STI closes higher despite tightened Covid-19 curbs

The benchmark Straits Times Index rose 0.81 per cent to close at 3,079.69 points. ST PHOTO: DESMOND WEE

SINGAPORE (THE BUSINESS TIMES) - Singapore shares started the week in positive territory, despite the city-state going into heightened alert amid a fresh wave of infections.

Among tightened restrictions are a ban on dining-in and reduced capacity limits for events, attractions, shopping malls and libraries. Schools will also shift to full home-based learning mode from Wednesday.

The benchmark Straits Times Index (STI) rose 0.81 per cent to close at 3,079.69 points on Monday.

Across the broader market, gainers outnumbered losers 331 to 144, with 1.79 billion securities worth S$1.59 billion having changed hands.

Key regional markets were a mixed bag. Hong Kong's Hang Seng Index rose 0.59 per cent and the Kuala Lumpur Composite Index gained 0.06 per cent.

Meanwhile, the Jakarta Composite Index fell 1.76 per cent, Japan's Nikkei 225 dipped 0.92 per cent while Seoul's Kospi was down 0.60 per cent.

The best performer on the STI was Sembcorp Industries, which was up 4.2 per cent to S$1.99. At the bottom of the table was Yangzijiang Shipbuilding, which dipped 1.4 per cent to S$1.39.

Thai Beverage was the most active counter on the blue-chip index, ending the day up 3.7 per cent at 69.5 cents after some 43.4 million shares changed hands.

The firm had on Friday reported a second-quarter net profit of 5.93 billion baht (S$252.3 million), up 19.7 per cent from 4.95 billion baht the previous year.

Maybank Kim Eng on Monday reiterated its "Buy" call on ThaiBev, and raised its target price from S$0.95 to S$0.99, to reflect a price-to-earnings ratio of 20 times.

Among the banking trio, OCBC was the only one that ended the day in the black, edging up 1.5 per cent to S$11.90. DBS fell 0.3 per cent to $29.20, and UOB was down 0.8 per cent to S$25.18.

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.