SGX’s first three US SDRs – Sea, Grab and SpaceX – end their debut with a muted performance
Published Wed, Jul 22, 2026 · 06:17 PM
[SINGAPORE] Singapore stocks ended higher on Wednesday (Jul 22) as global chip stocks rebounded, led by various semiconductor counters.
The benchmark Straits Times Index (STI) gained 1.2 per cent or 68.70 points to finish at 5,595.42. Across the broader market, gainers outnumbered losers 290 to 279 after 1.2 billion securities worth S$2.4 billion changed hands.
Yangzijiang Shipbuilding was the top gainer on Singapore’s blue-chip index, rising 5.6 per cent or S$0.21 to S$3.94.
The worst performer among the STI constituents was Singapore Airlines , which declined 1.8 per cent or S$0.14 to S$7.65.
The three local banks ended higher. DBS gained 2.3 per cent or S$1.66 to close at S$73.66, OCBC rose 1.9 per cent or S$0.54 to S$29.18, and UOB was up 0.7 per cent or S$0.32 at S$43.04.
Within the iEdge Singapore Next 50 Index, ValueMax was the top gainer with a 4.8 per cent or S$0.045 rise to S$0.99, while CSE Global was the biggest decliner, falling 3.8 per cent or S$0.05 to S$1.25.
Key regional indices were mixed. Hong Kong’s Hang Seng Index lost 1 per cent, Japan’s Nikkei 225 fell 0.2 per cent and the FTSE Bursa Malaysia KLCI declined 0.5 per cent, while South Korea’s Kospi was up 0.7 per cent.
James Ooi, market strategist at Tiger Brokers, said reports that major chip player TSMC could raise chipmaking prices by up to 10 per cent in 2027 were interpreted as “signs of sustained demand and continued industry pricing power”.
The Singapore Exchange also saw the debut of three of its first US Singapore Depository Receipts (SDRs) – Sea, Grab and SpaceX – at Wednesday’s market open.
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They turned in a muted performance, with the SpaceX US SDR (100 to 1) opening at S$1.63 and ending at S$1.61.
The Grab US SDR (2 to 1) opened at S$2.30 and closed at S$2.27, and the Sea US SDR (50 to 1) started at S$2.78 and finished at S$2.74.
Still, Ooi noted that the debut is a “positive milestone” for Singapore’s equity market.
“The addition of high-profile technology stocks is expected to broaden market participation by attracting younger and growth-oriented investors, while further broadening investment themes in Singapore’s equity market beyond established income‑focused offerings,” he said.
He added that expanding the SDR line-up could also boost trading activity, generating positive spillover effects on liquidity across the wider market.
This article has been written with the assistance of AI and reviewed by a reporter
