STI flattish with 0.1% rise on muted trading on Chinese New Year eve

STOCK markets in Asia mostly closed higher on half-day trading on Monday (Jan 31), shrugging off the possibility flagged by a US Federal Reserve official of sharper interest-rate increases.

The Straits Times Index (STI), Singapore's blue-chip gauge, inched up 0.1 per cent or 3.26 points to 3,249.59 points on the eve of Chinese New Year.

The number of gainers and decliners on the STI was almost equal: 13 to 12, with the remaining 5 closing flat.

O39 closed up 0.4 per cent to S$12.47, a day after the local bank said that it had arranged goodwill payouts to all customers who were scammed a total of S$13.7 million in the recent high-profile phishing incident.

N2IU has hit its 52-week low at S$1.80 in spite of posting a 5.6 per cent year-on-year rise in net property income to S$291.3 million for the 9 months to Dec 31, 2021. The downward trajectory came as its trust manager has proposed to merge it with fellow real estate investment trust (Reit) Mapletree North Asia Commercial Trust.

Gainers beat decliners 254 to 160 in the broader market, with 762.73 million securities worth S$1.03 billion transacted.

Japan's Nikkei 225 Index rose by 1.36 per cent to 27.081.34 points while Australia's S&P/ASX 200 slipped by 0.02 per cent to 6,986.70 points as at mid-day trading.

Hong Kong's Hang Seng Index closed 1.07 per cent up to 23,802.26 points; the FTSE Bursa Malaysia KLCI closed 0.51 per cent lower at 1,512.27 points.

Stock markets in mainland China, Taiwan and South Korea were closed because of the Chinese New Year holidays.