Bank stocks lift Singapore shares; STI up 0.5%
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The Straits Times Index rose 0.5 per cent or 18.63 points to 3,813.55.
ST PHOTO: DESMOND WEE
Therese Soh
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SINGAPORE - Stocks in Singapore closed Dec 10 in positive territory, boosted by gains of local banks.
The Straits Times Index (STI) rose 0.5 per cent or 18.63 points to 3,813.55. Across the broader market, losers outnumbered gainers 277 to 255 after 1.2 billion securities worth $1.1 billion changed hands.
The local banking trio closed the day higher. OCBC was up 1.1 per cent or 19 cents at $16.73. UOB climbed 1 per cent or 35 cents to $37.15. DBS rose 0.8 per cent or 35 cents to $44.
Seatrium was the biggest winner on the STI, up 1.5 per cent or three cents at $2.04.
Mapletree Industrial Trust lost the most, down 1.3 per cent or three cents at $2.23.
Shares of Singapore Exchange were subdued, down 0.5 per cent or six cents at $12.51. The bourse operator posted a 51 per cent increase in its securities’ turnover value in its November monthly market statistics report.
Jupiter Asset Management said in a note on Dec 10 that it was positive on the Singapore market, among others in the region.
“Overall, we are feeling reasonably positive and would expect to see some level of earnings and dividend growth in 2025 in the Asia-Pacific region.
“We think that the Australian, Indian and Singapore economies are likely to continue to see growth and to outperform peers,” said the asset manager.
Regional markets closed mixed on Dec 10. Japan’s Nikkei 225 increased 0.5 per cent, while Hong Kong’s Hang Seng Index was down 0.5 per cent. The FTSE Bursa Malaysia KLCI Index was down 0.2 per cent. THE BUSINESS TIMES
