Singapore shares end higher, led by gains in local banks; STI up 0.6%
Venture Corporation leads gainers on the blue-chip index
[SINGAPORE] Singapore stocks ended higher on Wednesday (Oct 21). The benchmark Straits Times Index (STI) gained 0.6 per cent or 33.97 points to finish at 5,437.99.
Venture Corporation led the gainers on Singapore’s blue-chip index, rising 2.2 per cent or S$0.34 to S$15.75.
The worst performer among STI constituents was Thai Beverage , which fell 1.2 per cent or S$0.005 to S$0.42.
The three local banks ended higher. DBS gained 0.3 per cent or S$0.22 to S$74.65, OCBC rose 1.2 per cent or S$0.34 to S$29.14, and UOB was up 1.4 per cent or S$0.58 at S$42.
Within the iEdge Singapore Next 50 Index, Yangzijiang Financial was the top gainer, rising 4.2 per cent or S$0.008 to S$0.20. Meanwhile, StarHub was the biggest decliner, falling 0.9 per cent or S$0.01 to S$1.09.
Across the broader market, gainers beat losers 334 to 214, after 965.2 million securities worth S$1.8 billion changed hands.
CapitaLand Ascendas Real Estate Investment Trust was the most actively traded counter with 56.7 million units changing hands. DBS was the most actively traded stock in terms of value, with 4.3 million shares worth S$322.3 million.
Key regional indices were mixed. Hong Kong’s Hang Seng Index lost 0.9 per cent. Japan’s Nikkei 225 rose 0.9 per cent, South Korea’s Kospi was up 3.3 per cent and the FTSE Bursa Malaysia KLCI advanced 0.2 per cent.
DBS Group Research said that concerns over US economic growth could persist in the near term, as elevated borrowing costs weigh on interest-rate-sensitive sectors, such as housing.
Eugene Leow, senior rates strategist for DBS, said: “We think that growth concerns are likely to linger for the short term and could well cap longer-tenor yields, fiscal worries notwithstanding.”
This article was written with the assistance of AI and reviewed by a reporter
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