Local stocks kick off week in the black, STI advances 1%

SINGAPORE shares ended the first trading day of the week on a more upbeat note, as local investor sentiment took a cue from Friday gains on Wall Street, which came on the back of positive jobs data figures for January.

The benchmark Straits Times Index finished Monday's (Feb 7) session at 3,366.48, up 1 per cent or 35.07 points. Daily turnover across the broader market came in at some 1.8 billion securities worth a collective S$1.5 billion, after advancers outpaced decliners 322 to 206.

The US Federal Reserve's decisions are still being closely watched by markets. IG market strategist Yeap Jun Rong said in a note that markets are now pricing a 40 per cent chance of a 50 basis-point hike, compared with just 16 per cent at the start of the month.

Across the region, markets were a mixed bag of results on Monday. The Hang Seng Index inched up 0.03 per cent; the KLCI rose 0.5 per cent, while China's SSE Composite Index was up 2 per cent. The Nikkei 225 was down 0.7 per cent, and the Kospi closed 0.2 per cent lower.

"Rising bond yields will remain a key theme into the trading session, and one may watch if the rate-sensitive tech sector can continue to remain resilient," said Yeap.

On the local bourse, Jardine Matheson Holdings J36 was the top gainer, adding 1.4 per cent or US$0.81 to US$60.96.

The trio of local lenders were among the best performers for the day. UOB U11 added 2 per cent or S$0.62 to S$31.92; DBS D05 was up 1.5 per cent or S$0.53 to S$36.48, while OCBC O39 rose 1.3 per cent or S$0.16 to S$12.96.

iFast Corporation AIY - which is set to announce its FY2021 earnings next Tuesday - was another big advancer, gaining 4.7 per cent or S$0.29 to S$6.52.

On the other end of the spectrum, AEM Holdings AWX was the biggest loser, falling 1.3 per cent or S$0.06 to S$4.55. Nanofilm Technologies MZH was another big decliner, shedding 1.7 per cent or S$0.05 to S$2.95.

Disa Limited 532 was the most actively traded stock by volume, with some 204.7 million shares changing hands over the course of the day. The counter ended unchanged at S$0.006.

Other actively traded stocks were Sembcorp Marine S51 , Jiutian Chemical C8R and Hatten Land PH0 .