Singapore stocks end higher on Friday, STI up 0.26%

SINGAPORE shares ended the week higher, tracking Wall Street gains as inflation concerns subsided amid favourable US jobs data.

The benchmark Straits Times Index (STI) closed at 3,117.89 points, up 0.26 per cent or 8.08 points on Friday.

Key regional markets were a mixed bag. Hong Kong's Hang Seng Index ended nearly flat at just 0.03 per cent higher while Japan's Nikkei 225 rose 0.78 per cent. Seoul's Kospi fell 0.19 per cent; the Jakarta Composite Index fell 0.42 per cent and the Kuala Lumpur Composite Index dipped 0.83 per cent.

IG market strategist Yeap Jun Rong said that the upbeat US session overnight could drive bullish sentiments towards tech stocks in the region.

"One to watch (is) if the renewed sentiments towards growth stocks may last, considering that sector rotation towards value has been largely the theme since the start of this year," he added.

Across the Singapore market, advancers outpaced decliners 232 to 202 with 1.32 billion shares worth S$1.27 billion changing hands.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

At the top of the blue-chip index was Venture Corporation (V03 : V03 0%), with shares up 1.4 per cent or S$0.25 to S$18.64.

This is followed by CapitaLand (C31), which rose 1.1 per cent or S$0.04 to S$3.58 and Mapletree Industrial Trust (ME8U : ME8U 0%) which ended the day at S$2.79, up 1.1 per cent or S$0.03.

MIT's private placement of 190.3 million new units was 3.1 times subscribed at S$2.696 per unit, its manager said on Friday. Most of the proceeds raised with this private placement and a preferential offering will be used to partially finance its intended US$1.32 billion acquisition of 29 data centres in the United States.

At the bottom of the table was Frasers Logistics & Commercial Trust (BUOU), which shed 0.7 per cent or S$0.01 to S$1.44. Meanwhile, Yangzijiang Shipbuilding (BS6 : BS6 0%) was the most heavily traded stock on the STI. Its shares ended flat at S$1.45 after over 29 million shares changed hands.