Singapore stocks end higher on Monday amid mixed regional showing; STI up 0.5%

SINGAPORE shares closed higher on Monday (Mar 28) amid a mixed showing in the region, with the Straits Times Index (STI) climbing 0.5 per cent or 18.3 points to end at 3,431.99.

Gainers beat losers 271 to 176, with 1.83 billion shares worth S$1.42 billion changing hands.

But a worsening Covid-19 situation in China and wider restrictions there could bring "serious headwinds" for Asian equities as a whole, cautioned Oanda senior analyst Jeffrey Halley. Chinese authorities announced over the weekend that Shanghai would enter a phased lockdown as asymptomatic cases surge.

On Monday, Japan's Nikkei 225 lost 0.7 per cent, South Korea's Kospi dipped 0.02 per cent, while Hong Kong's Hang Seng Index rose 1.3 per cent. The Kuala Lumpur Composite Index was down 0.3 per cent, while the Jakarta Composite Index rose 0.7 per cent.

Inflight caterer and ground handler SATS SATS was the best constituent performer on the STI, gaining 3.3 per cent or S$0.14 to end at S$4.38. Yangzijiang Shipbuilding YZJ was the most actively traded counter on the index, with 55.8 million shares worth S$83.6 million changing hands. It was also the second-biggest gainer, closing 2.1 per cent or S$0.03 higher at S$1.49.

Jardine Matheson JMH was the biggest loser, shedding 2.5 per cent or US$1.46 to close at US$57.46.

Meanwhile, the trio of local banks ended higher. DBS DBS gained 1.6 per cent or S$0.56 to end at S$36.16, UOB UOB was up 0.7 per cent or S$0.23 at S$32.38, while OCBC OCBC closed 0.5 per cent or S$0.06 higher at S$12.41.