Singapore stocks end higher amid mixed regional showing; STI up 1.5%

[SINGAPORE] Singapore stocks ended higher on Tuesday (May 19).

The benchmark Straits Times Index (STI) gained 1.5 per cent or 75.59 points to finish at 5,072.34.

City Developments Ltd (CDL) led the gainers on Singapore’s blue-chip index, rising 4.8 per cent or S$0.38 to end at S$8.22.

This came after former director Kwek Leng Peck rejoined the board, six years after resigning over disagreements.

The worst performer among STI constituents was Wilmar International , which fell 1.6 per cent or S$0.06 to close at S$3.65.

The three local banks ended higher.

DBS gained 2 per cent or S$1.24 to S$62; OCBC rose 1.7 per cent or S$0.39 to S$23.43, and UOB was up 1.2 per cent or S$0.46 at S$37.75.

Within the iEdge Singapore Next 50 Index, StarHub was the top gainer, rising 3 per cent or S$0.03 to finish at S$1.03, while First Resources was the top loser, falling 12.7 per cent or S$0.47 to end the session at S$3.22.

Across the broader market, gainers edged out losers 325 to 302, after 1.9 billion securities worth S$2.4 billion changed hands.

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Key regional indices were mixed.

Hong Kong’s Hang Seng Index gained 0.5 per cent, Japan’s Nikkei 225 index fell 0.4 per cent, South Korea’s Kospi was down 3.3 per cent and the FTSE Bursa Malaysia KLCI declined 0.03 per cent.