Singapore shares finish Tuesday higher tracking Wall Street advances, STI up 0.3%

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way.PHOTO: ST FILE

SINGAPORE (THE BUSINESS TIMES) - The Singapore stock market felt positive knock-on effects of rising investor sentiment in the US after a coronavirus stimulus bill was passed, pushing Wall Street indices to record highs on Monday.

On the local bourse, the benchmark Straits Times Index (STI) rose 0.3 per cent or eight points to finish the day at 2,848.14. On the broader market, gainers outnumbered losers 265 to 175, after 1.56 billion securities worth some $630 million changed hands.

Jardine Strategic Holdings and Jardine Matheson Holdings were the top advancers for the day. The former gained 2.5 per cent or US$0.61 to US$25.41, while the latter added 0.6 per cent or US$0.35 to finish the day at US$55.70.

On the other end of the spectrum, ABR Holdings - which owns a number of food and beverage brands - was the top decliner. The stock tumbled 19.1 per cent or $0.13 to $0.55.

Glove makers were also among the biggest decliners for the second consecutive day. Top Glove fell 3.9 per cent or $0.08 to $1.99; Riverstone shed 1.8 per cent or $0.02 to $1.09, while UG Healthcare fell 3.4 per cent or $0.02 to 57.5 cents.

Medical apparel maker Medtecs International, too, fell 2.5 per cent or 2.5 cents to 99.5 cents.

Oanda senior market analyst Jeffrey Halley noted that glove makers had led declines on the Kuala Lumpur stock market earlier in the day as well. "It may well be that investors are starting to look at a post-vaccine future and are lightening up on a sector that was a clear Covid-19 winner," he noted.

Among the 30 constituent counters, Yangzijiang Shipbuilding emerged the biggest loser after coming out tops on Monday. The stock closed at 93.5 cents, down 1.1 per cent or one cent. It was the most heavily traded STI stock for the second day in a row, with some 14.9 million shares traded over the course of the day.

Elsewhere in the region, stock markets ended the day mixed.