Singapore stocks edge up 0.3% on April 10 to end week higher
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Across the broader market, gainers outnumbered losers 380 to 201, with 4.4 billion securities worth $1.9 billion traded.
ST PHOTO: AZMI ATHNI
Renald Yeo
- Singapore's STI rose 0.3% to 4,989.41, a 0.7% weekly gain from April 2, with local banks and Singapore Exchange performing well.
- Regional markets also closed higher, including Hong Kong's Hang Seng, Japan's Nikkei 225, and South Korea's Kospi.
- SPI Asset Management notes the market’s “constructive but fragile” tone, "renting optimism" amidst ongoing Middle East tensions.
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SINGAPORE - Singapore stocks closed higher on April 10, capping the week on a firmer note.
The benchmark Straits Times Index (STI) rose 0.3 per cent, or 12.33 points, to 4,989.41, bringing its gain to 0.7 per cent from the previous week’s close on April 2.
The three local banks ended in positive territory. DBS was up 0.3 per cent, or 15 cents, at $57.35. OCBC climbed 1.3 per cent, or 28 cents, to $22.47, and UOB edged up 0.2 per cent, or nine cents, to $37.39.
The Singapore Exchange was the top performer on the blue-chip index, rising 3.8 per cent, or 78 cents, to $21.09.
DFI Retail Group was the worst-performing STI constituent, dropping 4.9 per cent, or 22 US cents, to US$4.29.
Across the broader market, gainers outnumbered losers 380 to 201, with 4.4 billion securities worth $1.9 billion traded.
Regional markets also ended higher. Hong Kong’s Hang Seng Index rose 0.6 per cent, Japan’s Nikkei 225 gained 1.8 per cent, South Korea’s Kospi advanced 1.4 per cent and Malaysia’s FTSE Bursa Malaysia KLCI added 0.3 per cent.
Mr Stephen Innes, managing partner at SPI Asset Management, said in an April 10 note that “Asian equities pushed higher into the close, extending their first weekly gain since the Middle East conflict began” on Feb 28.
“As the week closes, the tone is constructive but fragile. This is not a market celebrating resolution; it is a market renting optimism into the weekend, part conviction, part mechanics, fully aware that the bill gets settled when the screens light up again,” he added. THE BUSINESS TIMES
