Singapore shares close higher, in line with regional indexes
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The top gainer was SGX, which closed up 2.1 per cent or 26 cents to $12.95.
PHOTO: ST FILE
Benjamin Cher
SINGAPORE - The Straits Times Index (STI) closed higher on April 14, mirroring most regional indexes.
The STI closed up 1 per cent or 36.38 points to 3,548.91.
Across the broader market, advancers outnumbered decliners 377 to 181 after 1.1 billion shares worth $1.38 billion changed hands.
The trio of banks regained some ground, with DBS Bank up 1.8 per cent or 68 cents at $38.81. OCBC Bank increased 1.1 per cent or 17 cents to $15.18; and UOB gained 1.4 per cent or 45 cents to $32.92.
The top gainer on the STI was SGX, which closed up 2.1 per cent or 26 cents to $12.95.
The biggest loser was Sembcorp Industries, which fell 1.3 per cent or eight cents to $6.13.
Across the region, major indexes closed higher, with the Kospi up 1 per cent and the Nikkei 225 up 1.2 cent. Hong Kong’s Hang Seng Index gained 2.4 per cent and the KLCI climbed 1.8 per cent.
The additional tariff rollbacks announced by the US over the weekend could extend optimism in the market into this week, noted Mr Yeap Jun Rong, market strategist at IG. The economic drag from existing tariffs will be a key risk to monitor.
While recession risks have eased compared with a month ago, they still remain elevated. Growth forecasts still point to a sharp slowdown in the US economy in 2025, with estimates ranging from 0.1 per cent to 0.6 per cent, with unemployment expected to rise and inflation to persist.
“Once the initial optimism around tariff rollbacks fades, these underlying macro headwinds could bring markets back to a more sobering reality,” said Mr Yeap. THE BUSINESS TIMES
