STI slides 1.2% as Brent price rises above US$100 The Singapore Straits Times Index (STI) closed lower on Thursday (April 23, 2026), dropping 1.2 percent or 58.61 points to 4,944.11, as Brent crude oil prices surged above US$100 per barrel amid escalating tensions in the Middle East. The decline followed a broader market trend where losers outperformed gainers, with 389 stocks falling against 226 advancing. A total of 1.8 billion securities were traded, valued at S$2.3 billion. Thai Beverage (ThaiBev) was the standout performer among STI constituents, rising 3.7 percent to S$0.425, driven by a S$0.015 increase. It was one of four STI stocks that managed to post gains. Wilmar International, Seatrium, and Keppel DC Reit also closed higher, with Wilmar up 0.5 percent to S$3.91, and Seatrium and Keppel DC Reit each rising 0.4 percent to S$2.37 and S$2.38, respectively. Hongkong Land was the worst performer, plunging 4 percent to US$7.60. Local banks faced pressure, with DBS falling 0.4 percent to S$57, OCBC dropping 3.5 percent to S$21.80 as it went ex-dividend, and UOB sliding 0.3 percent to S$36.90. Within the iEdge Singapore Next 50 Index, Olam led gains with an 8 percent rise to S$1.04, while Hong Leong Asia fell 4.4 percent to S$3.25. Regional markets mirrored the volatility, with Hong Kong’s Hang Seng Index losing 1 percent, Japan’s Nikkei 225 falling 0.8 percent, and South Korea’s Kospi rising 0.9 percent. Vishnu Varathan, head of macro strategy for Asia Pacific at Mizuho Securities (Singapore), attributed the oil price surge to persistent tensions in the Strait of Hormuz, where both the U.S. and Iran have engaged in confrontational actions. He noted that these flare-ups have pushed Brent crude above US$100 per barrel and dampened risk appetite. The U.S.#brent_crude_oil #singapore_straits_times_index #thai_beve #wilmar_international #seatrium
