Singapore stocks edge up in tandem with regional markets; STI gains 0.1%
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Across the wider Singapore market, advancers outnumbered decliners 338 to 214, with 1.7 billion shares worth $1.6 billion changing hands.
ST PHOTO: AZMI ATHNI
Jude Chan
- Singapore's STI rose 0.1% to 4,812.51 amid positive Asian market sentiment, with advancers beating decliners 338 to 214.
- Hongkong Land led gains at 3.3%, while Yangzijiang Shipbuilding fell 1.9%; Genting Singapore saw the highest trading volume.
- Geopolitical tensions and a potential US government shutdown inject market volatility, according to Nuveen CIO Saira Malik.
AI generated
SINGAPORE - Singapore shares ended higher on Jan 14 as stock market sentiment remained upbeat across Asia.
The Straits Times Index (STI) edged up 0.1 per cent, or 5.38 points, to 4,812.51.
Across the wider Singapore market, advancers outnumbered decliners 338 to 214, with 1.7 billion shares worth $1.6 billion changing hands.
“New and ongoing geopolitical tensions will almost certainly inject volatility into markets,” said global asset manager Nuveen’s chief investment officer Saira Malik.
“And the threat of another potential US government shutdown at the end of January, while not a base-case scenario, adds a familiar layer of political uncertainty that markets have learnt to discount but not fully dismiss.”
The top performer on Singapore’s blue-chip index was Hongkong Land, which jumped 3.3 per cent, or 26 US cents, to close at US$8.18.
Yangzijiang Shipbuilding was the STI’s biggest loser, dropping 1.9 per cent, or seven cents, to $3.67.
Genting Singapore was the most heavily traded blue-chip counter, climbing 0.7 per cent, or 0.5 cent, to close at 73.5 cents after 42.3 million shares changed hands.
The trio of local banks ended Jan 14 mixed. DBS Bank shed 0.3 per cent, or 15 cents, to $58.32; while UOB gained 0.9 per cent, or 32 cents, to finish at $36.51; and OCBC Bank rose 0.1 per cent, or one cent, to $20.13.
The iEdge Singapore Next 50 Index rose 0.7 per cent, or 10.91 points, to 1,489.74.
Key Asian markets all closed higher. Japan’s Nikkei 225 surged 1.5 per cent, South Korea’s Kospi gained 0.7 per cent, Hong Kong’s Hang Seng Index climbed 0.6 per cent, and the FTSE Bursa Malaysia KLCI Index rose 0.2 per cent. THE BUSINESS TIMES
