Singapore stocks close slightly higher on Wednesday; STI up 0.1%

SINGAPORE shares ended marginally higher on Wednesday (Mar 20), despite an overnight rally on Wall Street that saw the S&P 500 hitting a record high.

The Straits Times Index (STI) was up 3.9 points or 0.1 per cent to 3,177.48. In the US, the Nasdaq Composite Index climbed 0.4 per cent, the S&P 500 rose 0.6 per cent, while the Dow advanced by 0.8 per cent.

Notably, the Singapore bourse recorded trading volume of about 2.1 billion securities worth S$876.5 million.

Seatrium continued to account for the lion’s share of total trading volume, with 1.2 billion shares of the offshore and marine counter transacted. Its shares were flat at S$0.079.

Glove maker Top Glove posted an 8.9 per cent or S$0.02 rise in its share price to S$0.245, after reporting a 68.9 per cent year-on-year lower loss of RM51.2 million (S$14.5 million) for the second quarter to February due to cost-cutting.

Wilmar International closed S$0.01 or 0.3 per cent lower at S$3.40, after the agribusiness announced that its wholly owned subsidiary, Wilmar Pakistan, intends to increase its stake in Pakistan-listed Unity Foods by acquiring up to 277.1 million shares through a public offer. Wilmar Pakistan has a total effective shareholding interest of 28.97 per cent in Unity Foods.

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UOB and DBS shed 0.3 per cent and 0.1 per cent, respectively, to S$28.91 and S$34.94, while OCBC closed 0.4 per cent higher at S$13.42.

Across the broader market, gainers beat losers with 265 counters up and 238 finishing lower.