Singapore stocks close higher after rebound of global chipmakers; STI up 1.2%

[SINGAPORE] Singapore stocks ended higher on Tuesday (Jun 9) on a rebound by global tech counters, in the wake of a steep sell-off earlier last week.

The benchmark Straits Times Index (STI) gained 1.2 per cent or 59.58 points to finish at 5,023.25.

Across the broader market, gainers outnumbered losers 344 to 231, after 1.4 billion securities worth S$2.1 billion changed hands.

Thai Beverage led the gainers on Singapore’s blue-chip index, ending 3.5 per cent or S$0.015 up at S$0.44.

As for the worst performer among STI constituents, Yangzijiang Shipbuilding declined 0.9 per cent or S$0.03 to finish at S$3.41.

Stocks of the three local banks ended higher. DBS gained 1.6 per cent or S$1.00 to close the day at S$63.76, and OCBC rose 1.7 per cent or S$0.40 to S$23.80. UOB was up 1.6 per cent or S$0.59 at S$38.38.

Within the iEdge Singapore Next 50 Index, Singapore Post was the top gainer, rising 4.8 per cent or S$0.015 to finish at S$0.325.

Yangzijiang Financial was the top loser, falling 2.2 per cent or S$0.005 to end the session at S$0.225.

Key regional indices were mixed.

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Hong Kong’s Hang Seng Index lost 0.4 per cent, and Japan’s Nikkei 225 index rose 2.2 per cent.

South Korea’s Kospi was up 8.2 per cent, and the FTSE Bursa Malaysia KLCI declined 0.2 per cent.

Enrico Chinello, next generation research analyst at Julius Baer, said: “We remain constructive on the cloud computing and artificial intelligence theme, with data-centre investments as the key enabler and growth driver.”

This article has been written with the assistance of AI and reviewed by a reporter