Bulls And Bears

Robust trade data lifts S'pore shares after two days of losses

• STI rises 0.39% to end choppy trading week 0.7% higher • Gainers outpace losers 267 to 192; turnover at 1.34 billion units • Sanli Environmental up 130% after bagging PUB contract

Good trade data helped the local market snap two straight days of losses and shrug off overnight dips on Wall Street led by heightened pandemic fears.

Optimistic investors sent the Straits Times Index up 12.32 points, or 0.39 per cent, to 3,152.30, to end a choppy trading week that closed 20.90 points, or 0.7 per cent, ahead and nearly 11 per cent higher for the year so far.

Sentiments in the local bourse may have been partly lifted by strong trade data as Singapore's exports rose 15.9 per cent last month - well above forecast, partly owing to a low base a year ago.

Except for Australia, Hong Kong and Malaysia, other key gauges across the region, from Japan and China to Taiwan and South Korea, ended the day with losses. Caution continued to prevail, given rising Covid-19 infections across the Asia-Pacific and in the United States.

Turnover here came in at 1.34 billion units worth $844.54 million, with gainers well outpacing losers 267 to 192.

Sanli Environmental saw massive action and jumped to a 52-week high of 16.3 cents after gaining 130 per cent upon trading resumption yesterday.

The counter, which generally sees anaemic trading, was the day's second-most active, with 48 million shares traded.

The Catalist-listed firm said on Thursday that it had bagged a $73 million job from PUB to build and commission new disinfection systems in Johor. The contract brought its total order book to $329.8 million.

Mercurius Capital Investment fell 8.2 per cent to 6.7 cents.

The firm responded late on Thursday to Singapore Exchange queries regarding its acquisition of a Malaysian supermarket chain.

It said it did not need to seek shareholder consent as they are "fully aware of this and of the fact that by considering and voting on the new business, they are considering and indirectly voting on the proposed acquisition".

The counter was the day's fifth-most active, with 32 million shares changing hands.

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A version of this article appeared in the print edition of The Straits Times on July 17, 2021, with the headline Robust trade data lifts S'pore shares after two days of losses. Subscribe