<div id="readability-page-1"><div>[SINGAPORE] Singapore real estate investment trusts (S-Reits), aviation counters and property developers are set to lead gainers on the local bourse on Monday (Jun 15) after a US-Iran peace deal was announced – though analysts note that much of the geopolitical relief has already been priced in.The benchmark Straits Times Index (STI) was up 1 per cent or 50.82 points at 5,076.62 by midday, easing slightly from an intraday high of 5,085.19 in early trade.Across the broader market, gainers outpaced losers 367 to 183, after 862.6 million securities worth S$967.4 million changed hands.As at 2.11 pm, the top three gainers on the STI were Jardine Matheson , with a 5.7 per cent gain ahead of its investor day; Yangzijiang Shipbuilding , which was up 4.6 per cent; and Singapore Exchange (SGX), which climbed 3.3 per cent.Meanwhile, the biggest decliners on the blue-chip index were S-Reits. Frasers Logistics and Commercial Trust was down 1.5 per cent, Keppel DC Reit slipped 0.9 per cent, and Mapletree Industrial Trust shed 0.5 per cent.The local market’s upward trajectory comes on the back of confirmation that a formal peace treaty between the US and Iran will be signed on Jun 19 in Switzerland, effectively ending military operations and reopening the blockaded Strait of Hormuz.The positive sentiment reverberated across the region.As at midday, Japan’s Nikkei 225 had surged 5 per cent, South Korea’s Kospi had rallied 5.6 per cent, Australia’s ASX 200 was 1.3 per cent higher, and the FTSE Bursa Malaysia KLCI had ticked up 0.6 per cent.Analysts believe the initial oil supply shock has already been discounted by investors, including in the Singapore market.“The ceasefire is a net positive for the (Singapore) market but largely priced in,” said Glenn Thum, research manager at Phillip Securities Research, pointing to a roughly 20 per cent decline in oil prices from their peak and earlier record highs on the STI.As oil prices and shipping disruptions begin to correct, analysts are mapping out how different Singapore sectors will fare under the de-escalation.<h2>Aviation to fly high</h2>Plunging fuel costs are set to hand immediate relief to aviation counters.By midday, Brent crude futures had tumbled 4.1 per cent to US$83.75 a barrel, and US West Texas Intermediate had fallen 4.7 per cent to US$80.87.Thum named Singapore Airlines (SIA) the “clear winner” of the peace deal, while RHB Singapore head of equity research Shekhar Jaiswal said that other related names in the aviation sector, such as Sats , will benefit from airspace reopening as well.SIA was trading 2.1 per cent higher at S$7.15 at 2.15 pm, and Sats was 1 per cent up at S$3.98.<h2>S-Reits, property</h2>Yield-sensitive S-Reits also stand out as beneficiaries of the geopolitical resolution.They could be secondary beneficiaries of the ceasefire, “as lower forward inflation could temper expectations of rate hikes”, Jayden Vantarakis, head of Asean equity research at Macquarie Capital, told The Business Times.Property developers are also expected to see positive impacts from lower rate expectations and sticky safe-haven flows.Jaiswal noted that Singapore’s structural appeal as a financial centre has been reinforced by the crisis rather than merely benefiting temporarily, meaning those safe-haven capital flows are likely to be sustained.<h2>Offshore and marine, defence gains to moderate</h2>Conversely, sectors that rode on the war’s “urgency premiums” are expected to see their momentum ease. Urgency premium refers to the pressure on exploration and production companies to rapidly deploy capital to secure new supply.According to RHB, offshore and marine names face a softer outlook as “the urgency premium on exploration and production spending fades at lower oil prices”.Likewise, Thum said “oil-leveraged names like Seatrium give back the war-driven premium”.“This should lead to a more disciplined, cost-conscious and restricted capital expenditure,” Jaiswal noted.At 2.15 pm, shares of Seatrium were trading at S$1.99, up 2.6 per cent.Other shipping counters were also trading higher. Nam Cheong gained 9.4 per cent, Samudera Shipping was up 2.6 per cent and Marco Polo Marine added 2.8 per cent.Similarly, while defence procurement will remain elevated, the urgency to do so could moderate, RHB said.At 2.18 pm, shares of ST Engineering stood at S$10.69, 1.1 per cent higher.Jaiswal gave a “reduce” rating for both sectors.<h2>Neutral outlook for lenders</h2>After opening higher, Singapore’s banking trio turned in a more moderate performance by midday. DBS edged up 0.2 per cent to S$63.34, UOB rose 0.9 per cent to S$38.50, and OCBC gained 1.1 per cent to hit S$23.75.Jaiswal said that banks may see a modestly less favourable net interest margin trajectory.However, he noted that the wealth management tailwind is structural, not cyclical. This means that lenders with sizeable wealth management exposure such as OCBC and DBS will likely continue to see strong support.He rated the sector as “maintain”.<h2>Regional optimism, but caution warranted</h2>Despite the market optimism, analysts warned that the period leading up to the Jun 19 ceasefire signing remains critical, with several practical hurdles that need to be addressed before energy markets can fully normalise.Jaiswal said that even if a deal is reached, significant work remains to restore oil flows. This includes clearing mines from the Strait of Hormuz, restarting idled production fields and repairing energy facilities damaged during the conflict.“Until the signing... a degree of caution is warranted,” he said.</div></div>

Singapore's market is hot. SGX daily turnover jumped 79% to S$2.4 billion in May, the strongest since October 2007, and the STI is hovering near its record. Banks lead, OCBC up about 18% at fresh highs and DBS at new highs, while cheaper oil helps Singapore Airlines. At record highs, can this bull run still be chased?

Singapore's market is hot. SGX daily turnover jumped 79% to S$2.4 billion in May, the strongest since October 2007, and the STI is hovering near its record. Banks lead, OCBC up about 18% at fresh highs and DBS at new highs, while cheaper oil helps Singapore Airlines. At record highs, can this bull run still be chased?

SGX Turnover At 18-Year High: Chase It?

Singapore stocks rose following a US-Iran peace deal, with aviation and property sectors gaining from lower oil prices and rate expectations. S-Reits declined as geopolitical relief was largely priced in. Regional markets also rallied. Analysts view the ceasefire as positive but discounted, noting benefits for airlines like SIA and potential headwinds for offshore marine and defense stocks.

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JMH USD

YZJ Shipbldg SGD

Frasers L&C Tr

Keppel DC Reit

Mapletree Ind Trust

SATS

Macquarie Group Limited

Seatrium

SamuderaShipping

MarcoPolo Marine

ST Engineering

OCBC Bank

YZJ Shipbldg RMB

SIA Engineering

SATS R1

SATS R

MarcoPolo MarW230127

United Overseas Bank (UOB)

US-Iran peace deal: S-Reits, aviation stocks, developers on investors’ radar as potential winners