Singapore shares end higher on Tuesday; STI up 1%

[SINGAPORE] Singapore stocks ended higher on Tuesday (Aug 11) amid a mixed performance from wider Asia markets.

The benchmark Straits Times Index (STI) gained 1 per cent or 55.74 points to finish at 5,754.17.

Yangzijiang Shipbuilding led the gainers on Singapore’s blue-chip index, rising 11 per cent or S$0.46 to S$4.66.

This is an extension of its earnings rally on Aug 7, when it gained 6.6 per cent after the shipbuilder posted a 28.4 per cent rise in net profit to 5.4 billion yuan (US$800 million) for its first half.

The worst performer among STI constituents was Singapore Airlines, which fell 5.9 per cent or S$0.45 to S$7.15.

The three local banks ended mixed. DBS rose 0.9 per cent or S$0.66 to S$76.99 and OCBC was up 3.5 per cent or S$1.06 at S$31.36, while UOB finished 2.6 per cent or S$1.14 lower at S$42.16.

Across the broader market, gainers outnumbered losers 327 to 281, after 1.6 billion securities worth nearly S$3.6 billion changed hands.

Within the iEdge Singapore Next 50 Index, Yangzijiang Financial was the top gainer, rising 9.5 per cent or S$0.02 to S$0.23, while Lendlease Global Commercial Real Estate Investment Trust was the biggest loser, falling 3.4 per cent or S$0.02 to S$0.565.

Key regional indices were mixed. Hong Kong’s Hang Seng Index lost 1.1 per cent and the FTSE Bursa Malaysia KLCI was down 0.2 per cent, while South Korea’s Kospi rose 0.7 per cent.

SEE ALSO

Yangzijiang Shipbuilding continues earnings rally; shares gain 11%

Analysts from Julius Baer continue to favour semiconductors and large software companies embedded in corporate information technology ecosystems at this juncture, where demand remains robust. 

“Though concerns about artificial intelligence disrupting software providers are growing, we believe infrastructure must first reach critical scale, giving incumbents time to adapt,” they said.

This article has been written with the assistance of AI and reviewed by a reporter