Local stocks end final trading session of the year largely flattish
Uma Devi
AFTER a tumultuous year, Singapore stocks finished the last trading day of 2022 largely unchanged, as traders chose to tread with caution.
The Straits Times Index inched up just about 0.1 per cent or 2.08 points to cap Friday (Dec 30) at 3,251.32. Liquidity was also thin on the local bourse. Daily turnover came in at about 711 million securities worth a total of just S$536.7 million, with advancers outnumbering decliners 281 to 206.
Elsewhere in Asia, the Hang Seng Index rose 0.2 per cent, while the ASX 200 and the KLCI each gained 0.3 per cent. The Nikkei 225 closed largely unchanged.
Vishnu Varathan, Mizuho Bank’s head of economics and strategy for Asia, warned in a note against “premature and excessive optimism”. He cautioned that looming threats to capital markets still remain – particularly the Federal Reserve’s rate hike spree and mounting recessionary threats.
“All said, a recession may just be the price of taming the inflation spectre,” said Varathan, adding that other complications include the ongoing Russia-Ukraine war and mounting US-China tensions.
Jardine Matheson Holdings was the top gainer by value, adding 0.8 per cent or US$0.42 to US$50.90.
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Property players like Bukit Sembawang , City Developments , Ho Bee Land and Hotel Properties were also among the biggest gainers of the day.
On the other hand, Japfa was the biggest loser on the bourse after the company spun off its dairy business in a listing on the Hong Kong Exchange. The counter crashed 35.5 per cent or S$0.19 to S$0.345.
Nio was another one of the biggest losers, shedding 1.3 per cent or US$0.13 to US$10.11.
Sembcorp Marine was the most heavily traded counter for the day, with some 66.7 million shares changing hands. The stock lost 0.7 per cent or S$0.001 to close at S$0.138.
Other heavily traded counters were The Place Holdings , Yangzijiang Shipbuilding and Oceanus .
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