Singapore stocks close higher on April 6; STI up 0.5%
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Across the broader market, gainers edged out losers 297 to 140, after 985.7 million securities change hands.
ST PHOTO: AZMI ATHNI
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Benjamin Cher
- Singapore's STI rose 0.5% to 4,972.40, with 297 gainers outnumbering 140 losers, as 985.7 million securities traded for $1.3 billion.
- Yangzijiang Shipbuilding led STI gains (up 3.1%), while Sats was the worst performer (down 0.6%); local banks' performance was mixed.
- Regional markets were mixed amidst ceasefire hopes; SPI's Stephen Innes noted cautious optimism, citing low odds of a near-term deal.
AI generated
SINGAPORE – Stocks in Singapore ended higher on April 6 as regional peers were mixed.
The benchmark Straits Times Index (STI) gained 0.5 per cent or 24.9 points to finish at 4,972.4 points.
Across the broader market, gainers outnumbered losers 297 to 140, after 985.7 million securities worth $1.3 billion changed hands.
Yangzijiang Shipbuilding led the gainers on Singapore’s blue-chip index, rising 3.1 per cent or 12 cents to end at $3.95.
The worst performer among the STI constituents was SATS, falling 0.6 per cent or two cents to close at $3.56.
The three local banks ended mixed.
DBS rose 0.1 per cent or eight cents to $57.63, and OCBC was up 0.3 per cent or six cents at $22.44. UOB finished one cent or 0.03 per cent lower at $36.90.
Meanwhile, the iEdge Singapore Next 50 Index gained 1.3 per cent or 18.22 points to end at 1,467.36.
Within the iEdge Singapore Next 50 Index, Pan-United Corporation was the top gainer, rising 5.6 per cent or $0.09 to finish at $1.71, while Ultragreen.ai was the biggest loser, falling 2.7 per cent or US$0.04 to end the session at US$1.43.
Key regional indexes ended mixed. Japan’s Nikkei 225 index rose 0.6 per cent, South Korea’s Kospi was up 1.4 per cent and the FTSE Bursa Malaysia KLCI declined 0.9 per cent.
The markets are flirting with the idea of a peace dividend, said Mr Stephen Innes, managing partner at SPI Asset Management.
He added that equities are lifting as the possibility of a 45-day ceasefire circulates and oil prices ease.
“The lift in equities and the pullback in crude carry the fingerprints of relief, yet the underlying tone remains cautious, reflecting a market that understands the odds of a near-term deal remain low,” noted Mr Innes. THE BUSINESS TIMES
