STI breaks five-day losing streak to gain 0.4%

THE Straits Times Index (STI) broke a five-day losing streak to finish 13.97 points or 0.44 per cent higher at 3,187.9 on Tuesday.

Some 2.09 billion securities worth S$1.23 billion changed hands. Advancers outnumbered decliners 285 to 192.

The best index performer was Sembcorp Industries, which rebounded from its recent price slide, adding S$0.05 or 2.67 per cent to S$1.92, on a positive UOB Kay Hian report that was bullish on the prospects of its renewable-energy segment.

Genting Singapore performed the worst, losing S$0.015 or 1.62 per cent to S$0.91, on the back of Moody's report that the casino operator's earnings before interest, tax, depreciation and amortisation is likely to remain below 2019 levels this and the next, as the operating environment remains challenging and international travel restrictions continue to weigh on its recovery.

Gold miner Anchor Resources was the most active counter of the day, with some 300.7 million shares traded. Its share price fell S$0.003 or 9.38 per cent to S$0.029.

The region finished mixed, with Japan's Nikkei 225 up 0.72 per cent, Hong Kong's Hang Seng Index up 0.15 per cent, China's Shanghai Composite Index down 0.48 per cent and Malaysia's KLCI retreating 0.67 per cent.

Axi chief global markets strategist Stephen Innes said that mixed China trade data helped lift Asia off earlier lows. Elsewhere, the US dollar and Treasury yields rose slightly higher.

"Treasury auctions will be a huge market focus, with the US set to sell a record US$343 billion over the next three weeks," he said.

"Investors are looking ahead to starting the first-quarter US earnings season, with banks among the first reporters."

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