markets. The Singapore Straits Times Index opened down more than 2% on Monday. Local blue-chip stocks almost all fell, with only Olam International and Sembcorp Industries rising, the latter seeing a price increase of 1.705%. Gold prices rose due to the turbulent situation, with related stocks such as Zhongse Gold Mining rising over 12% The United States and Israel launch military actions against Iran, with the conflict between the two sides escalating and impacting global stock markets. The Singapore local stock market opened lower on Monday (March 2); the Straits Times Index fell over 2%, marking the first such decline since April 2025 when U.S. President Trump announced reciprocal tariffs. Local blue-chip stocks almost all declined, with only two Straits Times Index constituents rising at the open: Wilmar International and ST Engineering. ST Engineering, a defense stock, saw its price quickly rise after the market opened on Monday, reporting SGD 10.14 at 10:40 AM, an increase of 1.705%. The defense business of ST Engineering accounts for a significant portion of its overall revenue, and its stock price has increased by as much as 87.25% over the past year. Wilmar International's gains peaked at 1.71% before retreating, with the increase narrowing to 0.284%, reporting SGD 3.53 at 10:43 AM. On the other hand, the turbulent situation has led to a continuous rise in gold prices, benefiting related stocks such as gold mining and jewelry. CNMC Goldmine's stock price rose over 12%, increasing by 12.139% to SGD 1.94; other mining and jewelry stocks generally retreated after an initial rise at the open. #### Further Reading Local stock market opened down over 100 points on Monday Middle East conflict intensifies, gold price rises nearly 2% at one point; analysis suggests it may reach USD 6,300 by year-end The local stock market is also under pressure in multiple sectors. Due to military conflicts affecting air travel and driving up oil prices, airline stocks are the most significantly impacted, with declines around 6%. Singapore Airlines (SIA) saw a drop of nearly 7% in the morning, reporting SGD 6.74 at 10:45 AM, down 6.128%. SATS also fell 6.378%, reporting SGD 3.67; China Aviation Oil (Singapore) dropped 5.941%. Energy and bank stocks are similarly affected. Keppel plummeted straight down in the morning, falling 4.205% to SGD 12.53 by 10:48 AM; Sembcorp Industries fell 1.797% to SGD 6.01. All three local banks had dropped over 1% by 10:50 AM, with Oversea-Chinese Banking Corporation (OCBC) and DBS Group falling 2.1% and 2.05% respectively, while United Overseas Bank (UOB) dropped 1.65% ### Related Stocks - [82824.HK - EFUND GOLD MI-R](https://longbridge.com/en/quote/82824.HK.md) - [09824.HK - EFUND GOLD MI-U](https://longbridge.com/en/quote/09824.HK.md) - [SGDJ.US - Sprott JR Gold Miners ETF](https://longbridge.com/en/quote/SGDJ.US.md) - [SGDM.US - Sprott GLD Miners Etf](https://longbridge.com/en/quote/SGDM.US.md) - [GDXJ.US - VanEck Junior Gold Miners ETF](https://longbridge.com/en/quote/GDXJ.US.md) - [GLD.US - SPDR Gold Shares](https://longbridge.com/en/quote/GLD.US.md) - [IAU.US - iShares Gold Trust](https://longbridge.com/en/quote/IAU.US.md) - [601899.CN - Zijin Mining](https://longbridge.com/en/quote/601899.CN.md) - [02824.HK - EFUND GOLD MI ETF](https://longbridge.com/en/quote/02824.HK.md) - [518850.CN - ChinaAMC Gold ETF](https://longbridge.com/en/quote/518850.CN.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 中东战火升级搅动全球市场！标普 500 期货跌近 1%，油价一度飙升 13%，黄金逼近 5400 美元 | 本轮市场动荡的核心在于对全球原油供应的冲击。原油价格盘初最高飙升 13%，目前涨幅显著回落，表现较预期温和，霍尔木兹海峡实际关闭的消息令全球原油市场陷入剧烈震荡。据测算 ，一旦霍尔木兹海峡持续封锁，油价可能冲至每桶 108 美元。 | [Link](https://longbridge.com/en/news/277377674.md) | | 印度放松监管，允许股票基金配置金银，持仓比例最高 35%！ | 印度证券交易委员会修订规则，允许主动管理型股票基金将最高 35% 的资产配置于黄金、白银及相关工具，为规模达 3840 亿美元的市场拓宽投资边界。此举正值全球贵金属需求升温，今年 1 月印度黄金 ETF 资金流入首超股票基金。 | [Link](https://longbridge.com/en/news/277008783.md) | | 美股夜盘异动：金价上涨与地缘冲突加剧，Kinross Gold 夜盘涨 3.24% 迎来市场信心回暖 | Kinross Gold 夜盘涨 3.24%；纽蒙特矿业夜盘涨 2.71%，成交额达到 5.78 百万美元；科尔黛伦矿业夜盘涨 3.79%，成交额达到 2.84 百万美元；巴里克矿业夜盘涨 2.72%，成交额达到 1.27 百万美元。 | [Link](https://longbridge.com/en/news/277400695.md) | | 投资回报率——Marty Fridson 解析为何黄金在重要竞赛中胜过道琼斯指数 | 马蒂·弗里德森讨论了金融市场的最新里程碑，黄金价格达到了每盎司 5000 美元，道琼斯工业平均指数达到了 50000 点。黄金的价格在 2022 年至 2024 年间翻了一番，主要受到地缘政治不稳定和通货膨胀担忧的推动，而道琼斯的上涨则较为 | [Link](https://longbridge.com/en/news/277153832.md) | | 由于金价上涨提振了收益，中色金矿的下半年利润激增 384.1% | 中色金矿报告称，2025 财年下半年净利润增长 384.1%，达到 2620 万美元，主要受黄金价格飙升和产量增加的推动。收入增长 112.7%，达到 7560 万美元。公司提议 2025 财年末期股息为 0.008 新元，特别股息为 0. | [Link](https://longbridge.com/en/news/277035915.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.