Signycle · Singapore Signal

Straits Times Index

Source: SGX · 27 Apr 2026

3,280 pts

NEUTRAL

BUY <2,500 SELL >3,800

The Straits Times Index is the benchmark index for Singapore's stock market, comprising the top 30 SGX-listed companies by market cap. It is the single most-watched indicator by Singapore investors and provides a macro-level read on the SGX cycle.

Commodity signals now: Brent $107.5/bbl (sell) · BDI 2567 pts (neutral) · Flying Hours 104 (neutral) · PMI 51.4 (neutral) · EUR 10Y 2.93% — All 18 signals →

Signal Thresholds

BUY zone: STI falls below 2,500 — severe market dislocation, broad SGX buy signal

Near sell: STI 3,400–3,800 — late-cycle territory, reduce cyclical exposure

SELL zone: STI above 3,800 — broad market peak, defensives preferred

Key Cycle Dates

Date	Level	Event
Mar 2020	2,233	COVID crash — STI trough, strong BUY signal
Feb 2021	2,980	Vaccine rally — recovery phase begins
Jan 2022	3,402	Rate normalisation peak — near sell zone
Oct 2022	2,969	Global rate hike correction — re-entry signal
Feb 2024	3,215	Mid-cycle consolidation
Feb 2026	3,450	Pre-Hormuz crisis peak
Apr 2026	3,280	Hormuz crisis correction — neutral zone

What Drives the STI

The STI is dominated by three sectors that together account for over 60% of index weight:

Sector	Weight	Key signal	Stocks
Financials	~45%	EUR 10Y · PMI	DBS, OCBC, UOB
Industrials	~20%	PMI · Brent	Keppel, Sembcorp, ST Engineering
REITs	~15%	EUR 10Y	Mapletree, Ascendas, CapitaLand
Telecoms	~8%	PMI	Singtel
Transport	~7%	Flying Hours · Brent	SIA, SATS

STI vs Signycle Cycle Score

The STI correlates strongly with Signycle's overall Cycle Score. When the Cycle Score is below 40, STI has historically been in or near buy territory. When above 75, STI tends to be in late-cycle territory.

Cycle Score	STI Zone	Action
0–35	BUY	Accumulate SGX cyclicals broadly
35–60	NEUTRAL	Hold — select sector opportunities
60–75	NEAR SELL	Reduce cyclicals, add defensives
75+	SELL	Move to cash and defensives

Current Cycle Score: 68/100 — Near sell territory. STI at 3,280 is consistent with late mid-cycle.

STI Constituent Stocks on Signycle

These STI constituents are tracked on Signycle with individual signal analysis:

D05

DBS Group

EUR 10Y · PMI

O39

OCBC Bank

EUR 10Y · PMI

U11

UOB

EUR 10Y · PMI

U96

Sembcorp Industries

Brent · PMI

BN4

Keppel Corporation

Brent · Rig util.

C6L

Singapore Airlines

Flying Hours

S63

ST Engineering

NATO Defence · PMI

F34

Wilmar International

Urea · PMI

See all 25 SGX stocks on Signycle →

How to Use STI as a Signal

The STI is most useful as a confirmation signal — not a primary driver. Here is the recommended approach:

Start with macro signals — check Brent, EUR 10Y, PMI and BDI on Signycle Live Signals
Confirm with STI level — if macro signals say BUY but STI is already above 3,600, be cautious
Use STI for sector rotation — when STI is rising, financials (DBS, OCBC, UOB) typically lead. When STI is falling, REITs with high yields provide support
Watch STI 200-day MA — STI crossing below its 200-day moving average has historically preceded 6–12 months of underperformance

Current setup: STI at 3,280 with Cycle Score 68/100 — mid-to-late cycle. Hormuz reopening today is a near-term positive catalyst. Watch whether STI can hold above 3,200 as a key support level.

Related Signals and Pages

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The STI signal is updated manually based on SGX closing prices. This page is for informational purposes only and does not constitute financial advice. See our disclaimer.