Singapore stocks rise on April 30, snapping four-day losing streak; STI up 0.7%
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The benchmark Straits Times Index gained 0.7 per cent or 27.33 points to 3,832.51.
ST PHOTO: LIM YAOHUI
Wong Chia Peck
SINGAPORE – Equities on the Singapore bourse rose on April 30, as four sessions of losses drew some bargain hunting. Sentiment across most of Asia was also more positive, after Japan’s top trade negotiator said he aimed to make steady progress in tariff negotiations with the US.
The benchmark Straits Times Index (STI) gained 0.7 per cent or 27.33 points to 3,832.51.
The top gainer was property developer Hongkong Land, which rose 4 per cent or 19 US cents to US$4.89.
This marks the fourth straight session that the counter has risen. This is after the company said on April 24 it would sell 147,025 sq ft of One Exchange Square in Hong Kong to the city’s stock exchange operator for HK$6.3 billion (S$1.1 billion) and launch a share buyback programme.
The biggest decliner was Jardine Matheson, which shed 2 per cent or 89 US cents to end at US$44.46.
Singapore’s trio of local banks closed higher. DBS Bank rose 0.9 per cent or 37 cents to $42.45, while UOB added 0.8 per cent or 28 cents to end at $34.64. OCBC Bank closed 1.1 per cent or 17 cents higher at $16.15.
Across the broader market, gainers beat decliners 288 to 177, after 971.8 million securities worth $1.4 billion changed hands.
Equities across Asia traded mostly higher. Japan’s Nikkei 225 advanced 0.6 per cent to close at its highest in a month. Hong Kong’s Hang Seng Index also rose, by 0.5 per cent. The Shenzhen Component Index gained 0.5 per cent, while the Shanghai Composite was the outlier among Greater China indexes, shedding 0.2 per cent. THE BUSINESS TIMES
