Singapore shares rise ahead of US-China meeting; STI up 0.1%
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The Straits Times Index added 5.94 points, or 0.1 per cent, to finish at 4,422.21.
ST PHOTO: KUA CHEE SIONG
Tay Peck Gek
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- Trump and Xi's meeting news spurred hope for easing trade tensions, boosting Asian markets.
- Singapore's Straits Times Index rose 0.1% with Yangzijiang Shipbuilding leading gains.
- ST Engineering's $14 billion in contracts for three quarters of 2025 also boosted the index.
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SINGAPORE - US President Donald Trump’s upcoming meeting with Chinese President Xi Jinping sparked hope that a cooling of trade tensions between the economic superpowers would ensue, leading to a rally in Asian markets including Singapore on Oct 24.
Trade conflicts between Washington and Beijing have been escalating after the world’s two largest economies announced retaliatory measures such as port fees against each other, causing jitters in the securities markets.
The announcement of the leaders’ talks next week on the sidelines of the Asia-Pacific Economic Cooperation summit supported gains across Asia, noted private banking and asset management group LGT.
Singapore counters closed higher in tandem with gains in regional bourses, with the blue-chip Straits Times Index (STI) adding 5.94 points, or 0.1 per cent, to finish at 4,422.21. The STI clocked a 2.2 per cent rise over the week.
China-based Yangzijiang Shipbuilding was the top STI performer, closing 3.9 per cent, or 13 cents, higher at $3.47.
ST Engineering also rose, by 1.2 per cent, or 10 cents, to $8.58. This was after the defence and engineering group on Oct 23 announced that it had secured $4.9 billion in new contracts in the third quarter of 2025. Its total contract wins amounted to $14 billion for the three quarters in 2025.
Across the broader market, gainers beat decliners 369 to 166, with 1.6 billion securities worth $1.4 billion transacted.
Elsewhere in Asia, Japan’s Nikkei 225 was 1.4 per cent higher, South Korea’s Kospi index jumped 2.5 per cent, and the Shanghai Composite Index was up 0.7 per cent. THE BUSINESS TIMES
