The STI was almost flat, trading around 4,911 in Thursday afternoon dealings after falling in the previous session following the Monetary Authority of Singapore’s (MAS) decision to keep monetary policy steady, while raising both its core and headline inflation forecasts to 1%–2% this year. Despite the higher inflation forecast, the MAS expects GDP growth to remain resilient in 2026. Traders were also cautious after the Fed held its rate, while fresh domestic data showed producer prices fell for the 1st time in five months, marking the steepest decline in six months. On a positive note, preliminary data showed Singapore’s GDP grew 4.8% in 2025, accelerating from 4.4% in 2024. Meanwhile, the unemployment rate was unchanged at 2% in Q4. Gains in energy, minerals, and utilities offset falls in consumer durables and communication. Sembcorp rose 3.0%, Singapore Technologies Engineering gained 0.6%, while Jardine Cycle & Carriage and Jardine Matheson Holdings fell 1.6% and 1.3%, respectively.