Singapore central bank says 32% of listed firms at risk in severe AI downturn

On September 22, 2026, the Monetary Authority of Singapore (MAS) released its annual Financial Stability Review, which included a stress test of Singapore-listed companies under a severe downturn in AI investment. The test found that 32% of these companies would be at risk, with smaller firms disproportionately affected. MAS also warned of potential global shocks from AI valuation corrections, geopolitical tensions, and trade restrictions, but noted that most firms and households have adequate buffers to withstand such stresses.