SINGAPORE (THE BUSINESS TIMES) - Local stocks ended a choppy week on a more optimistic note on Friday as news of vaccinated travel lanes and updates on vaccination figures lifted investor optimism.
Singapore will launch travel lanes with Germany and Brunei, doing away with travellers serving stay-home notices, and unilaterally open its borders to Hong Kong and Macau with immediate effect.
The news bolstered the Straits Times Index, which advanced 0.5 per cent or 15.78 points to 3,102.75. Across the broader market, losers inched past gainers 257 to 229 as 1.36 billion shares worth $1.07 billion changed hands.
Mr Vishnu Varathan at Mizuho Bank warned that the regional rebound is likely to extend into 2022.
A "phased resumption of travel" means weaknesses in the tourism industry are likely to persist, while economies with high tourism multipliers may suffer a lengthy under-performance, he said.
Unsurprisingly, aviation-related counters were among the top gainers here. Singapore Airlines added 1.4 per cent to $5.03 while Sats rose 3 per cent or to $4.14.
Jardine Matheson Holdings was the biggest advancer, rising 1.1 per cent to US$56.00.
Two of three local lenders were also among the top gainers. DBS added 0.8 per cent to $30.16 and UOB put on 0.7 per cent to $25.86.
Real estate agency PropNex was among the biggest losers, ending the day at $1.80, down 4.3 per cent.
Sembcorp Marine was the most heavily traded counter with 94.7 million shares changing hands over the course of the day.
Friday was the deadline for shareholders to lodge proxy forms to vote on its proposed rights issue to raise $1.5 billion with the extraordinary general meeting to be on Monday. Sembmarine closed at 10.3 cents, down 3.7 per cent.
Other heavily traded stocks included GSS Energy, Singtel and Golden Agri-Resources.
Other markets were mixed. The Nikkei 225 fell 1 per cent, the Hang Seng slipped 1.8 per cent and the Kospi lost 1.2 per cent. The KLCI inched up 0.2 per cent while Jakarta shares rose 0.6 per cent.
