STI closes up as US dollar gains on fading hurricane fears

The benchmark Straits Times Index ended higher by 4.49 points, or 0.14 per cent, at 3,233.00 points, after closing flat on Monday.
The benchmark Straits Times Index ended higher by 4.49 points, or 0.14 per cent, at 3,233.00 points, after closing flat on Monday.PHOTO: ST FILE

SINGAPORE - Local stocks picked up on Tuesday (Sept 12), as both the yuan and the yen slipped against a stronger US dollar.

The benchmark Straits Times Index ended higher by 7.18 points, or 0.22 per cent, at3,235.69 points, after closing flat on Monday.

The top counter by volume traded was Singtel, which sank by three cents, or 0.8 per cent, to S$3.66 in the wake of an OCBC Investment Research report on Monday that portended ill for the telecommunications sector.

CapitaLand, on the other hand, closed up by four cents, or 1.1 per cent, at S$3.74.

The property company recently made about S$300 million of investments in Indonesia, the biggest economy in South-east Asia, citing sound fundamentals such as steady growth and rising domestic consumption.

American markets took heart and the greenback made some gains, after Hurricane Irma's impact on the coastal state of Florida was less devastating than predicted.