Singapore Market Focus - DBS Research 2026-06-04: 9 Stocks To Position For A July Rally

• We foresee a subdued June due to the FIFA World Cup and holiday season distractions in the US and Singapore. This lull presents a tactical opportunity to accumulate ahead of a July rebound.

June lull an accumulation window - Straits Times Index outlook

• STI’s action over the past month tilted towards our base case scenario, which calls for the benchmark to hold above 4700 with a choppy upward bias towards our 2026 year-end target of 5250. While we continue to favour our base case (50%), the probability of a prolonged stalemate has also risen. If this unfolds, Brent could revert to US$110/bbl and above.

• - Read this at SGinvestors.io -
• robust growth from AI-driven exports, financial services, Infocom and construction;
• MAS market revival measures such as EQDP and value unlock initiatives; and
• cautious optimism that the Strait of Hormuz can reopen by end-June.

• We foresee a quiet June due to the FIFA World Cup distraction, start of the US summer holiday, and the school holiday season in Singapore. We see this lull as a tactical opportunity to accumulate ahead of a July rebound, driven by market activity revival post-World Cup, seasonality and the possible reopening of the Strait of Hormuz.

US-Iran de-escalation emerges, but risks remain

• Read more at SGinvestors.io.

Kee Yan YEO CMT DBS Group Research | Fang Boon FOO DBS Group Research | https://www.dbs.com/insightsdirect/ 2026-06-04

---

---

---