Yen surges as investors flee to safe havens; SGX chief to step down in 2027
Investors will be watching whether the yen can extend its gains and the euro can recover.
The Japanese yen strengthened against the US dollar and reached a one-year high against the euro, as global markets experienced a flight to safety. This resulted from disappointing technology and AI earnings, coupled with rising tensions in the Middle East, causing oil prices to surge. The yen's strength also pushed the euro down to a one-year low of 175.20 yen, with France and Italy's cost of living and public service declines sparking protests and subsequent sell-offs in stocks and bonds.
Singapore's real estate investment trusts (S-REITS) experienced a boost after they reported robust quarterly results and higher distribution per unit (DPU). Keppel DC REIT's DPU rose 11.7% year-on-year to 8.57 cents, while Frasers Centrepoint Trust (FCT) reported a record full-year DPU of 12.35 cents. Shares of both REITs climbed over the week.
Meanwhile, Singapore Exchange's chief Loh Boon Chye announced his intention to step down in mid-2027, sparking a search for his successor.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
