STI, most other Asian markets shrug off hint of sharp Fed hikes

Stock markets in Asia mostly closed higher on half-day trading yesterday, shrugging off the possibility flagged by a US Federal Reserve official of sharper interest-rate increases.

The Straits Times Index (STI), Singapore's blue-chip gauge, inched up 0.1 per cent or 3.26 points to 3,249.59 points on the eve of Chinese New Year. The number of gainers and decliners on the STI was almost equal: 13 to 12, with the remaining five closing flat.

OCBC Bank closed up 0.4 per cent to $12.47, a day after the local bank said it had arranged goodwill payouts to all customers who were scammed a total of $13.7 million in the recent high-profile phishing incident.

Mapletree Commercial Trust hit its 52-week low at $1.80 despite posting a 5.6 per cent year-on-year rise in net property income to $291.3 million for the nine months to Dec 31 last year.

The downward trajectory came as its trust manager proposed to merge it with fellow real estate investment trust (Reit) Mapletree North Asia Commercial Trust.

Gainers beat decliners 254 to 160 in the broader market, with 762.73 million securities worth $1.03 billion transacted.

Separately, CapitaLand China Trust (CLCT) posted a distribution per unit (DPU) of 4.50 Singapore cents for its second half ended Dec 31, 2021, up 35.1 per cent from a DPU of 3.33 cents a year ago.

This comprised an advanced distribution of 2.70 cents per unit for the period July 1 to Oct 20, following a private placement on Oct 21, which was paid in November, and a distribution of 1.80 cents for the period Oct 21 to Dec 31, its manager said in a statement.

Japan's Nikkei 225 Index rose by 1.36 per cent to 27,081.34 points while Australia's S&P/ASX 200 slipped by 0.02 per cent to 6,986.70 points as at mid-day trading.

Hong Kong's Hang Seng Index closed 1.07 per cent up to 23,802.26 points; the FTSE Bursa Malaysia KLCI closed 0.51 per cent lower at 1,512.27 points.