Singapore shares end higher; STI up 0.7%
Sats leads the gainers on the benchmark index, while DFI Retail Group is its biggest decliner
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[SINGAPORE] Singapore stocks ended higher on Thursday (Jun 18), as the benchmark Straits Times Index (STI) gained 0.7 per cent or 36.38 points to finish at 5,212.84.
Sats led the gainers on Singapore’s blue-chip index, rising 4.1 per cent or S$0.17 to S$4.35.
The worst performer among STI constituents was DFI Retail Group , which fell 5.9 per cent or US$0.22 to US$3.53.
The three local banks ended higher.
DBS gained 1.5 per cent or S$0.99 to S$66.00, OCBC rose 1.9 per cent or S$0.46 to S$25.08, and UOB was up 0.9 per cent or S$0.35 at S$39.70.
Within the iEdge Singapore Next 50 Index, First Resources was the top gainer, rising 5.6 per cent or S$0.17 to S$3.23.
CapitaLand China Trust was the index’s biggest decliner, falling 3.8 per cent or S$0.025 to S$0.635.
Across the broader market, gainers outnumbered losers 372 to 242, after 1.3 billion securities worth S$2.2 billion changed hands.
Key regional indices were mixed on Thursday.
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Hong Kong’s Hang Seng Index lost 1.6 per cent, while Japan’s Nikkei 225 rose 1.6 per cent, South Korea’s Kospi was up 2.3 per cent and the FTSE Bursa Malaysia KLCI inched up 0.1 per cent.
Manulife Wealth & Asset Management said that the Strait of Hormuz’s reopening “could translate into a moderate risk-on backdrop”.
Falling oil prices amid an easing supply risk “may help reduce inflation expectations and could ease some pressure on central banks”, it added.
“In theory, this should support bonds through lower yields, as well as global equities, particularly for countries and sectors that benefit from lower energy costs. It may also support some emerging market assets, while creating a less favourable backdrop for the energy sector.”
This article has been written with the assistance of AI and reviewed by a reporter
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