Stock Market Today

19 May 2026

The Nasdaq and the benchmark S&P 500 closed lower on Monday (May 18) as investors took some profits in technology stocks while surging Treasury yields and high oil prices fuelled concerns that inflation and borrowing costs could stay elevated. The 10-year Treasury yield, the benchmark for global borrowing costs, climbed to its highest level since February 2025 earlier in the day on worries that high inflation would keep borrowing costs elevated due to the disruption of oil shipping through the Strait of Hormuz. The Dow Jones Industrial Average rose 159.95 points, or 0.32 per cent, to 49,686.12, the S&P 500 lost 5.45 points, or 0.07 per cent, to 7,403.05 and the Nasdaq Composite lost 134.41 points, or 0.51 per cent, to 26,090.73.

Singapore stocks closed higher on Monday (May 18), with a mixed performance in regional markets amid escalating geopolitical tensions and a surge in oil prices. Stocks gained 0.2 per cent or 7.67 points to finish at 4,996.75. ST Engineering led the gainers on Singapore’s blue-chip index, rising 4.1 per cent or S$0.42 to S$10.79. Worst performer was Hongkong Land, which fell 2.7 per cent or US$0.22 to US$7.99.


Singapore Technical Highlights

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TOP 5 GAINERS & LOSERS

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EVENTS OF THE WEEK

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SG

After months of anticipation and a heated public consultation, it appears the S$1.4 billion deal for Simba Telecom to buy the telecommunications business of M1 from asset manager Keppel is off the table. The Infocomm Media Development Authority (IMDA) threw a spanner into the works on Monday (May 18), as it abruptly announced the suspension of its evaluation of the M1-Simba consolidation application. Shares of Keppel fell as much as 5 per cent on Monday (May 18) morning after the M1-Simba deal fell through

Ever Glory United announced on Monday (May 18) that it has secured about S$230 million in new contracts, pushing the group’s total order book past S$900 million. The latest contracts are for projects by the Land Transport Authority (LTA) and Resorts World Sentosa. Besides the latest additions to the order book, Ever Glory pointed out that it also has contracts for commercial and office building projects.

Continued artificial intelligence-related demand is expected to support Singapore’s exports in the near term, economists said, after the Republic’s key exports sharply exceeded forecasts in April. Non-oil domestic exports (NODX) rose 24.5 per cent year on year in April, more than double the 10.9 per cent growth forecast by private-sector economists in a Bloomberg poll, Enterprise Singapore data showed on Monday (May 18).

Lendlease Global Commercial Reit posted a positive retail rental reversion of 12.2 per cent for the third quarter ended Mar 31, it said in a filing on Monday (May 18). The real estate investment trust (Reit) in March completed an acquisition of the remaining 30 per cent stake in PLQ Mall, achieving full control of the asset after initially acquiring the other 70 per cent in November 2025.

Coal producer Geo Energy Resources has secured two non-binding memorandums of understanding (MOUs) tied to its planned expansion into high value coking coal in Central Kalimantan. The company announced on Monday (May 18) that it had agreed to a US$50 million to US$100 million prepayment amount with multinational commodities trader Trafigura, to secure the future offtake of coal from its newly acquired miner Harfa Taruna Mandiri (HTM).

US

The US and China agreed to establish boards on trade and investment at the May 14-15 Trump-Xi summit, though US President Donald Trump said he did not discuss a possible extension of his tariff truce when he met with Chinese President Xi Jinping. Both nations will work to establish the councils to address mutual concerns over market access and agricultural products.

Chinese e-commerce giant Shein is acquiring US apparel retailer Everlane from majority owner L Catterton, according to media reports. The transaction values the San Francisco-based company at about US$100 million, a steep discount to the valuations it commanded during the height of the e-commerce boom.

Gold held a decline as a lack of progress in reopening the Strait of Hormuz continued to fan inflation concerns that sent bond markets tumbling. Bullion was trading around US$4,540 an ounce, after retreating almost 4 per cent last week.

Tesla chief Elon Musk said on Monday (May 18) that he expects fully self-driving cars without human safety monitors to become more widespread in the US later this year, after already being introduced in Texas.

Source: SGX Masnet, Bloomberg, Channel NewsAsia, Reuters, CNBC, WSJ, The Business Times, The Edge Singapore, PSR


RESEARCH REPORTS


Market Journal articles powered by PhillipGPT

Meta Platforms Inc. Upgraded to BUY Despite Higher CAPEX Concerns, US$795 Target Price

Singapore Construction Sector Poised for Growth Despite Margin Pressures, Government Support Offsets Cost Headwinds

Sheng Siong Group Delivers Strong Growth with Market Share Gains, Target Price Raised to S$3.16


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