Positive sentiment drives STI up after easing of Covid-19 curbs

Local shares began the week on a more upbeat showing, as Singapore further eased its Covid-19 restrictions related to dining and social gatherings amid an improvement in overall infection numbers.

Investors seemed more hopeful and the benchmark Straits Times Index rose 0.2 per cent or 4.74 points to 3,237.08. Across the broader market, however, losers surged past gainers 282 to 190, after some 1.7 billion securities worth $936.5 million changed hands.

The mood was similar in other markets in the region. The KLCI and Nikkei 225 each rose 0.1 per cent, the Kospi gained 1.4 per cent, and the Jakarta Composite added 0.05 per cent. However, the Hang Seng Index fell 0.4 per cent.

Oanda senior market analyst Jeffrey Halley said the mood in Asian markets is "nervously unchanged". He cited China's property sector issues and fears that a fourth wave in Europe may affect global recovery.

On the local bourse, Jardine Matheson Holdings was the top advancer. The counter added 1.3 per cent or 76 US cents to finish at US$60.88 yesterday.

A few tech names were also among the biggest gainers. Creative Technology rose 4.6 per cent or 11 cents to $2.51; Nanofilm Technologies International added 2.2 per cent or nine cents to $4.24, while AEM rose 1.2 per cent or six cents to $5.06.

Another member of the Jardine group - Dairy Farm International - was the biggest decliner for the day. The counter lost 3 per cent or 10 US cents to US$3.21.

Vividthree Holdings was the most heavily traded stock, with some 132 million shares changing hands. The counter rose 55.4 per cent or 3.6 cents to 10.1 cents. The firm last Friday said it had raised some $2.2 million through the placement of 37.5 million new shares to a group of investors that included high-net-worth individuals and institutional funds. These funds would go to acquisitions and the funding of new projects.