Singapore stocks gain more ground as regional indexes end mixed
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The benchmark Straits Times Index gained 0.1 per cent or 6.16 points to finish at 4,513.24.
PHOTO: ST FILE
Benjamin Cher
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- Singapore's Straits Times Index (STI) increased by 0.1 per cent, closing at 4,513.24, while the iEdge Singapore Next 50 Index decreased by 0.6 per cent.
- DFI Retail was the top gainer in the STI, increasing by 1.5 per cent, while UOL was the worst performer, decreasing by 1.8 per cent.
- Market anxiety surrounds the US Federal Reserve's policy decision due to concerns about inflation and rising interest rates globally, according to Interactive Brokers.
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SINGAPORE - Stocks in Singapore ended higher on Dec 9 amid a mixed showing by regional peers.
The benchmark Straits Times Index (STI) gained 0.1 per cent or 6.16 points to finish at 4,513.24. Meanwhile, the iEdge Singapore Next 50 Index lost 0.6 per cent or 8.08 points to 1,436.58.
Across the broader market, gainers trailed losers 262 to 265, after 1.1 billion securities worth $1.1 billion changed hands.
Key regional indexes were mixed. Hong Kong’s Hang Seng Index lost 1.3 per cent, Japan’s Nikkei 225 index gained 0.1 per cent, South Korea’s Kospi lost 0.3 per cent and the FTSE Bursa Malaysia KLCI gained 0.1 per cent.
DFI Retail led the gainers on Singapore’s blue-chip index, rising 1.5 per cent or six US cents to end at US$4.07.
The worst performer among STI constituents was UOL, falling 1.8 per cent or 15 cents to close at $8.42.
The three local banks ended mixed on Dec 9. DBS rose 0.3 per cent or 15 cents to $54.12 and OCBC Bank was up 0.3 per cent or six cents at $18.79, while UOB finished 0.5 per cent or 16 cents lower at $34.28.
On the iEdge Singapore Next 50 Index, the top gainer was Pan United, rising 2 per cent or two cents to $1.03. The worst performer was Nanofilm, which fell 3.2 per cent or two cents to $0.60.
The market remains anxious about the US Federal Reserve’s policy decision on Dec 10, with concerns over sticky inflation driving interest rates higher globally, said Mr Jose Torres, senior economist at Interactive Brokers. Rising yields are driven by expectations of widening fiscal deficits heading into 2026, which bolsters economic growth prospects.
“However, heavier borrowing costs amid the anticipation of a hawkish cut on Wednesday are blunting the bullish enthusiasm normally associated with an eventful Merger Monday,” said Mr Torres. THE BUSINESS TIMES
