
Stock Market Today
| 3 October 2025
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The blue-chip gauge of the Republic, the local benchmark, soared to a new record of 4,395.21 points on Thursday (Oct 2), after surging 72.09 points or 1.7%, fuelled by the expectation of an interest rate cut by the US Federal Reserve. The benchmark broke the previous record of 4,355.82 that it reached on Sep 11, with all but two of the 30 component stocks ending higher on Thursday. DBS also clocked a record high at S$52.84, after rising S$1.26 or 2.4%. Its peers, however, failed to reach fresh highs, although the shares of UOB increased S$0.39 or 1.1% to S$35.07 and those of OCBC were up S$0.25 or 1.5% at S$16.76.
Wall Street’s three major indexes marked record closing highs with modest gains on Thursday (Oct 2W), largely thanks to support from the technology sector, while investors cautiously monitored private labour market data on the second day of a US government shutdown. The benchmark index rose very slightly, with its valuation already at its highest level since 2020, while the Nasdaq, up 0.4%, was the biggest gainer on the day, with help from heavyweight technology companies including artificial intelligence chip leader Nvidia, Apple and Broadcom. With no official government data available because of the shutdown, investors were monitoring information from other sources.
Singapore Technical Highlights
* ^ denotes companies placed on SGX Watch-list
TOP 5 GAINERS & LOSERS
Events Of The Week
SG
Keppel’s Bifrost Cable System which directly links Singapore to the US via Indonesia achieves “ready for service” status and will start carrying commercial traffic in the coming weeks.
Cordlife, the cord-blood bank shares fell by 18 per cent on Thursday (Oct 2) morning, after it was served a notice of intent or a one-year suspension of its cord-blood banking services by the Ministry of Health (MOH).
The S$810 million sale of Thomson View condominium has finally been completed, UOL and Singapore Land Group (SingLand) said in a bourse filing on Thursday (Oct 2), after earlier objections by a small group of owners stalled the deal.
The Land Transport Authority (LTA) on Thursday (Oct 2) awarded an S$8.1 million contract to pilot autonomous buses on public services to a consortium comprising BYD, MKX Technologies and Zhidao Network Technology.
US
Tesla reported a surprise increase in quarterly vehicle sales as US consumers accelerated electric-car purchases before federal tax credits expired. The company delivered a record 497,099 vehicles worldwide during the period, up 7.4% from a year ago.
Microsoft’s deal with neocloud company Nebius Group will provide computing power to internal teams creating large language models and a consumer AI assistant. As part of the deal, Microsoft will get access to more than 100,000 of Nvidia’s latest GB300 chips.
Apple has hit pause on a planned overhaul to its Vision Pro headset to redirect resources towards a more urgent effort: developing smart glasses that can rival products from Meta Platforms.
Yahoo is in advanced talks to sell AOL to Italian technology company Bending Spoons for about US$1.4 billion, four sources familiar with the matter said, as the Apollo Global Management-backed firm sheds one of the most recognisable names of the early Internet era.
Gold eased on Thursday (Oct 2) from the record high hit the day before, pressured by profit-taking and a slight uptick in the US dollar, although expectations of further US rate cuts and political uncertainty lent some support to prices.
Source: SGX Masnet, Bloomberg, Channel NewsAsia, Reuters, CNBC, WSJ, The Business Times, The Edge Singapore, PSR
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