US-Iran Talks Progress Lift Asian Stocks: STI Up 0.22%, AI Leads

## US-Iran Talks Progress Lifts Asian Markets Progress in US-Iran peace talks eased market fears of a breakdown, lifting most Asian stocks. Singapore's Straits Times Index (STI) rose 0.22% or 11.31 points on Monday (June 22) to close at 5204.01 points. The STI opened lower and traded sideways but rebounded in late trade, returning to the 5200 level. ## Late Rebound: Consensus on Roadmap and Technical Talks OANDA Senior Market Analyst Wang Suiqin said the STI's late rebound was mainly driven by positive news from US-Iran talks. The two sides will continue technical-level consultations and agreed on a roadmap to reach a final agreement within 60 days. ## Japan and Regional Markets: AI and Semis Propel Nikkei to New Record High In regional markets, Japan's Nikkei 225 hit a new closing high, rising 1.55% to 72353.96 points, led by AI and semiconductor stocks. Nikkei reported earlier that Japan's government plans to promote public and private investment totaling 370 trillion yen (about $2.29 trillion) in 17 fields including AI, semiconductors, and aerospace by 2040. Market expectations of increased investment in growth sectors boosted semiconductor, robotics, and AI-related tech stocks. Seoul, Shanghai, Shenzhen, and Taiwan stocks also rose, with gains between 0.69% and 2.75%; Hong Kong and Sydney fell 0.65% and 0.18% respectively. ACCM Research Director Glenn Yin noted that Monday's trading showed AI remains the strongest factor hedging against geopolitical and high interest rate risks. Nomura equity strategist Wataru Akiyama said AI-related companies were again the main driving force behind the rally, but markets remain highly vigilant about Iran and Middle East developments. ## Focus on PCE and Fed: Core Inflation May Turn More Hawkish Beyond geopolitics, Wang Suiqin said markets also focus on US PCE data due Thursday (June 25). If core inflation exceeds 3.3%, Fed monetary policy could turn more hawkish, strengthening the USD and triggering profit-taking in Singapore stocks. However, with the STI still above its 20-day moving average, Wang is bullish on the near-term outlook, with resistance at 5350 points. ## Singapore Market Summary: Active Trading, Stock Divergence Singapore stocks saw 1.26 billion shares traded with a total value of S$2.01 billion; 270 gainers vs 306 losers. Among STI constituents, 12 rose, 3 flat, 15 fell. - Top gainer: DFIRG up 3.8% to US$3.82 - Top loser: JMH down 3.95% to US$62.2 ## Stock Moves: Note Pricing and Share Placement GuocoLand Limited's subsidiary GLL IHT Pte. Ltd. completed pricing of notes totaling S$110 million with a 2.5% coupon, expected to be issued on June 30. The notes are part of the company's S$3 billion multi-currency MTN program, proceeds for working capital of GuocoLand and its subsidiaries. Notes mature September 30, 2030, with semi-annual interest payments on March 30 and September 30, first payment March 30, 2027. GuocoLand shares fell 0.46% to S$2.18 on Monday. Fashion retailer FJ Benjamin placed 42 million new shares at 0.72 cents each to two investors, including Eu Yan Sang fourth-generation descendant Yee Ming Eu. The company said Yee Ming Eu subscribed to 14 million shares, total S$100,800; another investor Rosslyn Leong Sou Fong subscribed to the remaining 28 million shares, total S$201,600. After placement, Yee Ming Eu and Rosslyn Leong hold 1.14% and 2.28% of the company respectively. FJ Benjamin shares closed at 0.8 cents, unchanged. For more Singapore stock market info, visit related pages.