Singapore shares up as regional markets end mixed; STI up 0.2%

SINGAPORE – Local shares inched up on March 12 after a measure of stability, however fragile, came back to markets here and elsewhere, after days of turmoil sparked by threats of tit-for-tat tariffs.

The Straits Times Index (STI) climbed 0.2 per cent or 7.24 points to 3,833.07, with gainers beating losers 307 to 224 on solid trade of 1.5 billion securities worth $1.8 billion.

The STI’s top performer was DFI Retail Group, up 8.6 per cent to US$2.28, while Singapore Airlines led the decliners, falling 1.6 per cent to $6.65. Resort operator Genting Singapore was the index’s most actively traded stock, with 53.4 million shares done as the counter added 0.7 per cent to 72.5 cents.

Regional markets ended mixed, following a sell-off on March 11.

Japan’s Nikkei 225 was up 0.1 per cent while South Korea’s Kospi climbed 1.5 per cent, but the ASX 200 in Australia fell 1.3 per cent to a near seven-month low and the Hang Seng in Hong Kong dipped 0.8 per cent.

IG market strategist Yeap Jun Rong noted that the impending release of the US consumer price index for February would be “the focal point” for markets.

He said US headline inflation is expected to ease to 2.9 per cent from 3 per cent in January. While the inflation rate in February was higher than expected, he said a reading closer to consensus would likely offer some calm for global markets by signalling US economic resilience.

“With prevailing concerns over a US growth slowdown persisting, any significant surprise in inflation data could potentially see renewed market volatility,” he added.

Wall Street needs some good news after global trade ructions sparked a wild session overnight despite signs of compromise between the US and Canada.

The Dow Jones Industrial Average fell 1.1 per cent, the S&P 500 slipped 0.8 per cent and the Nasdaq retreated 0.2 per cent. All three indexes racked up their worst two-day drop since August 2024. THE BUSINESS TIMES