Singapore stocks continue gaining ground, tracking regional benchmarks; STI up 0.1%
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The benchmark Straits Times Index is up 3.42 points at 4,964.25.
ST PHOTO: AZMI ATHNI
Benjamin Cher
- Singapore's STI gained 0.1% to 4,964.25 on Feb 10, with Keppel leading blue-chip gainers and the three local banks ending with mixed results.
- Most regional benchmarks closed higher, including Nikkei 225 up 2.3% and Hang Seng Index gaining 0.6%, though Malaysia's KLCI bucked the trend.
- US markets reached new highs due to cyclical industry investments, while Japan's PM election win could boost spending but risks global borrowing cost increases, says Mr Jose Torres, senior economist at Interactive Brokers.
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SINGAPORE - Singapore stocks ended higher on Feb 10, tracking regional indexes.
The benchmark Straits Times Index (STI) gained 0.1 per cent or 3.42 points to finish at 4,964.25.
Across the broader market, gainers outpaced losers 379 to 222, after 1.4 billion securities worth $1.8 billion changed hands.
Keppel led the gainers on Singapore’s blue-chip index, rising 3.3 per cent or 40 cents to end at $12.50.
Coming in at the bottom of the table among STI constituents was Jardine Matheson, which fell 1.3 per cent or 98 US cents to close at US$76.
The three local banks ended mixed on Feb 10.
UOB rose 0.6 per cent or 22 cents to $38.92, while DBS fell 0.7 per cent or 39 cents to $57.80, and OCBC finished 0.3 per cent or six cents lower at $21.32.
The iEdge Singapore Next 50 Index gained 1.1 per cent or 16.67 points to 1,509.95.
Topping the index was Centurion, which rose 5.4 per cent to $1.57.
The index’s biggest loser was Keppel Infrastructure Trust, which fell 2.7 per cent to 53.5 cents.
Across the region, most benchmark indexes closed higher, with the Nikkei 225 rising 2.3 per cent, the Hang Seng Index gaining 0.6 per cent and the Kospi edging up 0.1 per cent.
Bucking the trend was the FTSE Bursa Malaysia KLCI, which shed 0.2 per cent.
In the US, investor sentiment is pushing the Dow Jones Industrial Average to new highs as money managers pile into cyclical industries, said Mr Jose Torres, senior economist at Interactive Brokers.
The election victory of Japanese Prime Minister Sanae Takaichi is propelling animal spirits, as she can now pursue heavier spending and taxation relief. THE BUSINESS TIMES
