Bulls And Bears
STI dips even as most other regional markets rise
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Uma Devi
- Mood in Asia lifted by Trump's signing of pandemic relief Bill
- Yangzijiang Shipbuilding is STI's top gainer, most traded stock
- Trio of glove makers, along with DBS and UOB, end in the red
Local shares ended the first day of the week on a slightly dour note, even as other Asian markets rose on the back of US President Donald Trump signing the Covid-19 pandemic relief and spending Bill.
The benchmark Straits Times Index (STI) dipped 1.9 points, or 0.07 per cent, to end at 2,840.14. Across the broader market, decliners outpaced advancers 231 to 207, after 1.46 billion securities worth some $740.4 million changed hands.
Other regional markets mostly ended the day in the black. The KLCI gained 0.2 per cent, the Nikkei 225 added 0.7 per cent, while the Jakarta Composite Index rose 1.2 per cent. Only the Hang Seng Index bucked the trend, closing 0.3 per cent lower.
Said Oanda senior market analyst Jeffrey Halley: "With liquidity lower than usual and a dearth of meaningful news over the weekend, the (US) presidential signing of the omnibus Bill today has lifted sentiment in Asia."
Among the 30 STI stocks, Yangzijiang Shipbuilding was the biggest climber, gaining 2.7 per cent to end at 94.5 cents. With 44.9 million shares changing hands, it was also the most heavily traded STI stock.
Hongkong Land was the biggest constituent decliner. It shed 0.7 per cent to close at US$4.16.
The biggest decliner on the broader market was Jardine Matheson Holdings, which lost 0.3 per cent to US$55.35.
The trio of glove makers were among the decliners. Top Glove fell 3.7 per cent to $2.07 on an ex-dividend basis, Riverstone Holdings lost 5.1 per cent to $1.11, while UG Healthcare shed 4 per cent to finish the day at 59.5 cents.
The three lenders ended the day mixed. DBS fell 0.2 per cent to $25.13, while UOB lost 0.1 per cent to close at $22.68. OCBC, however, inched up 0.1 per cent to $10.07.
