Bulls And Bears

Singapore shares buoyed by easing of Covid-19 curbs

• STI advances 0.29% on volume of 1.95b securities worth $1.06b

• Aviation counters are biggest gainers, led by SIA and Sats

• Key regional markets except Hong Kong also close higher

The benchmark Straits Times Index (STI) gained ground yesterday, particularly after the news about the easing of Covid-19 restrictions broke. It then dipped thereafter to end at 3,162.50, up 9.03 points or 0.29 per cent.

Among the STI constituents, aviation counters were the day's top gainers.

Singapore Airlines emerged at the top of the index, advancing 1.99 per cent to $5.12. Sats also closed up 1.96 per cent at $4.16.

On Wednesday night, The Straits Times reported that South Korea was hoping to expedite travel bubble talks with the likes of Singapore and Taiwan, to allow quarantine-free travel for fully vaccinated people from as early as next month.

CapitaLand was also among the top performers of the day, with the counter gaining 1.08 per cent to end at $3.74.

In a note yesterday, RHB analyst Vijay Natarajan said the brokerage maintains its "overweight" call on the real estate sector, with CapitaLand as its top pick "as we remain positive on (CapitaLand's) latest value unlocking move".

Sembcorp Industries slumped to the bottom of the index, down 1.38 per cent at $2.15.

On the broader market, decliners outnumbered advancers 250 to 232, with 1.95 billion securities worth $1.06 billion changing hands.

Most Asian markets ended the day in positive territory.

The Nikkei 225 Index gained 0.34 per cent to end at 28,958.56, while the benchmark Kospi advanced 0.26 per cent to 3,224.64. The Shanghai Composite Index similarly closed up 0.54 per cent at 3,610.86.

But the Hang Seng Index ended marginally lower at 28,738.88, down 0.013 per cent.

A version of this article appeared in the print edition of The Straits Times on June 11, 2021, with the headline 'Singapore shares buoyed by easing of Covid-19 curbs'. Subscribe