STI bounces back amid upbeat outlook
Higher oil prices helped lift energy shares and alleviated concerns over oil and gas sector
SINGAPORE equities made a swift rebound on Tuesday following slight losses clocked a day earlier, amid higher oil prices, upbeat outlook on the global economies and better performance on Wall Street.
Led by fresh records on Wall Street on Monday night, the benchmark Straits Times Index (STI) retreated from an intraday high of 3,416.73, but added 31.25 points or 0.92 per cent to close higher at 3,413.10 - the highest in two-and-a-half years.
Turnover came in at 2.7 billion worth some S$1.4 billion, working out to an average of about S$0.52. Trading was firm with the advance-decline score 257 to 184, excluding warrants.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly