Singapore stocks flat; latest factory output data posts solid growth
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The benchmark Straits Times Index was little changed, edging down 0.19 point to close at 4,636.15. The iEdge Singapore Next 50 Index rose 0.1 per cent, or 1.06 points, to 1,449.67.
PHOTO: ST FILE
Renald Yeo
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SINGAPORE - Singapore stocks ended flat on Dec 26, even as the latest factory output data pointed to continued strength in manufacturing activity.
The benchmark Straits Times Index (STI) was little changed, edging down 0.19 point to close at 4,636.15. The iEdge Singapore Next 50 Index rose 0.1 per cent, or 1.06 points, to 1,449.67.
Across the broader market, gainers outnumbered losers 225 to 170, with 764.9 million securities worth $667.8 million traded.
Regional markets were mixed. Japan’s Nikkei 225 climbed 0.7 per cent and South Korea’s Kospi gained 0.5 per cent.
Malaysia’s FTSE Bursa Malaysia KLCI slipped 0.1 per cent.
On the data front, Singapore’s factory output jumped 14.3 per cent year on year, driven by a surge in pharmaceutical manufacturing, though this moderated from October’s revised 28.9 per cent growth, figures from the Economic Development Board showed.
The reading came in just below private-sector economists’ median forecast of a 15 per cent expansion in a Bloomberg poll.
On the STI, Thai Beverage led the gainers, rising 1.1 per cent to 46 cents.
The weakest performer among blue-chip constituents was Jardine Matheson, which fell 1.4 per cent to US$66.65.
Local banks closed mixed. OCBC rose 0.2 per cent to $19.81 and UOB gained 0.3 per cent to $35.13, while DBS slipped 0.1 per cent to $56.23. THE BUSINESS TIMES
