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The “OBU Cliff” and the Dividend Mirage: Why the Math Doesn’t Care About One-Off Windfalls

If you walked into the Toa Payoh Lorong 8 Market kopitiam this morning, you’d hear the “uncles” cheering the 5,000-point STI milestone like it’s a National Day parade. There is a palpable buzz—a feeling that the “dragon” has finally woken up and is ready to roar. And let’s be honest, seeing the index hold at 5,031 feels like finally getting that HDB BTO letter after years of waiting.