Seatrium surge lifts Singapore stocks slightly; STI up 0.1%
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Across the broader market, gainers beat losers 316 to 267 as 2.3 billion securities changed hands.
ST PHOTO: AZMI ATHNI
Jude Chan
SINGAPORE – Singapore stocks ended higher on May 12.
The benchmark Straits Times Index (STI) gained 0.1 per cent, or 3.23 points, to finish at 4,946 points.
Seatrium led the gainers on Singapore’s blue-chip index, rising 5.4 per cent, or 12 cents, to $2.35.
The worst performer among STI constituents was Frasers Logistics & Commercial Trust, which fell 1.5 per cent, or 1.5 cent, to 97 cents.
The three local banks ended the day mixed. DBS rose 0.6 per cent, or 33 cents, to $59.10, and UOB was up 0.3 per cent, or 12 cents, at $37.11. OCBC Bank, meanwhile, finished 0.8 per cent, or 17 cents, lower at $22.33.
Within the iEdge Singapore Next 50 Index, Riverstone was the top gainer, rising 12.8 per cent, or 10.5 cents, to 92.5 cents.
UOB Kay Hian was the index’s biggest decliner, falling 2.6 per cent, or 11 cents, to end the session at $4.19.
Across the broader market, gainers outnumbered losers 316 to 267, after 2.3 billion securities worth $2.2 billion changed hands.
Key regional indexes were mixed on May 12.
Japan’s Nikkei 225 rose 0.5 per cent, and the FTSE Bursa Malaysia KLCI advanced 0.3 per cent. Meanwhile, South Korea’s Kospi was down 2.3 per cent, and Hong Kong’s Hang Seng Index lost 0.2 per cent.
“We see no disconnect between record US equity prices and elevated oil, commodities and yields,” said BlackRock Investment Institute, adding that markets are pricing in artificial intelligence-driven growth and the impact of the supply shock in the Middle East.
“US inflation data this week will test still-firm price pressures, with implications for yields as markets assess the risk of further rate increases,” it added. THE BUSINESS TIMES
