Singapore stocks track Wall Street gains; STI up 0.2%
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The benchmark Straits Times Index rose 7.65 points to 4,747.62.
PHOTO: ST FILE
Young Zhan Heng
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- Singapore's STI rose 0.2% to 4,747.62, with gainers outpacing losers amid mixed regional market performances.
- City Developments Ltd led STI gains (+4.2%), while Singtel was the worst performer (-3.3%); local banks showed mixed results.
- Wall Street's record highs, particularly in memory storage like Western Digital, influenced Singapore's market sentiment.
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SINGAPORE - Singapore shares ended higher on Jan 7, tracking Wall Street gains.
The benchmark Straits Times Index (STI) rose 0.2 per cent or 7.65 points to 4,747.62. Meanwhile, the iEdge Singapore Next 50 Index remained flat at 1,461.63.
Across the broader market, gainers outnumbered losers 307 to 266, after 1.9 billion securities worth $1.8 billion changed hands.
Key regional indexes ended the day mixed.
Hong Kong’s Hang Seng Index lost 0.9 per cent and Japan’s Nikkei 225 fell 1.1 per cent, while South Korea’s Kospi added 0.6 per cent and the FTSE Bursa Malaysia KLCI climbed 0.3 per cent.
On Singapore’s blue-chip index, City Developments led the gainers with a 4.2 per cent or 35 cent rise to $8.74.
The worst performer among the STI constituents was Singtel, which fell 3.3 per cent or 15 cents to $4.39.
The three local banks were mixed at the close.
DBS rose 0.8 per cent or 47 cents to $58.40, and UOB was up 0.3 per cent or 11 cents at $36.02, while OCBC finished 0.6 per cent or 12 cents lower at $20.06.
“Wall Street closed up at record highs,” noted Mr Neil Wilson, UK investor strategist at Saxo Markets.
US stocks rallied overnight, with the S&P 500 notching a record close after gaining 0.6 per cent, and the Nasdaq up 0.7 per cent.
“Memory storage plays seem to be the hottest ticket – (with) Sandisk, Western Digital and Seagate among the biggest risers,” Mr Wilson added, naming Western Digital as last year’s standout performer. THE BUSINESS TIMES
