Bulls And Bears

S'pore shares post gains in tandem with most Asian markets

20 STI constituents make gains while three stay flat. Singapore Airlines closes 0.2% higher at $4.99. Oceanus Group most actively traded with volume of 153.6m.

Singapore shares tracked its Asian peers and reported gains yesterday, as the United States market was closed for a holiday on Monday.

The benchmark Straits Times Index (STI) was up 0.73 per cent or 22.95 points at 3,187.23 points. Twenty of the constituents made gains while three were flat.

Singapore Airlines, one of the constituents, closed 0.2 per cent higher at $4.99. The airline said it expects the $6.2 billion to be raised from the issuance of additional mandatory convertible bonds to last it till the financial year ending March 2023.

Frasers Logistics & Commercial Trust shed 1.4 per cent to $1.41, following its announcement on Monday night that it had obtained in-principle approval from Singapore Exchange for the listing of 240 million new units, which had been placed out at $1.399 a unit to raise $335.8 million.

Watch-listed Oceanus Group was the most active stock with a trading volume of 153.6 million. It closed 5.26 per cent higher at four Singapore cents.

Gainers outpaced losers 311 to 202 in the broad market, with 1.88 billion securities worth $1.11 billion changing hands.

Most Asian bourses closed with gains.

Hong Kong's Hang Seng Index rose 1.08 per cent to 29,468 points, while its Chinese counterpart, the Shanghai Composite Index, was 0.26 per cent higher at 3,624.71 points.

South Korea's Kospi Index was 0.56 per cent higher at 3,221.87 points. The FTSE Bursa Malaysia Kuala Lumpur Composite posted 0.15 per cent gains to 1,585.90 points.

But Australia's S&P/ASX 200 Index and Japan's Nikkei 225 Index continued to close in the red for two days in a row.

The S&P/ASX 200 Index slid 0.27 per cent to 7,142.57 points, while the Nikkei 225 Index slipped 0.16 per cent to 28,814.34 points.

A version of this article appeared in the print edition of The Straits Times on June 02, 2021, with the headline 'S'pore shares post gains in tandem with most Asian markets'. Subscribe