Bulls And Bears
S'pore market up 0.18%, with sentiment lifted by inflation data
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Uma Devi
- Global efforts to tackle virus could also be factor, says analyst
- iFast and Jardine C&C among gainers, but aviation stocks down
- Asian markets mixed: Nikkei rises but Hang Seng, Kospi dip
Local shares edged up yesterday, as investor sentiment was lifted by Singapore's core and headline inflation figures for last month continuing on a positive trend.
The benchmark Straits Times Index rose 5.72 points, or 0.18 per cent, to 3,123.61.
Advancers outpaced decliners 248 to 193, with about 1.44 billion securities worth $1.04 billion changing hands.
Singapore Exchange market strategist Geoff Howie said "positive developments in global efforts to overcome the coronavirus" could also have given investor sentiment a lift.
"On Sunday, new daily confirmed global Covid-19 cases reached eight-week lows, which followed last Thursday's record of more than 33 million vaccine doses administered in one day," he added.
On the local bourse, iFast Corporation was the biggest gainer. The stock advanced 2.1 per cent to end at $7.69. Jardine Cycle & Carriage was another gainer, adding 0.6 per cent to $22.00.
On the other end of the spectrum, Jardine Matheson Holdings was the biggest loser. It closed at US$63.90, down 1.3 per cent.
Aviation-related stocks were among the decliners as the recent spike in virus cases in the community trampled hopes of a recovery in the sector. Singapore Airlines lost 0.6 per cent to $4.74, and Sats fell 1.3 per cent to $3.70.
Glove stocks, too, began the week in the red. Top Glove fell 0.6 per cent to $1.70, Riverstone lost 1.4 per cent to $1.45, and UG Healthcare shed 1.5 per cent to 65.5 cents.
Elsewhere in Asia, markets ended the day mixed. The Nikkei 225 rose 0.2 per cent, and the KLCI added 0.6 per cent. The Hang Seng Index and Jakarta Composite Index each fell 0.2 per cent, and the Kospi lost 0.4 per cent.
