Singapore shares rise ahead of US employment data; STI up 0.8%
Across the broader marker, gainers beat decliners 325 to 202, as 1.3 billion securities worth about S$1.3 billion change hands
SINGAPORE shares rose on Friday (Feb 7), ahead of closely-watched United States employment data that would provide investors a gauge of the US Federal Reserve’s interest rate outlook.
The Straits Times Index, Singapore’s blue-chip barometer, rose 31 points or 0.8 per cent to 3,861.42. However, compared to last Friday’s close, the index’s performance was relatively flat, up only 0.1 per cent over the week.
Amid lingering inflationary concerns under US President Donald Trump’s administration, the non-farm payroll report that will be released on Friday will be the focus of the market, with the data signalling the possible direction of the US interest rate and the US dollar.
Across the broader marker, gainers beat decliners 325 to 202, as 1.3 billion securities worth about S$1.3 billion were transacted.
F&N closed S$0.02 or 1.6 per cent higher at S$1.29, after the food-and-beverage maker reported in an update on Friday a net profit of S$52 million for the first quarter ended Dec 31.
This marked an 18.8 per cent increase from S$43.8 million in the same period in the prior year. Revenue climbed 16.3 per cent to S$618 million, from S$531.6 million in the year-ago period.
Fu Yu Corporation closed down 1.6 per cent or S$0.002 at S$0.121. This was after the components manufacturer said on Thursday that it received a second letter from Victor Lim – its largest shareholder – seeking to call for an extraordinary general meeting to vote on the removal and appointment of directors.
It earlier declined Lim’s request because its lawyers had advised that the requisition fell short of legal requirements, amid the boardroom tussle.
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