Singapore stocks rise on Monday; STI up 0.6%

[SINGAPORE] Singapore stocks ended higher on Monday (Jul 27).

The benchmark Straits Times Index (STI) gained 0.6 per cent or 31.90 points to finish at 5,620.24.

Seatrium led the gainers on Singapore’s blue-chip index, rising 8.9 per cent or S$0.19 to S$2.32.

The company on Friday said it expects to report a “material year-on-year improvement” in net profit, mainly attributable to divestment gains and progressive margin improvements.

“While this is largely anticipated, a solid set of results should still be welcomed by the market,” said DBS in a research note on Monday.

The worst performer among STI constituents was Thai Beverage , which fell 1.1 per cent or S$0.005 to S$0.45.

The three local banks ended higher. DBS gained 0.6 per cent or S$0.44 to end at S$74.38, OCBC rose 0.7 per cent or S$0.20 to S$29.29, and UOB was up 0.4 per cent or S$0.18 at S$43.50.

Within the iEdge Singapore Next 50 Index, PC Partner was the top gainer, rising 7.2 per cent or S$0.19 to S$2.82, while Raffles Medical Group was the biggest decliner, falling 4.2 per cent or S$0.04 to S$0.91.

Across the broader market, gainers outnumbered losers 324 to 223, after 1.4 billion securities worth S$1.9 billion changed hands.

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Seatrium expects ‘material’ improvement in H1 profit

Addvalue Tech was the most actively traded stock, with 91.9 million shares changing hands.

DBS was the most actively traded stock in terms of value, with a volume of 3.3 million shares worth S$241.9 million.

Key regional indices were positive. Hong Kong’s Hang Seng Index gained 1 per cent, Japan’s Nikkei 225 rose 0.5 per cent, South Korea’s Kospi was up 1 per cent and the FTSE Bursa Malaysia KLCI advanced 0.7 per cent.

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