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Singapore stocks gain, STI adds 0.8% to close at 2,892.52

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SINGAPORE stocks rose on Monday amid lowered expectations of US interest rate hikes, with the Straits Times Index (STI) adding 0.8 per cent or 23.83 points to close at 2,892.52.

Despite the market benchmark's advance, losers outnumbered gainers 228 to 190, or about six down for every five up. A total of 1.2 billion shares worth S$1.33 billion changed hands.

Vallianz Holdings led the actives, with 124.3 million shares traded. The stock gained 9.1 per cent, or 0.2 Singapore cent, to close at 2.4 Singapore cents after the oil and gas contractor said that the bulk of its order book was from third parties that are unrelated to Swiber Holdings, which has sought to be wound up and liquidated.

Industry peer Ezra Holdings lost 6 per cent, or 0.3 Singapore cent, to head out at 4.7 Singapore cents on the back of 103.1 million shares traded.

Among the blue chips, Jardine Cycle & Carriage climbed 6.2 per cent, or S$2.42, to close at S$41.65.