Singapore stocks rebound amid mixed showing in region
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Across the broader market, gainers edged out losers 334 to 238, after 1.4 billion securities worth $1.9 billion changed hands.
ST PHOTO: AZMI ATHNI
Benjamin Cher
- Singapore's STI rose 0.2% to 4,898.18, with gainers outpacing losers.
- Regionally, indexes were mixed; Hong Kong's Hang Seng gained while Japan's Nikkei 225 and South Korea's Kospi declined.
- Market turbulence stems from Iran-US tensions, impacting crude oil prices and interest rates, weighing on global growth and stocks, according to Mr Jose Torres.
AI generated
SINGAPORE – Singapore stocks ended higher on March 27 as regional indexes posted mixed results.
The benchmark Straits Times Index (STI) gained 0.2 per cent or 10.42 points to finish at 4,898.18. Meanwhile, the iEdge Singapore Next 50 Index lost 0.7 per cent or 10.72 points to 1,448.97.
Within the iEdge Singapore Next 50 Index, UOB Kay Hian was the top gainer, rising 5.7 per cent or 19 cents to finish at $3.53, while Yanlord Land was the top loser, falling 2.4 per cent or 1.5 cents to end the session at 60.5 cents.
Across the broader market, gainers outnumbered losers 334 to 238, after 1.4 billion securities worth $1.9 billion changed hands.
Key regional indexes were mixed. Hong Kong’s Hang Seng Index gained 0.4 per cent and the FTSE Bursa Malaysia KLCI advanced 0.1 per cent, while Japan’s Nikkei 225 index fell 0.4 per cent and South Korea’s Kospi was down 0.4 per cent.
Seatrium led the gainers on Singapore’s blue-chip index, rising 2.6 per cent or six cents to end at $2.35.
The worst performer among STI constituents was Keppel, falling 3 per cent or 37 cents to close at $11.90.
The three local banks ended higher. DBS Bank gained 0.1 per cent or three cents to $57.15, OCBC Bank rose 0.2 per cent or five cents to $21.57, and UOB was up 0.5 per cent or 17 cents at $36.85.
The market is navigating another bout of turbulence over Tehran’s rejection of Washington’s peace offer, as investors fear a further escalation of the conflict, said Mr Jose Torres, senior economist at Interactive Brokers.
With US President Donald Trump threatening more military action, including troops on the ground if Iranian officials do not agree on a deal soon, those fears are justified. “The lack of agreement is injecting more geopolitical premium into asset classes by lifting crude oil prices and interest rates, thereby weighing on the global growth outlook and, in turn, on stocks,” said Mr Torres. THE BUSINESS TIMES
