Singapore stocks rise in tandem with region and Wall Street; STI up 0.2%
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A rising tide lifted most Asian markets on Monday, including the STI which finished up 7.29 points.
ST PHOTO: KUA CHEE SIONG
Tay Peck Gek
SINGAPORE - Singapore stocks started the week slightly higher on Monday, in tandem with most key indexes in the region after Wall Street closed with gains last Friday.
An 11 basis-point drop in the United States’ 10-year Treasury yield to below 4 per cent gave Wall Street impetus to rally on Friday, and a rising tide lifted most Asian markets on Monday.
The Straits Times Index was up 0.2 per cent, or 7.29 points, to 3,239.31 points, with 13 counters down, 12 up and the rest flat. Across the broader market, gainers and decliners were almost evenly split 256 to 252, on a turnover of 2.1 billion shares worth $1 billion.
Local lender DBS bounced off its recent low of $33.50, clocking a gain of nearly 1 per cent, or 32 cents, to $33.82 on Monday.
The bank, together with UOB, OCBC Bank, Keppel Corporation and Venture Corporation, led net institutional outflows for the five sessions to last Friday.
UOB was 0.1 per cent lower at $29.50, while OCBC was unchanged at $12.50.
Keppel Corp was up 1.1 per cent to $5.52, and Venture rose 1.2 per cent to $17.09.
Sembcorp Marine was by far the most traded stock on the Singapore Exchange by volume, with over 790 million shares transacted, but closed unchanged at 11.1 cents.
It began trading at an enlarged total share capital last Wednesday, after roughly 36.8 billion Keppel Offshore & Marine (Keppel O&M) consideration shares were issued directly to Keppel Corp and its shareholders following Sembmarine’s combination with Keppel O&M. THE BUSINESS TIMES
