Singapore blue chips gain 0.5%, ending five-session losing streak

SINGAPORE blue chips tracked overnight gains on Wall Street to rise on Friday, ending a run of five straight sessions of falls.

The benchmark Straits Times gained 15.87 points or 0.5 per cent to 3,210.18.

The Jardine stable of companies helped lift the index. Jardine Matheson Holdings rose US$1.25 or 2.3 per cent to US$56.30, Jardine Strategic Holdings was up 57 US cents or 1.7 per cent to US$34.72, Jardine Cycle & Carriage increased 54 cents or 1.5 per cent to $37.49, and Hongkong Land Holdings was ahead by three US cents or 0.5 per cent to $6.60.

There continued to be strong interest in penny stocks. Some 4.37 billion shares changed hands across the market but these were worth only $1.13 billion, showing much of the trading was in low-priced counters.