Singapore stocks rise on Tuesday amid mixed regional trading; STI up 0.1%

SINGAPORE stocks rebounded on Tuesday (Apr 19), following a 2-day losing streak, amid mixed performance in regional markets.

The benchmark Straits Times Index (STI) rose 0.1 per cent or 4.06 points to close at 3,307.13.

Shares of Sembcorp Industries led gains on the index, climbing 3.8 per cent to close at S$2.99. It extends the counter’s position as the top index gainer for the year to date, having risen 49.5 per cent since end-2021.

Meanwhile, Yangzijiang Shipbuilding finished at the bottom of the STI performance table on Tuesday, after falling 1.8 per cent to S$1.60. 

Across the broader market, losers outnumbered gainers 244 to 211 after 2 billion securities worth S$1.2 billion changed hands. 

OCBC shares were among the most actively traded by value, with the counter falling 0.5 per cent to S$11.90 after shares worth S$93.2 million were traded.

IG market strategist Yeap Jun Rong noted that the latest SGX fund flow data showed a third consecutive week of net outflows from institutional investors last week. 

The financial sector continued to see “huge outflows” – around S$210 million – with institutional investors paring down on exposure in the sector, he added. “This may present a headwind for any sustained upside in the STI, with the sector accounting for more than 40 per cent of overall weightage in the index”.

Elsewhere, key indices in Tokyo, Australia and South Korea ended higher on Tuesday, rising between 0.6 and 1 per cent. Meanwhile, the Shanghai Composite Index and Hang Seng Index closed lower, falling 0.05 per cent and 2.3 per cent respectively.