The Singapore Straits Times Index opened at 3933.41 points in the morning after opening on Wednesday (February 19), and then wrote a historical record. Among them, after announcing its latest results, UOB's share price also rose to a record $39.15.

Other large bank stocks also rose, with DBS and OCBC rising in the morning. As of 11:16, DBS Group's share price rose 0.55%, and OCBC's share price rose 0.34%.

The 2025 fiscal budget, released on Tuesday (February 18), proposed a series of measures to boost local stock markets.

The government said it will provide tax benefits to businesses and fund managers in Singapore to encourage them to list in Singapore. Fund managers who invest heavily in stocks of listed companies in Singapore can also receive tax benefits.

Earlier on February 13, the Securities Market Review Team of the Monetary Authority of Singapore proposed the first set of measures to strengthen the development of Singapore's capital market, including three tax incentives. The review team has submitted the recommendations to the Ministry of Finance, which has also accepted the recommendations.

It is worth noting that the Singapore Exchange (SGX) has recently experienced a “personnel earthquake” and the aftershocks have not dissipated. The market is waiting for the details of its subsequent reforms to be released.

Data released by the Singapore Stock Exchange recently showed that in January this year, the total transaction volume of Singapore's securities market increased by 1% year-on-year to 20.8 billion yuan. But the securities market trading volume fell 31% year-on-year to 19.1 billion shares, down from 27.7 billion shares in the same period last year.

After the SGX stock price fell sharply last Friday (14th), it continued to fluctuate in a stock price range below its previous level this week. As of 11:23 Wednesday, the stock price was 12.65 yuan, down 1.25% during the trading day.