STI inches up 0.1% even as Iran conflict keeps investors on edge

[SINGAPORE] Singapore stocks ended higher on Monday (Apr 20), even as investors weighed rising tensions between the US and Iran.

The benchmark Straits Times Index (STI) gained 0.1 per cent or 6.14 points to finish at 5,004.07.

UOL led the gainers on Singapore's blue-chip index, rising 5.1 per cent or S$0.52 to S$10.68.

The worst performer among STI constituents was Seatrium , which fell 2.9 per cent or S$0.07 to S$2.35. The three local banks ended mixed on Monday. UOB was flat at S$37.40; DBS was little changed, finishing 0.02 per cent or S$0.01 lower at S$57.24, and OCBC lost 0.2 per cent or S$0.05 to S$22.67.

Over on the iEdge Singapore Next 50 Index, Singapore Post was the top gainer, rising 7.2 per cent or S$0.025 to S$0.37.

CSE Global was the index’s biggest decliner, falling 4.3 per cent or S$0.06 to S$1.33.

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Across the broader market, losers edged out gainers 300 to 297, after 1.8 billion securities worth S$1.8 billion changed hands.

Key regional indices were positive. Hong Kong’s Hang Seng Index gained 0.8 per cent, Japan’s Nikkei 225 rose 0.6 per cent and South Korea’s Kospi was up 0.4 per cent.

Private banking and asset management group LGT noted that fears of an escalation in the US-Iran conflict kept investors on edge at the start of the week. Oil prices jumped on concerns that the fragile ceasefire and peace efforts could unravel.