STI snaps 7-day losing streak, rising 0.19%
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The benchmark Straits Times Index rose 0.19 per cent, or 5.85 points, to close at 3,159.88.
PHOTO: LIANHE ZAOBAO
Megan Cheah
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SINGAPORE - Singapore shares posted gains on Tuesday, as the country’s presidential hopefuls Ng Kok Song, Tharman Shanmugaratnam and Tan Kin Lian filed their nomination papers.
The benchmark Straits Times Index (STI) snapped a seven-day losing streak, rising 0.19 per cent, or 5.85 points, to 3,159.88.
Across the broader market, gainers outnumbered losers 334 to 257, as 1.17 billion securities worth $925.39 million changed hands.
Mainboard-listed Frasers Property fell 1.85 per cent, or 1.5 cent, to 79.5 cents. The real estate group secured a $1.08 billion five-year green term loan club facility to refinance its maturing term loan facility, due in September, for Frasers Tower.
On the STI, DFI Retail Group was the top loser; it fell 2.9 per cent, or seven US cents, to US$2.37.
Thai Beverage shares were once again the largest gainer, ending the day at 58.5 cents, up 2.6 per cent, or 1.5 cent.
The trio of local banks tracked the STI’s climb.
DBS Group Holdings closed at $32.66, up 0.4 per cent, or 14 cents; UOB finished up 0.2 per cent, or six cents, at $27.84; and OCBC Bank gained 0.3 per cent, or four cents, ending at $12.25.
Regional indexes were back in the black on Tuesday.
Japan’s Nikkei 225 climbed 0.9 per cent, while South Korea’s Kospi Composite Index was up 0.3 per cent. The Hang Seng Index increased 1 per cent and the FTSE Bursa Malaysia KLCI gained 0.1 per cent.
IG market strategist Yeap Jun Rong warned that the Asia-Pacific’s higher sensitivity to China “remains a drag” and could “paint a low-for-longer growth outlook” as the country’s economy does not yet show signs of a turnaround. THE BUSINESS TIMES
