Broker Name: CGS International
Date of Report: October 31, 2025

Excerpt from CGS International report.

• Report Summary
• The MSCI Singapore Free SGD index (SIMSCI) rose by 0.54% in October 2025, closing at 447.23 points. Singapore’s 3Q GDP growth and September NODX were better than expected, but the report notes this may be a temporary relief amid ongoing challenges such as rising inflation driven by transportation costs.
• Sector outperformers included Communications, Consumer Discretionary, and Real Estate, while earnings were a key driver of stock performance. Technical outlook indicates potential correction before long-term upside resumes, with a maintained SIMSCI target of 463.8 points and a long-term target of 482.0 points.

Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgsi.com