Local shares end trading week higher, STI up 0.2%
Uma Devi
SINGAPORE stocks ended the shorter trading week higher, as investors seized opportunities in the local market following the US House vote to raise the debt ceiling.
The benchmark Straits Times Index rose 0.2 per cent or 7.5 points on Thursday (Jun 1) to close at 3,166.30. Advancers narrowly inched past decliners 270 to 269, after 1.4 billion securities worth S$1.3 billion changed hands.
SPI Asset Management’s managing partner Stephen Innes said: “Asian markets have been dominated by the great unwind of China recovery trades in the past month, as data has disappointed. With China cast down as a driver for regional performance, it could leave local sentiment flapping in the wind.”
Jardine Matheson Holdings was the top advancer by value on Thursday, rising 0.9 per cent or US$0.43 to US$48.44.
DBS was another top gainer, adding 1 per cent or S$0.30 to S$30.60. The other two local lenders, however, ended the day in the red. UOB fell 0.4 per cent or S$0.11 to S$27.84, while OCBC shed 0.3 per cent or S$0.04 to S$12.23.
Venture Corporation was among the top decliners for the day, falling 1.3 per cent or S$0.20 to S$14.97.
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iFast Corporatio n was another notable decliner, losing 2.2 per cent or S$0.10 to close at S$4.37.
Seatrium was the most heavily traded counter on Thursday, with about 458.2 million shares changing hands. The Corrupt Practices Investigation Bureau on Wednesday announced that it was investigating Seatrium, as well as individuals from the company, for alleged corruption offences. The stock lost 1.6 per cent or S$0.002 on Thursday to close at S$0.121.
Other heavily traded stocks for the day included Genting Singapore , Sats and Singtel .
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