Bulls And Bears

STI gains 0.74% in steady climb through trading day

• Across broader market, gainers trump losers 279 to 201 • Asian markets mixed: S. Korea, Shanghai advance; Japan slips • Wilmar tops index, followed by SIA on news of $84m aviation aid

Singapore shares climbed steadily in yesterday's trading session after rising at the open, with the benchmark Straits Times Index (STI) ending the day up 0.74 per cent, or 21.08 points, at 2,869.22.

Among the STI constituents, Wilmar International was the top performer, gaining 2.38 per cent, or 11 cents, to close at $4.73.

Coming in second was Singapore Airlines, which closed up 2.12 per cent, or nine cents, at $4.33.

This comes after Tuesday's announcement that the Government has earmarked $84 million as additional aid to tide the aviation sector over the Covid-19 crisis.

Thai Beverage rose 1.37 per cent, or one cent, to close at 74 cents.

In a report yesterday, RHB reiterated its "buy" call on the beer and liquor giant, adding that it is its top pick for the Singapore consumer sector. Analyst Juliana Cai noted ThaiBev's solid fundamentals, attractive valuation and better prospects for the next financial year.

"Moving into (FY2021), we expect earnings to be supported by a steady improvement in local demand on the back of recovery in on-premises consumption," she said.

Across the Singapore market, advancers trump decliners 279 to 201, with 1.55 billion securities worth $874.58 million changing hands.

Asian markets ended mixed.

In its last trading day of this year, the Nikkei 225 Index closed down 0.45 per cent, or 123.98 points, to 27,444.17. But over the year, it has risen 16 per cent to its highest annual close since 1989.

The benchmark Kospi closed up 1.88 per cent, or 52.96 points, to a record high of 2,873.47. The index has posted gains of more than 30 per cent for this year, its biggest annual jump in 11 years.

The Shanghai Composite Index also advanced, moving up 1.05 per cent, or 35.42 points, to 3,414.45.

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A version of this article appeared in the print edition of The Straits Times on December 31, 2020, with the headline STI gains 0.74% in steady climb through trading day. Subscribe