Singapore shares move in tandem with Wall Street rally
The blue chip gauge STI is up 25.47 points or 0.6% to 3,989.76 points
[SINGAPORE] Buoyed by the overnight Wall Street rally, Singapore shares rose on Tuesday (Jul 1), with about the top one-third counters by weighting on the blue-chip-gauge Straits Times Index (STI) all closing higher.
The STI was up 25.47 points or 0.6 per cent at 3,989.76, after the US indices S&P 500 and Nasdaq ended at record highs on Monday.
Elsewhere in Asia, some indices edged higher after their respective countries reported improvements in their latest purchasing managers’ index prints, noted private banking and asset management group LGT.
Over in Singapore, gainers led decliners 247 to 148 across the broader market. Transactions came in at 1.3 billion securities worth a total of S$1.2 billion.
The top gainer on the STI tally was Hongkong Land , the shares of which spiked US$0.35 or 6.1 per cent to US$6.12, a day after it announced that it had repurchased 664,000 shares – to be scrapped – over two recent trading sessions at a weighted average price of about US$5.80 apiece.
QAF reached a 52-week high at S$0.91, up 1.1 per cent or S$0.01, a day after the food company, which is also in the distribution and warehousing business, reported an increase in the interest of joint group managing director Lin Kejian.
Lin acquired 115,500 shares for nearly S$1 million, which raised his direct interest by 0.02 per cent to 0.968 per cent, and his deemed interest to 39.171 per cent.
Meanwhile, CapAllianz was the most active counter with 433.1 million shares transacted, but closed unchanged at S$0.003. The Catalist-listed investment holding firm owns a subsidiary engaging in software development and IT consulting, and holds a 20 per cent stake in oil concessions.
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