Singapore stocks track regional gains on Tuesday; STI up 0.4%
The Nikkei 225 is up 1 per cent, the Kospi Composite Index has gained 0.4 per cent, while the Hang Seng Index has risen 0.3 per cent
SINGAPORE stocks ended higher on Tuesday (Jun 25), tracking gains in the region.
The benchmark Straits Times Index (STI) rose 0.4 per cent or 12.14 points to 3,326.28.
Across the broader market, gainers outnumbered losers 287 to 259, after 1.1 billion securities worth S$1.1 billion changed hands.
Key indices in the region largely ended higher.
The Nikkei 225 was up 1 per cent, the Kospi Composite Index gained 0.4 per cent, while the Hang Seng Index rose 0.3 per cent.
Meanwhile, the FTSE Bursa Malaysia KLCI was down 0.3 per cent.
Yeap Jun Rong, market analyst at IG, noted that overnight in US markets, nine of the 11 S&P 500 sectors ended the day in the green, despite unwinding in the tech sector.
This likely suggests that market sentiments continue to lean towards risk-taking, while a near-term positioning re-adjustment is taking place.
“The rotation towards value may potentially help to offer some support for the region, accompanied by a weaker US dollar and a tick lower in US Treasury yields,” Yeap said.
On the STI, the biggest gainer was CapitaLand Ascendas Real Estate Investment Trust, which rose 1.2 per cent or S$0.03 to S$2.57.
The biggest decliner was Jardine Cycle & Carriage, which lost 4.2 per cent or S$1.19 to end at S$27.35.
The local banking trio ended higher on Tuesday.
DBS gained 0.3 per cent or S$0.11 to reach S$35.65, OCBC rose 0.7 per cent or S$0.10 to S$14.41, while UOB was up 1.1 per cent or S$0.32 at S$30.90.
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