Singapore stocks rise amid mixed regional trading; STI up 0.6%
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Across the broader market, gainers outnumbered losers 336 to 238, after 2.1 billion securities worth $3.2 billion changed hands.
ST PHOTO: KUA CHEE SIONG
Tan Nai Lun
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- Singapore's STI rose 0.6% to 4,496.63 amid mixed regional trading, with 336 gainers to 238 losers.
- Singapore revised its 2025 GDP forecast upwards to 4%, driven by manufacturing resilience and retail improvements.
- Jardine Matheson led STI gains, rising 8.7%, while Singapore Exchange was the worst performer, down 1.1%.
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SINGAPORE – Singapore stocks ended higher on Nov 24 amid mixed trading in the region.
The benchmark Straits Times Index (STI) gained 0.6 per cent or 27.49 points to finish at 4,496.63. The iEdge Singapore Next 50 Index lost 1.2 per cent or 16.82 points to close at 1,438.67.
Across the broader market, gainers outnumbered losers 336 to 238, after 2.1 billion securities worth $3.2 billion changed hands.
Key regional indexes were mixed. Hong Kong’s Hang Seng Index gained 2 per cent and the FTSE Bursa Malaysia KLCI rose 0.1 per cent. Meanwhile, Japan’s Nikkei 225 lost 2.4 per cent and South Korea’s Kospi fell 0.2 per cent.
Mr Paul Chew, head of research at Phillip Securities Research, noted several positive news items for the equity market in Singapore. Singapore “drastically raised” its 2025 gross domestic product growth forecast to around 4 per cent from 1.5 per cent to 2.5 per cent, as manufacturing was more resilient than expected, and retail and accommodation picked up pace.
Mr Chew also noted the announcement of the second batch of asset managers for the Equity Market Development Programme.
The liquidity is “focused on small- and mid-cap stocks, thereby providing a boost to valuations”, he said. “We think the recent weakness is a buying opportunity before liquidity and momentum build back up for small and mid-cap stocks.”
Leading gains on the STI was Jardine Matheson Holdings, which rose 8.7 per cent or US$5.41 to end Nov 24 at US$67.56. The worst performer was the Singapore Exchange, which fell 1.1 per cent or 18 cents to close at $16.54.
The three local banks had a mixed showing. OCBC Bank rose 0.1 per cent or one cent to $18.08, and UOB was up 0.1 per cent or four cents at $33.89. DBS finished 0.5 per cent or 29 cents lower at $53.38. THE BUSINESS TIMES
