Singapore

• Singapore's Straits Times Index (STI) dropped 20.06 points or 0.4% to close at 4,921.90 on May 8, 2026, amid a broader regional retreat. • Hongkong Land was the worst performer among STI constituents, plunging 5.2% or US$0.45 to US$8.25. • OCBC bucked the trend, rising 0.2% to S$21.92 after reporting a 5% quarterly net profit increase to S$1.97 billion for Q1 ended March 31.

• Singapore's Infocomm Media Development Authority (IMDA) announced on May 8 a major initiative to upskill 40,000 tech professionals over the next three years, including final-year information and digital technologies students, to help them stay current with rapid AI advances. • The program expands the TechSkills Accelerator Programme (TeSA) launched in 2016 and falls under the National AI Impact Programme (NAIIP), with strategic partnerships with industry partners to develop AI fluency courses. • AIxTech, a flagship program created by IMDA and AI Singapore, will equip professionals with technical and responsible AI skills throughout the software engineering life cycle, providing access to AI coding tools like Claude, Codex, and Gemini.

• Disney revealed D23 Asia: The Ultimate Disney Fan Event will debut in Singapore in 2027, following the announcement of Disney Cruise Line's regional launch. • The three-day convention will feature Hollywood stars, storytellers, live showcases, behind-the-scenes presentations, performances, interactive experiences, and exclusive merchandise. • No specific dates, locations, or ticket information have been released yet; updates will come via the Singapore Tourism Board on Instagram.

• Chinese semiconductor equipment makers CCtech and Nextool Technology are deepening presence in SEA's OSAT centers as Malaysia and Singapore emerge as packaging and testing hubs. • Expansion driven by global supply chain shifts, southbound strategies, surging AI demand, and power electronics growth. • The moves signal a new upcycle for test and packaging equipment amid regional semiconductor boom.

• A KPMG study indicates Singaporean respondents have grown more reliant on AI tools, leading to positive efficiency improvements. • Usage trends reflect broader adoption in daily tasks, with respondents reporting tangible productivity benefits from AI integration. • The findings underscore Singapore's proactive AI embrace amid national strategies for technological advancement.

• Workers' Party MP He Ting Ru highlighted Singapore as one of the most vulnerable economies to AI disruption during a parliamentary motion on AI transition. • She urged recognition of uncomfortable realities beyond the nation's praised infrastructure and upskilling initiatives. • Singapore's approach, cited by BCG, IMF's Kristalina Georgieva, and others, focuses on confronting AI opportunities and risks through worker reskilling.

• GXS Bank and MariBank, Singapore's digital banks, posted increased interest income for FY2025 ended in 2025, driven by sustained lending activities. • Both banks are leaning on South-east Asia markets to fuel profitability, expanding beyond Singapore into regional operations. • The growth highlights lending as a core strategy amid competitive digital banking landscape in ASEAN.