STI continues rally, in line with most regional markets
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The STI tracked most of its regional peers at Nov 12's close, inching up 0.6 per cent to finish at 4,568.91.
PHOTO: ST FILE
Benjamin Cher
- Singapore's STI rose 0.6% to 4,568.91, with gainers outnumbering losers in the broader market, as regional indexes mostly gained.
- Jardine Matheson led STI gainers, rising 4.1%; Mapletree PanAsia Commercial Trust was the worst performer, falling 1.4%.
- Positive data and liquidity flow, driven by easing US shutdown fears, boosted market sentiment toward a year-end rally.
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SINGAPORE - Singapore stocks ended higher on Nov 12, tracking most of its regional peers.
The benchmark Straits Times Index (STI) gained 0.6 per cent or 26.71 points to finish at 4,568.91. Meanwhile, the iEdge Singapore Next 50 Index gained 0.1 per cent or 1.25 points to 1,457.29.
Across the broader market, gainers outnumbered losers 324 to 257, after 1.8 billion securities worth $1.8 billion changed hands.
Key regional indexes mostly gained.
Hong Kong’s Hang Seng Index went up 0.9 per cent; Japan’s Nikkei 225 index increased 0.4 per cent; South Korea’s Kospi gained 1.1 per cent; but the FTSE Bursa Malaysia KLCI lost 0.2 per cent.
Jardine Matheson led the gainers on Singapore’s blue-chip index, rising 4.1 per cent or US$2.58 to end at US$66.03.
The worst performer among STI constituents was Mapletree PanAsia Commercial Trust, which fell 1.4 per cent or two cents to close at $1.46.
The three local banks ended mixed on Nov 12. OCBC rose 0.9 per cent or 16 cents to $18.71; while UOB was up 0.3 per cent or 10 cents at $34.13; and DBS finished 0.1 per cent or three cents lower at $55.05.
With the prospect of the US government shutdown lifting, data and renewed liquidity flow are coming back into the picture, said Mr Stephen Innes, managing partner at SPI Asset Management.
“The mood on desks is shifting from caution to quiet determination; everyone wants their year-end rally, and it’ll take something seismic to knock that instinct out of them,” he noted. THE BUSINESS TIMES
