JPMorgan Predicts Singapore Stocks to Surge to 7,000 by 2026

JPMorgan Chase has upgraded its outlook for Singapore stocks, predicting that the Straits Times Index (STI) could reach as high as 7,000 over the next 12 months in a bull case scenario. This represents a potential 22% upside from current levels and reflects growing confidence in the city-state's economic growth.

The forecast is based on robust economic growth, a stronger Singapore dollar, and demand for safe-haven assets amid geopolitical tensions and AI-driven market volatility. The STI has already gained more than 23% this year, outperforming Hong Kong's benchmark index.

JPMorgan analysts believe that elevated valuations are sustainable as the market reprices closer to developed-market peers driven by high yields and currency stability. Top stock picks in the Singapore market include DBS Group Holdings, Singapore Exchange, Keppel, and UOL Group.