Singapore stocks track regional gains on Thursday; STI up 0.2%
Across the broader market, gainers outnumber losers 270 to 216 after 1.2 billion securities worth S$1.2 billion change hands.
[SINGAPORE] Singapore stocks ended higher on Thursday (Nov 27), tracking gains in the region.
The benchmark Straits Times Index (STI) gained 0.2 per cent or 7.78 points to finish at 4,509.34. The iEdge Singapore Next 50 Index inched down 0.68 points or 0.05 per cent to 1,444.74.
Across the broader market, gainers outnumbered losers 270 to 216, after 1.2 billion securities worth S$1.2 billion changed hands.
Key regional indices were largely in positive territory. Hong Kong’s Hang Seng gained 0.1 per cent, Japan’s Nikkei 225 gained 1.2 per cent and South Korea’s Kospi gained 0.7 per cent.
Meanwhile, the FTSE Bursa Malaysia KLCI shed 0.4 per cent.
Stephen Innes, managing partner at SPI Asset Management, noted that overnight, Wall Street stocks logged their best four-day stretch since May.
He said investors are preparing for a new US Federal Reserve chair that would likely bring “faster cuts, a lower neutral rate”, and a “growth-first, inflation-second” world view.
“It’s oxygen for risk assets – especially the AI (artificial intelligence) complex that drinks cheap capital like it’s running a marathon in July,” he added.
On the STI, DFI Retail Group was the top gainer, rising 1.5 per cent or US$0.05 to end at US$3.44.
The worst performer among the index’s constituents was UOL , which fell 1.4 per cent or S$0.12 to close at S$8.47.
The three local banks ended Thursday mixed. DBS rose 0.3 per cent or S$0.16 to S$54.00 and OCBC was up 0.2 per cent or S$0.04 at S$18.27. UOB finished 0.1 per cent or S$0.03 lower at S$33.89.
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