Singapore stocks rise amid mixed regional showing; STI up 0.5%

[SINGAPORE] Singapore stocks ended higher on Monday (Apr 6) amid mixed results from regional peers.

The benchmark Straits Times Index (STI) gained 0.5 per cent or 24.9 points to finish at 4,972.40.

Yangzijiang Shipbuilding led the gainers on Singapore’s blue-chip index, rising 3.1 per cent or S$0.12 to end at S$3.95.

The worst performer among the STI constituents was Sats , which fell 0.6 per cent or S$0.02 to close at S$3.56.

The three local banks ended mixed on Monday. DBS rose 0.1 per cent or S$0.08 to S$57.63, and OCBC was up 0.3 per cent or S$0.06 at S$22.44. UOB finished 0.03 per cent or S$0.01 lower at S$36.90.

Meanwhile, the iEdge Singapore Next 50 Index gained 1.3 per cent or 18.22 points to end at 1,467.36.

Pan-United Corporation was the index’s top gainer, rising 5.6 per cent or S$0.09 to finish at S$1.71, while Ultragreen.ai was the biggest loser, falling 2.7 per cent or US$0.04 to US$1.43.

Across the broader market, gainers beat losers 297 to 140, after 985.7 million securities worth S$1.3 billion changed hands.

Key regional indices ended mixed. Japan’s Nikkei 225 rose 0.6 per cent and South Korea’s Kospi was up 1.4 per cent, while the FTSE Bursa Malaysia KLCI declined 0.9 per cent.

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Markets are flirting with the idea of a peace dividend, said Stephen Innes, managing partner at SPI Asset Management.

Equities are lifting as the possibility of a 45-day ceasefire circulates and oil prices ease, he added.

“The lift in equities and the pullback in crude carry the fingerprints of relief, yet the underlying tone remains cautious, reflecting a market that understands the odds of a near-term deal remain low.”