STI breaks five-day losing streak to gain 0.4%

The Straits Times Index (STI) broke a five-day losing streak to finish 13.97 points, or 0.44 per cent, higher at 3,187.9 yesterday.

About 2.09 billion securities worth $1.23 billion changed hands. Advancers outnumbered decliners 285 to 192.

The best index performer was Sembcorp Industries, which rebounded from its recent price slide, adding 2.67 per cent to $1.92 on a positive UOB Kay Hian report that was bullish on the prospects of its renewable energy segment.

Genting Singapore performed the worst, losing 1.62 per cent to 91 cents, on the back of Moody's report that the casino operator's earnings before interest, tax, depreciation and amortisation are likely to remain below 2019 levels this year and the next, as the operating environment remains challenging and international travel restrictions continue to weigh on its recovery.

Gold miner Anchor Resources was the most active counter of the day, with about 300.7 million shares traded. Its share price fell 9.38 per cent to 2.9 cents.

The region finished mixed, with Japan's Nikkei 225 up 0.72 per cent, Hong Kong's Hang Seng Index up 0.15 per cent, China's Shanghai Composite down 0.48 per cent and Malaysia's Kuala Lumpur Composite retreating 0.67 per cent.

Axi chief global markets strategist Stephen Innes said mixed China trade data helped lift Asia from earlier lows. Elsewhere, the US dollar and Treasury yields rose slightly.

"Treasury auctions will be a huge market focus, with the US set to sell a record US$343 billion (S$460 billion) over the next three weeks," Mr Innes said. "Investors are looking ahead to starting the first-quarter US earnings season, with banks among the first reporters."

Bitcoin was sitting just short of US$61,000 as investors kept tabs on the debut of cryptocurrency exchange Coinbase on Nasdaq today.