Singapore shares rise, tracking regional gains; STI up 0.3%
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Across the broader market, advancers outnumbered decliners 370 to 163, after 1.8 billion securities worth $1.4 billion were traded.
PHOTO: ST FILE
Navene Elangovan
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SINGAPORE – The benchmark Straits Times Index (STI) continued its record-breaking streak for a second day running to close higher on July 15.
The STI rose 0.3 per cent, or 10.61 points, to 4,119.82, after hitting an intra-day high of 4,129.77.
Across the broader market, advancers outnumbered decliners 370 to 163, after 1.8 billion securities worth $1.4 billion were traded.
The top gainer on the benchmark index was investment company Jardine Matheson Holdings, which rose 3.9 per cent, or US$1.92, to US$51.45.
The biggest decliner was property developer UOL. The counter fell 1.3 per cent, or nine cents, to $6.75.
Beverage distributor Thai Beverage was the most actively traded counter by volume, with 56.2 million units worth $26.7 million traded. The counter rose 1.1 per cent, or 0.5 cent, to 47.5 cents.
Regional bourses mostly ended July 15 higher.
Japan’s Nikkei 225 rose 0.6 per cent and Hong Kong’s Hang Seng Index was up 1.6 per cent. Australia’s ASX 200 gained 0.7 per cent, while South Korea’s Kospi rose 0.4 per cent.
Mr Stephen Innes, managing partner of SPI Asset Management, said that market watchers still expect the US Federal Reserve to reduce interest rates in 2025.
However, whether the rate cuts will be a “smooth descent” depends on the level of inflation.
If the US tariffs affect the prices of household goods and durable consumption, driving up the upcoming figures for the US consumer price index, which is an indicator for inflation, cuts to interest rates might be thrown off course, Mr Innes added. THE BUSINESS TIMES
