Bulls And Bears
S'pore market ends in the black, extending last week's gains
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Rae Wee
- STI up 0.25%, with gainers outpacing losers 244 to 224
- Sembcorp Industries tops table; ThaiBev slumps to bottom
- Chinese markets close higher; Nikkei and Kospi end flat
Singapore stocks extended last week's gains to end in positive territory yesterday, with the benchmark Straits Times Index (STI) gaining 7.96 points, or 0.25 per cent, to close at 3,209.72.
Among the STI constituents, Sembcorp Industries emerged top of the table, advancing 9.8 per cent to $2.13. Coming in second was Yangzijiang Shipbuilding, which closed up 5.4 per cent at $1.37.
At the other end of the spectrum, Thai Beverage slumped to the bottom, ending 3.4 per cent lower at 72 cents, following the deferment of the proposed spin-off and listing of its subsidiary BeerCo on the Singapore Exchange.
Aviation counters Singapore Airlines (SIA) and Sats also suffered losses, declining 3.2 per cent and 0.9 per cent respectively.
In its March 2021 operating results announced last week, SIA said its overall passenger carriage was lower by 90.2 per cent year on year, as border controls and travel restrictions remained in place in many parts of the world.
On the broader market, advancers outnumbered decliners 244 to 224, as 2.46 billion securities worth $1.66 billion changed hands.
Across the region, Chinese markets similarly ended the day up.
The Shanghai Composite Index gained 1.5 per cent, while the Hang Seng Index ended 0.5 per cent higher.
The Nikkei 225 index in Tokyo and South Korea's benchmark Kospi both inched up just 0.01 per cent.
Mr Olivier d'Assier, head of applied research for the Asia-Pacific at Qontigo, said yesterday that investors have become "increasingly befuddled about what the (uneven) strength of the global economic recovery means for markets in the short term".
