Singapore shares close higher - STI bounces back to pre-Brexit close
BREXIT? What Brexit? Financial markets appear to have regained all their composure after only two days of selling in the aftermath of the UK's vote to leave the European Union - the Straits Times Index on Wednesday rose 36.2 points to 2,792.73, bringing it back to almost exactly the same level it was on the eve of the UK's referendum.
Of course, short-covering and hefty doses of window-dressing probably also played a part since Wednesday marks the end of the first half and second quarter of 2016. This could explain the fact that despite the index's strength, the broad market could muster only 262 rises versus 135 falls, so gains were not widespread.
Whatever the case, rises in the three banks contributed a total of 14 points towards the index's rise, while there were also notable contributions for Jardine Cycle & Carriage, Thai Beverage and Singtel.
However, there is always the possibility that the market could have "bought in anticipation" on Wednesday, the eve of June 30, only to "sell on the day".
Noble Group has rarely strayed far from the top echelons of the actives list as so it was again the case on Wednesday when the counter slipped S$0.004 to S$0.176 on volume of 94.6 million, making it the day's most liquid stock. It was the second day of ex-rights trading, its theoretical ex-rights price being S$0.1625.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Stocks to watch: Wilmar, MLT, FEHT, CDLHT, Starhill Global Reit, IReit Global
Europe: Stocks eke out gains after German inflation data; Deutsche Bank drops
US: Stocks end higher, extending rally
Yen surges against US dollar on suspected intervention
Singapore stocks start week in the black ahead of Fed meeting; STI up 0.1%
Sembcorp announces long-term power purchase agreements with Equinix