Singapore stocks edge up in line with regional rise; STI gains 0.1%

[SINGAPORE] Singapore shares ended higher on Wednesday (Jan 14) as stock market sentiment remained upbeat across Asia.

The Straits Times Index (STI) edged up 0.1 per cent or 5.38 points to 4,812.51.

Across the wider Singapore market, advancers outnumbered decliners 338 to 214, with 1.7 billion shares worth S$1.6 billion changing hands.

“New and ongoing geopolitical tensions will almost certainly inject volatility into markets,” said Saira Malik, chief investment officer of global asset manager Nuveen.

“And the threat of another potential US government shutdown at the end of January, while not a base-case scenario, adds a familiar layer of political uncertainty that markets have learned to discount but not fully dismiss.”

The top performer on Singapore’s blue-chip index was Hongkong Land , which jumped 3.3 per cent or US$0.26 to close at US$8.18.

Yangzijiang Shipbuilding was the biggest loser on the STI, falling 1.9 per cent or S$0.07 to S$3.67.

Genting Singapore was the most heavily traded blue-chip counter, climbing 0.7 per cent or S$0.005 to close at S$0.735 after 42.3 million shares changed hands.

The trio of local banks ended Wednesday mixed. DBS shed 0.3 per cent or S$0.15 to S$58.32, while UOB gained 0.9 per cent or S$0.32 to finish at S$36.51 and OCBC rose 0.1 per cent or S$0.01 to S$20.13.

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The iEdge Singapore Next 50 Index rose 0.7 per cent or 10.91 points to 1,489.74.

Key Asian markets all closed higher. Japan’s Nikkei 225 surged 1.5 per cent, South Korea’s Kospi gained 0.7 per cent, Hong Kong’s Hang Seng Index climbed 0.6 per cent, and the FTSE Bursa Malaysia KLCI Index rose 0.2 per cent.