STI up 1.4% as Singapore shares track regional gains
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![CMG20240716-HengYY01 / 王彦燕 / SGX Centre 新加坡交易所 [Shenton Way] SGX logo in front of the SGX Centre building at Shenton Way.](https://cassette.sphdigital.com.sg/image/straitstimes/21a135435ee08090b6e337929ce2e153ea68721f323e97834aa2874af6e2e231?w=480)
The benchmark Straits Times Index rose 1.4 per cent or 54.75 points higher to 3,855.82.
PHOTO: LIANHE ZAOBAO
Tan Nai Lun and Romaine Chan
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SINGAPORE - Singapore shares tracked regional gains on Jan 31, ending the week higher after markets reopened following the two-day break for the Chinese New Year holidays.
The benchmark Straits Times Index (STI) rose 1.4 per cent or 54.75 points higher to 3,855.82. Across the broader market, gainers outnumbered losers 282 to 140, after one billion securities worth $1.8 billion changed hands.
Regional indexes were largely higher. Japan’s Nikkei 225 rose 0.2 per cent, the FTSE Bursa Malaysia KLCI was up 0.3 per cent, while the Jakarta Stock Exchange Composite Index gained 0.5 per cent.
Meanwhile, South Korea’s Kospi lost 0.8 per cent, while the Hong Kong and Shanghai markets remained closed for Chinese New Year.
On Jan 29, the US Federal Reserve announced that it would keep interest rates steady, in a widely expected move.
“We aren’t waiting for Fed decisions or guidance; rather, we are waiting for economic outcomes and incoming policy moves that will drive those outcomes, namely from the Trump administration,” said Mr John Hardy, chief macro strategist at Saxo.
“Trump is the first mover for now and will remain so until we have the firm outlines of his administration’s tariff schedule and the pace at which it will or won’t ratchet (up tariffs) as well as the follow-on response from the rest of the world,” he added.
Meanwhile, Mr Hardy expects to continue seeing some fallout in key market sectors amid news about DeepSeek, “the market’s brave attempt to brush this off notwithstanding”.
On the STI, Genting Singapore was the biggest gainer, rising 3.4 per cent to 75 cents.
On Jan 31, rival integrated resorts operator Marina Bay Sands posted a 7.2 per cent rise in net revenue to US$1.1 billion (S$1.5 billion) for the fourth quarter ended Dec 31, 2024.
Meanwhile, Mapletree Logistics Trust was the biggest decliner, falling 3.2 per cent to $1.22.
The local banking trio ended higher.
DBS Bank rose 2 per cent to $44.61, OCBC Bank gained 2.1 per cent to $17.40, and UOB was up 1.7 per cent at $37.51. THE BUSINESS TIMES
