DBS, OCBC shares at all-time high as S’pore stocks gain ground amid mixed regional showing; STI up 1.3%
Sign up now: Get ST's newsletters delivered to your inbox
Shares of the three local banks all rose.
PHOTO: ST FILE
Young Zhan Heng
Follow topic:
- Singapore's STI rose 1.3% to 4,739.97, surpassing 4,700, while the iEdge Singapore Next 50 Index remained flat at 1,461.50 on Jan 6.
- Jardine Matheson led STI gainers, up 4%, while Frasers Centrepoint Trust was the worst performer, dropping 1.7%.
- Singapore's Q4 GDP showed robust growth, with manufacturing up 15% year-on-year, driven by biomedical and electronics sectors.
AI generated
SINGAPORE - Singapore stocks ended higher on Jan 6, extending gains from the previous day.
The benchmark Straits Times Index (STI) gained 1.3 per cent, or 59.47 points, to finish at 4,739.97, crossing the 4,700 mark for the first time. Meanwhile, the iEdge Singapore Next 50 Index remained flat at 1,461.50.
Across the broader market, losers edged out winners 284 to 282, after 1.7 billion securities worth $1.8 billion changed hands.
Key regional indexes were mixed. Hong Kong’s Hang Seng Index gained 1.4 per cent, Japan’s Nikkei 225 rose 1.3 per cent and South Korea’s Kospi climbed 1.5 per cent. The FTSE Bursa Malaysia KLCI, meanwhile, lost 0.5 per cent.
Jardine Matheson led the gainers on Singapore’s blue-chip index, rising 4 per cent, or US$2.75, to end at US$72.00.
The worst performer among STI constituents was Frasers Centrepoint Trust, which fell 1.7 per cent, or 4 cents, to close at $2.28.
The three local banks ended higher. DBS gained 2.3 per cent, or $1.28, to $57.93. UOB was up 1.2 per cent, or 41 cents, at $35.91. OCBC rose 1.1 per cent, or 22 cents, to $20.18, breaching the $20 mark for the first time.
“Geopolitical risks have clearly escalated over the past week, reviving questions about whether markets are fully pricing in the impact of recent US actions in Venezuela,” said Mr Geoff Howie, market strategist at Singapore Exchange. “Yet, markets are also digesting Singapore’s robust preliminary fourth-quarter 2025 GDP, with manufacturing up 15 per cent year on year, driven by biomedical and electronics gains,” he added. THE BUSINESS TIMES
