Singapore shares start the week higher; STI up 0.9%

THE Straits Times Index (STI) rose 0.9 per cent or 28.95 points to close at 3,305.67 points on Monday (Jan 9), as Asian markets tracked a surge on Wall Street.

Hong Kong’s Hang Seng index, South Korea’s Kospi, the Shanghai Composite Index and the FTSE Bursa Malaysia KLCI all climbed between 0.6 per cent and 2.6 per cent.

In the wider Singapore market, gainers outnumbered losers 341 to 241, with 1.1 billion shares worth S$1.3 billion changing hands.

According to IG market analyst Yeap Jun Rong, the reopening of China’s borders ahead of the Chinese New Year period was in focus across Asian markets.

“While that is a positive step towards a longer-term growth recovery, the near-term risk of virus waves are put into question, which could be a catalyst for jitters over the coming weeks,” he said.

The top performer on Singapore’s blue-chip index was Thai Beverage : Y92 0% (ThaiBev), which rose 2.9 per cent or S$0.02 to close at S$0.71.

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At the bottom of the table was Yangzijiang Shipbuilding : BS6 0% (YZJ), which continued its shaky start to the year. The counter fell 1.6 per cent or S$0.02 to S$1.21 on Monday, bringing it down a total of 11 per cent so far this year.

YZJ and ThaiBev were also the most heavily traded counters among the constituent stocks, with 68.2 million and 60.4 million shares traded respectively.

Performance of the trio of local lenders was mixed. DBS climbed 2.3 per cent or S$0.78 to close at S$35.25 and OCBC finished 1.6 per cent or S$0.20 higher at S$12.70, while UOB fell 0.6 per cent or S$0.17 to S$30.67.