Singapore counters close higher; STI rises 0.3%
Across the broader market, advancers beat decliners 311 to 262 after 1.4 billion securities worth S$1.6 billion change hands
[SINGAPORE] Counters on the Singapore stock exchange broadly closed higher on Wednesday (Oct 22), as investors shrugged off a mixed showing on Wall Street overnight and lingering ambiguity over a meeting between US President Donald Trump and Chinese President Xi Jinping.
The Straits Times Index (STI) closed 12.87 points or 0.3 per cent up at 4,393.92.
STI constituent Jardine Matheson was the worst performer on the blue-chip barometer, with a 4.7 per cent or US$3.12 decline to US$62.78.
Two of its units followed closely behind. DFI Retail Group dipped 1.2 per cent or US$0.04 to US$3.41, and Hongkong Land slid 1.3 per cent or US$0.08 to US$6.15.
Stephen Innes, managing partner of SPI Asset Management, said traders have seen the Trump-Xi “maybe, maybe not” summit theatrics before, describing this as “brinkmanship dressed as diplomacy, uncertainty masquerading as intent”.
“The market doesn’t tank on that – it just hesitates, trying to read the bluff,” he added.
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The Dow Jones Industrial Average rose 0.5 per cent overnight; the S&P 500 was flattish, and the Nasdaq Composite was down 0.2 per cent.
Back in Singapore, there were 311 gainers and 262 decliners across the broader market on Wednesday, with 1.4 billion securities totalling S$1.6 billion in value changing hands.
Addvalue Technologies was the most actively traded counter by volume, with 53.2 million shares transacted by the time it closed 4.8 per cent or S$0.002 lower at S$0.04.
The banking counters had a mixed showing: OCBC slipped 0.1 per cent or S$0.01 to S$16.82; UOB was flattish at S$34.55; and DBS rose 0.9 per cent or S$0.45 to S$52.78.
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