Singapore shares buck regional trend; STI up 0.2%
Across the broader market, decliners outnumber advancers 318 to 233, after 1.3 billion securities worth S$2.2 billion change hands
[SINGAPORE] Local shares bucked the regional trend to end higher on Friday (Nov 7), on the back of gains by OCBC and Singtel .
The benchmark Straits Times Index (STI) rose 0.2 per cent or 7.25 points to close at 4,492.24. Meanwhile, the iEdge Singapore Next 50 Index gained 0.6 per cent or 9.36 points to 1,453.24.
OCBC was the top blue-chip gainer on Friday, rising 3.4 per cent or S$0.59 to close at S$17.78. The bank briefly hit a record high of S$17.94 in early trade after its third-quarter net profit beat analyst expectations, staying flat at S$1.98 billion.
Singtel also notched strong gains, rising 2.9 per cent or S$0.13 to S$4.63. The counter rose following news that it had sold 0.8 per cent of its stake in Indian telecommunications company Bharti Airtel for about S$1.5 billion. Singtel also confirmed that it is in talks with global investment firm KKR & Co to fully own ST Telemedia Global Data Centres.
DFI Retail Group was the STI’s largest decliner, falling 3.2 per cent or US$0.11 to US$3.34.
The other two local banks ended Friday lower. DBS fell 1 per cent or S$0.56 to S$54.98. UOB slipped 0.1 per cent or S$0.04 to S$33.86.
Genting Singapore remained the most actively traded counter on the STI by volume, with 63.2 million shares worth S$46.8 million traded. The counter closed 2 per cent or S$0.015 higher at S$0.745.
Across the broader market, decliners outnumbered advancers 318 to 233 after 1.3 billion securities worth S$2.2 billion changed hands.
Key regional indices mostly ended in negative territory. South Korea’s Kospi fell 1.8 per cent, and Japan’s Nikkei 225 dropped 1.2 per cent. Australia’s ASX 200 shed 0.7 per cent, and Hong Kong’s Hang Seng Index was down 0.9 per cent.
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