Singapore stocks end last trading day of 2023 in the black; STI up 0.8%
Uma Devi
LOCAL shares ended the final trading session of the year on a high, as traders looked to capitalise on opportunities available in the capital markets.
The Straits Times Index (STI) capped Friday (Dec 29) with a gain of 0.8 per cent or 25.87 points to close at 3,240.27. Across the broader market, gainers outpaced losers 370 to 202, after 1.4 billion securities worth a collective S$1.2 billion changed hands.
It was a mixed bag of results for the rest of the stock markets around the region. The Hang Seng Index inched up 0.02 per cent, while the Bursa and Nikkei 225 each shed 0.2 per cent, and the ASX 200 fell 0.3 per cent.
“In summary, 2023 presented a tumultuous journey marked by economic and financial upheavals. However, robust growth in real spending played a crucial role in maintaining relatively tight labour market conditions, defying earlier predictions,” said SPI Asset Management’s managing partner Stephen Innes in a note on Friday.
Innes added that recent economic developments – relating to monetary policy and labour markets – mean that investors would do well to “approach recession predictions for 2024 with caution”.
Jardine Cycle and Carriage was the top gainer on the local bourse, adding 2.2 per cent or S$0.65 to close at S$29.76.
The trio of local lenders were also among the top gainers for the day. DBS added 1.1 per cent or S$0.37 to S$33.41; OCBC gained 0.6 per cent or S$0.08 to S$13, and UOB advanced 0.3 per cent or S$0.07 to S$28.45.
17Live was one of the top losers, with a decline of 5.5 per cent or S$0.09 to S$1.55.
Among the constituent stocks, Venture Corp was the biggest loser, shedding 0.3 per cent or S$0.04 to S$13.61.
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