Singapore shares rise amid Wall Street’s overnight gain; STI up 0.2%
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Across the broader market in Singapore, decliners trailed gainers 195 to 263, after 1.02 billion securities were transacted at $1.03 billion in value.
ST PHOTO: LIM YAOHUI
Tay Peck Gek
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SINGAPORE - Singapore shares rose on May 20, after Wall Street closed higher overnight, shrugging off Moody’s downgrading of the United States’ sovereign credit rating
With only one-third of Singapore’s blue-chip barometer Straits Times Index (STI) finishing higher, the benchmark index managed to eke out a gain of 0.2 per cent, or 6.3 points, to settle at 3,882.5 points.
The better showing came as US markets closed higher, despite America being stripped of its top credit rating and China cutting two key interest rates to historic lows
But JPMorgan Chase chief executive officer Jamie Dimon warned the market against complacency
“People feel pretty good because you haven’t seen an effect of tariffs,” he said. “The market came down 10 per cent, it’s back up 10 per cent; I think that’s an extraordinary amount of complacency.”
Across the broader market in Singapore, decliners trailed gainers 195 to 263, after 1.02 billion securities were transacted at $1.03 billion in value.
Food Empire closed at a 52-week high of $1.77, up 7 cents or 4.1 per cent. The food and beverage company generated a 16.3 per cent rise in revenue to US$136.6 million (S$177 million) for the first quarter of financial year 2025 ended March, driven by robust sales in Vietnam.
Singapore Post slid 0.9 per cent, or 0.5 cent, to 56.5 cents, a day after the national postal service provider announced it ramped up partnership with global transport company FedEx THE BUSINESS TIMES
