Singapore shares end Monday marginally higher; STI up 0.2%

SINGAPORE shares ended Monday (Sep 4) higher, as markets anticipated more data from China to come later this week.

The benchmark Straits Times Index rose 0.2 per cent or 5.67 points to close at 3,238.97.

Across the broader market, gainers outnumbered losers 300 to 267 after 1.6 billion securities worth S$1.2 billion changed hands.

This comes after a US payrolls report released on Friday hardened expectations for an end to rate hikes. Meanwhile, markets are expectant of more trade and inflation data from China, to come further this week.

“China stimulus measures have ramped up, and it remains to be seen if data disappoints and offsets the small uptick in sentiment coming through,” said Saxo market strategist Charu Chanana.

Major markets in the region ended mostly positive on Monday, except Malaysia. Hong Kong’s Hang Seng Index led regional gains, rising 2.5 per cent to reach 18,844.16. Other key indices in Japan, South Korea and Australia ended the day between 0.6 per cent and 0.8 per cent higher.

On the Singapore bourse, Seatrium was the most heavily traded counter by volume. It closed up 0.7 per cent or S$0.001 to S$0.146, with 459.4 million shares worth S$66.8 million transacted.

EV maker Nio was also among the biggest gainers on Monday; its shares rose 4.2 per cent or US$0.44 to US$10.96.

Meanwhile, Sembcorp Industries was the top-traded counter by value on Monday. Its shares fell 3.4 per cent or S$0.18 to S$5.17.

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Singapore stocks open higher on Monday; STI up 0.2%

The trio of local banks closed Monday in positive territory, led by OCBC , which gained 1 per cent to S$12.67. UOB rose 0.6 per cent to S$28.60, and DBS closed up 0.4 per cent at S$33.42.

Key data to watch out for this week include the Reserve Bank of Australia’s rate decision on Tuesday; China is also expected to release its trade balance for August on Thursday and its inflation rate next weekend.