Singapore's benchmark index rose as much as 1.1% intraday to a record 5,150.69.

CITIGROUP strategists including David Chave say excessive bullish positioning in U.S. tech, driven by ongoing AI enthusiasm, has pushed long bets to extremes and leaves the Nasdaq 100 particularly exposed. "Concentrated long exposure in the index 'increases the likelihood of profit-taking and long-covering on any negative catalyst', raising downside risk," they said. Since late March the S&P 500 has risen about 20% and the Nasdaq 100 about 33%; momentum indicators show the Nasdaq 100 has been overbought for nearly six weeks.

CPCA data: In May 2026 estimated wholesale and retail volumes of domestic new-energy passenger vehicles reached 1.36 million units, up more than 11% YoY and MoM, marking double‑digit growth and initial signs of sector recovery. Shipping disruptions in the Strait of Hormuz prompted two domestic retail price hikes for refined fuels, lifting pump prices by about 400 yuan/ton cumulatively; higher operating costs for gasoline vehicles are weighing on ICE demand and keeping the overall auto market under pressure while making new-energy vehicles the primary growth driver.