Banks lead Singapore stocks higher; STI gains 0.1% to 3,234.37

FINANCIALS led the Singapore stock market to a modest gain on Thursday, with the Straits Times Index (STI) nudging up 0.1 per cent or 3.13 points to 3,234.37.

Gainers outnumbered losers 276 to 183, or three up for every one down. A total of two billion shares worth S$1.2 billion changed hands.

Bank stocks rose as Singapore's official economic forecast stayed at growth of 1-3 per cent, although the guidance was for gross domestic product to increase more than the 2 per cent expansion in 2016.

DBS Group Holdings increased by 0.19 per cent or four Singapore cents to close at S$21.04, while OCBC Bank added 0.38 per cent or four Singapore cents to S$10.47.

Singapore Telecommunications, however, was a key drag on the index, shedding 0.53 per cent or two Singapore cents to head out at S$3.73.

Noble Group bounced back from five straight declines to rise 9.09 per cent or 3.5 Singapore cents to finish at 42 Singapore cents.