Singapore stocks track regional gains on Nov 27; STI up 0.2%
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The benchmark Straits Times Index gained 0.2 per cent or 7.78 points to finish at 4,509.34.
PHOTO: ST FILE
Tan Nai Lun
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- Singapore's STI rose 0.2% to 4,509.34, with gainers outpacing losers amid positive regional market trends.
- Wall Street's gains fuel optimism, with investors anticipating potential US Federal Reserve policy changes.
- DFI Retail Group led STI gains, while UOL was the worst performer; local banks showed mixed results.
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SINGAPORE – Singapore stocks ended higher on Nov 27, tracking gains in the region.
The benchmark Straits Times Index (STI) gained 0.2 per cent, or 7.78 points, to finish at 4,509.34. The iEdge Singapore Next 50 Index inched down 0.05 per cent, or 0.68 points, to 1,444.74.
Across the broader market, gainers outnumbered losers 270 to 216, after 1.2 billion securities worth $1.2 billion changed hands.
Key regional indexes were largely in positive territory.
Hong Kong’s Hang Seng Index gained 0.1 per cent, Japan’s Nikkei 225 gained 1.2 per cent, and South Korea’s Kospi Composite Index gained 0.7 per cent.
Meanwhile, the FTSE Bursa Malaysia KLCI shed 0.4 per cent.
Mr Stephen Innes, managing partner at SPI Asset Management, noted that overnight, Wall Street stocks logged their best four-day stretch since May.
He said investors are preparing for a new US Federal Reserve chairman who would likely bring “faster cuts, a lower neutral rate”, and a “growth-first, inflation-second” world view.
“It’s oxygen for risk assets – especially the AI (artificial intelligence) complex that drinks cheap capital like it’s running a marathon in July,” he added.
On the STI, DFI Retail Group was the top gainer, rising 1.5 per cent, or 5 US cents, to end at US$3.44.
The worst performer among the index’s constituents was UOL, which fell 1.4 per cent, or 12 cents, to close at $8.47.
The three local banks ended Nov 27 mixed.
DBS Bank rose 0.3 per cent, or 16 cents, to $54, and OCBC Bank was up 0.2 per cent, or four cents, at $18.27.
UOB finished 0.1 per cent, or three cents, lower at $33.89. THE BUSINESS TIMES
