Seatrium surge leads Singapore stocks slightly higher on Tuesday; STI up 0.1%

[SINGAPORE] Singapore stocks ended higher on Tuesday (May 12).

The benchmark Straits Times Index (STI) gained 0.1 per cent or 3.23 points to finish at 4,946.

Seatrium led the gainers on Singapore’s blue-chip index, rising 5.4 per cent or S$0.12 to S$2.35.

The worst performer among STI constituents was Frasers Logistics & Commercial Trust , which fell 1.5 per cent or S$0.015 to S$0.97.

The three local banks ended the day mixed. DBS rose 0.6 per cent or S$0.33 to S$59.10, and UOB was up 0.3 per cent or S$0.12 at S$37.11. OCBC , meanwhile, finished 0.8 per cent or S$0.17 lower at S$22.33.

Within the iEdge Singapore Next 50 Index, Riverstone was the top gainer, rising 12.8 per cent or S$0.105 to S$0.925.

UOB Kay Hian was the index’s biggest decliner, falling 2.6 per cent or S$0.11 to end the session at S$4.19.

Across the broader market, gainers beat losers 316 to 267, after 2.3 billion securities worth S$2.2 billion changed hands.

Key regional indices were mixed on Tuesday.

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Japan’s Nikkei 225 rose 0.5 per cent, and the FTSE Bursa Malaysia KLCI advanced 0.3 per cent. Meanwhile, South Korea’s Kospi was down 2.3 per cent, and Hong Kong’s Hang Seng Index lost 0.2 per cent.

“We see no disconnect between record US equities prices and elevated oil, commodities and yields,” said BlackRock Investment Institute, adding that markets were pricing in artificial intelligence-driven growth and the impact of the supply shock in the Middle East.

“US inflation data this week will test still-firm price pressures, with implications for yields as markets assess the risk of further rate increases,” it added.