Singapore shares close up 0.55% on Friday

The SGX Centre at Shenton Way. PHOTO: THE NEW PAPER

SINGAPORE - It was another quiet session on the local market on Friday although the benchmark Straits Times Index (STI) closed at a fresh two-year high.

The index rose 18.98 points, or 0.55 per cent, to 3,442.15, with gainers outnumbering losers 243 to 172. Around 2.57 billion shares worth just $911.9 million changed hands.

The STI hit its highest level since May 2015.

Early childhood education provider MindChamps PreSchool, which made its debut on the bourse at 83 cents, closed 10.8 per cent up 92 cents on turnover of 21.7 million shares.

Thai Beverage, whose 38.5 per cent jump in full-year net profit met with analysts' measured approval, added three cents or 3.19 per cent to 97 cents.

Another hot stock for the day, albeit in the wrong direction, was aluminium alloy company Midas Holdings. More than 39.4 million shares were moved over the course of the day, leaving Midas down 0.6 cents, or 3.9 per cent, at 14.8 cents.

Midas was queried by the bourse operator over heavy selling in its stock. It said was not aware of any information that could explain the unusual trading activity.

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