Singapore stocks extend recent gains amid mixed regional showing; STI up 1%
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In the broader Singapore market, gainers beat losers 358 to 251, with 2.05 billion securities worth $1.79 billion traded.
PHOTO: BT FILE
Yong Jun Yuan
SINGAPORE - The Straits Times Index (STI) climbed 1 per cent or 32.47 points to close at 3,260.80 on Monday, while regional markets were mixed.
In the broader Singapore market, gainers beat losers 358 to 251, with 2.05 billion securities worth $1.79 billion traded.
Oanda senior market analyst Craig Erlam said markets saw a choppy start to the week, with investors focused on the relaxed Covid-19 measures in China, and state support for the Chinese property market.
“Unfortunately, both come at a time of record Covid-19 infections in major cities, including Beijing and Guangzhou,” he said.
“And the relaxation of measures that was announced is not ambitious enough to make any difference in those cities seeing rising cases, which means activity is going to weaken.”
Across the region, Japan’s Nikkei 225 shed 1.1 per cent, South Korea’s Kospi fell 0.3 per cent and Hong Kong’s Hang Seng Index rose 1.7 per cent. The Jakarta Composite Index fell 1 per cent and the Kuala Lumpur bourse dipped 0.3 per cent.
On the local bourse, the best performer on the STI was Mapletree Pan Asia Commercial Trust, which climbed 3.6 per cent or six cents to close at $1.71. Meanwhile, DFI Retail Group came in at the bottom of the table, falling 1.6 per cent or four US cents to US$2.45. THE BUSINESS TIMES
