Singapore shares gain amid mixed regional showing; STI inches up 0.5%
MPACT takes top spot on index while DFI Retail Group is biggest decliner
SINGAPORE shares closed up on Thursday (Sep 5), even as regional bourses ended the day mixed.
The benchmark Straits Times Index (STI) rose 0.5 per cent or 17.28 points to 3,458.66.
Across the broader market, gainers outnumbered losers 314 to 220, as 1.3 billion shares worth S$1.2 billion were traded across the day.
The biggest gainer on the STI was Mapletree Pan Asia Commercial Trust, which climbed 3 per cent or S$0.04 to close at S$1.38.
The biggest decliner on the index was DFI Retail Group . The counter slid 1.1 per cent or US$0.02 to US$1.85.
CapitaLand Integrated Commercial Trust remained the most actively traded counter by volume for the second day running, with 74.5 million units worth S$154.2 million traded. The counter rose 1.5 per cent or S$0.03 to S$2.09.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Meanwhile, markets across the region closed mixed on Thursday.
Australia’s ASX 200 climbed 0.4 per cent as did the Shanghai Composite Index, which rose 0.1 per cent.
Japan’s Nikkei 225, on the other hand, slipped by 1.1 per cent while South Korea’s Kospi dropped 0.2 per cent.
Referring to the global sell-off the day before, Stephen Innes, managing partner of SPI Asset Management, said that there is a lingering worry that the sharp pullback might signal a deeper problem with the US economy.
Latest official data shows that job openings in the United States are at their lowest since January 2021, indicating a cooling labour market.
“While that’s a positive in terms of easing wage pressures and keeping inflation in check, it also raises questions about the economy’s underlying strength,” added Innes.
Copyright SPH Media. All rights reserved.
