Singapore stocks gain more ground as key index crosses 5,000; STI up 0.7%
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The benchmark Straits Times Index gained 0.7 per cent or 32.18 points to finish at 5,016.76.
ST PHOTO: AZMI ATHNI
SINGAPORE - Singapore stocks ended higher on Feb 12 as regional indexes mostly tracked lower.
The benchmark Straits Times Index (STI) gained 0.7 per cent or 32.18 points to finish at 5,016.76, the first time it has closed above the 5,000 level.
Meanwhile, the iEdge Singapore Next 50 Index rose 0.1 per cent or 1.35 points to 1,519.58.
Across the broader market, gainers edged out losers 315 to 300, after 1.3 billion securities worth $2.2 billion changed hands.
Wilmar led the gainers on Singapore’s blue-chip index, rising 2.6 per cent or nine cents to close at $3.59.
The worst performer among STI constituents was Ascendas REIT, which fell 3.9 per cent or 11 cents to end at $2.70.
The three local banks ended higher. DBS Bank gained 0.5 per cent or 28 cents to $57.78, OCBC Bank surged 2 per cent or 43 cents to $21.78, and UOB was up 1.5 per cent or 58 cents to $39.48.
The best performer on the iEdge Singapore Next 50 Index was Frencken, which rose 2.2 per cent or four cents to $1.90.
The worst performer on the iEdge Singapore Next 50 Index was StarHub, which closed down 5 per cent or six cents to $1.14 after reporting a 50.9 per cent drop in second-half profit
Across the region, benchmark indexes mostly ended lower on Feb 12. Hong Kong’s Hang Seng Index closed down 0.9 per cent while Malaysia’s KLCI was down 0.3 per cent. However, South Korea’s Kospi closed up 3.1 per cent while Japan’s Nikkei 225 was flat.
The equity rally in the US faded overnight on Feb 11 after investor enthusiasm was quelled by quashed rate-cut hopes, said Mr Jose Torres, senior economist at Interactive Brokers.
The chance of a 75-basis-point reduction in 2026 has been pared by lower-than-expected unemployment and wages exceeding forecasts. THE BUSINESS TIMES
