Singapore stocks track regional gains; STI up 0.5%
Sign up now: Get ST's newsletters delivered to your inbox
The benchmark Straits Times Index gained 0.5 per cent or 24.38 points to finish at 4,680.50.
ST PHOTO: AZMI ATHNI
Young Zhan Heng
Follow topic:
- Singapore's Straits Times Index (STI) increased by 0.5% to 4,680.50, mirroring gains in regional markets.
- ST Engineering was the top gainer; Hongkong Land performed worst, while local banks DBS, OCBC, and UOB rose
- Regional indexes saw gains, with Japan's Nikkei 225 up 3%, driven by technology and reduced political risk.
AI generated
SINGAPORE - Singapore stocks ended higher on Jan 5, tracking regional gains.
The benchmark Straits Times Index (STI) gained 0.5 per cent or 24.38 points to finish at 4,680.50. The iEdge Singapore Next 50 Index, meanwhile, rose 0.3 per cent or 3.64 points to 1,462.01.
Across the broader market, gainers outnumbered losers 329 to 268, after 1.5 billion securities worth $1.4 billion changed hands.
ST Engineering led the gainers on Singapore’s blue-chip index, rising 3.6 per cent or 30 cents to $8.71.
The worst performer among STI constituents was Hongkong Land, which fell 1.6 per cent or 11 US cents to close at US$6.94.
The three local banks ended Jan 5 higher. DBS Bank gained 0.4 per cent or 25 cents to $56.65, OCBC Bank rose 0.6 per cent or 11 cents to $19.96, and UOB was up 0.7 per cent or 25 cents at $35.50.
Key regional indexes were mostly in positive territory. Japan’s Nikkei 225 gained 3 per cent, South Korea’s Kospi climbed 3.4 per cent and the FTSE Bursa Malaysia KLCI rose 0.6 per cent. Hong Kong’s Hang Seng Index ended the day flat.
The regional gains follow the political upheaval in Venezuela over the weekend.
“The risk premium fades quickly when investors realise the event reduces tail risk rather than amplifying it,” said Mr Stephen Innes, managing partner at SPI Asset Management.
He added that Asia is continuing its rally as technology remains the leading edge.
“Everyone is broadly constructive because earnings visibility still outweighs macro fear at this stage.” THE BUSINESS TIMES
