Gate News message, April 22 — Singapore’s small and medium-sized enterprises (SMEs) continued their expansion streak in the first quarter of 2026, with OCBC Bank’s SME index rising to 51.6 from 50.8 in Q4 2025, marking the fourth consecutive quarter of growth. However, the ongoing Middle East conflict—which began on Feb 28—threatens to slow momentum as rising oil, energy, and freight costs strain operating margins and disrupt supply chains.
The OCBC SME index, compiled from transactional data of over 100,000 SME customers with annual revenue up to $30 million, uses a 50-point threshold where readings above 50 signal expansion and below 50 indicate contraction. Collections from customers rose 16.9% year-on-year during Q1, while payments to suppliers increased 16%.
Domestic-facing retail delivered the strongest performance with a reading of 53.4—its highest since the index launched in 2021—supported by inbound tourism and stable macroeconomic conditions. Among outward-facing sectors, manufacturing posted 51.6 (up from 51 in Q4) and information and communication technology (ICT) registered 51.4 (up from 51.1), with ICT collections and payments rising 22.2% and 16.5% respectively.
OCBC warned that a prolonged Middle East crisis poses escalating risks, particularly for manufacturing segments reliant on liquefied natural gas imports through the Strait of Hormuz and resource-intensive ICT operations. Business sentiment weakened, with 22% of SMEs expecting deterioration over the next six months—a seven percentage-point increase from the previous quarter—while 26% reported current conditions had worsened.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ProCap Financial and Kalshi Launch Predictive Market Research Product
Gate News message, April 22 — ProCap Financial, backed by crypto entrepreneur Anthony Pompliano, has partnered with prediction market operator Kalshi to launch a professional research product tailored to predictive markets. ProCap will access Kalshi's data through a direct pipeline and employ AI age
GateNews34m ago
Crypto Fear and Greed Index Falls to 33, Signaling Panic Conditions
Crypto Fear and Greed Index fell to 33, down from yesterday, signaling panic. The 7-day average is 27 and the 30-day average 16, indicating sustained bearish sentiment over the past month.
The Crypto Fear and Greed Index fell to 33, signaling panic in the market. The 7-day average is 27 and the 30-day average is 16, indicating bearish sentiment has persisted for a month.
GateNews1h ago
Trump’s nominee for Fed chair: won’t be a White House puppet—crypto assets will become the new financial normal
Warsh emphasized the Federal Reserve’s independence at the hearing, denied being a White House puppet, and did not commit to rate cuts; if he takes office or adopts a more accommodative policy, it would be positive for risk assets such as Bitcoin. U.S. stocks fell amid the hearing and geopolitical risks, with the three major indexes down by about 0.6%. Changes in Middle East talks also intensified market risk sentiment.
ChainNewsAbmedia1h ago
Hong Kong Stocks Decline at Midday, Hang Seng Index Down 1.31%, Tech Index Falls 2.19%
Gate News message, April 22 — Hong Kong stocks declined at midday trading on April 22. The Hang Seng Index (Hong Kong's primary stock benchmark) fell 1.31%, while the Hang Seng Tech Index (tracking Hong Kong-listed technology companies) dropped 2.19%.
AI-related concept stocks weakened across the b
GateNews1h ago
TradFi Rise Alert: TW88 (MSCI Taiwan) Rises Over 1.5%
Gate News: According to the latest Gate TradFi data, TW88 (MSCI Taiwan) has surged by 1.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews3h ago
U.S. Stock Index Futures Open Higher, Nasdaq Futures Up 0.4%
Gate News message, April 21 — U.S. stock index futures opened higher on Wednesday, with Nasdaq futures (U.S. tech-heavy index futures) rising 0.4%, according to Gate's market data.
Spot precious metals also climbed, with gold
GateNews7h ago
