Investors are navigating an increasingly uncertain global environment. When the United States and Israel launched strikes on Iran in the final weekend of February 2026, markets reacted quickly.
Oil prices jumped as shipping through the Strait of Hormuz, which carries roughly one-fifth of global oil supply, faced disruption. Asian markets fell in the first few trading sessions as investors reassessed inflation and energy supply risks.
However, while many sectors struggled, some companies proved more resilient, with several Straits Times Index (STI) constituents holding up relatively well.
This reflects a familiar pattern during periods of geopolitical tension. Industries tied to defence, cybersecurity, infrastructure and energy supply often see stronger demand as governments and businesses prioritise security and resilience.
Here are four STI stocks whose share prices have remained supported since tensions escalated.
ST Engineering (SGX: S63)
Share Price: $10.88, up about 8% over the past month
Periods of geopolitical tension typically lead governments to strengthen defence capabilities.
ST Engineering is Singapore’s largest defence and technology group. Its Defence and Public Security segment secured $9.1 billion in defence orders in 2025, pushing its total order book to a record $33.2 billion as it enters 2026.
As governments in Europe and Asia-Pacific continue upgrading military and security capabilities, companies supplying defence systems, aerospace solutions and security technologies often see sustained demand.
Singtel (SGX: Z74)
Share Price: $4.96, up about 2% over the past month
Singtel is increasingly positioned as a digital infrastructure and cybersecurity provider rather than just a telecommunications operator.
Periods of geopolitical tension often coincide with increased cyber activity targeting governments, infrastructure operators and corporations. This typically raises demand for cybersecurity services.
Singtel’s technology arm, NCS, and cybersecurity subsidiary, Trustwave, provide enterprise and government security services across the Asia-Pacific region.
At the same time, demand for stable data infrastructure continues to grow. In February 2026, Singtel and KKR moved to take full ownership of ST Telemedia Global Data Centres in a deal valuing the business at $13.8 billion.
Seatrium (SGX: 5E2)
Share Price: $2.37, up about 12% over the past month
Seatrium, formed in 2023 through the merger of Sembcorp Marine and Keppel Offshore & Marine, is one of the world’s largest offshore and marine engineering companies.
Its business is closely tied to developments in the global energy sector. When oil prices rise, offshore exploration and production projects that were previously uneconomical can become viable again.
Higher oil prices often prompt energy companies to revisit delayed projects, upgrade offshore infrastructure and invest in new production facilities, all of which support demand for offshore engineering services such as floating production units and specialised vessels.
Singapore Exchange (SGX: S68)
Share Price: $18.40, up about 2% over the past month
Market operators such as SGX can benefit from periods of heightened volatility because trading activity typically increases.
Geopolitical tensions often lead to larger price swings across equities, commodities and currencies. Higher trading volumes can translate into stronger transaction revenue for exchanges.
As the operator of Singapore’s equity, derivatives and commodities markets, SGX is positioned to benefit when investors become more active in managing risk.
The Bottom Line
Geopolitical tensions often bring volatility to financial markets, and the latest escalation in the Middle East is no exception. Rising oil prices, disrupted trade routes and renewed inflation concerns have weighed on several sectors, particularly airlines and consumer-facing businesses.
At the same time, shifts in global priorities can support demand in other areas of the economy. Defence, cybersecurity, energy infrastructure and financial market activity often take on greater importance when governments and businesses focus on security, resilience and supply stability.
For investors, this highlights an important point: markets rarely move in one direction across all sectors. Even during periods of heightened uncertainty, certain industries can remain resilient as global economic priorities adjust.
Read Also: How The Stock Market Reacted During Past Wars
