STI up 0.3%; regional indices mixed

THE Straits Times Index (STI) inched up on Friday (Jul 15) after losing ground for the better part of the week, closing 0.3 per cent or 8.52 points higher at 3,099.15.

There were 234 gainers and losers each in the broader market, with 1.1 billion securities worth S$909.9 million changing hands in the session.

Regional indices were mixed as recession fears grew.

Japan’s Nikkei 225 added 0.5 per cent, while South Korea’s Kospi index went up 0.4 per cent. Hong Kong’s Hang Seng Index dropped 2.2 per cent, the Jakarta Composite Index shed 0.6 per cent, while the Kuala Lumpur Composite Index fell 0.1 per cent.

Chinese indices also fell as the world’s second-largest economy reported a sharp economic contraction in the second quarter. The Shanghai Composite index slid 1.6 per cent while the Shenzhen Component index fell 1.5 per cent.

On the STI, Genting Singapore extended gains from the previous day, ending 7.3 per cent or S$0.055 higher at S$0.805 before trading was halted during the midday break. 

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It was also the most actively traded counter by volume among index components, with 112.8 million securities changing hands. Bloomberg reported that investors are eyeing the casino operator as tourists return.

At the bottom of the table was Keppel, which fell 0.8 per cent or S$0.05 to S$6.39.

The trio of local banks remained in the red, with DBS down 0.4 per cent or S$0.13 to S$29.67, OCBC down 0.3 per cent or S$0.03 to S$11.22, and UOB down 0.04 per cent or S$0.01 to S$26.04.