J.P. Morgan raises its target for the Singapore stock market as economic growth remains resilient.

JPMorgan has raised its target for the Singapore stock market, citing strong economic growth and a narrowing valuation gap with developed market assets as supporting factors for the market outlook. Analysts, including Khoi Vu, stated in a research report that in an optimistic scenario, the Straits Times Index is expected to climb to 7000 points over the next 12 months. This target represents a 22% upside from Tuesday's closing level. JPMorgan analysts noted, "A moderately improving economic environment will continue to support earnings per share growth and release fiscal space. High yields, stable exchange rates, and stock market development plans will help attract capital inflows." Driven by safe-haven demand amid geopolitical conflicts and market volatility triggered by artificial intelligence, the Singapore stock market has shown strong performance this year, with the benchmark index rising over 23% by 2026.