STI rises on Tuesday amid mixed regional performance
The index closes up 1.2% or 54.07 points at 4,542.20 while the iEdge Singapore Next 50 Index rises 0.5% or 7.11 points to 1,456.04
[SINGAPORE] The Straits Times Index (STI) closed up on Tuesday (Nov 11), while regional indices were mixed.
The STI rose 1.2 per cent or 54.07 points to 4,542.20. The iEdge Singapore Next 50 Index also closed higher, up 0.5 per cent or 7.11 points at 1,456.04.
Across the broader market, advancers outnumbered decliners 295 to 269 after 1.6 billion shares worth S$1.9 billion changed hands.
The trio of local banks closed higher. DBS was up 1.5 per cent or S$0.81 at S$55.08. UOB rose 1 per cent or S$0.35 to S$34.03. OCBC closed up 2 per cent or S$0.36 at S$18.55.
Genting Singapore remained the top gainer on the STI, closing up 3.9 per cent or S$0.03 at S$0.80.
The biggest loser was Sats, closing down 0.6 per cent or S$0.02 at S$3.48.
Across the region, major indices were mixed on Tuesday, with the Kospi up 0.8 per cent and the Nikkei 225 down 0.1 per cent. Hong Kong’s Hang Seng Index rose 0.2 per cent and the KLCI was up 0.5 per cent.
The imminent US government reopening is bringing cheer to the markets, with markets rallying said Jose Torres, senior economist at Interactive Brokers. But the improving environment weighs on the probability of a Fed reduction next month. Stocks are expected to continue its rally as prospects improve with the holiday season.
“Now, with the worst likely behind us, barring any unexpected hurdles in the House of Representatives, the cycle stands to benefit from an increase in relative certainty and stimulative fiscal policies passed in 2025, which are positioned to strengthen activity and corporate earnings in 2026,” said Torres.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
