Singapore stocks rise as market cheers new SGX measures; STI up 0.2%
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Across the broader market, gainers beat losers 349 to 229, after 1.4 billion securities worth $1.4 billion changed hands.
PHOTO: BT FILE
Young Zhan Heng
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- Singapore's STI rose 0.2% following SGX measures to boost equities, including a Nasdaq dual-listing bridge and "Value Unlock" programme.
- The dual-listing bridge, expected mid-2026, allows firms to list on SGX and Nasdaq with simplified processes.
- DBS, OCBC and UOB shares rose, while Sats fell. Julius Baer views the measures as positive for Singapore's stock market.
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SINGAPORE – Singapore stocks ended higher on Nov 20, as the market cheered the latest set of measures announced by the Singapore Exchange (SGX)
The measures, aimed at strengthening the Singapore equities market, include a dual-listing bridge between the SGX and Nasdaq, and a Value Unlock programme to help listed companies boost investment engagement.
The benchmark Straits Times Index (STI) rose 0.2 per cent, or 6.65 points, to finish at 4,511.87. Meanwhile, the iEdge Singapore Next 50 Index was up 0.1 per cent, or 0.82 points, at 1,446.93.
Across the broader market, gainers beat losers 349 to 229, after 1.4 billion securities worth $1.4 billion changed hands.
Key regional indexes were mixed. Hong Kong’s Hang Seng Index closed flattish – gaining 0.02 per cent, Japan’s Nikkei 225 index advanced 2.7 per cent, and South Korea’s Kospi rose 1.9 per cent. Meanwhile, the FTSE Bursa Malaysia KLCI lost 0.2 per cent.
Frasers Logistics & Commercial Trust led the gainers on Singapore’s blue-chip index, rising 1.6 per cent, or 1.5 cent, to end at 95 cents.
The three local banks ended higher. DBS gained 0.3 per cent, or 15 cents, to $53.85, OCBC Bank advanced 0.6 per cent, or 10 cents, to $18.26, and UOB was up 0.2 per cent, or six cents, at $33.90.
The worst performer among the STI constituents was Sats, which fell 1.2 per cent, or four cents, to close at $3.39.
Ms Chua Jen-Ai, equity research analyst from Julius Baer, said: “The latest developments are a positive signal of commitment by the regulators to explore new measures to revitalise the stock market.”
However, she noted that it will take some time for the measures to take effect.
“We remain positive on the Singapore equities market, given the ongoing stock-market reform measures, a strong Singapore dollar, and Singapore’s track record of governance,” she added. THE BUSINESS TIMES
