Singapore stocks gain on central bank move; STI up 0.3%
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In the wider Singapore market, gainers have outnumbered losers 330 to 236, with 1.3 billion shares worth $839.8 million exchanging hands.
ST PHOTO: KUA CHEE SIONG
Jude Chan
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SINGAPORE – The Monetary Authority of Singapore’s (MAS) decision to leave its policy settings on the Singdollar unchanged
The upbeat mood left the Straits Times Index (STI) up 0.3 per cent, or 8.12 points, to 3,302.66, with gainers outstripping losers 330 to 236 on trade of 1.3 billion shares worth $839.85 million.
“Growth risks seemed to weigh more heavily for Singapore’s central bank, which was a surprise given China reopening tailwinds are now starting to magnify as well,” said Saxo market strategist Charu Chanana.
“Still, what is getting clear is that central banks are ready to pause... rather than facing risks of a recession.”
That was reflected on Wall Street overnight
Yangzijiang Shipbuilding was STI’s biggest winner, adding 1.7 per cent to $1.23.
Thai Beverage, DFI Retail Group and CapitaLand Investment were also noteworthy, closing between 1.1 per cent and 1.6 per cent higher.
ThaiBev was also STI’s most active stock, with 22.3 million shares done.
Wilmar International was at the bottom of the table, declining 0.7 per cent to $4.09.
The local lenders all rose. DBS Bank gained 0.2 per cent to $32.57, OCBC Bank advanced 0.3 per cent to $12.84 and UOB added 0.6 per cent to $30.13. THE BUSINESS TIMES
