Jardine and bank stocks push STI up
Noble Group also lends support, with its 7% rebound to S$1.01 contributing about 3.4 points to the index
THE Straits Times Index (STI) rose 18.22 points or 0.54 per cent to 3,422.11 on Tuesday to go with Monday's 1.03-point rise, bringing its two-day gain to 19 points after falling 38 points on Thursday and Friday last week.
However, despite the index's gain, the broad market was weak for most of the day, with falls outnumbering rises. At 5pm, the advance-decline ratio was 195-238, and turnover at 1.3 billion units worth S$1.17 billion was in line with recent averages.
Jardine and bank stocks were the primary index drivers, although Noble Group's S$0.065 or 7 per cent rebound to S$1.01 contributed about 3.4 points. The stock had been under intense pressure over the past fortnight following a short-selling attack by a firm known only as Iceberg Research.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027