Singapore stocks track regional gains; STI up 0.5%
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The benchmark Straits Times Index (STI) rose 0.5 per cent or 18.2 points to 3,954.53.
PHOTO: ST FILE
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SINGAPORE - Singapore stocks ended higher on March 25, tracking gains in the region.
The benchmark Straits Times Index (STI) rose 0.5 per cent or 18.2 points to 3,954.53. Across the broader market, losers outnumbered gainers 280 to 220, after 1.1 billion securities worth $1.4 billion changed hands.
Key indexes in the region largely ended higher, tracking Monday’s gains on Wall Street. The Nikkei 225 was up 0.5 per cent, the Bursa Malaysia Kuala Lumpur Composite Index gained 0.7 per cent, while the IDX Composite advanced 1.2 per cent. The Hang Seng Index was down 2.4 per cent.
Chinese equities were under pressure as the country buys oil from Venezuela and is concerned by the new tariff threats from the United States, said Swissquote Bank senior analyst Ipek Ozkardeskaya.
She noted that US President Donald Trump threatened to impose 25 per cent levies on countries that buy oil from Venezuela.
Nevertheless, the week started on “quite a positive note”, in hopes that the next wave of US tariffs – expected to hit the ground on April 2 – would be more targeted and more measured than previously thought, she said.
Ms Ozkardeskaya expects April 2 will be the next important test for global markets depending on the announcement of reciprocal tariffs – which will probably upset more than one.
On the STI, Singapore Exchange was the top gainer, rising 1.9 per cent to $13.33.
The biggest decliner was Venture Corporation, which fell 2.2 per cent to $12.45.
The local banking trio ended higher. DBS gained 1.2 per cent to close at $46.05, OCBC was up 0.8 per cent at $17.19, and UOB added 0.2 per cent to settle at $37.90. THE BUSINESS TIMES
