Singapore stocks track regional gains; STI up 0.4%
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On the STI, the biggest gainer was CapitaLand Ascendas Real Estate Investment Trust, while the biggest decliner was Jardine Cycle & Carriage,.
ST PHOTO: GIN TAY
Tan Nai Lun
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SINGAPORE - Singapore stocks ended higher on June 25, tracking gains in the region.
The benchmark Straits Times Index (STI) rose 0.4 per cent, or 12.14 points, to 3,326.28. Across the broader market, gainers outnumbered losers 287 to 259, after 1.1 billion securities worth $1.1 billion changed hands.
Key indexes in the region largely ended higher. The Nikkei 225 was up 1 per cent, the Kospi Composite Index gained 0.4 per cent, while the Hang Seng Index rose 0.3 per cent.
Meanwhile, the FTSE Bursa Malaysia KLCI was down 0.3 per cent.
Mr Yeap Jun Rong, market analyst at IG, noted that overnight in United States markets, nine of the 11 S&P 500 sectors ended the day in the green, despite unwinding in the tech sector.
This likely suggests that market sentiments continue to lean towards risk-taking, while a near-term positioning readjustment is taking place.
“The rotation towards value may potentially help to offer some support for the region, accompanied by a weaker US dollar and a tick lower in US Treasury yields,” Mr Yeap said.
On the STI, the biggest gainer was CapitaLand Ascendas Real Estate Investment Trust, which rose 1.2 per cent or three cents to close at $2.57.
The biggest decliner was Jardine Cycle & Carriage, which lost 4.2 per cent or $1.19 to $27.35.
The local banking trio ended higher on Tuesday. DBS Bank gained 0.3 per cent or 11 cents to $35.65, OCBC Bank rose 0.7 per cent or 10 cents to $14.41, while UOB was up 1.1 per cent or 32 cents to $30.90. THE BUSINESS TIMES
