STI up 0.73%, in line with most Asian markets

The Straits Times Index was up 0.73 per cent, or 22.95 points, at 3,187.23 points.
The Straits Times Index was up 0.73 per cent, or 22.95 points, at 3,187.23 points.PHOTO: ST FILE

SINGAPORE (THE BUSINESS TIMES) - Singapore shares tracked their Asian peers and reported gains on Tuesday (June 1), as the United States market was closed for a holiday on Monday.

The benchmark Straits Times Index (STI) was up 0.73 per cent, or 22.95 points, at 3,187.23 points. Twenty of the constituents made gains while three were flat.

Singapore Airlines, one of the constituents, closed 0.2 per cent higher at $4.99. The airline said it expects the $6.2 billion to be raised from the issuance of additional mandatory convertible bonds to last it until the financial year ending March 2023.

Frasers Logistics & Commercial Trust shed 1.4 per cent to $1.41 on Tuesday, following its announcement on Monday night that it had obtained in-principle approval from the Singapore Exchange for the listing of 240 million new units, which had been placed out at $1.399 a unit to raise $335.8 million.

Watch-listed Oceanus Group was the most active stock with a trading volume of 153.6 million. It closed 5.26 per cent higher at four cents.

Gainers outpaced losers 311 to 202 in the broad market, with 1.88 billion securities worth $1.11 billion transacted.

Most Asian bourses closed with gains.

Hong Kong's Hang Seng Index rose 1.08 per cent to 29,468.00 points, while its Chinese counterpart Shanghai Composite Index was 0.26 per cent higher at 3,624.71 points.

South Korea's Kospi Index rose 0.56 per cent to 3,221.87 points. The FTSE Bursa Malaysia Kuala Lumpur Composite posted a gain of 0.15 per cent to 1,585.90 points.

But Australia's S&P/ASX 200 Index and Japan's Nikkei 225 Index continued to close in the red for two days in a row. The S&P/ASX 200 Index slid 0.27 per cent to 7,142.57 points, while the Nikkei 225 Index slipped 0.16 per cent to 28,814.34 points.