Singapore stocks rise despite trade tensions as Keppel, Starhub eye M1

Singapore's benchmark index gained ground on September 25, closing at 5,710.65 points as investors balanced concerns over escalating trade tensions against domestic corporate developments. The advance came despite headwinds from rising US Treasury yields and uncertainty surrounding discussions between US President Donald Trump and Chinese President Xi Jinping.

Telecommunications stocks drew attention as Keppel and Starhub held discussions regarding a potential deal involving M1. The sector activity underscored investor interest in consolidation opportunities within Singapore's competitive telecoms landscape, even as broader market sentiment remained tempered by international trade developments.

In a sign of confidence in the tech-enabled services space, executives at ride-hailing and delivery platform Grab purchased additional shares following a decline in the company's stock price. The insider buying reflected management's belief in the company's medium-term prospects, despite near-term market volatility affecting growth-oriented equities.

Analysts noted that the index's resilience highlighted the market's ability to absorb external shocks through selective buying in domestic and regional plays. However, investors remained cautious given the uncertain geopolitical environment and its potential impact on regional trade flows and economic growth trajectories.